MBA Abroad for Indian Students: Top Countries, Colleges, Eligibility, Fees, Deadline

Updated on 24 September, 2024

Pragya Sharma

Pragya Sharma

Sr. Content Editor

MBA Abroad for Indian Students: Top Countries, Colleges, Eligibility, Fees, Deadline

Doing an MBA abroad for Indian students is not just a goal; it represents their constant perseverance in upskilling within today's competitive business world. An MBA abroad is widely opted for due to the lucrative career opportunities it offers. 

In fact, graduates can secure managerial positions with substantial salaries, with the highest MBA salary in the USA reaching around $200,000 per year (according to Glassdoor, August 2024). 

I have mentioned integral aspects associated with an MBA degree abroad, like the best countries to study MBA abroad, how to apply for global MBA programs, MBA specializations, tuition fees, salaries, and more for your better understanding. Read on to explore the path which often leads to significant career growth and development.

Types of MBA Programs Abroad

There are different types of MBA programs available for study abroad aspirants, each with its own eligibility criteria and application procedure. Below are the four popular types of MBA programs you can look forward to pursuing.

1. Full-time MBA Program

It is a two-year full-time program where students get to learn the intricacies of the business world in a traditional classroom environment and prepare for their careers.

2. Part-time MBA Program

The classes in this MBA program are conducted during the weekends or in evening. It is usually opted by aspirants who are unable to attend regular morning classes due to their job, studies, or personal circumstances. 

3. Online MBA Program

This program allows students to take classes online via the internet rather than attending regular classes on campus. Various institutions, including top colleges and universities offer online MBA degrees so that students can gain quality education conveniently per their schedules.

4. Executive MBA Program

This MBA program is specially designed for working professionals who want to upgrade their knowledge to gain an edge over their competitors and become an indispensable asset in the job market.

What are Benefits of Pursuing MBA Abroad for Indian Students

Pursuing an MBA abroad offers Indian students transformative experiences, global networks, and enhanced career prospects. Let me take you through the MBA abroad advantages one-by-one.

Gain practical knowledge

Pursuing MBA from abroad equips you with advanced business management techniques to solve new-age business problems. For instance, programs like Harvard Business School’s MBA incorporate experiential learning through projects and global case studies. 

Such innovative programs focus on real-world applications, preparing students to handle complex real-world business issues.

Career advancement

On graduating from a well-acclaimed international B-school, students can get offers from top companies at senior management positions. Whether you take the entrepreneurial role or consolidate or diversify your career in a new domain, an MBA from abroad is surely going to help you make remarkable advancements in your career.

In fact, the median salary for an MBA graduate is around $121,942 per Glassdoor (August, 2024). This higher earning potential reflects the advanced career opportunities available for MBA students globally.

Enhanced networking opportunities

Studying an MBA abroad for international students gives them the chance to network with teaching professionals, students from diverse backgrounds, and potential employers who hold extensive experience in their respective fields. 

For example, Wharton’s MBA program has over 100,000 alumni worldwide, providing students with access to a vast global network. This dynamic network is of help in unlocking promising opportunities in the future.

Higher earning potential

One of the primary reasons Indian students are choosing to pursue MBA in foreign countries is the average salary earned by an MBA graduate of a reputed foreign b-school is comparatively higher than that of an Indian B-school. 

The average total salary of an MBA graduate in the USA is around $98k (₹8,226k) per year, while it is ₹967k annually in India, per PayScale (August 2024).

Develop a holistic perspective

Getting a global exposure of studying in the vicinity of professionals and companies where a student’s capabilities are constantly challenged in learning the business management principles makes them develop a detailed insight into the dynamic business world.

For instance, the MIT Sloan MBA program provides students with opportunities to engage in global projects and internships, enhancing their ability to navigate diverse business environments. This exposure fosters a holistic understanding of the global business landscape which helps them in handling the challenges faced in a constant learning and development cycle. 

Access to globally-recognized universities and programs

International MBA programs offered by universities with global acclaim and rigorous academic standards carry significant weight on a global scale. This provides graduates with enhanced credibility and recognition in the international job market, helping to seek roles in multinational corporations or pursuing global business ventures.

