With the boom of international commerce, newer and more profitable educational opportunities have increased for students worldwide. When pursuing a Management degree, MBA abroad always seems to be the right option. However, apart from that grand exposure abroad, some other experiences might persuade students to instead choose their home country for pursuing an MBA degree. For instance, the high expenses, inability to apply for most jobs, work permits and visa issues are only a few problems students face during their MBA abroad.
With the PGP admissions at Indian School of Business are closing soon, only a few days are left before the application deadline closes. Hence, to shed some light on the aspects of pursuing an MBA from ISB or abroad, we have amalgamated the views of the MBA students. This article is meant to help students make an informed decision on whether they should pursue MBA at ISM or Abroad.
Un-cut views of our Students
Abhinav Gupta
PGP Co’ 2023
“ I chose ISB over a fancy American MBA, even after having admission in a few fancier places.”
Social Growth
According to the power parity as projected in the picture below, one can actually live a similar lifestyle in India at a much lower cost when compared to abroad. With the average salary package of about INR 30 Lakhs, people can have a comfortable lifestyle in India than in the USA.
Career Growth
The average page scale for the USA after completing the MBA degree might be bigger, you might be missing the big picture here. Students in America that are immigrants might be asked to work for less because they belong to India and hence the opportunity for career growth in India will be much better than that of the USA.
Low Program Cost
Since the management program at ISB is a one-year program instead of two, most students are saved the cost for a whole year. Not to mention that ISB has the best faculty members to ensure that students are able to get the most advantage of the education program in the first place.
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Anurag Yadav
PGP Co’ 2021
“I had interview invites from all the Top Indian B-schools and top Global B-schools, but finally chose ISB over others.”
Diversity
One of the most important factors that you need to look out for is the diversity in the environment. Learning from people belonging to different groups and worlds can actually help in the improvement of our own ideas.
Professional Success
Choosing the right career is always the top priority for most students these days. Hence, it is very important to ensure that you are choosing the right institution that will not only train you in management and business administration but also pave your career path. In that case, pursuing an MBA from ISB seems to be a better option since this institution provides countless opportunities for students to make a career.
Education Quality
When it comes to picking out the right MBA institution, the quality of education should be one of the major factors to consider. Fortunately, ISB welcomes the best faculty members from all over the world, thus guaranteeing the absolute best for the students.
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Shatakshi Sharma
PGP Co’ 2019
Upfront Cost
The cost of education in abroad universities is comparatively higher when it comes to ISB. For instance, an MBA degree at ISB costs around INR 32.6 lakhs while the same degree from a reputed abroad university like Harvard would cost around INR 1 crore. So, the main factor to consider before making a decision is the willingness for accepting student debt and the affordability of the program. Make a decision based on those factors.
Low Rate of Employability
When it comes to applying for jobs abroad after completing the MBA programs, there are many challenges that students have to face. There are only a handful of students from India abroad who are able to achieve a successful career once they have completed their education.
ROI
The time period of calculation of the ROI should actually be long-term rather than short-term result. For instance, pursuing an MBA from ISB would take a student 3-5 years for repayment. However, pursuing an MBA from an Ivy League institution abroad will take a lot more.
How to Apply
Eligible candidates are required to fill out an online form for submission of details such as academic details, work history, GMAT/GRE scores, etc. Candidates are also required to furnish two essays and a letter of awards and achievements from a professional peer. You can click here to apply or for more information. The last date to apply for the final round is 29th January 2023.