EdMIUMAccording to a survey done by the Graduate Management Admission Council (GMAC) in 2020, 81% of Indian students want to study abroad for their MBA Abroad program. The top countries that Indian candidates prefer to study abroad in are USA, UK, Australia, Canada and New Zealand. MBA Abroad applications are based on the scores on the GMAT and performance in TOEFL and IELTS tests. A Bachelor’s degree with 50% marks in business or related field from a recognized university and a work experience of 3 to 5 years are required to pursue MBA Abroad. MBA Finance is one of the most popular specializations for students who like to study abroad.
In this article, let us look at:
1. Admission Process
Prerequisites for MBA Abroad include a bachelor’s degree in business and work experience for at least 4-5 years. The details of which are discussed in the following sections.
Requirements & Eligibility
Studying MBA Abroad can seem a little complex in terms of various criteria to be fulfilled. Therefore, to ease out the complexities, below are the common MBA eligibility criteria to follow:
- Academic Requirements: Any candidate willing to pursue MBA from a foreign country must possess a bachelor’s degree in business or any related field of study from any recognized university.
- Work experience: 3 to 5 years.
- Language Proficiency: One of the vital MBA Abroad criteria is to be proficient in the language of the specific country from where one wants to pursue their MBA.
Prerequisite
Following are some of the important points to remember for MBA Abroad admission process:
- Documents Required: The essential documents required for MBA admission abroad are a current resume, letter of recommendation, official transcripts, current photo for ID, a valid national passport and visa.
- Essay: They have to write about their past experiences, their goals, their strengths, and weaknesses, etc, to help the authorities understand a little about their personality, and past experiences.
- MBA Abroad Exams: Students interested in doing their MBA internationally will have to take the GMAT test. As this test is a compulsory requirement for MBA admission in foreign colleges. The score ranges from 200-800 and may vary depending on the university one chooses.
- Language Proficiency Test: TOEFL and IELTS are two language tests to be cleared by the students that want to study MBA abroad.
- University Entrance Exams: Many universities will check the abilities of foreign students. Clearing these exams is important because these will help them get into their dream school.
- MBA Interview: Interviews are done either in person or over the phone . Most colleges do not do written tests.
MBA Abroad Without GMAT
In order to pursue MBA Abroad without GMAT, one must have the following:
- Good academic records
- A strong resume
- A work experience of more than 5 years.
The following table shows some of the top Universities offering MBA Abroad without GMAT requirements, along with the country and average fees:
| Colleges | Country | Average Fees INR (USD) |
| Kellogg School of Management | USA | 75,96,660 (101,288 USD) |
| Anderson School of Business | USA | 48,83,350 (65,114 USD) |
| Kenan-Flagler Business | USA | 49,74,300 (66,324 USD) |
| Sobey School of Business | Canada | 23,41,950 (31,226 USD) |
| Lazaridis School of Business and Economics | Canada | 24,75,000 (33,000 USD) |
MBA Abroad Without Work Experience
Countries like the USA, UK, France, Australia, and Germany are countries that offer an MBA without work experience. In order to pursue MBA Abroad without work experience, candidates must follow these requirements:
- A strong GMAT scores
- Good academic records
- A strong personal letter
Tabulated below are some of the top colleges offering MBA without work experience, along with the country and average fees:
| Colleges | Country | Average Fees INR (USD) |
| Chicago Booth School of Business | USA | 54,00,000 (72,000 USD) |
| Haas School of Business | USA | 48,48,900 (64,652 USD) |
| University of Northampton | UK | 14,38,125 (19,175 USD) |
| University of West London | UK | 12,67,500 (16,900 USD) |
| Coventry University | UK | 15,32,850 (20,438 USD) |
2. Curriculum
MBA Abroad syllabus is usually divided into 2 years and each semester is known as fall and spring. Students are asked to pursue the required curriculum for the first year and in the second year one is asked to choose from various electives given by universities.
