MBA in India or Abroad – Where to go?
In last few years, Indian management education space has seen an evolution. The surge has come in the form of higher number of B-Schools / management institutions, backed by a big number of aspirants. Economic boom & expansion of domestic market has played a vital role in attracting young grads towards pursuing courses like MBA / PGDM.
The standard of management education has also risen significantly in the country. IIMs, ISB, IITs, Government & Private universities have re-defined it through world class teaching pedagogy, better infrastructure & some great placement opportunities to the students.
To attain advance business & managerial skills, MBA aspirants also look towards studying abroad options especially in countries like US, UK, Australia & Canada.
What is the difference between MBA in India or MBA Abroad?
This question is extremely common among MBA aspirants. Now, if we compare Indian MBA with an MBA Abroad (US, UK, Canada, Australia), there are few interesting that comes out, like
Cost– The prime mover in the MBA space is the cost factor. Definitely due to the currency difference & high value of Dollar / Euro compare to rupees makes MBA abroad option more expensive than that of India.
Curriculum – Management education in abroad has already evolved to a level where it is industry linked & is based on real business scenario & innovation thus providing cutting edge business skills to the students. While in India, management education is more theoretical & based on case studies.
Research Opportunities – “MBA abroad” is more lucrative for the students looking to work on research & on developing new management principles whereas in India, research has been restricted to pursuing a PhD course in management.
Acceptance – Degrees from these countries possess wider acceptability rather than that of India. Even in India, there is always a debate on the validity of degrees offered by autonomous institutions including IIMs.
Entrepreneurship – Another USP of “MBA Abroad” is the fulfillment of its real essence i.e. entrepreneurship. B-Schools in these countries help students to obtain an enterprising vision while in India; approach is rather more job-centeric. Remember, majority of Indian business personalities hold MBA degree from foreign Universities.
Cross Culture – MBA Abroad offers great opportunities to the students to experience & live in a cross culture environment thus helping them to develop broad view w.r.t obtaining managerial skills.
But, despite of above mentioned strengths of “MBA Abroad”, many recruiters still prefer “make in India” talent even for global roles. Companies like CITI Bank , Morgan Stanley, S & P, Google ; hire considerable number of Indian MBA grads every year from top B-Schools to lead various processes.