MBA Abroad: Is it worth the money?

navin_c

navin_c

Par 100 posts (V.I.P)
Even by the most conservative estimates, pursuing an MBA degree abroad would set you back by at least Rs. 10 lakhs, if you have to shell out the money on your own. This could go up to as much as Rs. 30 lakhs for the top U.S. B-schools. Financial aid is limited, and comes with strings attached. Given the exorbitant expenditure involved, is it really worth it?

The answer depends on a lot of factors, and ultimately, has to come from you. We can help you evaluate the scenario by laying out these factors before you. The factors have to be considered in conjunction with each other, rather than in isolation. Weigh them carefully, and decide to what extent each factor is applicable to you.
 
1. How much would it pinch you?

MONEY! This, of course, is the bottomline. Start with the assumption that you are not going to get any scholarship, as getting financial aid for an MBA program is really tough. Then look at the resources at your disposal (could be your own bank account, or your parents’, or any benefactor you may have)

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If you have sufficient funds (Rs. 10-15 lakhs), our recommendation is: just go ahead. It’ll surely prove to be money well spent – the experience itself is great!
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If you can spare some amount (Rs. 5-6 lakhs), you could still consider going, as you’ll be able to manage the first few semesters on your own. Once you’re there, you’ll have to find ways to raise some money (most Indian students manage this, at least the smart ones certainly do!)
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If you are constrained on cash, but can manage a bank loan, it still makes sense to go ahead. However, you must be confident that you will do well in the program and manage to get a job. (Jobs are really hard to find in places like Australia and UK).
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If you don’t belong to any of the above categories, how about trying for an Indian MBA?
 
2. What are your alternatives?

Quote : 'The choices you make decide the life you lead'.

A lot depends on what options you have here.

If you’ve been toying with the idea of going abroad for an MBA, what are the other options that you have? Would you rather do it from a top-rung Indian institute, like the IIMs? Well, the answer totally depends on your aspirations.

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If you’ve cracked the CAT, go for it. The IIMs are among the best in the world. However, if you have to choose between IIM and a top institute like Harvard or London Business School, it makes sense to choose the latter. The exposure and contacts that you’ll get in a top school are simply unmatchable.An M.B.A. from a top-rung B-school will almost certainly propel you in the global job market, and you’ll soon be on your way to the top of the ladder.
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If your choice is between a mid-tier B-school abroad and an average Indian institute, it makes IMMENSE sense to go abroad. The mid-tier schools abroad offer much better career prospects. An MBA from a mid-range U.S. B-school also has fairly healthy prospects, given the buoyant state of the US economy in the last few years.
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If you have close relatives abroad, who can help you with funds and/or getting you an employment on completion of your MBA, you are in an enviable position. However, make sure you talk to the relatives before you apply.

However, unless you have the ways and means to find yourself an employment, we would not recommend going to just any U.S. B-school that you can get into.
 
3. What do you plan to do after the MBA?

This is probably the most important criterion.

The critical question is : DO YOU WISH TO SETTLE THERE?
50% of the people who come to us say “yes” to this. The other 50% say they’ll come back, after staying on for a few years.
Ultimately, very few come back.

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If you are sure of taking up a job abroad, rather, managing to get yourself a job, then it makes sense to even take a loan to go abroad for an MBA. In all likelihood, you’ll repay the loan within a year. (Going by the average salaries Indians manage after their MBA).

This is applicable mainly to the US & Canada. Getting a work permit in Australia is very difficult. UK has recently allowed international MBA students to work for two years.
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If you’re planning to return to India immediately on completion, you should think twice before going, unless funds are not a consideration for you.
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The often-asked question is : how valuable is the international MBA degree in India? The answer depends on which school you do your MBA from: a Harvard degree will command respect anywhere in the world. If you’re from a middle-rung school, you’re as good as an MBA from a mid-rung Indian B-school.

The final word: you can spend all your money, take a loan, get into the best school, do whatever; ultimately what matters is how well you can "market" yourself. That’s what will get you the "big bucks!"
If you would like to discuss your personal profile and case with other MBA aspirants, you can use the MBA section of the Infozee discussion forums. Your post would be seen not just by counsellors and existing students, but also by many MBA aspirants just like you:
 
In an integrated world, with growing awareness, study abroad is becoming increasingly popular.

Generally, Studying abroad is an excellent way to intellectual & personal growth, a way of getting to know the world. Exposure to different cultures n challenges of a new academic envrnmnt makes a person more independent n mature. One learns to easily adapt to new circumstances & cultural contexts, which is a valuable life experience.

Thats y u see many graduate students prefer to do MBA abroad.....
 
The bottomline is an MBA abroad is worth the money. Even if you spend 15 lakhs doing an MBA from a good school, you will recover the money within a year of passing out. Start thinking like a business manager even before your MBA.
 
