Most aspirants who want to study MBA are stuck in a dilemma whether to study abroad or in India. This article reviews some points that will shed light on the core difference between the two programs.
#1 Career Placement
An MBA in the USA doesn't offer campus placements. As in the case of MBA in the USA, the course is quite excellent but they offer no job security. Although they do have career fairs where several companies come to recruit potential candidates. On the other hand, an Indian MBA pertains to the Indian Market and it also offers pre-placement opportunities.
#2 International Exposure
American business schools can help you with the best exposure in terms of leadership and management skills from an international perspective. The domestic MBA program is designed for the Indian Market with more of their focus on finance and management.
#3 Career opportunities
If you plan to work in India after your MBA in the USA then it won't help you in Indian markets as foreign MBA courses are based on an international perspective. However, the post-MBA salary of a graduate in the USA is more than that of an Indian graduate. A foreign MBA course thus is very useful if you are opting for a job in the states. Usually, the job opportunities in the states are less than that of India but the salary output is better as compared to India. Moreover, one who has a foreign MBA degree from a prestigious university has more job opportunities than one who has pursued a domestic degree.
#4 Study Expense
Top ivy business schools in India like IIM, MDI charge around 20-24 lakh for a two-year course. Whereas, according to US News & World Report, in 2017 the average cost of a two-year MBA program the top 10 business schools in the U.S. was over $130,000 for tuition. A foreign MBA also includes immigration hassles which can be a burden for a student belonging to a middle-class background.
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International MBA program offers credible research opportunities and diversity which the Indian MBA programs lack. While the foreign B- Schools excel in preparing the business leaders of tomorrow with their dynamic and diverse programs, most universities in India are known for their fancy programs with less focus on Business and more centered around teaching management skills. An international MBA program also opens up a window of opportunity for the students in terms of leadership and managerial training. Moreover, it is very hard for the students to come back to India after their MBA program due to work commitments, schedule etc.
#6 Wealth Building
Wealth building in the states is quite difficult without a permanent residence due to the expensive cost of living, while you can generate wealth quite faster in India. So, it boils down to your determination and persistence if you want to apply for an MBA program in the states as it is more competitive and expensive. Though it will be a learning experience like no other. On the other hand, a domestic MBA program can greatly help you if you plan to work in India after your masters.
If you're looking for an MBA in the USA, then it’s preferable to join the ivy league universities like Stanford, MIT Sloan School of Management etc. They offer excellent and diverse programs with exclusive scholarships and you get to meet people from all around the world and this will largely help you to get an idea of their business culture and social backgrounds.