Most Indian MBA aspirants have this question in their mind – Should I do my MBA from an Indian business school or do I look for MBA programs abroad in the USA or Europe. This article helps you understand the pros and cons of an Indian MBA vs US MBA and decide which MBA degree will be better for you based on your long terms goal, and lastly which will provide a better ROI.
An MBA from a foreign university is very helpful in understanding business from an international perspective. This is very advantageous if you want to work abroad after your graduation. Also, most foreign b-schools tend to have a large diversity in their student class so you benefit from understanding different cultural viewpoints and perspectives. The foreign MBA colleges will also have better infrastructure and better professors. The post-degree pay package of an US or European MBA will be higher than an Indian MBA because of the currency difference.
However, a foreign MBA is also more expensive and it may take more time to recover the fees of the business degree, especially if you are opting for. More importantly, the Indian market functions very differently than the US and European markets, hence the things you will learn in a foreign B-School will be less applicable to India. Hence, if you want to work in India after your MBA, a foreign MBA is less preferable.
An Indian MBA will help you gain business related knowledge pertinent to the Indian market. An Indian MBA will be significantly cheaper and you will be able to pay back your student loan much faster. If you wish to work in India after your degree, this is preferred from both knowledge as well as economical perspectives.
Around 70% of the curriculum in an Indian MBA degree course will be common to its foreign counterparts, however the way the curriculum is delivered and the facilities to support learning will be at par. The post-degree salary of an Indian MBA will be lower than an US MBA. Also, if you wish to work abroad, an Indian MBA will be disadvantageous since they would prefer students from their own B-Schools.
Other Factors in Choosing Location for your MBA degree
The ranking of the colleges you are targeting will also influence your decision. If you are looking at the top-ranked US colleges like Harvard, Wharton, Stanford or EU colleges like London Business School, INSEAD, then these are the best options and you will be considered as one of the best in the world. If you have to choose between a top 10 international b-school vs a top 10 Indian b-school, then a top 10 international school will be a better choice. If you have to choose between a top 10 Indian b-school like one of the IIMs vs a medium tier US / EU b-school, then an IIM will be a better option. If you wish to choose between an average Indian MBA degree and an average foreign MBA, then you need to make a choice based on the points above like MBA fees, preferred country of work and post-MBA salary.
Below are some videos with students answering why MBA in India?