Top B-Schools in the USA

Here’s a list of the top B-schools in the USA according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees 

Stanford Graduate School of Business 1 $82,455 (₹69,04,781)
Wharton School, University of Pennsylvania 2 $84,830 (₹71,03,664)
Harvard Business School 3 $76,410 (₹63,98,573)
MIT Sloan School of Management 6 $86,550 (₹72,47,697)
Columbia Business School 7 $84,496 (₹70,75,695)
Kellogg School of Management, Northwestern University 12 $115,936 (₹97,08,480)
Haas School of Business, University of California, Berkeley 13 $73,160 (₹61,26,418)

Source: Official university websites, QS Global MBA Ranking

Cost of Studying MBA in the USA

The tuition fees vary from one business school to the other. Even different MBA programs within the same business school may have different fees structure. Studying an MBA abroad for Indian students can be a costly affair, especially at top universities.

The average tuition fees for an MBA in the USA is around $86,000 or ₹72,00,000. This may differ per the chosen college/university’s repute and program’s features.

Course Duration 

The duration of most of the MBA programs in the USA is two years. However, some business schools in the USA also offer an Accelerated MBA degree which only takes around one year to complete.

Stay back Period for MBA Graduates in the USA

After completing studies in the USA, students can stay for one year on an H-1B visa. However, students enrolled in STEM-certified MBA programs are eligible to apply for a 24 months extension, making the total duration of stay back for three years.

2. Canada

Canada is home to some of the best MBA colleges abroad. The economy of the country is thriving in industries such as manufacturing, oil and gas, mining, and agriculture & forestry. 

The students can reap the benefits of the prospering economy once they complete the degree. Canada offers enough job opportunities and easy immigration possibilities which makes it an attractive place to study MBA abroad.

Top B-Schools in Canada

Here’s a list of the top B-schools in Canada according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees (in CAD)

Rotman School of Management, University of Toronto 40 $133,740 (₹80,80,570)
Desautels Faculty of Management, McGill University 73 $102,500 (₹61,93,050)
Western Ivey 74 $129,750 (₹78,39,495)
Sauder School of Business, University of British Columbia 89 $103,258 (₹63,00,000)
Queen's (Smith), Ontario 92 $86,855 (₹52,47,77)
York (Schulich) 98 $123,732 (₹74,75,887)

Source: Official university websites, QS Global MBA Rankings

Cost of Studying MBA in Canada

Canada offers one of the most affordable options to study MBA abroad since the cost of studying in the country is comparatively less than any other study abroad destination. The average tuition fees in Canada range from CAD 80,000 to CAD 130,000 (₹47,00,000 to ₹80,00,000).

Course Duration 

The duration of most of the MBA programs in Canada is usually two years. Some universities also provide a one-year MBA degree.

Stay Back Period for MBA Graduates in Canada

The validity of a post-study stay back or post-graduation work permit (PGWP) in Canada depends on the duration of the course. Students with a course duration of two years or more can stay back in the country for three years. 

If a student pursues an MBA in Canada which is for less than two years (but more than eight months), they may be eligible to stay for a three year PGWP if they meet all . However, most MBA graduates stay in Canada for two years. Therefore, students with a course duration of two years or more can stay back in the country for three years.

3. United Kingdom

The finance and banking sector in London has been blooming in the past few years. This has led to an increased employability rate in the UK amongst MBA graduates. GMAT and TOEFL/IELTS scores are necessary for getting admission to a college in the UK. 

Besides offering a rigorous academic approach, the UK has become a favorable destination for pursuing an MBA in foreign countries because of its multiple internship opportunities which make the students industry-ready.

Top B-Schools in the UK

Here’s a list of the top B-schools in the UK according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees 

London Business School 4 £115,000 (₹1,22,48,650)
University of Cambridge - Judge Business School 9 £74,000 (₹78,81,740)
University of Oxford - Saïd Business School 18 £117,480 (₹1,25,12,794)
Imperial College Business School 20 £67,500 (₹71,89,425)
Warwick Business School, University of Warwick 36 £53,750 (₹57,24,912)
University of Manchester - Alliance Manchester Business School 49 £48,000 (₹51,12,480)
University of Edinburgh Business School 64 £40,900 (₹43,56,259)
Cranfield School of Management 82 £27,650 (₹29,45,000)

Source: Official university websites, QS Global MBA Rankings

Cost of Studying MBA in the UK

Students get a wide scope of choices and preferences in specializations to pursue MBA courses abroad. The cost of studying depends on the duration of the course, different fees structure of universities or business schools, and area of specialization. 

On average, studying MBA in the UK ranges from £30,000 to £115,000  (₹31,95,300 to ₹1,22,48,650).

