Master of Business Administration is one of the most prestigious and sought-after degree courses all across the globe. If you’re looking for a degree that will equip you with practical knowledge of the corporate sector, MBA is just the right choice for you!
MBA offers various alternate paths to technical business opportunities, and strategic & decision-making expertise. It also intensifies the managerial experience.
Furthermore, studying MBA brushes up your soft skills and helps you gain expertise to handle business and other segments constituting it.
Being a globally recognised program, MBA is generally considered as the leading qualification for ambitious individuals, for it promises indispensable knowledge that can be utilized in more ways than one.
Like it is the norm, when you pursue an MBA degree from abroad, you stand to gain the best practical knowledge, and relatively better employment opportunities, and the possibility of a permanent residency in international countries like U.S., Australia, Canada, and New Zealand.
It is advisable that you select the university and the type of MBA in alignment with your personal goals. This is of critical importance because the university’s reputation helps in opening many doors to various career prospects and avenues.
Henceforth, it is necessary to make an intelligent and informed decision, before applying. The article gives insights into the brightest and best countries to study MBA Abroad.
To give you a head-start and some basic information about the different MBA programs all around the world, we have listed the topmost international education destinations, giving you plentiful opportunities to fulfill your dream of studying MBA abroad.
Study MBA In The United States of America
MBA was initially started in the United States and is among the most popular fields of education at the post-graduate level. Their programs offer a comprehensive outlook of varied areas of management and business. You are provided with ample growth and career opportunities along with relatively higher salary packages.
Costs: MBA in the United States has outgrown the rate of inflation. Getting into an MBA programme has associated tuition expenses as well other costs. If you wish to join the private business institutions, total cost can accumulate between $100,000 – $200,000 (66, 00,000 – 1, 30, 00,000 INR), for just over a period of two-years.
Being among the world’s leading study destinations, USA houses several universities that provide worldwide MBA degrees and follow a curriculum that intensifies your core business experiences and overall personality.
Top 5 universities offering MBA programs in the United States are:
- Harvard Business School
- Columbia University
- The University of California – Berkeley (UC Berkeley)
- Stanford Graduate School of Business
- University of Chicago
Study MBA In The United Kingdom
An MBA degree from the United Kingdom will provide you with an exposure to varied aspects of the business world, including areas such as finance, marketing, human resource and administration. All the business programs in the UK universities focus on practical exposure that helps you to understand the subjects in a comprehensive manner.
Studying in the UK will enhance opportunities for your career along with a relatively higher earning potential. Some of the universities/institutions in the U.K. organize internship programs as a part of the course curriculum.
Costs – MBA in the United Kingdom can be an expensive exercise, when studied in top Universities like the Oxford and Cambridge. A one-year MBA degree can cost you between £10,000 – £15,000 pounds (9, 60,000 – 14, 00,000 INR) on average. While studying in Oxford and Cambridge will probably cost you up to £45,000 (43, 00,000 INR). However, some universities offer lower tuition fees with equal focus on quality education.
Some of the leading and prestigious institutions that offer an MBA degree in the United Kingdom are as follows:
- Oxford University
- The University of Warwick
- University of Edinburgh
- The University of Manchester
- Durham University
Study MBA In Canada
Canada is the third-most renowned MBA destination in the world. The country has ample of employment options for MBA graduates. The country has transformed and developed into one of the most intellectually stimulating places for higher education.
Studying in Canada exposes you to top-notch education and creates a focus on corporate social responsibility, international business, leadership, and management. MBA courses in Canada are often emphasized by internships, international exchange programmes, professional certifications, and specialization areas.
Costs: MBA in Canada can be expensive as well as moderate, depending on the city you choose. The tuition fees vary from Canadian Dollar $ 10,000 to $ 25,000 annually (5, 20,000 – 13, 00,000 INR). Some Canadian Universities may charge you Canadian Dollar $ 35,000 (18, 00,000 INR) for an entire course. MBA programs in Canada are generally of up to 2 years. The average cost of living can range from anything between $600 to $800 per month (32,000 – 42,000 INR). Cost of living can be comparatively higher in bigger cities like Toronto, Vancouver, Montreal.
