MBA Abroad: Eligibility Criteria, Career Prospects, and More
Mbbs 8 Apr, 2024
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MBA Abroad: Eligibility Criteria, Career Prospects, and More
MBA Abroad - MBA Abroad is a popular choice for those who want to study management in another nation. The United States, United Kingdom, Germany, Canada, France, and Italy are some of the most popular MBA destinations. The costs for an MBA overseas might range from INR 80 lakhs to a few crores. Candidates are eligible for a variety of financial perks, including MBA scholarships, loans, and institute-specific scholarships.
MBA Abroad admissions are based on GMAT/GRE scores and success on language competence exams such as TOEFL and IELTS. A bachelor's degree with at least 50% marks in business or a comparable discipline from a recognised university, as well as 3 to 5 years of work experience, are also required.
In this way, MBA Finance is the most popular specialisation among students who want to study MBA abroad. The specialisation provides substantial profits, ranging from INR 25,00,000 to INR 50,00,000 in the early years.
Why Study an MBA Abroad?
Every professional who wishes to further his or her career considers earning an MBA at some point in their careers. No student who wishes to pursue a Master of Business Administration overseas will pass up the opportunity to study at his or her favourite college. Pursuing reputable MBA programs at overseas colleges would help you get closer to your ideal career. A job overseas will undoubtedly provide you with a bigger earning potential or a more enticing compensation package.
Other advantages of studying abroad are career advancement and excellent networking possibilities as every business administration student aspires to attend the world's best business schools and institutions.
MBA from Abroad Eligibility and Requirements
How to pursue an MBA from abroad? A bachelor's degree from a recognized college is required by all the universities offering Master of Business Administration programs abroad. Some universities also have other requirements like work experience. Although, not all educational institutes ask for work experience. Before applying, it is always good to check the eligibility criteria of the college to which you are seeking admission.
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Particulars |
Details |
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Academic requirements |
Reputable colleges prefer a full-time bachelor's degree from a recognised institution. We have also included other academic qualifications here.
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Work Experience Requirements |
Top colleges providing MBA programs overseas want applicants with significant job experience. Although some institutions offer MBA programs without requiring job experience, having relevant professional experience is always advantageous. Aside from academic credentials, international schools seek students who can contribute to their colleges and get the most from their programs. |
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Application requirements |
Applying for an MBA at a foreign university is a significant step in your professional life. A bachelor's degree or equivalent from a recognised educational institution is required for admission to an MBA program. Some additional application criteria are listed here. Resume Reference letters and essays (if required by the university). |
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Application Process |
We've summed up the application procedure for you below. Also, check for colleges/universities at least 12 months before applying for admission. Course/country selection and profile evaluation. Determine which institutions to apply to and begin gathering required paperwork. |
MBA Abroad - Exam Needed
Candidates seeking admission to MBA programs overseas must complete language proficiency examinations such as IELTS, TOEFL, and PTE, as well as standardised exams like the GMAT and GRE. Candidates should be aware of which tests to take for particular courses and universities when studying abroad.
GMAT
Most MBA institutions overseas demand the GMAT exam as part of their admissions process. Over 2,400 MBA and MIM universities accept GMAT results. When it comes to GMAT cut-offs for top business schools, the majority of them demand a score of 700 or above. However, a GMAT score of more than 650 might get you into a good MBA educational institution overseas. The current version of the GMAT test includes Quantitative Reasoning, Verbal Reasoning, Integrated Reasoning, and Analytical Writing Assessment. The GMAT Focus Edition includes Quantitative Reasoning.
GRE
The GRE test was often taken to pursue an MS abroad. However, it has acquired popularity and relevance as an eligibility exam for MBA programs overseas as well. GRE scores are accepted by almost all top MBA programs worldwide. The GRE includes Analytical Writing, Quantitative Reasoning, and Verbal Reasoning.
IELTS
IELTS is one of the most prominent tests used to demonstrate English language competency when applying to colleges and universities abroad or for permanent residency. IELTS consists of four sections: hearing, reading, writing, and speaking. IELTS has two exam formats: academic (for students) and general (for permanent residency applicants).
TOEFL
TOEFL is another prominent English language test used to demonstrate English language competency. The TOEFL exam consists of four sections: reading, listening, speaking, and writing. The exam lasts 116 minutes.
MBA Abroad - Scholarship
Taking an MBA course in a foreign country such as the United States, United Kingdom, Canada, or Australia can be difficult for any international student to afford. But don't panic, there are lots of MBA Abroad Scholarships available for studying MBA abroad.
Some of the most popular MBA Abroad scholarships are listed here.
