When higher education is taken into perspective, India has witnessed radical changes in the educational scenario in the last 10 years. As acquiring an MBA degree is the dream of Indian youth nowadays, there is a constant deliberation going on over the destination of pursuing it. Which MBA is better – India or abroad? There are several factors going in favor of both India and abroad. But, in the end, an MBA from India may have a slight edge over a foreign degree.
The foremost factor that favors an Indian degree is the cost of study. While pursuing a management course in any good business school in the United States or United Kingdom demands an expense of Rs. 25 to 50 lakhs from the aspirants, the same course can be pursued in India at a much lower cost (10 percent of that amount). In foreign countries, the cost of living is higher than India. So, you have to naturally expend a lot of money to fulfill your varying requirements. As a result, you have to take up a part-time job there for a couple of years to recover the expenses. This creates a hindrance to your return from abroad to the country after finishing the course.
From another point of view, students who complete their MBA programs from prestigious management institutes always have the option of working in India or abroad because the majority of top business schools in India attract plenty of foreign companies to their campuses every year. So, you can fulfill your dream of going abroad even by studying in India. Thanks to the impact of globalization, relocating to a foreign country has become easier nowadays. Since the economy of India is growing at a fast pace, there are unlimited job prospects in the country itself. Numerous foreign companies are trying to capitalize on the vast potential of Indian economy by setting up their operations here. Hence, crossing the border for jobs seems illogical in this context.
Seeing the state-of-the-art infrastructure and high-quality teaching standards of Indian management institutes and universities, many foreign universities have formed strategic alliances with them to ensure the exchange of ideas, knowledge, faculty and students. Some of these alliances include the Indian School of Business with the Wharton School of the University of Pennsylvania, the Management Development Institute (MDI) in Gurgaon with Cambridge College, and the SP Jain Institute of Management and Research in Mumbai with Virginia Tech. When the cream of international education is heading for Indian soils, there is no need to move outside of the country for an MBA degree as you can pursue the same here at an affordable cost.
Talking about some positive aspects of a management degree abroad, students can experience a fast career growth after completing the program. They also find the opportunity to interact with other students and teachers from diverse backgrounds to gain valuable knowledge and skills. There are also internships with big corporate houses of global standards to allow students get precious work experience in a wide range of fields like IT, finance, marketing and human resources even before earning the degree. Regardless of the positive points for studying abroad, an Indian MBA degree is still a more feasible option.