MBA is the most sought after master’s program. Both, fresh graduates and working professionals look for MBA courses to enhance their careers and avail greater job opportunities. But the main confusion lies in the fact as to which one they should opt for? Indian MBA v/s Foreign MBA. Here are a few distinctions that we have marked to make the choice a little easier for you. Let’s look at these parameters in detail.
Indian MBA- The placement process to secure job opportunities in Indian B-schools is relatively easier than foreign schools. This is because students here get an opportunity to interview with top companies right on the campus. The toppers at some of these B-schools also get multiple offers to choose from.
Foreign MBA-When it comes to the job placement process in a foreign setting, things work quite differently. MBA universities usually do not guarantee a job. Students have to put in some sincere efforts and reach out and network with their dream companies to land a cushy job.
Indian MBA- The traditional 2-year Indian MBA programs usually take in fresh graduates without any work experience
Foreign MBA– Foreign MBA programs do require candidates with great working experience. Candidates applying to the US MBA programs should have on average around 3-5 years of pre-MBA work experience while candidates who apply to the UK and Europe based programs should have an average work experience of 5-6 years.
Indian MBA- Majority MBA programs in India are still more focused on the theoretical aspects rather than practical applications. However, the top b-schools in India have made changes and are introducing new concepts and courses in the MBA curriculum.
Foreign MBA- The MBA course curriculum in the foreign states has a more practical approach where students are given case studies of various business entities and are asked to review those and come up with their solutions for the same. This helps the student understand how to apply something that he/she has learned theoretically into actual business practice.
Indian MBA- Class Contribution of Foreign MBA
With the traditional MBA in India, the candidates will have a class full of freshers. Despite the enthusiasm of a relatively young peer group, there would be very few who’ve had hands-on experience, so a lot of theoretical learning (as against practical learning) would be involved.
Foreign MBA- Class Contribution of Foreign MBA
A lot of Practical and insightful learning is derived from the varied perspectives shared by the batch mates who have had some great years of work experience. Having a more experienced peer group, which only possible with Foreign MBAs translates into better learning and gaining valuable insights through peers who’ve had industry exposure working in a variety of roles.
MBA FEES FOR TWO-YEAR PROGRAMS
MBA FEES FOR ONE YEAR PROGRAMS
Indian MBA– Indian MBA- For one year MBA programs, the basic tuition fees would be in the range of 20-25 lakhs. However, to this figure we need to add the taxes, accommodation charges, cost of meals, books, and course material and other related costs which would make the cost higher depending upon the program chosen.
Foreign MBA- The one-year programs would cost slightly less in the range of Rs 40 Lakhs to Rs 50 lakhs. To this, you need to add the cost of living, medical insurance, books, and transportation.
PERSONAL GROWTH AND GLOBAL OUTLOOK
All in all, both traditional and foreign MBA have their merits and demerits. Which ones better for you depends upon how many of these parameters you tick according to your preferences.