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MBA Abroad – Eligibility, Program, Schools, Fee, Deadlines

Highlights of MBA Abroad

  • As per statistics, there is a total of 930 (approx.) MBA universities abroad.
  •  Six countries are considered the best to study MBA abroad, including the USA, UK, Canada, Australia, Germany, and Singapore.
  • GMAC report states that from 960 recruiters, 91% aim at hiring USA’s MBA graduates.
  • Each school has different eligibility criteria and admission processes. Check it out. 
  • Some colleges demand GMAT or GRE, but some allow you to apply for a GMAT waiver.  
  • MBA Abroad fees can go up from USD 100,000 to USD 200,000.
  • As MBA from abroad cost is pretty high, they also offer scholarships on the basis of merit and need-based. 
  • These are the top specialization considered abroad, General Management, Finance, Human Resources, Accounting, etc.

WHY PURSUE AN MBA FROM ABROAD?

  • Global Recognition

You get global recognition when you do your MBA from top economically developed countries like the USA, Canada, the UK, Australia, Germany, and others. You get new perspectives and exchange knowledge through their culture, values, and community. 

  • Great Networking Opportunities

Being exposed to a broader community gives you an opportunity to build relationships with other professionals in the classroom with diverse backgrounds, faculties, potential employers, and beyond. This dynamic network will help you to unlock potential opportunities in the future. Just be ready to dive deep to understand the dynamic changes in the corporate environment and observe new ways to adapt fast.

  • Wide Variety of Specializations

MBA Abroad offers you a wide variety of specializations so that you can explore each and every area and then discover your interest. You can opt for full-time, part-time, online, and distance modes to pursue these specializations at your convenience.  

  • Practical Perspective

The very interesting thing about MBA Abroad is its curriculum. It is designed in a way to give students a practical approach that will help them to face business challenges in the future. 

  • Brilliant Career Prospects

MBA from Abroad can be an asset in any industry, from energy to consumer products to start-ups, because the school provides the education and skills that are needed to prove your candidacy. Even if your background is not related to the positions you are applying for, an international MBA degree can open doors to the positions like CXO or top entrepreneurial roles. 

  • High Earning Potential

Recent statistics state that MBA graduates from top b-schools pay higher than an MBA from normal b-schools. This is because the students are trained in management and leadership skills which are very attractive to employers. They want students who are an all-rounder in any area.

  • Scholarship Opportunities

As international degree cost is pretty high, they offer various scholarship opportunities on the basis of need-based and merit-based. They don’t want students to restrict themselves due to financial burdens. 

  • Holistic Development

Getting an MBA degree internationally gives students holistic development. The only motive is to challenge students constantly so that they can learn and hone their skills in every area. This helps them to develop an understanding of the dynamics of the business world.

TOP 15 MBA UNIVERSITIES ABROAD BY QS RANKINGS

MBA in Foreign UniversitiesRegionQS Ranking (MBA) as per 2023
Stanford Graduate School of BusinessStanford (CA), United States1
Harvard Business SchoolBoston (MA), United States2
Penn (Wharton)Philadelphia (PA), United States3
HEC ParisJouy en Josas, France4
London Business SchoolLondon, United Kingdom5
MIT (Sloan)Cambridge (MA), United States6
IE Business SchoolMadrid, Spain7
Columbia Business SchoolNew York (NY), United States8

TOP 15 MBA UNIVERSITIES ABROAD BY THE RANKING

MBA in Foreign UniversitiesRegionTHE Ranking (Business) as per 2023
Massachusetts Institute of TechnologyUS1
Stanford UniversityUS2
University of OxfordUK3
Harvard UniversityUS4
The University of ChicagoUS5
University of CambridgeUK6
University of California, BerkeleyUS7
Tsinghua UniversityChina8
Yale UniversityUK9
London School of Economics and Political ScienceUK10
Columbia UniversityUS11
National University of SingaporeSingapore11
University of PennsylvaniaUS13
Northwestern UniversityUS14
Peking UniversityChina15

TYPES OF MBA PROGRAMMES ABROAD

  • Full-time MBA Program

This full-time program is of two-year, which help students enhance their credibility and marketability as corporate professionals. They fill the gap between theoretical and practical knowledge. 

  • Part-time MBA Program

This program allows you to work and study simultaneously so that you can apply your learnings at your work too. The timings of the classes are very flexible, which is weekends or evenings, so that you can work at your regular times.

  • Online MBA Program

Here, the students have the advantage of attending their classes via the internet and doing something simultaneously to enhance their skills.  A wide variety of colleges and universities around the world offer online MBA degrees. We have given down the list below.

