MBA Abroad Eligibility and Exams for Indian Students to Study in 2024

A bachelor's degree from a recognized university and 2-3 years of work experience are the well-known MBA abroad eligibility. However, universities often have additional eligibility for MBA abroad programs that include language proficiency and good scores in exams like GRE, and GMAT. Understand in detail about MBA abroad, its eligibility and the exams required for admission process in this article.

Related Read: MBA vs MiM

Why Study MBA Abroad?

Every professional who wants to move ahead in his career thinks of pursuing an MBA at some point in time in his or her career. No student wishing to study Master in Business Administration abroad will miss a chance of going to study at his or her dream college. Pursuing reputed MBA courses in foreign universities will bring you closer to your dream job. A job abroad will offer you higher earning potential or an attractive pay cheque.

Reasons to Pursue MBA from Abroad

There are several reasons why someone would decide to get an MBA from abroad. Here are a few of the most frequent causes:

1. Work Opportunities- An MBA from abroad can improve your chances of finding a job that pays more and offers more opportunities for promotion.
2. Career change: If you want to change jobs, an MBA from abroad might be extremely helpful. Your degree may provide you with new abilities and information that may aid in your move.
3. Enhances personal branding: Earning an MBA from a reputable foreign institution aids in enhancing your reputation among colleagues in the profession.
4. Develops managerial skills: Earning an MBA from abroad will provide you with the leadership, collaboration, communication, and decision-making abilities necessary to effectively manage teams and organisations.
5. Specialization in a variety of fields: MBA programmes provide you with the option to focus on a particular business discipline, including marketing, operations, finance, or entrepreneurship.

Overall, earning an MBA from abroad may be a smart career move and provide you with the contacts, know-how, and expertise to help you reach your professional objectives. In this article, we will cover various aspects of MBA outside India including the answer to the question, “How to pursue MBA from abroad?”, top MBA courses in abroad, eligibility requirements for studying MBA outside India, specializations in MBA courses in foreign universities, scholarships for MBA courses outside India, and much more.

Other benefits of studying abroad:

• Career Advancement
• Excellent networking opportunities

Every business administration aspirant wants to get enrolled in the topmost business colleges and universities abroad. If you are mulling over the possibilities of an MBA outside India, be sure to weigh the benefits of this programme in the context of your education and professional aspirations. Be clear as to why you want to pursue it, what are your goals/dreams and how an MBA will help you in achieving these.

Related Blogs:

Cost of Studying in Germany	Cost of Studying in France	Cost of Studying in Canada
Cost of Studying in Australia	Cost of Studying in US	Cost of Studying in UK

MBA from Abroad Eligibility and Requirements

How to pursue MBA from abroad? A bachelor's degree from a recognized college is required by all the universities offering Master of Business Administration programs abroad. Some universities also have other requirements like work experience. Although, not all educational institutes ask for work experience. Before applying, it is always good to check the eligibility criteria of the college to which you are seeking admission.

1. Academic Requirements

Reputed colleges prefer a full-time bachelor's degree from a recognized institute. We have also mentioned other academic requirements below.

• A bachelor's degree from a recognized university is the most basic requirement for getting into an MBA program
• A GPA of 3.0 or above on a 4.0-point scale, will still vary per university.

2. Work Experience Requirements

Substantial work experience is desired by the top universities offering MBA courses abroad. Although there are schools where an MBA is offered without work experience; however, it is always an added advantage to have relevant work experience. Apart from the academic record, foreign institutions look for candidates who can add value to their colleges and benefit most from their programs.

3. Application Requirements

Applying for an MBA in a foreign university is a very big step for your professional life. A bachelor's degree or its equivalent from a recognized educational institution is mandatory for applying to an MBA programme. Some other application requirements are mentioned below.

• Resume
• Reference letters
• Essays (as demanded by the university)

4. Application Process

We have summarized the application process for you below. Also, make sure to look for colleges/universities at least 12 months before seeking admission.

• Course/ country selection
• Profile Evaluation
• Select a few universities where you are going to apply
• Start collecting the necessary documents

Read: How to Apply to Universities Abroad: Complete Series

5. Exams for MBA Abroad

To get admission to an MBA courses in abroad, candidates need to take standardized exams like GMAT and GRE. Find more details below:

GMAT

As an eligibility for MBA abroad, the GMAT exam is required by most MBA colleges abroad. More than 2,400 MBA and MIM colleges accept GMAT scores. When it comes to the GMAT cut-off for top B-Schools, most of them require a GMAT score of 700+. However, a GMAT score of more than 650 can fetch you a decent MBA college abroad. As for the GMAT pattern, the current version of the GMAT exam or GMAT Focus exam consists of Quantitative Reasoning, Verbal Reasoning and Data Insights.

GRE

The GRE exam was usually taken to study MS abroad. However, it has gained traction and importance as an eligibility exam for MBA abroad as well. Almost all the top MBA colleges abroad accept GRE scores. GRE consists of Analytical Writing, Quantitative Reasoning, and Verbal Reasoning.

