The decision to enrol in an MBA programme should be based mostly on your professional goals and the management course you choose. The MBA college should be the second factor. This choice involves in-depth investigation into each MBA college's course offerings. Studying abroad is one of the best ways for young professionals to broaden their perspectives. By interacting with people and improving your language abilities, you may fully immerse yourself in a new culture. Additionally, it offers the possibility to get a degree from some of the world's top educational systems, like the US and the UK.
Employment opportunities are another significant benefit of studying abroad. You might be able to secure an internship or job experience with an international corporation, and you can even take the first step toward starting a career in another country.
Why Pursue an MBA Abroad?
At some point throughout their career, every professional who wants to advance will consider getting an MBA. No student who wants to pursue a master's degree in business administration abroad will pass up the opportunity to attend their ideal university. Your dream career will be closer to you if you pursue an MBA from a reputable university. Undoubtedly, working overseas will increase your earning potential or provide you with a more attractive salary.
Other advantages of studying abroad include:
- Career development
- Excellent opportunity for networking
Every student interested in business administration aspires to enrol in the best business schools and institutions overseas. A question might arise in a student's mind about how to get admission in MBA. Consider the advantages of this programme in light of your educational and career goals if you're thinking about enrolling in an MBA programme. Be specific about why you want to pursue it, your aspirations, and how getting an MBA would help you realise them.
Eligibility Criteria for an MBA Abroad
All colleges providing Master of Business Administration programmes overseas require a bachelor's degree from an accredited institution. Other qualifications, such job experience, are also required by some colleges. However, not all academic institutions request job experience. Checking the admission requirements of the college to which you are applying is usually a smart idea.
1. Academic requirements
A full-time bachelor's degree from an accredited university is preferred by reputable universities. Additional academic requirements are listed here.
- The most fundamental prerequisite for admission to an MBA programme is a bachelor's degree from a reputable university.
- Language proficiency tests, standardised tests like the GMAT and GRE, IELTS, TOEFL, and PTE
2. Requirements for work experience
The best colleges with MBA programmes want applicants with significant job experience. Having relevant job experience is usually advantageous, even if some schools offer MBA programmes without it. Foreign schools search for applicants who can enhance their colleges and get the most from their programmes, in addition to those with a strong academic record.
3. Application requirements
A very significant step in your professional career is submitting an MBA application to a foreign university. For applicants to an MBA programme, a bachelor's degree or its equivalent from a recognised university is a requirement. Below are some additional application criteria.
- Reference letters
4. Application process
The application procedure has been outlined for you below. Additionally, be sure to search for schools and institutions at least a year before applying for admission.
- Choosing a course or country
- Profile assessment
- Choose a few institutions to which you will submit an application.
- Begin assembling the appropriate paperwork
MBA Abroad Exams
Candidates must pass language proficiency tests like the IELTS, TOEFL, and PTE as well as standardised tests like the GMAT and GRE in order to be admitted to an MBA school. Candidates should be aware of the test to take for each course they plan to study abroad as the exams differ depending on the university and course they choose. There are some specific MBA entrance exams depending on various factors.
What Should I do After Receiving a Letter of Acceptance?
You're accepted, congrats! All that's left to do now is get ready for school, condense your entire existence into one (big) bag, organise your travel paperwork, apply for a student visa, check into your housing choices, and start looking for finance.
In fact, you should start thinking about your travel paperwork as soon as you are accepted by a university. Make sure you have a current passport, travel insurance, and, if necessary, a student visa. To be able to travel legally, make sure you have enough time to have your passport or visa authorised.
The need for specialised skill sets to comprehend the difficulties faced by each business grows as there are more industries. Additionally, picking an MBA concentration is a significant professional decision, therefore one should exercise caution.
Typically, core courses are the focus of the first year of the MBA specialization programme lays out a solid basis for all the topics. One choose to concentrate in a certain subject during the second year.
