If you are reading this, you probably plan to study MBA abroad after your bachelor’s. Now it is essential to choose the best country for MBA in 2024 as the curriculum, opportunities, career prospects and your future depends on it. MBA is a valuable degree in the corporate world. Studying abroad for an MBA allows students to gain insights into international business and apply them to future projects. It also provides opportunities to work with multinational companies.
There are several factors to consider before choosing the country and university for pursuing an MBA. This article aims to guide you through some of the best countries for studying MBA.
Why study MBA Abroad?
Are you considering pursuing an MBA degree abroad? Before you explore the top countries for studying MBA, take a look at the benefits of studying MBA abroad.
- World-class education: Pursuing an MBA abroad allows students to enrol in top-ranked MBA colleges where they get high-quality education.
- International Exposure: Studying abroad brings the opportunity to explore different cultures in a diverse environment, allowing one to broaden their perspectives.
- Job Opportunities: Students graduating from top-universities are highly preferred by employers. Universities help students in securing a job through networking event, internships and job placements.
Which are the Best Countries for MBA Students?
The best countries for MBA are –
- United States
- United Kingdom
- Canada
- Australia
- Germany
- France
- Spain
- Singapore
- Switzerland
- The Netherlands
1. United States
The United States ranks as the best country to study MBA abroad. MBA courses were first taught in the US. Business schools in the US have the best educational infrastructure. The duration of an MBA in USA is 2 years. Internships are part of the MBA program to provide work experience to students. Students can build their network to find the best career opportunities during the two years. World-class education in the USA makes students ready for jobs in multinational companies. According to Forbes, the average cost of an MBA in the USA is $61,800. The average MBA salary in the USA is $11500 per annum. Check your eligibility for MBA in the USA.
Best Business Schools in USA:
- Stanford Graduate School of Business
- Harvard Business School
- Wharton School of the University of Pennsylvania
- MIT Sloan School of Management
- Columbia Business School
- Haas School of Business
- Kellogg School of Management
2. United Kingdom
The UK is a major hub for banking and finance. The UK is an attractive destination for international students who want to pursue MBA. This is mainly because the MBA course duration in the UK is only 1 year. This makes the cost of studying MBA in the UK lesser compared to other countries. MBA from the UK is recognised and accepted worldwide. As per QS Global MBA Rankings 2024, the UK has 8 business schools in the top 100 in the world. The cost of studying MBA in the UK is more than £20000. Salaries for MBA graduates from the UK are more than £80000.
Best Business Schools in UK:
- London Business School
- University of Cambridge Judge Business School
- University of Chicago Booth School of Business
- Saïd Business School
- Imperial College Business School
- Warwick Business School
- Alliance Manchester Business School
3. Canada
Canada has 6 business schools in the top 100. It is a popular choice for Indian students to study MBA. Canada has several opportunities for graduates to stay back for jobs. Most of the MBA programs in Canada have a 2-year duration. Some universities provide an 18-month MBA course. Canada is also one of the safest places to live for international students. The cost of studying in Canada is above CAD 40000 (25 lakhs). The average MBA salary in Canada is more than CAD 90000 per annum.
Best Business Schools in Canada:
- Rotman School of Management
- Ivey Business School
- Desautels Faculty of Management
- Smith School of Business
- UBC Sauder School of Business
- Schulich School of Business
- Alberta School of Business
4. Australia
Australia has a large community of Indian students as the living conditions are similar in both countries. There are highly-ranked universities in Australia providing MBA programs. These B-schools teach students the skills to become great entrepreneurs. Australia has easier immigration policies compared to other countries mentioned earlier. MBA courses in Australia have a duration of 15 months to 2 years. The average tuition fee for MBA in Australia is AUS $60000. MBA graduates from Australia earn around AUD $80,000 to AUD $196,000 per year.
Best Business Schools in Australia:
- Melbourne Business School
- Australian Graduate School of Management
- Macquarie Business School
- Monash Business School
- UQ Business School
- University of Western Australia Business School
- Australian National University
5. Germany
Germany is the leader in automotive and electrical technologies. Companies like Siemens, Volkswagen, Mercedes-Benz Group, Deutsche Bank, and Daimler operate in Germany. German business schools are a good choice for MBA as you will get opportunities to work in international technology companies and network with experts. Germany offers many MBA courses in English so international students can enrol. Germany has a large economy due to these automobile companies which provide high-paying jobs. MBA programs in Germany are 1-2 years long. The tuition fee for MBA in Germany ranges from EUR 10000 to EUR 50000 (9 lakhs INR to 45 lakhs INR). There are public universities in Germany that have zero tuition fees. In Germany, the salary for MBA graduates is around EUR 36,000 to EUR 73,500 (INR 32 Lakhs to INR 65 Lakhs).
Best Business Schools in Germany:
- Mannheim Business School
- Frankfurt School of Finance & Management
- WHU – Otto Beisheim School of Management
- ESMT Berlin
- HHL Leipzig Graduate School of Management
- EU Business School
6. France
France became one of the first countries to offer MBA courses in Europe. Two of the top 10 business schools in the world are from France. Full-time MBA programs in France last for 1-2 years. As Paris is a popular business hub with many brands, students will get good exposure. Learning French will be an additional benefit for the students. The average MBA tuition fee in France ranges from 25,000 EUR to 45,000 EUR (22 lakhs to 40 lakhs). The average annual salary of MBA graduates from France is 86,000 Euros.