6. English Language Proficiency Tests 

Language proficiency exams are accepted for MBA admissions abroad. Some of these ELP test scores include:

• IELTS
• TOEFL
• PTE
• Duolingo

As the exams vary based on the choice of course and university, candidates should know which exam to take for which course to study abroad.

MBA from Abroad VS. MBA in India

Even though there are numerous top-rated colleges in India still students choose to study Master of Business Administration (MBA) abroad. There are numerous factors because of which Indian students prefer to study abroad. Usually, more than 2 lakh students appear for the CAT exam in India. Compare it with the number of seats in IIMs which are just over 4,000. So, it is not just the stiff competition but also the array of opportunities that foreign education offers to students. Apart from this, Tier 2/3 MBA colleges in India have an outdated curriculum that is not in sync with the present-day industries' demand. This is where foreign institutes have the upper hand. An international MBA is more practical-oriented and collaborative in nature. Almost all B-schools are open to sharing the diversity of their student enrolments. At an international educational institution, one gets to learn to experience a diverse culture.

MBA Specializations

As there are different industries, demand for specific skill sets also increases to understand the challenges of that particular industry. Also, it is a big career decision for you, so, one should be careful while choosing the MBA specialization. 

Usually, the first year of the MBA programme is dedicated to core courses to build a strong foundation of all the concepts. In the second year, one chooses to specialize in a particular field.

• Marketing
• Human Resources
• Finance
• Information Systems
• Consulting
• Entrepreneurship
• Operations Management

Read more on MBA specializations here

MBA in Finance Abroad	MBA in Marketing Abroad
MBA in International Business Abroad	MBA in Human Resources Abroad

Top University & Colleges for MBA Abroad

Every Business Administration aspirant wants to be enrolled in the topmost business colleges and universities abroad. As one of the most sought-after courses, various reputed institutions overseas offer an MBA.

Harvard Business School, US	The Wharton School, University of Pennsylvania, US
Stanford Graduate School of Business, US	INSEAD, France
CEIBS, China	MIT Sloan, US
London Business School (LBS), UK	Columbia Business School, US
HEC Paris, France	Booth School of Business, University of Chicago, US
Kellogg School of Management, Northwestern University, US	University of California at Berkeley: Haas, US
IESE Business School, Spain	Yale School of Management, US
National University of Singapore Business School, Singapore	Dartmouth College: Tuck, US
Duke University: Fuqua, US	University of Virginia: Darden, US
University of Cambridge: Judge	HKUST Business School, China

(Source: Financial Times)

Popular Destinations for MBA from Abroad

It is not easy to determine the best country for an MBA, as various factors need to be considered. The US, the UK, Canada, Australia, Germany, and Singapore are some of the most popular destinations for studying for an MBA. It is important to choose the place to study wisely before applying. Choosing the right kind of programme that meets your requirements is an important step. However, for those who are convinced to apply to the topmost universities and colleges abroad, the challenge would be to find out the ideal institution.

Also Read: Top 5 countries to study MBA abroad

Scope of MBA from Abroad: Top Companies

Many MBA graduates have just one goal in mind while pursuing their degree - to work abroad. After spending huge money on studying MBA, it makes financial sense to work abroad. Apart from this, it also gives them exposure to working in a completely different setup. Is it worth doing an MBA abroad? An MBA from abroad from a good college can open opportunities for you. And if you have studied at a top college like Harvard or Oxford, then you have excellent career opportunities to choose from. Also, the majority of the overseas MBA programs allow students to stay back, so, they can work and get job experience. This is a great opportunity not just in terms of managing finances but also to give you significant work experience abroad.

Types of Job Profiles / MBA Abroad Jobs and Career Opportunities

Whether it is a boom or a downturn, demand for MBAs is going to be there. People having exemplary business skills will definitely get a chance to prove their talent.

• Finance: One of the most sought-after careers includes working in corporate finance. One can work as a Financial Consultant, Financial Analyst, Finance Manager, or Finance Director. One can earn anywhere between $55,000 to $78,000 at an early stage of their career.
• Finance and Economics: Considered the hub of financial activities, the US offers enormous opportunities in Finance and Economics. Here, one can work as a Portfolio Manager, Financial Consultants, and Director of Operations. The salary ranges from $51,000 to $60,000 in the starting stage.
• Operations Management: Nowadays there is a surge in demand for people having expertise in managing the line of operations in the manufacturing or services industry. The new methodologies and skills taught in MBA programmes help companies adopt new technologies and formulate strategies that maximize profits.

Country-wise Average Fees for MBA Abroad

Deciding which country is suitable for pursuing an MBA outside India is one of the toughest decisions the aspirant needs to take. One should always consider various factors like quality education, total expenses including tuition fees and living expenses, and ROI while selecting the country.

MBA Colleges in the US

Studying MBA in the US can cost you an average of INR 30.89 L (for 1^st year) including both tuition fees and living expenses.