THE EXAM REQUIRED TO STUDY ABROAD

Most schools asks you to give GMAT or GRE to clear the admission process. You can attempt this exam a maximum of 5 times a year. GMAT analyzes students’ ability in quantitative aptitude, analytical writing, critical reasoning, and sentence correction. 

If you are an international applicant, then you need to give an English proficiency test, including,  IELTS, TOEFL, and PTE. 

MBA ABROAD REQUIREMENTS & ELIGIBILITY

  • Official transcripts from all institutions, undergraduate and graduate.
  • You need to give GMAT or GRE (if required) 
  • English proficiency exams are required for international students like IELTS, TOEFL, PTE, and DUOLINGO.
  • Statement of Purpose (SOP)
  • Letter of Recommendation (LORs).
  • Resume (if required)
  • Valid national transport
  • Visa
  • Essays
  • MBA interview

MBA ABROAD WITHOUT GMAT

You can apply for a GMAT waiver letter where you can forgo a test, but you must be confident enough to show adcoms your abilities and have met the eligibility criteria in terms of work experience, degrees, academic history, or other conditions. 

We have listed down the table of top universities where you do not require to give the GMAT, along with the country and average fees.

B-school NameCountryAverage Fees (USD)
Kellogg School of ManagementUSA92,137
Anderson School of BusinessUSA59,228
Kenan-Flagler BusinessUSA60,331
Sobey School of BusinessCanada28,405
Lazaridis School of Business and EconomicsCanada30,018
Schulich School of BusinessCanada35,503
Australian National UniversityAustralia30,052
Monash UniversityAustralia27,083
Macquarie Graduate School of ManagementAustralia24,620
Melbourne Business SchoolAustralia55,129

MBA ABROAD WITHOUT WORK EXPERIENCE

You can apply to the school application process without work experience, but you must have a strong GMAT, a good academic record, and, a strong personal letter. 

B-school NameCountryAverage Fees (USD)
Chicago Booth School of BusinessUSA77,841
Haas School of BusinessUSA58,810
University of NorthamptonUK17,442
The University of West LondonUK15,373
Coventry UniversityUk18,591
Monash University-Graduate School of BusinessAustralia27,617
Graduate School of Business and Law, RMITAustralia30,236
The University of WindsorAustralia18,830
Thompson Rivers UniversityCanada20,856
Brock UniversityCanada20,978

MBA ABROAD: SUBJECTS

We have listed down the table below that shows the general MBA Syllabus for MBA abroad, but it might vary according to the country, and university.  

Year 1 (Fall Semester)Year 1(Spring Semester)
Finance 1Finance 2
Financial Reporting and ControlBusiness, Government, and the International Economy
Leadership & Organizational BehaviorStrategy
MarketingThe Entrepreneurial Manager
Technology & Operations ManagementLeadership and Corporate Accountability
Interpersonal Skills Development LabFIELD Global Immersion
Short Intensive Programs

Year 2 (Electives)

Accounting and ManagementBusiness, Government & the International Economy
FinanceEntrepreneurial Management
General ManagementNegotiation, Organizations & Markets
MarketingOrganizational Behavior
StrategyTechnology & Operations Management

MBA ABROAD SYLLABUS: CORE SUBJECTS

These are the core subjects, but the quality level may differ. 

Customer RelationsBusiness Research
Customer BehaviourAccounting & Finance
Business ManagementEntrepreneurship
Entrepreneurship ProjectStrategic Management
Marketing ManagementContemporary Management
Business EconomicsHuman Resource Management
Operational ManagementManagerial Economics
Business Law and EthicsApplied Statistics

MBA ABROAD SYLLABUS: ELECTIVE SUBJECTS

Managing MarketsAdvanced Finance
InsuranceData Analytics
StrategyCorporate Sustainability Strategy
Basic Excel for Data ManagementRisk Management
International Insurance LawsIntegrated Reporting

The elective subjects vary depending on the college you applied for, but we have provided you the common elective subjects. 

MBA Abroad Specialization

Students, after completing their graduate degree, can apply for this program at abroad universities. The MBA degree is available in:

General ManagementMarketingInternational Business
Supply ChainHealthcare ManagementProject Management
HospitalityHuman ResourcesEconomics
HealthcareAccountingEntrepreneurship
FinanceBusiness (others)Media Management
Sports ManagementTourismBusiness Analytics

MBA Abroad Cost (Country)

CountryAverage Annual Fees
USA$80,000 – $1,20,000
UK$24,000 – $79,000
Canada$24,000 – $80,000
Germany$50,000
Australia$14,000 – $36,000
Singapore$54,000 – $79,000
Ireland$12,000 – $35,000
New Zealand$24,000 – $30,000

The cost varies depending on the country like Ireland offers MBA Abroad at a low cost compared to other countries like the US, UK, and Canada. 