Subjects
The table below shows the general MBA Syllabus for MBA abroad, but it may vary depending on the country and university one selects:
| Year 1 (Fall Semester) | Year 1(Spring Semester) |
| Finance 1 | Finance 2 |
| Financial Reporting and Control | Business, Government, and the International Economy |
| Leadership & Organizational Behavior | Strategy |
| Marketing | The Entrepreneurial Manager |
| Technology & Operations Management | Leadership and Corporate Accountability |
| Interpersonal Skills Development Lab | FIELD Global Immersion |
| Short Intensive Programs | – |
| Year 2 (Electives) | |
| Accounting and Management | Business, Government & the International Economy |
| Finance | Entrepreneurial Management |
| General Management | Negotiation, Organizations & Markets |
| Marketing | Organizational Behavior |
| Strategy | Technology & Operations Management |
3. Specializations
There are many specializations that one can get when studying MBA from international B-schools. There are many ways to obtain a degree in International Business. The eligibility, admission process, and duration of MBA Abroad are the same as a general MBA. Below we have a list of popular MBA specializations and colleges offering the same.:
| Specializations | Colleges | Average Annual Fees |
| MBA Marketing | IUBH University of Applied Sciences, Germany | INR 12,,64,649 (16,627 USD) |
| The University of Newcastle, Australia | INR 18,86,288 (24,800 USD) | |
| University of Sunderland, UK | INR 12,96,899 (17,051 USD) | |
| California State University Los Angeles Campus, USA | INR 13,91,593 (18,296 USD) | |
| MBA Finance | Coventry University, UK | INR 15,54,514 (20,438 USD) |
| Laval University, Canada | INR 84,2,744 (11,080 USD) | |
| New York Institute of Technology, USA | INR 29,32,113 ( 38,550 USD) | |
| University of South Australia, Australia | INR 20,78,263 ( 27,324 USD) | |
| MBA Human Resource | Pace University, USA | INR 29,66,340 (39,000 USD) |
| University of Bedfordshire, UK | INR 12,42,688 (16,338 USD) | |
| The University of Newcastle, Australia | INR 19,16,712 (25,200 USD) | |
| University of Sunderland, UK | INR 12,96,899 (17,051 USD) | |
| MBA Supply Chain Management | Colorado Technical University, USA | INR 11,18,082 (14,700 USD) |
| Kuhne Logistics University, Germany | INR 24,47,610 (32,130 USD) | |
| University of South Dakota, USA | INR 14,76,324 (19,410 USD) | |
| MBA Project Management | Torrens University, Australia | INR 11,96,575 (15,732 USD) |
| Salem University, USA | INR 17,79,804 (23,400 USD) | |
| University of Bedfordshire, UK | INR 12,42,688 (16,338 USD) |
4. Cost
In Germany, you can get an MBA Abroad for a low cost but the cost of MBA in countries like the US, UK, and Canada are rather expensive. Check the country-wise MBA price to have a better understanding:
| Country | Average Fees (INR) |
| USA | 60 to 80 Lakhs |
| Canada | 15 to 60 Lakhs |
| Germany | 0 to 40 Lakhs |
| UK | 20 to 65 Lakhs |
| Australia | 12 to 30 Lakhs |
| Ireland | 10 to 29 Lakhs |
| New Zealand | 15 to 25 Lakhs |
| Singapore | 45 to 65 Lakhs |
5. Top MBA Colleges With Fee Structure
Following are the few of the top MBA abroad colleges, along with their location and annual fees charged:
| Scholarship Name | Number of Scholarships | Type of Scholarship | Reward (INR) |
| Ontario Graduate Scholarship | 22 | Merit-based | 8, 23,000 |
| Australia Awards Scholarship | 1985 | Merit-based | Variable |
| GREAT Scholarship | 103 | Merit-based | 9,46,000 |
| Go Clean Scholarship | 1 | Merit-based | 2, 64,000 |
| Debesh Kamal Scholarship | – | Merit-based | 1,05,329 |
| Forte Fellowship | 3 | Merit-based | 18,63,000 |
Conclusion
MBA Abroad can be an expensive affair. The fees can shoot up to INR 80 Lakhs to even a few crores. This is much higher than the MBA Fees offered in Indian colleges. However, the candidates have the option of availing various financial benefits available through the various MBA scholarships. The best Countries to Study MBA Abroad are USA, UK, Canada, Australia, Germany.