Course Duration 

Full-time MBA programs typically last around 24 months. For a part-time MBA, the course duration ranges between two and three years, with more flexible study options. Some institutions also provide a one year MBA program.

Stay Back Period for MBA Graduates in the UK

The Graduate Visa or ‘Post-Study Work Visa’ allows students to stay back in the UK for a period of two years post the completion of the course. During this time, they can look out for job opportunities and find a stay back in the country to work.

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4. Germany

Germany has the highest national economy in the whole of Europe and hosts 70% of international students every year. Adding to this, the fact that the country offers MBA in English attracts a lot of Indian students. 

Another reason MBA in Germany is popular is that public universities offer free education or requires minimal tuition fee as the course is aided by the government. 

Top B-schools in Germany

Here’s a list of the top B-schools in Germany according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees 

Frankfurt School of Finance & Management 45 €42,000 (₹37,96,380)
Mannheim Business School  46 €42,500 (₹38,41,575)
WHU – Otto Beisheim School of Management 58 €48,500 (₹43,83,915)
ESMT Berlin 85 €49,500 (₹44,74,305)

HHL Leipzig Graduate

School of Management

Management

121 - 130 €33,500 to €39,500 (₹30,28,065 to ₹35,70,405)
EU Business School, Barcelona  141 - 150 €15,200 to €22,800 (₹13,73,928 to ₹20,60,892)

Source: Official university websites, QS Global MBA Rankings

Cost of Studying MBA in Germany

There is no tuition fee charged for studying at public management colleges in Germany but students have to pay a semester fee of $200 to $300. As for private management colleges, the average tuition fees range from €15,200 to €50,000 (₹13,73,928 to ₹44,73,305).

Course Duration 

Full-time MBA course duration in Germany is usually between one and two years, while part-time MBA courses can take anywhere between 1.5 to 2 years.

Stay Back Period for MBA Graduates in Germany

After studying MBA abroad, students from non-EEA and non-EU countries with a residence permit get to stay back in Germany for another 18 months while they look for a job in Germany.

5. Australia

An MBA degree from Australia offers international recognition to students and they will be able to find a job anywhere in the world. The affordable and qualitative education at business schools in Australia has been offering lucrative learning opportunities to students. 

This is backed by the cost of living, similar weather to India and relaxed student life are some of the factors which make Australia a popular destination for MBA in international business abroad students. 

Top B-schools in Australia

Here’s a list of the top B-schools in Australia according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees (in AUD)

Melbourne Business School 30 $106,650 (₹58,17,757)
UNSW Business School 31 $81,720 (₹44,57,826)
Sydney Business School, University of Sydney 50 $82,500 (₹45,00,375)
UQ Business School, University of Queensland 75 $93,970 (₹78,87,324)
Monash Business School, Monash University 84 $61,200 (₹33,38,460)
Macquarie Business School, Macquarie University  101 - 110 $21,800 (₹11,89,190)

Source: Official university websites, QS Global MBA Rankings

Cost of Studying MBA in Australia

The cost of studying MBA in Australia varies according to the course and university. However, the average cost of studying MBA for international students will range from AUD 21,800 to AUD 106,650 (₹1,189,190 to ₹5,817,757).

Course Duration

Most traditional Master of Business Administration programs span over six trimesters, or two years of full-time. Part-time MBA programs often take between three and five years to complete.

An accelerated MBA, on the other hand, can give certain students the opportunity to earn their qualification more quickly than a traditional MBA in around one year only. 

Stay Back Period for MBA Graduates in Australia

Temporary Graduate visa (subclass 485) or Post-Higher Education Work stream is for international students who have recently graduated with a degree from an Australian institution. It lets you live, work and study in Australia, temporarily for two to three years. 

6. Singapore

The growing infrastructure and economy of Singapore have brought it into the spotlight. Moreover, the MBA programs in the country are preferred by the students as they are flexible, allowing them to earn while working for 16-18 hours a week. 

Top B-schools in Singapore

Here’s a list of the top B-schools in Singapore according to the QS Global MBA Rankings 2024:

University

QS MBA Ranking (2024)

Average Annual Tuition Fees (in Singapore Dollars)

National University of Singapore (NUS) 24 $94,830 (₹59,55,324)
NTU Nanyang Business School 34 $81,750 (₹51,33,900)
SMU (Lee kong Chian) 43 $70,850 (₹44,49,380)

SP JAIN School of

Global Management

251+ $56,000 (₹35,16,800)

Source: Official university websites, QS Global MBA Rankings

Cost of Studying MBA in Singapore

The average tuition fees for studying MBA abroad in a country like Singapore is contingent upon the university. However, the average tuition fee for an MBA degree in the country is around SGD 75,250 or ₹47,25,700.

