About 3,60,000 MBA students graduate in India from 4,000 B-schools. This alone speaks volume of just how popular business degree remains in this country. The global picture is no different. So, it makes sense that you want to follow the same suit and do MBA. But comes the question, should do you do it in India or abroad?
Being an MBA graduate isn’t alone sufficient. Where you get your degree from plays an even bigger role in your employability. If you’ve graduated from a less-known institute, in this highly competitive market, you might struggle to get a fitting job. And even if you do get it, the starting salary could be quite less. Because the fact is, even with a record number of students graduating with MBA degree, 61 percent of them are unemployable because of skill gaps and less work experience. Comparatively, if you’ve studied in a good college, outside the on-campus placement, you enjoy plenty of high-paying job opportunities.
Average Salary of Different MBA Specializations
Coming to whether India or abroad, the average salary of MBA graduates in India vs. abroad can reveal some insights.
In India, the average salary of an…
- MBA in Finance is INR 6,78,000
- MBA in Marketing is INR 7,52,000
- MBA in HRM is INR 6,03,000
- MBA in Management Consultant is INR 11,44,000
In the USA, the average salary of an…
- MBA in Finance is USD 98,000
- MBA in Marketing is USD 91,000
- MBA in IT is USD 112,000
- MBA in Consulting is USD 104,000
In other countries, be it the UK, Canada or Australia, the yield for MBA graduates is much higher.
Starting Salary of Graduates from top B-Schools
Talking about the ROI of studying in thetop B-schools in India vs. abroad, the numbers paint a similar picture.
In India, the average starting salary for a graduate from…
- IIM Calcutta is INR 28 lakh
- Indian School of Business (Hyderabad) is INR 26 lakh
- XLRI is INR 24 lakh
- IIM Lucknow is INR 24 lakh
In the USA, the average starting salary for a graduate from…
- The Wharton School is USD 165k
- Stanford Graduate School of Business is USD 162k
- Harvard Business School is USD 159k
- MIT Sloan School of Management is USD 159k
Top 10 Institute in Canada as it is One of The top Destination for MBA.
- Mc Gill
- Schulich School of Business
- Ivey Business School
- Rotman School of Management.
- Desautels Faculty of Management
- Sauder School of Business
- Queen’s School of Business
- HEC Montreal
- Alberta School of Business
- Beedie School of Business
What’s The Takeaway?
Evidently, completing your MBA from a good college in abroad is a much better option. India does homes good B-schools. But the ones in the likes of the USA and UK promise much more returns and greater career opportunities. Interestingly, studying abroad is not as expensive as is perceived; at least when compared to studying in top universities in India. Read this: What’s The Return on Investment of Studying Abroad?
So, if you’re planning to study MBA, consider going with a good B-school abroad; preferably in the USA that homes some of the best universities in the world. This is especially true if you’re looking for higher pay. The average of the 12 business schools in the US whose MBAs take the highest salary is USD 174k.
Get Help from Overseas Education Consultants
Of course, getting admission to a top university won’t be easy. You’ll be required to have a rich academic background. You must score high in your GMAT; you should definitely sign up to a good GMAT coaching center. The application process will pose its own challenges.
So, it’s better to hire a good overseas education consultant and talk on their study abroad student services. Having experts by your side to assist you on every step – right from finding a good college to preparing you for admission tests to handling your visa application – can make all the difference, improving your chances of getting admission in the desired university.
Recommended Read: How to Prepare for Entrance Tests to Study Abroad?