Top 6 Countries to Study MBA Abroad

MBA is one of the most popular courses among students around the world. In recent years, students have been willing to pursue an MBA program abroad as it opens up a wide range of career opportunities for them. However, there is one question that aspirants always have in mind, which are the best countries to study MBA abroad?

It can be a challenging task for students to select the right country to pursue an MBA as there are a number of factors that need to be considered before choosing the right study destination. Read through this article to discover the top countries in the world for pursuing an MBA program.

Why Pursue MBA Abroad?

Pursuing an MBA program abroad has several advantages. Around the world, there are several countries with top-notch business schools that offer world-class facilities and lucrative employment opportunities. Some of the major advantages of studying for an MBA abroad are listed below:

• Career Advancement
• Enhanced Networking Opportunities
• Skill and Knowledge Acquisition
• Higher Earning Potential
• Development of a Holistic Perspective

Best Countries to Study MBA Abroad

Selecting the right country and the right university becomes extremely important if you are planning to study for an MBA abroad. The list of top countries to study MBA abroad has been given as follows:

• United States of America
• United Kingdom
• Canada
• Australia
• Germany
• Singapore

United States of America

US business schools rank among the world's most prestigious institutions. While an MBA from the top-notch universities in the US has obvious advantages, along with it, students get strong infrastructure support, internships, and practical training, etc. Through internships in top companies, students gain exposure to the business environment and are prepared to become future business leaders.

US B-schools are distinguished from the rest of the world by the fact that their focus is on expanding their network and knowing the right people. At the end of the day, entrepreneurs will benefit from this network of people.

When it comes to getting into US B-schools, the quality of work experience is given more weight than academic records. Candidates must also qualify for the GMAT and English proficiency tests like the TOEFL or IELTS.

MBA programs in the USA can be very expensive. Costs can range from INR 60 lakhs to INR 1 crore or more. Although it isn't cheap, the post-study opportunities and the learning experience offered at some of the world's top MBA colleges makes it worthwhile. MBA candidates are allowed to stay in the USA for 60 days after graduation (2 months). MBA candidates are allowed to stay in the USA for 60 days after graduation (2 months).

The list of top universities for MBA in the United States of America is given below:

• Harvard University
• Stanford University
• University of Chicago 
• University of Pennsylvania (UPENN)
• Northwestern University

United Kingdom

Indian students have always preferred to study abroad in the United Kingdom. There are numerous opportunities in the services industry in the UK, with London as one of the top centres for finance and banking. UK business schools have an international reputation not only for their rigorous academic standards but also for their high salaries and excellent job prospects. 

Students from India are attracted to the UK because it has a strong Indian population, and they may feel more comfortable being surrounded by people with a similar background. You can expect to spend anywhere between INR 40 and 65 lakhs on an MBA from any good university in the UK. After completing their MBA degree, MBA graduates can stay in the UK for up to two years. 

The list of top universities for MBA in the United Kingdom is given below:

• London Business School (LBS)
• University of Oxford (OU)
• University of Cambridge
• University of Warwick
• University of Manchester
• University of Strathclyde
• Lancaster University
• Imperial College London
• University of Edinburgh (ED)
• Cranfield University

Canada

Canada is home to a majority of the world's largest and most influential companies and is a popular destination for Indian students who want to pursue an MBA. As a popular destination for MBA students, the country offers much more than a good education. The economy of the country is thriving in industries like oil and gas, agriculture,  mining, manufacturing, and forestry. 

The easy access to good jobs and immigration opportunities is what makes Canada such an attractive study destination among students. Tuition costs for MBA in Canada range between INR 27 lakhs to INR 60 lakhs. Upon completion of a two-year MBA program, graduates can stay for a period of three years in the country.

The list of top universities for MBA in Canada is given below:

• York University
• University of Toronto
• University of British Columbia (UBC)
• Queen's University
• University of New Brunswick
• McGill University
• Western University
• University of Alberta

Australia

Among Indian students, Australia is another popular study destination, as the country offers affordable education opportunities without compromising quality. Students can benefit from a supportive, friendly, and welcoming culture in Australia.

Australia's MBA programs offer specialized research training, and applicants are required to clear exams like GMAT, IELTS/TOEFL. You would need a score of 550+ for GMAT, 6 for IELTS, and 90 for TOEFL. Colleges in Australia have two intake seasons a year. One takes place in September and the other in January. Students from India prefer the September intake to study in Australia.

In Australia, MBA programs cost anywhere from INR 16 to 50 lakhs. Additionally, living expenses in Australia can range from INR 8 to 10 lakhs for international students. For MBA programs of two years, international students can stay for up to 24 months (1.25 to two years) in Australia.

The list of top universities for MBA in Australia is given below:

• University of Melbourne
• University of New South Wales
• University of Wollongong
• Macquarie University
• Monash University
• Queensland University of Technology
• Curtin University

Germany

Germany's public universities receive financing from the government and do not charge students tuition fees. They charge a nominal administrative fee. Germany also has some of the leading MBA schools in the world. 

In Germany, private universities are funded by student fees, which may cost students up to INR 9.03 lakhs per annum. Besides this, the average international student needs approximately INR 7,000,000 per year for living expenses while studying in Germany. 

The list of top universities for MBA in Germany is given below:

• EU Business School, Munich
• Munich Business School (MBS)
• Frankfurt School of Finance & Management (FS)
• Technical University of Munich (TUM)
• Reutlingen University

Singapore

Singapore is one of the most economical options available to study abroad, and it has established itself as one of the best countries to pursue an MBA abroad. The government of Singapore has a no-tolerance policy toward drug abuse and ragging on campus, making it one of the safest countries for international students.

Most educational institutes in Singapore charge a total fee cost between INR 15 lakhs and INR 20 lakhs. To support themselves financially, students can also work 16 hours a week while pursuing their studies. After completing their MBA, graduates can stay in Singapore for 1 to 3 months. 

The list of top universities for MBA in Singapore is given below:

• INSEAD Singapore
• Nanyang Institute of Management
• University of Liverpool
• National University of Singapore (NUS)