Aspiring candidates for management studies have abundant choices in terms of the courses offered. These options are not only limited to Indian institutes, but also include a large number of international universities. Although it doesn’t hurt to have a number of alternatives, it can also lead to much confusion. Indian candidates, in particular, are often seen debating whether to opt for an Indian program or pursue their MBA abroad.
Undoubtedly, each program has its merits and demerits. Studying overseas gives you exposure to global trends. On the other hand, Indian programs tend to be much more affordable and many also match global standards.
Here are a few things you should consider while choosing between MBA courses in India or overseas.
1. Duration of Programs
The traditional MBA in India is typically a two year program, but the 1 year full-time MBA in India is also gaining prominence, especially among experienced professionals. Most international programs are one year courses, other than the US-based programs which follow a two year curriculum.
2. Criteria for Selection
Indian institutes use competitive test scores such as CAT for acceptance into the traditional two year program. The candidates need not have any prior work experience. Most international programs have a number of eligibility criteria, such as soft skills, along with GMAT scores. Another important requirement is a work experience of at least 5 years. Similar requirements are applied for admission to the one year MBA in India.
Pursuing an MBA anywhere requires significant funds, as the fees for such programs are very high. In India, a regular MBA would cost anywhere between INR 5-20 lakhs, whereas an overseas MBA spanning just one year, can cost about INR 30-50 lakhs, including the living expenses. While studying in India is certainly the more affordable option, scholarships, and educational loans can ease the financial burden of studying abroad.
4. Career Prospects
Most Indian institutes have a reliable industry network, with great placement opportunities even for candidates without prior work experience. An MBA from a reputed institute is valued by most Indian employers. On the other hand, getting your MBA from an international institute makes your profile viable for jobs with international employers. Campus recruitments overseas however, are rarely as dynamic as in India.
The best way to arrive at a decision is to determine the program that offers the most benefits for you. Consider all of the points listed above and use the information to choose an MBA program that strikes a careful balance between your preferences and resources.
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