Course Duration 

Duration of MBA programs in Singapore on an average is around 15 to 20 months.

Stay Back Period for MBA Graduates in Singapore

After completing your studies in Singapore, you may be eligible for a stay-back period under the Singapore Employment Pass or other relevant passes, depending on your situation. 

For international students who have graduated from an approved institution, the most common option is the Long-Term Visit Pass (LTVP) or the Employment Pass (EP) if you have a job offer. 

You must apply for these passes before your Student Pass expires. 

MBA Specializations in Demand Abroad

Students wishing to study MBA in foreign countries have to choose the specialization that are suitable to their needs. The first year of the MBA curriculum requires them to study general management and basic subjects related to managerial courses. 

After getting an overall idea of the subject, in the final year, they have to learn in-depth about the specialization they have chosen. 

There are many specializations offered by different universities, some of which along with their average salaries are as follows:

MBA Specialization

Average Annual Salary (in USD)
Marketing $1L to $1.2L
Finance $1L to $2L
Human Resources $1L to $2L
Entrepreneurship $1L to $2L
International Business $65T - $1L
Supply Chain Management $93T - $1L
Information Systems $1L - $2L
Construction Management $72T - $1L
Project Management $67T - $1L
Brand Management/Luxury Management $89T - $2L
Information Technology $62T - $1L
Digital Marketing $66T - $1L
Sports Management $68T - $1L

Source: Glassdoor, August 2024

Job Opportunities After MBA in Abroad

Job Profile

Annual Average Salary 

General Manager

$2,07,000

Marketing Manager

 $1,14,000

Project Manager

$1,35,850

Business Development Manager

$1,96,000

Strategy Manager

$186,400

Operations Manager

$1,95,000

Source: Glassdoor, August 2024

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MBA Specializations in Demand Abroad

Students wishing to study MBA in foreign countries have to choose the specialization that are suitable to their needs. The first year of the MBA curriculum requires them to study general management and basic subjects related to managerial courses. 

After getting an overall idea of the subject, in the final year, they have to learn in-depth about the specialization they have chosen. 

There are many specializations offered by different universities, some of which along with their average salaries are as follows:

MBA Specialization

Average Annual Salary (in USD)
Marketing $1L to $1.2L
Finance $1L to $2L
Human Resources $1L to $2L
Entrepreneurship $1L to $2L
International Business $65T - $1L
Supply Chain Management $93T - $1L
Information Systems $1L - $2L
Construction Management $72T - $1L
Project Management $67T - $1L
Brand Management/Luxury Management $89T - $2L
Information Technology $62T - $1L
Digital Marketing $66T - $1L
Sports Management $68T - $1L

Source: Glassdoor, August 2024

Job Opportunities After MBA in Abroad

Job Profile

Annual Average Salary 

General Manager

$2,07,000

Marketing Manager

 $1,14,000

Project Manager

$1,35,850

Business Development Manager

$1,96,000

Strategy Manager

$186,400

Operations Manager

$1,95,000

Source: Glassdoor, August 2024

Important Resources to Read About Study Abroad
How to study abroad from India Study abroad for free Study Abroad Checklist
Best countries to study abroad for Indian students Education loan to study abroad Packing list for Indian students going abroad
How to study abroad? Difference between scholarship and fellowship What is a Scholarship
Difference between GPA & CGPA Advantages of studying abroad GPA to Percentage Calculator
Education Loan for Study Abroad What is a Backlog Certificate? Credential Evaluation

How to Apply for MBA Abroad

Being one of the most pursued courses in the world, studying MBA abroad can open doors for global opportunities. It makes your foundation strong in the fundamentals of the business world such as accounting, finance, marketing, managerial skills and strategy, human resources, and business ethics. 

However, studying MBA abroad requires you to fulfill associated eligibility criteria. 

MBA Abroad Eligibility

In countries like the USA, the UK, Canada, Australia and Ireland, to study an MBA, international students should hold a bachelor’s degree from a recognized university. Most of the universities look at your holistic profile and not just your GPA. 