The leading universities offering MBA programs in Canada are as follows:
- Mcgill University
- The University of British Columbia
- University of Toronto
- University of Alberta
- Dalhousie University
Study MBA In Germany
Initially, Germany was not relatively popular to the MBA game, but with German universities offering the degree of choice for executives, the credence of the MBA has increased. It has now become one of the most promising nations for MBA that will guarantee you subject field expertise, high-quality education, and excellent business administration training.
Many Business Schools are an outcome of collaborations between private universities and companies. Germany is the largest economy in Europe and has the highest trade surplus in the world, which makes for an attractive incentive for any potential MBA candidate.
Costs: Tuition fees in Germany is relatively low as compared to the other countries. You can be charged €100 to €2000 (7,500 – 1, 50,000 INR). Additionally, German universities do not differentiate between students within or outside of the EU/EEA countries. Regardless of their nationality, students pay the same tuition fee. This fee is subsidised by the Government. For instance, an MBA program in Esslingen has an actual value of over €30,000 (22,00,000 INR) per student.
Below are the top 5 German B-schools which offer MBA to the students:
- University of Mannheim
- WHU – Otto Beisheim School of Management
- HHL Leipzig Graduate School of Management
- Goethe Business School
- ESMT – European School of Management and Technology
Study MBA In Australia
Taking up MBA in Australia, full-time, part-time or online can prove to be an essential step in the development of your professional capabilities along with making a significant contribution to your personal growth.
Australian MBA programs are known for their flexible response to the evolving business environment and its need.
It is a popular student destination, and the number of the international students are likely to increase after the Australian Government’s recent decision to lower the visa assessment levels for 38 countries, including India.
Indian students make up more than 9% of Australia’s student population. The revamped rules for the new visa application process require international students to show less documentation and less proof of financial support, which works to the benefit of the students.
Costs: Education in Australia, contrary to general belief is very affordable. Various scholarship opportunities funded by the Australian Government and private schools are also available for international students. After expanding to more than 8% i.e., from $40,671 (21, 00,000 INR) in 2014 to $44,200 (23, 00,000 INR) in 2015, the average MBA for full-fee paying domestic students increased only marginally to $44,866 (24, 00,000 INR) in 2016.
The top 5 universities in Australia offering MBA degrees are listed below:
- Melbourne Business School
- University of Sydney Business School
- University of New South Wales
- The University of Queensland
- Monash University
Study MBA In Singapore
Singapore is increasingly becoming a popular destination among international MBA aspirants. Combined post-graduate courses in management and engineering are the most sought after for students from South-Asia.
With the highly affordable education along with the world class universities, Singapore has undoubtedly put itself on the map of global education.
The visa application process is also very straightforward and hassle-free. Additionally, institutions from the U.S.A., U.K., and Australia have initiated satellite campuses in Singapore to offer their courses at a subsidized rate.
Costs: Education in Singapore is quite low in comparison to other countries like U.S.A., Australia, etc. It varies according to the Institute, programs, and duration of the course. You might end up paying S$18,500 to S$ 30000 (9, 10,000 – 15, 00,000 INR) of the Master Degree Course. An average cost of living in Singapore is S$750 to S$2,000 (37,000 – 99,000 INR) approximately per month. While the cost of health insurance will approximately be S$45 per year (2,200 INR) and it will cover all your medical expenses while studying in Singapore.
The Top 5 universities in Singapore offering MBA degrees are:
- National University of Singapore
- Lee Kong Chian School of Business, Singapore Management University
- Nanyang Technological University
- European Business College
- SIM University
Study MBA In New Zealand
New Zealand has been shadowed by its larger neighbour Australia for many years. In the last few years, it has risen in popularity as a tourist destination.
Indian students have now become more aware of the educational options available in New Zealand. It has built a strong reputation for quality and excellence across the world.
New Zealand universities providing MBA programs strengthen the career prospects of students. You are likely to have great opportunities to study the global economic working of various industries.
Costs: The approximate living costs for the Indian Students in New Zealand are about NZ $ 12,000 (5, 50,000 INR), which comprises of accommodation as well as other daily expenses. However, the costs are different for different people depending on the lifestyles. The MBA tuition fees for regular students will approximately be NZ$35,440 (16, 00,000 INR).