MBA in abroad (top 25 ) is really worth spending money on...It gives the highest return on investment...this u'll realise after 10 -15 yrs..when u'll be at top of the co.
 
See worth the money can be classified into two types.When you get better ROI then it is worth the money.Second type when you feel happy for having spent the amnt then it worth spending.It depends on the individual to classify which type they are.If they feel happy about having a MBA so that they are having a good learning then they fall into type :2.When ppl are able to take back the invested amnt in some yes time then they also feel tht it is worth spending.Attitude matters.There is no yardstick to measure the worthiness of an MBA.


-Deepak.
 
Many ppl pay the same for Management Seats here, so its really better to go an International exposure. Even preety new colleges start commnading 5Lacs plus in Second year, in Mumbai itself.

So, if u can manage 5-8 Lacs, its worth it. Remember, since we live only once, make the most of it. Its a kind of experience not everone can get. Compare it to Rural India, which wants to be in Mumbai and City Colleges n Life.

If u r determined, there wont be any problem lest one gets carried or blown up in US way of life. USA is just like Mumbai, one wud start earning side by side.
 
chandoo.upadhyay said:
mba abroad is really expensive in top international college the education fee is $70,000to more
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ya but if do ur mba from a GOOD uni ne where in the world i feel it pays uu back in short time and the benefits u can enjoy for a life time.neways i admire ur opinion.thanks
 
yshah84 said:
MBA in abroad (top 25 ) is really worth spending money on...It gives the highest return on investment...this u'll realise after 10 -15 yrs..when u'll be at top of the co.
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hmmmm.dats rite dude but dont u feel lot of luck factor plays in.ne ways thanks and i admire ur thoughts.
 
born2rule said:
liked ur saying squareleg.(Remember, since we live only once, make the most of it. Its a kind of experience not everone can get. Compare it to Rural India, which wants to be in Mumbai and City Colleges n Life).

ppl go abroad for doing their mba cos they dont get
admissions here...if dats d case then its worthy investing such a huge amt in studies..but if the same education you can receive here,,then y wud ppl go abroad...
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Not all ppl buddy, many go to foreign instiututes by choice. Just Like many foreign students hav started comin over here. Yes, the application n admission ratios, r favourable for getin in International Colleges, its bit more difficult here coz of our POPULATION.

Even if its same education, same books its sheer exposure tht maks the difference, beign in unfamiliar territory, wid ppl from diverse nations n backgrounds that u find in Stanford, London School of Business, Kellogs. Plus the Teaching is highly Personal in nature or say customized. Its not like here same education, same paper, same marks.

Here u will be pretty same, Your outlook changes moment u mention anything of Intl Std, like the craving for Imported products we have.

So even if Raymonds delivers superfine fabric, ppl go for Van Huesens, Arrow, Allen Solly, whose real range starts way above, higher range of Raymonds. Offcourse affordability remains an issue and not Return on Investment.
 
Agreed with all the the posters who says that MBA from abroad is worth the money.
BUT is it really worth the effort. An MBA post grad is suppose to be a person with an overall personality, Which cannot be built by just a two years corse. afterall it takes years to shape on self.
The point i am trying to make is MBA from abroad is all bout rich people throwing money, enjoying life for two years and passing out with a MBA degree or certificate. if it becomes so easy wat will happen to the real aspirers.( i am talking about the 90% non top clgs abroad )
 
agarwal.ankit23 said:
Agreed with all the the posters who says that MBA from abroad is worth the money.
BUT is it really worth the effort. An MBA post grad is suppose to be a person with an overall personality, Which cannot be built by just a two years corse. afterall it takes years to shape on self.
The point i am trying to make is MBA from abroad is all bout rich people throwing money, enjoying life for two years and passing out with a MBA degree or certificate. if it becomes so easy wat will happen to the real aspirers.( i am talking about the 90% non top clgs abroad )
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what ever i have seen uptill now rich or poor all ppl take loans their parents make a point that their children them selfs to repay the loan.when a person is given responsibility to repay the loan i dont think the person could enjoy two years and come back, they become a better individual.
 
only if you are going into a good b-school like harward, london school of business, etc then it is worth money otherwise mba in India is much better
 
pahuja.chirag said:
only if you are going into a good b-school like harward, london school of business, etc then it is worth money otherwise mba in India is much better
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hey thanks for ur valuable thoughts. i just want put forward when compared a pay package of mba from india and mba from abroad its always seen dat a person done mba from abroad gets a higher paid job.........pls comment on it it would be very helpful to us.........neways thanks bye tc.
 
in current scenario doing mba from abroad will not make a lot of difference so to make a lot of money in there is not advicable
 
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