- Human Resources
- Information Systems
- Operations Management
Popular Locations for MBA Programs Abroad
Finding the ideal nation for an MBA is difficult since there are many criteria to take into account. The top places to study for an MBA are the US, UK, Canada, Australia, Germany, and Singapore. The Harvard Business School is one of the most famous B-School for MBA. Before applying, it's crucial to make a well-informed decision on where to study. Selecting the appropriate curriculum for your needs is a crucial first step. Finding the appropriate institution will be difficult for individuals who are persuaded to apply to the best universities and colleges overseas.
Top Companies: MBA Abroad's Purpose
Many MBA graduates pursue their degree with the sole intention of finding employment overseas. It makes financial sense to work overseas after paying a hefty sum for an MBA. In addition to this, it exposes students to functioning in an entirely other environment. Is it worthwhile to pursue an MBA abroad? An MBA from a reputable university may present you with chances. Additionally, you have a wide range of fantastic employment options if you attended a prestigious university like Harvard or Oxford for your education. Additionally, the majority of international MBA programmes allow students to stay behind to work and get professional experience. This is a fantastic chance to not only teach you how to manage your money but also to provide you work experience.
Career Opportunities for MBAs Working Abroad
The need for MBAs will exist in either a boom or a depression. People with outstanding business talents will undoubtedly have the opportunity to showcase their abilities.
- Finance: Working in corporate finance is one of the most sought-after professions. Financial Consultant, Financial Analyst, Finance Manager, or Finance Director are all possible careers. At the beginning of a career, one might make anywhere from $55,000 to $78,000.
- Economic and financial prospects abound in the US, which is known as the centre of financial activity. A Portfolio Manager, Financial Consultant, or Director of Operations can all be employed here. In the beginning stage, salaries vary from $51,000 to $60,000.
- Operations Management: There is a growing need in the industrial or service sectors today for professionals with experience in managing the line of operations. Companies may embrace new technology and create profit-maximizing plans with the assistance of the cutting-edge approaches and skills taught in MBA programmes.
What is the Cost of Studying Abroad?
The typical tuition costs for foreign students in your preferred country, as well as the cost of living, must be taken into account when calculating the cost of studying abroad. Students can take education loans to pursue their courses.
For comparison, the average annual cost of tuition for overseas students studying in the UK is £10,000 (about $14,200 USD), plus an extra $12,180 (almost $17,300 USD) for living expenses (with more needed if you study in London).
The average annual tuition cost in the US is $25,620 for public institutions and $34,740 for private universities. It is also advised to set aside an additional budget of at least $10,800 to cover living expenses. Keep in mind that undergraduate programmes in the US typically endure a full four years while considering these yearly statistics.
There are no tuition costs at all in certain nations. Examples worth mentioning include Norway and Germany.
Scholarships for MBA Study Abroad
Organizing a large sum of money for studies might be a difficult endeavour. Therefore, in order to pay for their studies, students frequently search for MBA scholarships.
- The JN Tata Endowment for Indian Higher Education is a debt that students must return within seven years after completing their degree programme; it is not a scholarship. The interest rate is only 2%, though, and it is waived if the applicant repays the loan within the allotted period. This endowment program's funding ranges from INR 1.5 to 6 lacs.
- China and India's Board of Overseers at Columbia Business School Fellowships: Students from China and India are given this fellowship each year, and the money is renewable for one additional year. These prizes are given to college students who have achieved academic and professional success.
- Reliance Dhirubhai Fellowship at Stanford: This fellowship is given to Indian students who need financial support to attend Stanford to pursue an MBA. Students who took advantage of this scholarship are required to travel to India and work for an Indian company within two years after finishing the MBA programme.
- Outstanding students from all over the globe are given the Rhodes scholarship to attend the University of Oxford to study business administration. One of the most prominent and established international award programmes is the Rhodes Scholarship.
- OGS Scholarships for International Students - MBA: Since 1975, the Ontario government has offered Ontario Graduate Scholarships in collaboration with the province's publicly supported universities (OGS). This grant is available to students at Western University in Canada who wish to study an MBA.
