Pursuing an MBA abroad can be a rewarding experience for young professionals. Not only does it allow you to experience different cultures and build your language skills, but it also allows you to gain a degree from some of the top education systems in the world.
Studying abroad can broaden your career prospects, as you may have the chance to intern or gain work experience with multinational companies and launch a global career.
In addition to the academic and professional benefits, studying abroad can also be a personal growth opportunity as you learn to adapt to new environments and challenge yourself in ways you may not have the chance to do otherwise.
Why do MBA?
There are several reasons why people pursue an MBA. Some of the most common causes include
- Career advancement: Many people pursue an MBA to gain the skills and knowledge needed to advance in their current careers or switch to a new field. An MBA can open doors to new job opportunities and higher salaries.
- Entrepreneurship: An MBA can provide the skills and knowledge needed to start a business or manage a company.
- Leadership: An MBA can help develop leadership skills and provide the tools to manage and motivate teams.
- Networking: MBA programs often bring together a diverse group of professionals, providing an opportunity to make valuable connections and build a professional network.
- Personal development: An MBA can help individuals develop their communication, problem-solving, and analytical skills, which can benefit their personal and professional lives.
Here are 10 Steps To Enrol For Your MBA Abroad:
- Research different MBA programs and universities to find the best fit for you. This is an essential first step as you want to ensure you invest your time and money in a program that meets your needs and career goals. Consider factors such as cost, location, reputation, and specialisations offered. Look into the curriculum, faculty, and job placement rates of the programs you are considering. You can reach out to current or former students, alumni, or the admissions office to understand the program better and what it offers.
- Take the GMAT or GRE to demonstrate your aptitude for business and graduate-level coursework. Most MBA programs require applicants to take one of these standardised tests, which measure their analytical writing, quantitative, verbal, and reading skills. Start preparing for the test well in advance, as it can take several months to see improvement. Consider taking a test prep course or working with a tutor to help you prepare.
- Gather transcripts and required documents, such as letters of recommendation, resumes, and personal statements. Most MBA programs require you to submit transcripts from your previous college and university coursework. You may also need to provide letters of recommendation from professors, supervisors, or other professionals who can speak to your abilities and potential as a graduate student. Your resume should highlight your work experience and any relevant skills or accomplishments. The personal statement is your opportunity to explain why you want to pursue an MBA and how the program fits into your long-term career goals.
- Check the application deadlines for the programs you are interested in, and submit your application promptly. MBA programs can be competitive, and submitting your application as early as possible is essential. Double-check that you have completed all the required materials and that everything is in order before submitting.
- Consider applying for scholarships or financial aid to help cover the cost of your MBA. An MBA can be a significant financial investment, and exploring all your funding options is essential. Look into scholarships and grants specifically designed for MBA students, loans, and other financial aid forms. Your university or program may also have funding options, so be sure to ask about those.
- If you need a visa to study abroad, start obtaining one as early as possible. If you are planning to pursue your MBA at a university outside of your home country, you will need to get a student visa. The process of obtaining a visa can be time-consuming and requires you to provide documentation such as proof of acceptance into a program, evidence of financial support, and a valid passport. Start the process early to ensure everything is in order before your program begins.
- Start preparing to move to your new location, including finding housing and making arrangements for your family, if applicable. If you are moving to a new city or country for your MBA, it's essential to start thinking about logistics such as housing, transportation, and other practicalities. Consider cost, proximity to campus, and safety when looking for housing. If you have a family, consider their needs and make any necessary arrangements for them to join you.
- Consider taking language classes if the program you are enrolling in teaches a language you need to be fluent in. If the MBA program you are enrolling in is conducted in a language you need to be fluent in, you may consider taking language classes to improve your skills. This can help you better understand the material and participate fully in class discussions. Many universities offer language classes for international students, so be sure.
- Before starting your MBA program, consider attending any orientations or events the university offers to help you settle and prepare for your studies. These can be an excellent opportunity to meet other students and get a feel for your new environment. You may also get helpful information about the program, campus resources, and the local community.
- Once you begin your MBA program, be sure to take advantage of any resources offered by the university to help you succeed. This can include tutoring services, career counselling, and professional development workshops. Many universities have dedicated career centres to help you with resume building, job search strategies, and networking. These resources can help you make the most of your MBA experience and set you up for success after graduation.
Top colleges for MBA
Here is the information in the form of a table:
School |
Approximate Fee per Year |
Harvard Business School |
$75,000 - $80,000 |
Stanford Graduate School of Business |
$75,000 - $80,000 |
MIT Sloan School of Management |
$75,000 - $80,000 |
University of Pennsylvania (Wharton) |
$75,000 - $80,000 |
University of Chicago Booth School of Business |
$75,000 - $80,000 |
Columbia Business School |
$75,000 - $80,000 |
INSEAD |
$80,000 - $85,000 |
Kellogg School of Management at Northwestern University |
$75,000 - $80,000 |
Yale School of Management |
$75,000 - $80,000 |
Duke University's Fuqua School of Business |
$75,000 - $80,000 |
Salary of an MBA graduate
The salary of an MBA graduate can vary depending on several factors, including the industry they work in, their level of experience, and their job location. According to data from the Graduate Management Admission Council (GMAC), the median starting salary for MBA graduates in the United States is around $115,000 annually. However, this figure can vary significantly based on the factors mentioned above.
For example, MBA graduates who go into consulting or finance tend to have some of the highest salaries, while those who go into non-profit or government work may have lower wages. It's also worth noting that MBA graduates with a strong track record of academic and professional achievement and relevant experience may be more likely to secure higher salaries.