MBA ABROAD SCHOLARSHIPS

As we mentioned, studying MBA from Abroad can be challenging in terms of finances for any international student. But no need to worry because they offer plenty of scholarships. Some of them are listed below. 

CountryName of Scholarships
UKHumphrey Fellowship Program
Foreign Fulbright Student Program
AustraliaThe Commonwealth Scholarships
The Chevening Scholarships and
Charles Wallace Scholarships
CanadaQuebec Provincial Government Scholarship
IrelandNUI Galway International Student Scholarships (Max Arthur McAuliffe Special Merit Scholarship,
Sir Peter Freyer Special Merit Scholarship) and
The Government of Ireland International Education Scholarship
New ZealandPalmerston North City Mayor’s Goodwill Ambassador Scholarship
New Zealand Commonwealth Scholarships and
New Zealand Excellence Awards (NZEA)

Now, we’ll see the top colleges of different countries like the USA, UK, Canada, Germany, and Australia. We have mentioned its duration and its GMAT score. 

MBA IN USA

Name of the CollegeDurationGMAT Score
University of Pennsylvania Wharton1 to 2 years710
Harvard Business School1 to 2 years730
Stanford Business School1 to 2 years737
MIT Sloan1 to 2 years724
Columbia Business SchoolEqual to or more than 3 years.717

MBA IN UK

Name of the CollegeDurationGMAT Score
London Business School1.25 years701
Cambridge Business School1 Year640-730
Said Business School1 Year690
Warwick Business School1 Year660
Alliance Manchester Business School1 Year600+

MBA IN GERMANY

Name of the CollegeDurationGMAT Score
Mannheim Business School1 Year600
Frankfurt School of Finance and Management1 Year660-730
WHU-Otto Beisheim Graduate School of Management1 Year600
European School of Management & Technology (ESMT)1 Year640
European Business School1 to 2 years550

MBA IN AUSTRALIA

Name of the CollegeDurationGMAT Score
Melbourne Business School1 year650
AGSM16 months660
La Trobe Business School18 months600 or more
Monash Business School2 year600 or more

MBA IN CANADA

Name of the CollegeDurationGMAT Score
Rotman School of Management2 Years669
Desautels Faculty of Management1 Years660
Ivey Business School1 Years667
Smith School of Business1 Years654
Schulich School of Business2 Years660

ONLINE MBA COLLEGES ABROAD

These are some top colleges from abroad for online MBA

The University of Tasmania, AustraliaFlorida International University, USA
University of Regina, CanadaNottingham Trent Forest, UK
Massey University, New ZealandHeriot-Watt University, UK
University of Bradford, UKOxford Brookes University, UK
RMIT University, AustraliaWestern New England university, USA

MBA JOBS ABROAD

After completing MBA from abroad, students get better job opportunities with higher packages and great positions due to enhances networking. We have listed down some of the positions with their average salary. However, it depends on the company.

PositionsAverage Salary (USD)
Chief Executive Officer1,53,683
Senior Financial Analyst85,986
Human Resource Manager73,732
Financial Controller93,811
Director of Operations1,11,518
Business Development Manager92,214
General Manager54,600
Project Manager91,013
Strategy Manager50,337
Marketing Manager43,686
Consulting Manager47,324

Frequently Asked Questions

01.

WHICH ARE THE HIGHEST-PAYING SPECIALIZATIONS OF MBA ABROAD?

Finance, IT, Information security, Marketing, HR, Real estate, etc., are considered some of the highest-paid specializations of MBA abroad.

02.

WHICH COUNTRY IS THE CHEAPEST TO STUDY MBA ABROAD?

Norway, Ireland, France, India, Mexico, Poland, etc., are some of the cheapest countries to study MBA Abroad.

03.

HOW DO I GET ADMISSION TO THE MBA ABROAD PROGRAM?

Each and every program is different, and so is its application process, but you need to clear the general criteria to get admission to top b-schools. They must complete a bachelor’s degree and have appeared for English proficiency exams.

04.

IS GMAT COMPULSORY FOR ADMISSION TO AN MBA ABROAD?

In most colleges, Yes, but some of them, like Kellogg School of Management, Anderson School of Business, Kenan-Flagler Business, etc., allow you to submit a GMAT waiver request letter.

05.

WHICH LANGUAGE PROFICIENCY TESTS ARE REQUIRED FOR ADMISSION

TOEFL and IELTS are the two major language tests considered in most b-schools.