A large number of bachelor degree students and almost all employed mid-level executives are in a run for an MBA degree. Students have option to pursue MBA through full-time, part-time, distant and of late online mode. While fresh graduates usually go for full-time course; part-time, distant and online courses are favored by employed executives. They compare options in terms of quality of education, experience, cost, placement, duration, flexibility etc. However the scenario is bit different for fresh graduates aspiring to pursue full-time MBA.
Aliff Overseas Consultants, full time MBA students often get confused whether to study in India or go abroad. He elaborated and compared between MBA in India and MBA abroad, for students to avoid confusion and get a clear picture. He put into perspective 5 major points, Admission, Duration, Quality, Exposure and Cost.
We will first consider admission into a MBA program. In India students for full-time MBA has to go through a series of admission and screening test to get admission into a MBA program. On the other hand it’s just a single test to qualify for a MBA program. Secondly, Indian MBA programs are 2 years in duration whereas MBA programs abroad ranges between 1 and 2 years in duration.
Speaking of the quality of studies, Mr. Shaikh said, comparatively Indian MBA colleges are decades behind their counterparts abroad. Curriculums in Indian colleges have not been changed since long and miss on the latest developments or demands of the industry. Colleges abroad constantly update their curriculums and align their courses with industry needs.
Fourth most important point according to MR. Shaikh is that students enrolled into foreign universities experience a diverse culture, and global exposure through international internships.Since the focus of the entire MBA curriculum abroad is current industry requirements, so they give stress on acquiring hands-on industry experience through internships. MBA colleges abroad often invites top officials from big international companies as visiting faculties to conduct classes and shares their experience with students.
Mr. Shaikh sighted a practical example “It’s something similar to a big Indian corporate who never tries to find a candidate abroad; and an international company will not search for potential candidate in India. You are always a couple of steps ahead with study abroad programs.”Work experience in an international company, undeniably adds prestige and profile to a student’s Resume. Moreover you stand a chance against your international peers to bag an international job.
Mr. Shaikh concluded with the most important point in this debate by comparing the cost. “Students and parents alike live with the myth that studying abroad is expensive and will cost them a fortune. It’s time to come out of such thinking and compare the cost vis-à-vis. Students and parents will get surprised, it’s the same or in some case may be even less expensive to study MBA abroad.” Mr. Shaikh headed Aliff overseas, a premier study abroad consultant based in Mumbai, offers students with study abroad at Indian cost options. An average Indian student spends around 6 to 15 lakhs for MBA in India; studying MBA abroad costs something in between 6-18 lakhs.
International MBA students get to cover a part of their expenses through part-time jobs, which you cannot do in India. They also get stay back options to find jobs in foreign countries and generally land up working for good international companies.