Some famous MBA universities in New Zealand are listed below:
- AUT University
- The University of Waikato
- UUNZ Institute of Business
- University of Canterbury
- University of Otago
Study MBA In Italy
The beautiful country of Italy is fastly becoming a sought-after choice for MBA aspirants. It houses some of the most prestigious and the oldest universities in the world. Education in Italy provides you with the finesse of managerial expertise in English along with an opportunity to learn a new language (Italian) at the same time. Along with the history attached to it, the panoramic scenery and the vibrant food culture, you should definitely consider studying MBA in Italy.
Costs: The tuition fees for an MBA course ranges according to the kind of program, be it part-time or regular. The fee structure ranges anywhere between € 20,000 and € 40,000 (15, 00,000 – 30, 00,000 INR).
The following are the top Italian universities offering MBA programmes:
- The University of Bologna – Bologna Business School
- Rome Business School
- SDA Bocconi School of Management
- MIB School Of Management
- LUISS Business School
Study MBA In Spain
Spain is a rapidly developing country in terms of higher education. The relative popularity among the students who want to pursue MBA in Spain lies just behind Germany, France and Italy in the top 11 most favoured MBA education destinations.
If you want to understand the business affairs of not just Spain, but also other Spanish-speaking Latin America and the Caribbean, and understand the Spanish business culture, pursuing MBA in Spain will be the best choice.
Costs: The tuition fees are relatively lower than those in the UK and North America. The tuition fees for studying MBA in Spain will vary depending on different institutions. For instance, tuition fees can vary from EUR 18590 – 63035 (14,00,000 – 48,00,000 INR) per year. These are tuition fees for the public universities while the private universities have relatively higher tuition fees.
The best MBA Universities in Spain are as follows:
- IE Business School
- ESADE Business School – Barcelona Campus
- IESE Business School – Universidad de Navarra
- EAE Business School – Campus Barcelona
- Universidad Autónoma de Madrid
Study MBA In China
If the latest trends are anything to go by, MBA aspirants, in large numbers, are choosing China as their destination for a good MBA programme. You will have several opportunities to meet Chinese business elite and get connected to the future leaders. Applying for a study visa in China is also not a logistical challenge as compared to other countries. There are certain additional reasons why you should choose China for MBA education. These include career prospects, salary, and networking.
Costs: The tuition fees vary depending on study topic, university, and level of education. You might be required to pay between the ¥30,000 and ¥40,000 (300,000 – 400,000 INR) per year for tuition fees. It is significantly lower than many European and North American university tuition fees.
There are also some secondary costs you will have to pay when you arrive in China, such as insurance (about ¥100) and medical examination fee (if not already taken in the home country; it alters depending on the location – for Beijing it’s around $100).
Top 5 universities offering MBA In China are listed below:
- Fudan University – School of Management
- Tsinghua University
- Shanghai Jiao Tong University – Antai College of Economics and Management
- Hult International Business School – Shanghai Campus
- Sun Yat-Sen Business School
Study MBA In France
There is a broad range of career options for MBA Graduates. France, along with Spain and Germany, is among the European nations that come after the United Kingdom for the number of established MBA employers in the market.
Costs: The tuition fees vary from institution to institution and also between the programs. The fee can vary greatly depending on whether the university is public or private.
Private institutions may charge you a tuition fee of about € 5,000 to € 15,000 (2, 80,000 – 11, 00,000 INR) for a single program. The tuition fee of a national diploma from a public university might range from € 250 to € 1, 200 (20,000– 90,000 INR) per annum.
Below are the five universities in France offering an MBA program:
- HEC Paris
- INSEAD – Europe Campus
- ESSEC Business School
- IÉSEG School of Management
- International School of Management (ISM) – France
There you have it! If you are planning to pursue an MBA course from abroad, now you know what the global preferences of your peers and fellow students are.
To reiterate, it is essential to make an informed decision at this stage, and choose a country and university based on your area of interest, and not simply what is considered the best by everyone else.
Undoubtedly, studying abroad will give your career a push in the right direction, but you need to make sure that the efforts are focused in the right direction, and the first step to do the same is to select a country, university, and programme, that suit your capabilities, budget, interest, and vision.
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