MBA programs at some universities may require you to have work experience. You may be required to showcase:

  • Relevant work experience for at least 2-3 years before applying for an MBA. 
  • In countries like Ireland and New Zealand, to meet MBA abroad eligibility, you must have a work experience of a minimum of 4 to 5 years. 

It is to be noted that there are various universities which accept MBA abroad applications without work experience. You must go through the institute’s official website to know about their admission requirements. 

Required Exams for Studying MBA abroad

To get admission to a university abroad, a student must appear for and score good in merit-based entrance exams like GMAT or GRE. The required GRE/GMAT scores at every university are different and that can be checked at the respective institution’s official website. 

To qualify for an MBA in abroad, a student must take an English proficiency test like IELTS, TOEFL, PTE, or Duolingo. An IELTS score of 6.0 to 7.5 or above and a TOEFL score of 85-109 are considered decent to procure admission at a globally-recognized international university. 

Visa Requirements

After procuring admission at a business school abroad, a student needs to apply for a visa in the new country to which they are immigrating. This would not only help them to board a flight to the country, but also entitle them to the benefits provided to the students registered in the said country. 

Listed below are the procedures to be followed while applying for a visa.

USA

To study in the USA on a student visa, you must first be accepted into a SEVP-certified school and receive a Form I-20. You must then pay the SEVIS I-901 fee and complete the DS-160 form for a visa interview at a U.S. embassy or consulate.

Key requirements include a valid passport, proof of financial ability to cover tuition and living expenses, and evidence of strong ties to their home country to ensure intent to return after studies. 

Additionally, applicants must demonstrate English proficiency and pass a medical examination. The visa categories include F-1 for academic students and M-1 for vocational students.

UK

You would need a Tier-4 (General) student visa to be a part of an MBA program in the UK. 

Key requirements include an acceptance letter from a licensed Tier 4 sponsor, proof of sufficient funds to cover tuition fees and living expenses, and proficiency in the English language, evidenced by passing an approved test.

You must provide a current passport or valid travel documentation, a Confirmation of Acceptance for Studies (CAS) reference number from the educational institution, and proof of financial support. The visa also mandates payment of the healthcare surcharge for access to the National Health Service (NHS).

Canada

A Canadian student visa, known as a study permit, is required for international students to study at Designated Learning Institutions (DLIs) in Canada. To be eligible for a study permit, you must have a letter of acceptance from a recognized institution, proof of sufficient funds to cover tuition fees, living expenses, and return transportation.

Additionally, you must not have a criminal record and may need to provide a police certificate if asked for. A medical exam may be required, and the applicant must prove they will leave Canada at the end of their authorized stay. 

The permit must be applied for before traveling to Canada, and students may also need to provide biometrics as a part of the application process .

Australia

Australia's Student Visa (Subclass 500) allows international students to study full-time in a recognized education institution. To qualify, you must provide a Confirmation of Enrolment (CoE) from an Australian institution, demonstrate sufficient financial capacity to cover tuition, travel, and living expenses, and prove English language proficiency through tests like IELTS or TOEFL.

Additionally, you must meet health and character requirements, often involving medical examinations and police clearances. The visa also permits limited work rights of up to 40 hours per fortnight during term time and unlimited hours during scheduled course breaks. Health insurance through the Overseas Student Health Cover (OSHC) is mandatory for the visa duration.

Germany

To apply for a German student visa, you must prepare two sets of documents including (but not limiting to):

  • Valid passport with at least one-year validity.
  • Completed application form and signed declaration.
  • Statement of purpose/motivation letter.
  • Proof of admission to a German university.
  • Language proficiency proof (B2-level or higher).
  • Academic certificates.
  • Proof of financial means (€11,208 per year, increasing to €11,904 from September 2024).
  • Three passport photos.
  • Visa fee (€75).
  • Travel health insurance.

Singapore 

To study full-time in Singapore, you need a Student's Pass. Here are the key requirements:

  • Apply online through ICA's website with a Registration Acknowledgement Letter from your school.
  • PRC citizens over 19 attending specific courses might need an interview at the Singapore Embassy in Beijing.
  • Documents for the interview include legalized birth and educational certificates, financial statements, study plan, identity cards, employment details, and the applicant's passport.
  • If applicable, include marriage certificates of parents/step-parents or spouses who are Singapore citizens or permanent residents.