Each year, thousands of students are accepted to study abroad, so you may too!
Applying to study abroad may be challenging, and it may feel like there are many hurdles to clear before you can start your degree. You should be able to successfully finish your application procedure by following these instructions, and you can then be ready for a brand-new exciting chapter in your life. The journey's start, launching into the world and taking use of everything it has to offer, is the last stage.
1. Why should I study abroad?
For a number of reasons, study abroad programs are becoming more and more popular. The majority of foreign students are likely drawn by the prospect of receiving a top-notch education, experiencing a new culture (and usually a second language), cultivating a global mindset, and increasing their chances of finding employment in the future.
Although leaving home and venturing into the unknown might be frightening for some, studying abroad is also an exhilarating challenge that frequently results in better professional possibilities and a deeper grasp of how the real world works.
The sort of experience you have while studying abroad may greatly differ depending on where you go, so choose a location based on both your own interests and the academic standing of the nation to maintain a healthy work/play balance.
2. How long do programs for studying abroad last?
Depending on the programme and degree level you're pursuing, the amount of time you spend studying abroad will vary. An undergraduate degree will typically require three or four years of full-time study (for example, most subjects in the UK take three years to complete, while in the US it typically takes four), whereas a graduate degree, such as a master's degree or equivalent, will typically take one or two years. A doctorate program (PhD) typically lasts three to four years.
Additionally, there is often the opportunity to study abroad for a shorter amount of time at several colleges throughout the globe. You can take advantage of student exchange programmes to study abroad for a year, a semester, or even just a few weeks. Both the primary institution where you want to enrol and the university where you would like to be hosted should have information about these shorter programmes on their websites.
3. What criteria must you meet to enrol in a study abroad programme?
Check the details supplied by your chosen institution before submitting anything because entry criteria differ significantly across colleges and between nations.
Generally speaking, however, if you are applying for an undergraduate degree you will be asked to demonstrate that you have finished your secondary education to a standard that is in line with the required grades (for example, your GPA, A-level grades or equivalent) for the programme you are applying to. If you hold an overseas degree and are unclear if it will be accepted, you should speak with the university's admissions office.
It is also quite possible that non-native English speakers who desire to pursue higher education in an English-speaking nation will be required to demonstrate their language skills by passing tests like the TOEFL or IELTS. For people learning other languages, similar exams can be necessary. Refer to question eight for further details on language testing.
4. What supporting documents must I provide with my application?
As part of your application, you might need to provide certain supporting material. Again, criteria differ by nation and institution, however the following is frequently requested of overseas students:
- Photos for identification in passports
- A purpose statement
- Academic testimonials and letters of support
- Certificates and secondary school transcripts
- For schools in English-speaking nations, proof of English language ability (such as a TOEFL/IELTS certificate) or another language test
- Results of admissions tests (for graduate schools, including GMAT/GRE scores)
5. Where will I stay while I'm studying abroad?
If the university of your choice offers on-campus housing, you may be able to apply for a spot in one of the student residences there. Should this not be the case, you will have to arrange your own lodging.
If money is no problem, you can think about renting your own apartment, while those with a tighter budget might look for shared housing with other students or make use of web listings for available rooms. You should always conduct thorough investigation before agreeing to anything or paying any money. The student union and student support staff at your university should also be able to provide guidance on where to find nearby housing.
6. Can I have a job while studying abroad?
Whether or not you are able to work depends on your student visa. The quantity of paid employment you may do while you're studying may be limited in various countries. During the academic year, there is frequently a cap of 20 hours of paid labour per week, with full-time employment allowed during breaks.
If you don't require a student visa, you may be permitted to work as much as you like as long as it doesn't interfere with your studies. However, you should confirm with the school and/or the official government website. Even if you work throughout your studies, it's not a good idea to use your income to pay for living expenses, and you may need to provide evidence of your ability to support yourself when you apply for a visa in many circumstances.