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Scholarship Name |
Number of Scholarships |
Type of Scholarship |
Reward (INR) |
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Ontario Graduate Scholarship |
22 |
Merit-based |
8, 23,000 |
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Australia Awards Scholarship |
1985 |
Merit-based |
Variable |
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GREAT Scholarship |
103 |
Merit-based |
9,46,000 |
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Go Clean Scholarship |
1 |
Merit-based |
2, 64,000 |
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Debesh Kamal Scholarship |
- |
Merit-based |
1,05,329 |
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Forte Fellowship |
3 |
Merit-based |
18,63,000 |
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Hubert H. Humphrey Fellowship Program |
150 |
Merit-based |
Variable |
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BrokerFish International student scholarship |
1 |
Merit-based |
75,690 |
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Heinrich Boll Scholarships |
1200 |
Merit-based |
Variable |
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MBA Entrepreneurial Scholarship |
1 |
Merit-based |
Variable |
MBA Abroad - Specialisations
As the number of industries grows, so does the necessity for unique skill sets to comprehend the difficulties of each. Furthermore, picking an MBA specialisation is a significant professional decision, so proceed with caution.
Typically, the first year of the MBA degree is dedicated to core courses to lay a solid basis for all ideas. During the second year, one chooses to specialise in a specific subject.
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Specializations |
Colleges |
Average Annual Fees (INR) |
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MBA Marketing |
IUBH University of Applied Sciences, Germany |
12,,64,649 |
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The University of Newcastle, Australia |
18,86,288 |
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University of Sunderland, UK |
12,96,899 |
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California State University Los Angeles Campus, USA |
13,91,593 |
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MBA Finance |
Coventry University, UK |
15,54,514 |
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New York Institute of Technology, USA |
29,32,113 |
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University of South Australia, Australia |
20,78,263 |
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MBA Human Resource |
Pace University, USA |
29,66,340 |
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University of Bedfordshire, UK |
12,42,688 |
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The University of Newcastle, Australia |
19,16,712 |
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University of Sunderland, UK |
12,96,899 |
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MBA Supply Chain Management |
Colorado Technical University, USA |
11,18,082 |
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Kuhne Logistics University, Germany |
24,47,610 |
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University of South Dakota, USA |
14,76,324 |
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MBA Project Management |
Torrens University, Australia |
11,96,575 |
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Salem University, USA |
17,79,804 |
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University of Bedfordshire, UK |
12,42,688 |
MBA Abroad - Career Prospects
Whether there is a boom or a slump, demand for MBAs will persist. People with exceptional business talents will undoubtedly have an opportunity to demonstrate their abilities.
Finance: Corporate finance is one of the most in-demand jobs. One might be a Financial Consultant, Financial Analyst, Finance Manager, or Finance Director. At the start of a career, one might expect to earn anywhere from $55,000 to $78,000.
Finance and Economics: As the heart of financial activity, the United States has several chances in finance and economics. Here, one can work as a Portfolio Manager, Financial Consultant, or Director of Operations. In the early stages, salaries vary between $51,000 to $60,000.
Operations Management: There is an increase in demand for professionals with experience managing the line of operations in the manufacturing or service industries. MBA courses provide new approaches and skills to help organisations adopt new technology and develop profit-maximizing strategies.
Conclusion
In this article, we will discuss various aspects of MBA abroad, such top MBA courses abroad, eligibility requirements for studying MBA outside India, specialisations in MBA courses in foreign universities, scholarships for MBA courses outside India, and much more.
If you are mulling over the possibilities of an MBA outside India, be sure to weigh the benefits of this program in the context of your education and professional aspirations. Be clear as to why you want to pursue it, what are your goals/dreams and how an MBA will help you in achieving these.
FAQs
Q.1. What are the qualifying requirements for pursuing an MBA abroad?
Ans: To pursue an MBA abroad, you must hold a bachelor's degree from a recognised university. In addition, three to five years of work experience are required.
Q.2. Is the GMAT required for admission to MBA programs abroad?
Ansr: Yes, GMAT is required for admission to top overseas colleges. However, Anglia Ruskin University, Coventry University, the University of West London, and a few more would consider applicants for MBA Abroad without a GMAT.
Q.3. How much can one make after obtaining an MBA Abroad?
Ans: Earnings can range anywhere from INR 40 to crores.
Q.4. Is it possible to obtain an Online MBA from an Abroad University?
Ans: Yes, some of the best overseas colleges offering online MBA are:
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Fitchburg State University
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University of Massachusetts Lowell
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Texas Southern University
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Oklahoma State University
Frequently Asked Questions