Role of Consultants in Fulfilling One’s Study Abroad Dream

Are education consultants really helpful for studying abroad? There are various consultancies which fast forward the long process of applying for an MBA abroad and make it smoother for the aspirants. 

upGrad Abroad not just assists you in your application procedure and in selecting the right university & country, but it has also tied up with various foreign universities to offer an MBA degree at a much lesser tuition fees. 

Here’s an overview of how a consultant can help you to study MBA abroad. 

a) Help you in targeting the top scores in exams like GRE, GMAT, SAT, IELTS and TOEFL.

b) Guide you in choosing the best country in accordance with the benefits offered by each of them.

c) Help in deciding which one is the right university based on your scores and profile.

d) The consultants assist you in drafting a college essay, LOR, and resume so that you can get admission to your dream university.

e) Construct a financial road map for you by exploring how your education can be funded – scholarships, university aid, education loan and money-saving hacks.

f) Once all the requirements are met, the consultant will also guide you in applying for the student visa.

Scholarships Available for Indian Students to Study Abroad

Pursuing an MBA abroad is an expensive affair. However, to fulfill your study abroad dream, various universities offer scholarships to international students so that they can afford their expenses in the country. 

There are two types of scholarships in foreign countries – one offered internally by the institution and another one provided externally by various foundations, institutions and the government on the basis of the merit or needs of the student. 

List of Scholarships in Different Countries

Listed below are the names of the scholarships which are externally offered to students in various countries.  

Country 

Name of the Scholarship

Australia

  • Australia Awards Scholarship.
  • The ANU Chancellor's International Scholarship at Australian National University.
  • Global Citizens Scholarship, University of Adelaide.  
  • The UTS College to UTS Pathway Scholarship for supporting high-achieving international students.

USA

  • Humphrey Fellowship Program.
  • Foreign Fulbright Student Program.
  • Southern Utah University International Scholarships.
  • Wesleyan Freeman Asian Scholarship, Wesleyan University.

United Kingdom

  • The Commonwealth Scholarships.
  • The Chevening Scholarships. 
  • Charles Wallace Scholarships.
  • University of Bristol, Scholarship for International Students.

Canada

  • Quebec Provincial Government Scholarship.
  • McGill’s Entrance Scholarship Program.
  • International Major Entrance Scholarship, University of British Columbia.
  • University of Calgary International Entrance Scholarship.
  • Ontario Student Assistance Program (OSAP).

Ireland

  • NUI Galway International Student Scholarships (Max Arthur McAuliffe Special Merit Scholarship.
  • The Government of Ireland International Education Scholarship.
  • Trinity College, Scholarship for International Students.
  • Irish University Scholarships.

Germany

  • DAAD Scholarship for Master’s studies.
  • Heinrich Boell Scholarships in Germany for International Students.
  • The Deutschlandstipendium at German Universities.

Source: Official Scholarship and University Websites

Important Scholarships to Study Abroad
State Scholarship Fulbright Scholarship Narotam Sekhsaria
Fully Funded Masters Scholarships in USA Fully Funded Scholarships in Canada Fully Funded Scholarships in UK for International Students
Fully Funded Scholarships in Italy for International Students Fully Funded Scholarships in Australia for International Students Fully Funded Scholarships in Singapore for International Students
Fully Funded Scholarships in New Zealand for International Students Fully Funded Scholarships in France for International Students Fully Funded Scholarships in Spain for International Students

Educational Loans to Study MBA Abroad

To apply for an educational loan to finance your study abroad dream, you must have an accredited admission letter from a foreign university. 

The organization which would approve your loan will estimate your worth on the basis of the tuition fees and associated costs. If the nature of your degree and the ability to repay the loan on completion are deemed fit, your loan will be approved. 

There are two types of education loans based on collateral security:

a) Secured educational loan-

Offered by government and private banks in lieu of some assets which are kept as collateral security by the applicant.

b) Unsecured educational loan or an educational loan without collateral-

Offered by private financial institutions known as Non-Banking Finance Companies (NBFCs) and does not require any collateral. In this case, a guarantor is needed who will take care of the loan security.

MBA Abroad Without GMAT: List of Top Universities 

Most of the B-schools require a valid GMAT score. Undoubtedly, it is one of the most important exams for studying MBA abroad. However, some students are not able to crack the test. 