University	Course Duration	Tuition fee (Approx) (for 1st year)
Stanford Graduate School of Business	21 months	$74,706 / INR 56,39,555
Harvard Business School	24 months	$73,440 / INR 55,43,985
Tuck School of Business- Dartmouth College	24 months	$77,520 / INR 58,51,984

(Tuition fee source: official university websites) (exchange rate of 1 USD = INR 75.49)

MBA Colleges in the UK

Pursuing MBA in the UK can cost you an average of INR 23.19 L (for 1^st year) including both tuition fees and living expenses. Also, one major factor that makes the UK different from other MBA destinations is that here duration for most of the MBA programs is one year.

University	Course Duration	Tuition fee (Approx) (for 1st year)
Imperial College Business School	1 year	£53,500 / INR 49,26,404
London Business School	15 to 21 months	£87,900 / INR 80,94,036
University of Cambridge	1 year	£57,000 / INR 52,48,692

(Tuition fee source: official university websites)  (exchange rate of 1 Pound = INR 92.08)

MBA Colleges in Canada

MBA fees in Canada can cost you an average of INR 25.93 L (for 1^st year) including tuition fees and living expenses. MBA in Canada is comparatively cheaper than other popular study destinations.

University	Course Duration	Tuition fee (Approx) (for 1st year)
Rotman School of Management (U of T)	2 years	C$59,450 / INR 31,98,409
Ivey Business School- University of Western Ontario	2 years	C$111,750 / INR 60,12,149

(Tuition fee source: official university websites) (exchange rate of 1 CAD = INR 53.80)

MBA Colleges in Australia

Annual MBA fees in business schools in Australia can be around INR 23.28 L (for 1^st year) including tuition fees and living expenses.

University	Course Duration	Tuition fee (Approx) (for 1st year)
Melbourne Business School, The University of Melbourne	12 months	AUD$89,500 / INR 43,75,519
Monash Business School, Monash University	2 years	AUD$44,000 / INR 21,51,093

(Tuition fee source: official university websites) (exchange rate of 1 AUD = INR 48.89)

MBA Colleges in Germany

When it comes to pocket-friendly tuition fees along with quality education, one always thinks of Germany. It is home to the best MBA colleges in the world.

University	Course Duration	Tuition fee (Approx) (for 1st year)
Ludwig Maximilians University Munich (LMU)	2 years	0
Frankfurt School of Finance & Management	1 year	€ 38,000 / INR 31,04,828

(Tuition fee source: official university websites) (exchange rate of 1 Euro = INR 81.71)

Note: Ludwig Maximilians University Munich (LMU) does not charge any tuition fee, however, students have to bear the other expenses approx. INR 1,17,410 for 1^st year.

Scholarships to Study MBA Abroad

Arranging a huge amount of funds for studying MBA from abroad can prove to be a daunting task. Therefore, students often look for scholarships for MBA to fund their education.

1. JN Tata Endowment for the higher education of Indians: This is not actually a scholarship but rather it is a loan that a student needs to repay within seven years of completing the graduation programme. However, the rate of interest charged is merely 2% and this is waived if the applicant repays it within the specified time. The amount of this endowment programme varies from INR 1.5 to 6 lacs.
2. Columbia Business School: The Board of Overseers China & India Fellowships: This fellowship is awarded every year to students from India and China and the funds can be renewable for the second year as well. These are awarded to students who have excelled in academics and professional careers.
3. Stanford Reliance Dhirubhai Fellowship: The Stanford Reliance Dhirubhai Fellowship is awarded to Indian students who require financial assistance to pursue an MBA at Stanford. Within two years of completing the MBA programme, students who availed of this scholarship need to come to India and work for an Indian organization.
4. Rhodes Scholarship- MBA: The Rhodes Scholarship is awarded to outstanding students from around the world to study at the University of Oxford. The Rhodes Scholarship is one of the oldest and most prestigious international scholarship programmes.
5. OGS Scholarships for International Students – MBA: Since 1975, the Ontario government, in partnership with Ontario's publicly assisted universities is offering Ontario Graduate Scholarships (OGS). This scholarship is applicable to someone pursuing an MBA from Western University in Canada.

Courses Related to MBA

There are other courses for those who do not want to pursue an MBA. There are other courses related to business, finance, and management, which you can pursue if you are not interested in studying an MBA.

Course Name	Course Duration	Key Features
MS Business Analytics	12 / 24 months	Business Analytics comes under the category of the STEM degree
Management Information Systems (MIS)	2 years	Colleges ask for work experience to give admission to an MIS program
Master of Engineering Management (MEM)	2 years	Candidates require a Bachelor of Engineering to pursue MEM

Also Read: MBA v/s MIM v/s MA in Management: Know the Difference

Try to maintain a balance in terms of the course fee, college brand name, finances, and post-study work opportunities.

Having covered the list of top colleges that offer an MBA abroad, we hope that the students will make a well-informed choice while choosing their course. Make sure to visit the official webpage of the university/college to get more details.

Candidates looking to study abroad can get in touch with our Shiksha Study Abroad Counsellors for assistance with university applications. Candidates can also write to us in the comments section below.

If you still have doubts regarding the Master in Business Administration abroad then we have given a list of FAQs for more.