Understand the Main Pro’s and Cons of Studying an MBA AbroadOctober 28, 2022 2022-10-28 5:06
Understand the Main Pro’s and Cons of Studying an MBA Abroad
Understand the Main Pro’s and Cons of Studying an MBA Abroad
A Master of Business Administration (MBA) degree can help you advance your career in several ways. There are many reputable and internationally ranked MBA abroad programs.
If your goal is to break into the sector of global business, then earning an MBA abroad is an amazing opportunity to begin. Finishing this degree in a foreign country will not only introduce you ties to local organizations and experts but also to classmates from a variety of backgrounds. Earning an MBA abroad has many advantages, but there are also a few drawbacks.
H2 Tag: What are the Pros of pursuing an MBA Abroad Degree?
You will get global exposure in the Business sector. Additionally, it allows you to enjoy exclusive operating patterns and the way how certain businesses work. Business, in any case, is all about networking so, an MBA abroad is an excellent choice, to begin, cultivating your professional community.
Business Schools give students a chance of being at the epicentre of all worldwide changes giving them a global outlook as well as assisting them to understand the way to meet industry requirements.
Top-notch Training and Education:
Having earned an MBA from a prestigious organization in the world complements your universal profile and can boost your profession forward. Top Business and Management schools across the world offer a variety of specializations to select from so that you can build a solid career within the field of your interest.
America, Canada, Australia, and the UK are some of the extra popular international study destinations which house almost 60% of the industry’s top universities. Germany, South Korea, Japan, Finland, Switzerland, and Israel are among the nations with a remarkable amount set aside for research students.
The Opportunity of working abroad:
One massive benefit is that you will be capable of learning about new cultures to help you in future work opportunities. If you plan to relocate abroad for a longer period (or completely!), doing an MBA overseas potentially offers you the right to stick around for a year or extra after your graduation (with a post-study work visa).
You can look for work during this period and can ask your corporation to sponsor you so that you can transition to a more permanent visa after the restriction on your period of visa for the study is up.
- Upskill and Job Growth:
You can work in many multinational corporations in foreign countries and receive a competitive average salary compared to your home country. And the fact that you have an MBA from one of the world’s top business schools can help you gain the employer’s trust and credibility in you and your abilities.
And since you received a high-quality education at your university with the necessary skills, such as problem-solving and leadership skills, that majority of employers seek, you can make progress in the company and receive frequent promotions and bonuses.
What are the Cons of pursuing an MBA Abroad Degree?
Barring the fortunate few who are capable of securing some form of funding assistance – fellowship, scholarship, graduate assistantship – the rest must shoulder the value associated with their choice to have looked at an institute overseas.
Tuition fees itself can cost you around $50k-$70k, depending on the degree and institute. Other than the lessons, the living expenses are an additional financial headache. The Rent, Meals, travel, and other ancillary costs can be a struggle. And on top of that, the immigration restriction on when and where a student can work under a student visa is also a factor.
Tough to get Admission
Another disadvantage/ Con of trying to study in a foreign university is that it can also be quite tough to get admission. Some foreign universities which offer MBA degrees have strict admission guidelines and require work experience of at least 2-3 years in the selected field after a bachelor’s degree to get admission.
Other requirements are the Entrance test- GRE/ GMAT scores, at least 2 LORs (Academic and Professional), English Proficiency test scores, an updated Resume, SOP, etc. These factors altogether decide your admission to the institute.
The unfamiliarity of a different society may be a cultural shock. Especially in case you are not able to adjust to it. Many students struggle to get to terms with customs that may be considered uncivil in their own culture. Addressing professors by their first names, as an example, is perfectly ordinary within the USA however understandably alien in India.
Universities are considerate of such emotions and often arrange seminars for students to be able to familiarize their new international recruits with the cultural behaviours which are common there. But the lack of suitable adaptability can create a bad case of homesickness and make life quite lonely in a foreign land.
Absence of Domestic Network:
Time spent abroad and building a global network of friends and colleagues is time lost from a professional and personal network in your home country.
If you decide to return to your home country, you will be at a disadvantage compared to your friends who stayed. This is particularly the case if you decide to pursue a career and move back home.
Top Countries with their Universities to study MBA Abroad:
- Mannheim Business School
- WHU- Otto Beisheim School of Management
- Frankfurt School of Finance and Management
- MIT (Sloan)
- The Wharton School of the University of Pennsylvania
- University of Chicago Booth School of Business
- London Business School
- Cambridge University Judge Business School
- Oxford University Said Business School
- HEC Paris
- ESSEC Business School
- Keio Business School (KBS)
- Waseda University
- Hitotsubashi University Graduate School of International Corporate Strategy (Hitotsubashi ICS)
- UNSW (AGSM)
- Melbourne Business School
- Monash Business School
- Graduate School of Business, Seoul National University.
- Korea Advanced Institute of Science and Technology (KAIST) – KAIST College of Business.
- Sungkyunkwan University
- IESE Business School
- Esade Business School
- IE Business School
Earning an MBA from an international university can help you advance your career and increase your earning potential. Any employer will be impressed by your new language skills, cultural awareness, and vast international network.
But your decision should be supported by foresight into your plans for the future. Obtaining a foreign degree solely to experience life abroad, without the benefits of having invested time and money into becoming an international graduate, can be counterproductive.