The business environment today is working on the basics of ‘Globalization’. The influence of this newer entity has altered the measures of the corporate world around the world for the method, technology, psychology, work culture, mindset, etc. Thus, it is extremely important to recognize the civilizing differences and the ways of working effectively in different societies.
Pursuing further studies abroad may actually prove to be an inspiring experience from the opinion that student learns new languages, experience different traditions and make a more refined global view. Among different courses which a student may choose, a career in management or MBA is among the most demanded careers. The reason for it is that the candidate learns the organizational culture and behaviour at the international podium and from the lecturers who are from different nationalities.
Why MBA Abroad?
There are some significant differences between the Indian degree and the foreign degree of MBA. The educational environment and 'MBA-experience' differs to great extent with different B-schools. Indian education structure helps in producing theoretically stronger managers with sound knowledge; while the schools abroad concentrate more on practical characteristics and give much broader perspective and exposure.
Scenarios Which a Student will Go Through While Studying Abroad: If you have plans to study MBA abroad then only reaching the destination won’t be good enough because there are many situations which you will face while staying in a new country. Let’s take a quick look at some scenarios which a student will go through while studying abroad
- The Student will Learn a New Language: All the international students who want to get MBA degree abroad will learn new languages because it can be really difficult for UK nationals to study in the France University if they don’t learn the local language of that country.
- The Student will Experience an Entire New Culture: Being a global student, a significant aspect which you will meet is the entire new culture. This new culture can associate with leaves, festivals, as well as general ways to greet or address people. Every state shares its personal culture and familiarizes yourself to that is the finest solution for the international students.
Despite these common aspects, there are some benefits associated while doing MBA abroad. Let us go through them:
The Benefits of Studying MBA Abroad
There are a couple of aspects related to the advantages one may attain from getting MBA degree abroad. The primary aspect is associated with cultural benefits and another aspect is associated with job prospects the student may think about for himself. Let’s take a quick look at the main advantages of getting your MBA abroad.
- Cultural Benefits: While studying and getting an MBA degree abroad, the students get an opportunity to learn new languages. It has been known as among the main advantages because being a student, you can find the particulars of that language and thus you will feel comfortable while talking to nearly everybody in the campus. Getting an MBA degree overseas is eventually an enormous way of gaining organizational skills and an incredible way to find how dissimilar the customs are as you will interrelate with people from different countries and exposed to them.
- Effect on Salary: People may agree or not with the fact that people normally compare success to their salary as well as profit packages and the good news is there for the students doing MBA from abroad. If you are pursuing MBA from universities like for instance London Business School, you may easily expect very good first salary package. This university has accounted for 91% of employment rate for the MBA graduates. Therefore, if you are looking for the best salary packages then MBA abroad will be the finest option.
- Mobility and Career Growth: Experienced people of the industry state that the main goal behind doing MBA abroad is to enhance one’s career. It is quite right with the fact that getting a management degree overseas will certainly give you a broader platform for learning and growing both culturally and academically. Getting such exposure can surely give the international students ample confidence to do well and continue their success for a longer time period. In this way, the mobility and career growth can be extended.
- Positive Employment Prospects: Different universities in the world offer certified MBA degrees for the international students and train them properly for the management and mid-level businesses roles. With these courses, the student becomes familiar with all the business areas including accounting, finance, Human Resource, etc. under the guidance of professors of different nationalities.
- Practical Knowledge: Most of MBA courses abroad are based on the case study that makes them lesser 'bookish', exciting and enjoyable to study. Even the statistical courses might make you believe about a rational viewpoint, having little calculations concerned.
- Strong Colleague Group: The classroom would normally have students from 10 to 20 different countries, having average work experience of more than 5 years. The cultural contact would definitely expand your outlook.
- Superior Self-Evaluation: Many colleges provide detailed interviews with psychometric examinations that let you find out for yourself and help you to make the finest career option for yourself.
- Wide-Ranging Scope: Your career prospects become better because you have the alternative of working abroad or back home.
- Worldwide Network: Many top graded schools are more than 100 years old and that provides you with a large and strong alumni network. You can attach to the business around the world.