Best Business Schools in France:
- HEC Paris
- INSEAD
- ESSEC Business School
- EDHEC Business School
- ESCP Europe
- EMLyon Business School
- Grenoble Ecole de Management
7. Spain
Spain is a country with rich culture and heritage. Three of the top 20 business schools in the world are from Spain. The course is 1-2 years of duration depending on the university. Some full-time MBA courses in Spain can be completed in one year. The average tuition fee for MBA in Spain is around 10,000 EUR to 50,000 EUR (9 lakhs INR to 45 lakhs INR). MBA graduates from Spain receive around €67000 per year.
Best Business Schools in Spain:
- IE Business School
- IESE Business School
- Esade Business School
- Universidad Carlos III de Madrid
- Universidad Carlos III de Madrid
- ESIC Business & Marketing School
- EAE Business School
8. Singapore
Singapore is a favorite destination for Asian students. It is a business-friendly location with the headquarters of MNCs like DBS Group, Wilmar International, and Singapore Airlines. MBA courses in Singapore are English-taught. MBA courses in Singapore have a duration of 12-18 months. The average tuition fee for an MBA in Singapore ranges from around 60,000 SGD to 105,000 SGD (35 lakhs to 65 lakhs). On average, MBA graduates in Singapore can expect a starting salary ranging from approximately 80,000 SGD to 120,000 SGD per year.
Best Business Schools in Singapore:
- National University of Singapore
- Nanyang Technological University
- University at Buffalo
- S P JAIN School Of Global Management
9. Switzerland
Switzerland is famous for its banking sector. The country is a major location for finance in the world. Switzerland is home to many top companies like ABB Ltd, Nestlé, and Credit Suisse. MBA courses in Switzerland have a duration of 2 years. The MBA tuition fee in Switzerland is around CHF 30,000 to CHF 60,000 per year. After MBA you can earn CHF 100,000 and CHF 180,000 annually in Switzerland.
Best Business Schools in Switzerland:
- IMD Business School
- University of St.Gallen
- United International Business Schools (UIBS)
- International Business Academy of Switzerland (IBAS)
10. The Netherlands
The Netherlands has produced famous companies like Philips and Unilever. The Netherlands is also known for its affordable and high-quality education. Even though it is not an English-speaking country, they provide MBA programs in English for international students. MBA programs like Economics, Marketing, and Accountancy are offered with a duration of 1-2 years. The average tuition fee for an MBA program in the Netherlands ranges from approximately 15,000 to 30,000 EUR per year for international students. The average salary for MBA graduates in the Netherlands is estimated to be around 60,000 to 80,000 EUR per year.
Best Business Schools in The Netherlands:
- Rotterdam School of Management
- TIAS School for Business and Society
Eligibility Criteria to Pursue MBA Abroad
- Educational Requirements: To study MBA abroad you must complete a bachelor’s degree from a reputed institution with good grades.
- Exams Required: GRE and GMAT are accepted as standardised tests for MBA admission. You must also have good scores in language proficiency tests like IELTS, TOEFL, PTE, or Duolingo.
- Documents Required: Resume, statement of purpose, letter of recommendation, academic transcripts.
- Application Process: Once you select a country to study, evaluate your profile to check if you are eligible to study there. Then you can apply to universities and submit the necessary documents.
Frequently Asked Questions
1. Which is the best country to do MBA?
The USA is ranked as the best country to study MBA due to several factors. The US has several prestigious universities that are top-ranked in the world. After your studies, you will come across extensive career opportunities.
2. Which country is the cheapest for MBA?
Canada offers high-quality education at an affordable tuition fee. In Canada, the average tuition fee ranges between $30,000 – $40,000 per annum.
3. What are the career options available after MBA?
MBA graduates can apply for jobs like Investment Banker, Management Consultant, Marketing Manager, Product Manager, Project Manager, Program Manager, Business Development Manager, Human Resource Manager, etc. There are several career options available in departments like Finance, Management, Marketing, Human Resources, Sales, Operations, etc.
4. What is the cost of studying MBA abroad?
The cost of studying MBA in various countries:
- Australia: AUD 38,000 – AUD 90,000 (approx.)
- Canada: CAD 30,000 – CAD 45,000 (approx.)
- New Zealand: NZD 30,000 – NZD 50,000 (approx.)
- Ireland: €9,900 – €35,000 (approx.)
- Germany: €10,000 to €30,000 (approx.)
- The UK: £6,000 – £30,000 (approx.)
- The US: $10,000 – $35,000 (approx.)
5. What are the factors to consider when choosing a country for MBA?
Some factors to consider while selecting a country for MBA are:
Transferability: Check whether the degree from that country will be accepted by companies in other countries
Language: Ensure that you know the language in which the program is taught. In some countries, classes may not be taught in English.
Cost: Research the cost of living and tuition fees in the country to see if you can afford it.
Employment Opportunities: Evaluate the job market in that country and if you can work there after your studies.
Goals: Make sure that studying in that country aligns with your professional goals and will contribute to your career growth.
6. What are the benefits of studying MBA abroad?
International Exposure: Studying abroad gives you the opportunity to learn in a diverse environment. You will be taught by top faculties from across the world.
Job Opportunities: Universities provide internships and placements in large companies.
Networking: Students will create connections with professionals which will be valuable in their career to find work opportunities.
High Salary: Graduates from international business schools get higher salaries as their degrees have a higher value.
Practical knowledge: MBA programs abroad give you an industry-based curriculum that will include internships in companies to give you practical knowledge.