MBA abroad has become a popular choice for business students to pursue their higher education and enter the business world. Many students look for this transition: to go from either an undergraduate degree or a work position to a postgraduate degree or a higher-level position in their respective field. However, many of these students are not exactly aware of how to do MBA from abroad. Studying in a foreign country is not an easy task for those students who are not familiar with the concept of studying abroad.
There are a variety of factors that play a part in your decision, and various factors need to be considered before you go for an MBA abroad. Let’s look at some important factors that students need to consider and understand before they begin to study abroad.
What are the Benefits of Pursuing an MBA Abroad for International Students?
MBA aspirants will gain a lot of different advantages by studying abroad, including the following benefits:
- Students gain an insight into how the international curriculum works, allowing them to get a wider perspective and understanding of the business world.
- It allows students to network with batchmates from business backgrounds and helps connect with alumni, corporate leaders, and industry professionals.
- Pursuing an MBA abroad allows students to study in a wide variety of universities and countries, leading to a higher level of education and experience.
- After graduating from a recognized university, MBA graduates can choose any career path: working as an entrepreneur or switching careers.
Different Countries to Consider Applying for an MBA Abroad at Their Universities
With different options to choose from, here is a brief look at the list of countries to pursue an MBA from foreign university:
USA
The USA comes at the top when it comes to choosing a business school for pursuing an MBA abroad. With a general duration of 2 years, the USA offers an academically excellent MBA program that comes with a wide range of specializations to choose from. Here are the top-ranking MBA US universities:
- Harvard University
- Wharton University
- Stanford University
UK
The UK has a quality curriculum for business administration programs. One of the best reasons why MBA in UK is a popular choice among international students is the short duration of its MBA program. These are the top-ranked business schools of the UK:
- London Business School
- Oxford University
- Cambridge University
Canada
Canada is popular for an MBA abroad for its high-quality education and a thriving job market for all MBA graduates. The following are some of the top business schools in Canada:
- University of Toronto
- York University
- Western University
Australia
Australia is a very popular destination when it comes to receiving business education, as not only does the country offer quality education in fields such as finance, consulting, and entrepreneurship, but it also provides students with a great study environment. Here are some of the top universities in Australia for an MBA program:
- Melbourne Business School
- UNSW AGSM, Sydney
- UQ Business School
Germany
Germany is the best choice for MBA abroad for students who are interested in pursuing an affordable education with a fair quality of education. While it is highly competitive, MBA graduates can find work opportunities after graduation. These are some of the top business schools in Germany:
- Mannheim Business School
- Otto Beisheim
- ESMT Berlin
Cost to Pursue an MBA Abroad from Different Countries: A Comprehensive Look Into Financial Factors to Apply for an MBA Program
Different costs are associated with pursuing your higher education in a different country. From beginning to end, there is an initial tuition fee, a visa fee, medical insurance, travel tickets, followed by the cost of accommodation, study materials, and other expenses that make up the total cost of pursuing an MBA abroad while you study abroad.
Tuition Fees and Cost of Living
| Country | Tuition Fees | Cost of Living |
| USA | $60,000-$90,000 (2 years) | $1,200-$2,500 per month |
| UK | £30,000-£80,000 per year | £1,000-$1,800 per month |
| Canada | CAD 40,000-CAD 90,000 per year | CAD 1,000-CAD 1,800 per month |
| Germany | €15,000-€40,000 per year | €580-€955 per month |
| Australia | AU$50,000-AU$90,000 per year | AU$1,500-AU$2,200 per month |
Other Expenses to Study MBA Abroad
These are the expenses that happen during the application for an MBA abroad, except for books and materials, which students can also choose to buy from their home country.
- Application Fees: $100-$250
- Entrance Exams: $275 for GMAT, $220 for GRE, $200–$250 for IELTS/TOEFL
- Visa & Medical Insurance: $100-500 for student visa fees, $500-1,500 per year for health insurance (depending on the country)
- Books & Materials: $500-1,000 per year
Conclusion
Students from all over the world choose to study abroad, and pursuing a degree in business administration is one of the most promising careers from foreign universities, as it not only offers a world-class education and opportunities, but also rewarding career paths. An MBA abroad can be a great experience for students; they just need to learn about it before applying for admission to a foreign university.
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To learn more about MBA Abroad, explore the following links:
MBA Abroad: Top Ranked MBA Colleges Worldwide
https://buzzingabout.com/blogs/31101/MBA-Abroad-Top-Ranked-MBA-Colleges-Worldwide