Importance of MBA Abroad in India
An MBA degree from any alleged international university or college has much importance in India. Companies wish to increase their business and while going to appoint MBA graduate that has been in foreign countries and learned all the international standards about organizing business and recovering profit, they won’t think much and hire him or her immediately with an indisputable salary package.
It gives them an edge over its competitors. It has been a conventional protocol which says that universities and colleges in the foreign countries are always better than Indian institutes and colleges because the pattern of study in the country as well as abroad are totally different and the curriculum of each subject consists of more practical coverage than the Indian curriculum. Therefore, an MBA degree from abroad has incredible value in India.
MBA Abroad VS MBA in India
Students who want to attend the postgraduate management course often get themselves in a difficulty as they don’t understand should they get MBA degree from India or should they go for the MBA from abroad? The excitement of getting MBA degree from an alleged abroad university is undeniable.
- Decide your Expectations: You can’t get any suitable answer for the decision you take about pursuing MBA from India or abroad because all rely on your professional and personal expectations and which educational course is more suitable for you.
For example, if you are planning to have a specialized career and management position with an Indian firm, then you definitely need to think about doing MBA from any prominent Indian B-schools. Potential employers have the value of domestic management degree. Besides that, your contact network will mainly increase from Indian classmates who can help you land the position that you wish or set you with their personal contacts in order that your professional aims can be achieved.
In contrast, if you want to pursue an international career and develop a worldwide business outlook, your finest option is to do MBA abroad. This will offer you a chance of being associated with a multicultural and multinational environment. Unsurprisingly, your contact group will have people from all corners of this world and it can open doors for nearly everywhere.
- Revolutionary Approach: If you think about the future viewpoint then you have to think about the reality that India is a fast developing economy and corporate world value the talent existing here. Actually, people choose India to become a part of this fast-growing economy. Recently we have seen a wide increase in the NRI people returning to India. With this scenario, this makes sense to have a management degree from the Indian B-school.
There has been a consistent increase in the tie-ups among the Indian and overseas universities. Few of them include tie-up between SP Jain Institute of Management & Research and Virginia Tech, Indian School of Business and Wharton School-Kellogg School of Management, Welingkar College and Temple University, and tie up between Institute of Management & Technology and Fairleigh Dickinson University. Therefore, with more premier global institutions making their way towards the Indian subcontinent, one can understand the advantages of international education at a lesser cost.
Furthermore, the Indian management courses have grown and expanded considerably in the recent past. MBA applicants from the Indian Business schools have shown their determination in the worldwide working environments and provided higher positions in many organizations. Thinking about buying power parity, preliminary expenditure, preliminary placements, as well as an increase in salary like decision inputs, MNCs have to come to India to look for the senior and middle management talent.
- Individual’s Ambition - Motivation to Go Abroad for MBA: Let’s look at some of the ideas which can end all your dilemmas. You should consider all these points and then you will get a particular answer which can help you to decide whether to do MBA in India or Abroad.
- Best Infrastructure and Faculty Available: No explanations are required about the fact that abroad institutes, colleges, and universities have much superior infrastructure and facilities than Indian institutes, colleges, and universities.
- Financial Reward: The earnings package which you will get after doing MBA from abroad has no matching with what has been offered after doing MBA from India. So, your financial potential also plays a very significant role in the decision-making.
- Global Coverage with Blue-Chip Companies: If your favourite companies are well-known blue-chip companies, then you should go for abroad MBA as many firms won’t come for the placements in Indian institutes and colleges.
- International Career Goals: If you are having international career goals, you should do MBA abroad and not in India.
- One-year Course: Mostly the conventional MBA courses abroad are of one year which saves ample time compared to any 2 years conventional MBA course in India.
- The Aspiration to Stay Abroad: If you are planning to stay abroad, you have to do higher education there because their companies and firms will prefer the candidates that know about the work environment and culture of the country and have experience about it. Therefore, it's good to pursue studies abroad if you have plans to settle there.
Eventually, it comes to your personal opinions, your abilities, goals, and aspirations. Obstacles are part of every body’s life and they will always stay so the finest solution is facing them with the guts and intelligence. Getting a management degree abroad may be demanding however if handled thoughtfully nothing is as rewarding as this. Whether they are financial hurdles or cultural barriers, things may be restructured if research about the universities is done appropriately and flexibility is inculcated.