Therefore, instead of wasting a year, they can apply to universities that accept students without GMAT scores. In this case, they must meet the following requirements:

Universities Offering MBA Abroad Without GMAT

Name of the University Country
Michigan State University, Broad College of Business USA
Monash Business School, Monash University  Australia 
University of South Australia  Australia 
Durham University  UK
Georgetown University, McDonough School of Business USA 
Georgia Institute of Technology USA
Nanyang Technological University (NTU) Singapore 
Bob Gaglardi School of Business and Economics, Thompson Rivers University  Canada
Technical University of Munich (TUM) Germany 

Source: University Websites

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MBA Colleges Abroad Without Work Experience

People who get an MBA learn skills that help them perform a variety of jobs in the business world. Most people who apply for an MBA are young students who haven't had much job experience.

Many universities abroad are willing to let students apply for an MBA degree even if they have little or no work experience. Here are some of the universities you can apply to for an MBA abroad:

Name of the University  Country 
Stanford University USA

The University of Newcastle

Australia 

California State University 

USA

MIT Sloan

USA

Brock University

Canada

Yale School of Management/ Yale University 

USA

University of Windsor

Canada

RMIT University 

Australia

Source: University Websites

Conclusion 

Embarking on an MBA journey abroad is more than a degree- it's an investment. From full-time programs to executive tracks, the options are diverse. Benefits include practical knowledge, career advancement, and global networking. Explore top countries like the USA, Canada, and Australia, each with its unique advantages. 

Remember, consultants play a vital role, and scholarships & loans ease the way to embark on your study abroad journey. Dream big, study smart, and let your MBA propel you toward success.

Expert Tips on Pursuing MBA Abroad

Learn everything about MBA abroad with this e-guide. Get to know about different types of MBA, the benefits of pursuing an MBA degree abroad, how to choose an MBA degree, top business school requirements, top MBA universities, scholarships, job prospects after an MBA abroad, and more.

Now, get answers to every MBA abroad-related question with this ebook.

FAQs on MBA in Abroad

How much does it cost for an MBA abroad?

The annual tuition fees for an MBA abroad varies according to universities and from one country to another. The cost of an MBA degree abroad is much higher than in India and in a reputed university, the fees can start from around $50,000 and can shoot up to around $85,000 in institutions like Harvard. 

If we include the living and other expenses, the cost goes to around $1,30,000 per year.

How to get a scholarship for an MBA abroad?

Applying for an MBA in abroad is not a hefty task. Students do not need to submit any additional documents but apply for it through the website of the B-school if they fulfill the required criteria. Though the criterias vary from one institution to another, standard eligibility is to secure a GMAT score above 680 and a GPA around 3.5 to 3.8. 

You can also create a network with scholars, current students, alumni, or consultants. Gather tips from them and write an effective scholarship essay so that your chances of getting the aid increases.

Are entrance exams required for Indian students applying to MBA programs abroad?

No, there are no entrance exams required for Indian students applying for MBA programs abroad. However, MBA admissions generally require test scores of exams like the GMAT and GRE which assess analytical, quantitative, and verbal skills. 

You also have to submit scores of your English proficiency, which is tested through tests like IELTS, TOEFL, etc. Each exam has varying formats, durations, and scoring systems. Check individual school requirements for specifics.

How do Indian students navigate the application process for MBA programs abroad, including essays, interviews, and recommendations?

Navigating the application process for MBA programs abroad requires meticulous planning, dedicated preparation, and strategic execution. Indian students often utilize a combination of self-study, professional guidance, and peer support to enhance their applications and improve their chances of admission.

Which MBA specialization has more demand in India?

There are many in-demand MBA Specializations in India. Some of them include MBA in Artificial Intelligence & Machine Learning, MBA in Business Analytics & Big Data, MBA in Entrepreneurship, and MBA in Financial Management, etc.

Are there any specific cultural or academic challenges that Indian students may face while studying abroad for an MBA?

Indian MBA students abroad may face challenges such as feeling like outsiders, language barriers, and being far from their support network. They must also cope up with cultural misunderstandings and adjust to currency differences. 

These issues can affect their academic performance, social integration, and overall well-being, making the experience both rewarding and demanding.

Did you find this article helpful?

Pragya Sharma

Sr. Content Editor

Pragya Sharma is a content developer and marketer with 6.5+ years of experience in the education industry. She started her career as a social media copywriter for NIELIT, Ministry of Electronics & IT, and has now scaled up as a 360-degree content professional well-versed with the intricacies of digital marketing and different forms of content used to drive and hook the target audience. She is also a co-author of 2 stories in an anthology based on the theme- women empowerment.

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