Want to do MBA in India or Abroad? Fees, Eligibility, Admission Criteria

The Educational Scenario in India has changed dramatically in the last decade. Master of Business Administration, popularly known as MBA is one of the Master's Degrees that has played an important role in the Higher Education System of India. In recent times, India has acquired the 5th position among the most popular International Educational destinations globally.

 

India is heading rapidly toward being a developed country, it is observed that acquiring an MBA Degree is comparatively less expensive than elsewhere; especially in the US. But, this parameter is not enough to pursue your Master's degree in India.

Want to do MBA in India or Abroad?

There are certainly more aspects that would fascinate you to earn the Business Degree from India. Various Indian educational institutions are there, that offer MBA degree certificates, in collaboration with some of the well-acclaimed International Business Schools worldwide.

This move of the educational institutes has helped Indian students to get a quality education at the home itself! With more than two million degree holders, India has the world's second-largest pool of MBA students.

This rich crop of talented managers is harvested from more than 5,000 schools spread across the country. Starting from Gopal Vittal to Richa Kar, India has stood extraordinarily in the front of serving the globe with world-class leadership in the Business category.

There are certainly many prestigious Management colleges that provide MBA degree certificates in India that are of prime level. Indulging in the procurement of an MBA degree in India does need a handsome financial significance, though the amount is much cheaper than studying abroad.

MBA in India

Types of MBA Colleges in India

To have a comprehensive understanding of the types of colleges, basically Management Colleges, you need to understand the various types of Schools that offer MBA degrees. The following aspects do focus on the various concerns of pursuing an MBA in India:

In India, there are three types of colleges offering MBAs-Public, University-run, and Private Institutions.

Want to do MBA in India or Abroad?

Most public schools function under the Government of India's Ministry of Human Resources Development (MHRD). They have reasonable operational autonomy while adhering to the policy and governance frameworks of the ministry. The Indian Institutes of Management (IIMs) are the most widely known public schools.

There are also a variety of university-run colleges such as the Faculty of Management Studies, Delhi University.

Private institutions are the third category of MBA colleges in India. These are independent colleges and faculties operated by private universities. The Xavier School of Management (XLRI), and the Amity Business School, Amity University, are examples of private institutions in India.

How much MBA cost in India?

IIM MBA Fees in India: The fees for full-time IIM MBA vary. Most colleges offer programs costing INR23,00,000 ($28k) per annum but some IIMs cost less, such as IIM Sambalpur with its fees of INR13,03,300 ($16k).

COST OF MBA AT PRIVATE BUSINESS SCHOOLS IN INDIA

Among India's private business schools, ISB Hyderabad is by far the most expensive with tuition fees costing INR34,63,000 ($42k).

This cost is balanced out by the school's impressive salary statistics. The average student in the Hyderabad MBA-equivalent Program in Management (PGP) sees a 184% increase in their per-enrollment salary within three years of Graduation.

This was the highest salary percentage increase among graduates from business schools anywhere in the world in 2022, according to the Financial Times.

MBA fees in India for the full-time program range3ewXZ from INR 20,000 to INR 40 lakh. While the fees of MBA programs offered by universities and government colleges are pocket friendly, the same program offered by private institutes is expensive.

Want to do MBA in India or Abroad?

MBA college fee in India depends on several factors like infrastructure, hostel facility, extra-curricular activities, and pedagogy. For example, if an MBA institute offers an international immersion program wherein; the candidates have to visit a foreign university for a semester or a certain duration, the course fee of that institute will be high.

On the other hand, if the MBA institute is funded by the Government, the fees will be less. Yes, one of the major reasons behind the low MBA fees of Government Colleges and Universities is financial aid given by the state or the central government to run their academic programs.

MBA aspirants who plan to pursue an MBA course in the upcoming academic session must start searching for the most suitable MBA college for themselves now. In this search, MBA fees will be a major factor to influence your decision.

When talking about MBA colleges in India, it is impossible not to talk about the Indian Institute of Management (IIM), the premier MBA institute in India. There are 20 IIM campuses in India and MBA fees at IIMs range from INR 11 lakh to INR 23 lakh.

While the fee for the PGP program at IIM Sirmaur is INR 11 lakh; the fee for the MBA program at IIM Ahmedabad is INR 23 lakh.

MBA Fees in B-Schools

MBA Fees in Top B-Schools other than IIMs

Some of the top B-Schools apart from the IIMs are FMS Delhi, XLRI-Jamshedpur, MDI-Gurgaon, SPJIMR-Mumbai, and IIFT-Delhi. These institutes offer the best infrastructure, faculty, pedagogy, international exposure, and placements. MBA fees of these B-schools range from INR 11 to INR 35 lakh. The only exception here is FMS-Delhi whose fee is INR 20, 960 per year.MBA fees less than Rs. 10 lakh

Want to do MBA in India or Abroad?

Most of the MBA colleges in this fee range are the departments of management studies of IITs. The MBA programs offered by these institutes are not only economical as compared to private B-Schools but are also highly ranked in the annual ranking by MHRD-NIRF and offer excellent placement opportunities.

MBA Fees less than Rs. 5 Lakh

MBA colleges in this fee range include popular institutes like Symbiosis International University (Deemed) and Prin. L N Welingkar, Christ University, Chandigarh University, and Amity University. These universities offer a number of MBA programs within the budget.

MBA Fees less than Rs. 1 Lakh

MBA colleges with fees less than INR 1 lakh are mostly Departments of Management Studies of Central or State-level Universities. Even though their fees are on the lower side, these institutes are recognized by the University Grants Commission (UGC).

MBA in Abroad

MBA ABROAD FOR INDIAN STUDENTS: UNIVERSITIES, COLLEGES & FEES CHANGE COURSE / COUNTRY

Having an MBA Degree abroad is a widely opted Master's program in the world. This master in Business Administration program is available in a range of specializations to train students in the field of management. Universities abroad offer an MBA program to prepare future business leaders. Countries like the UK, USA, Canada, etc. are the preferred choice of Indian students to pursue an MBA Abroad program.

Want to do MBA in India or Abroad?

MBA Admission abroad is based on the GMAT score and performance in one of the English Proficiency Tests like IELTS, TOEFL, etc. The minimum first-year tuition fees start from INR 1 lakh to complete the degree. The average salary that MBA graduates get in abroad is around $135k yearly.

MBA in Abroad eligibility criteria

Admission to the MBA program is based on the eligibility criteria and the qualification of the entrance exam accepted by abroad universities. We have mentioned below the basic criteria accepted all over the world.

  • Candidates are required to complete their higher academic qualifications first.
  • He/she must hold a Bachelor's degree in any discipline.
  • Take the GMAT Exam to secure a seat at the top Universities Abroad.
  • Qualify for any of the popular English proficiency exams i.e. IELTS, TOEFL, PTE, and DUOLINGO.
  • Statement of Purpose (SOP) and Letter of Recommendation (LORs).

Work Permit after MBA

Many countries give permission to students to work in the country after completing the degree. Students need to follow some criteria to get Post Study Work Permit abroad. This will allow them to stay and work in the country. So many countries give work permits study to students.

MBA Scholarships abroad

There are over 950 scholarships in abroad for master's programs that students get based on the criteria. Abroad universities offer lots of awards and scholarships that help students in completing their degree on a lesser budget.

Can I get some relief in my salary to study MBA abroad?

Students get awards and scholarships at abroad universities based on their criteria. There are many scholarships program available for master's program that is offered by abroad universities.

How do I get admission to the MBA Abroad program?

To get admission to the MBA abroad program, students are required to meet the admission criteria. They need to complete the Bachelor's Degree and submit the score of one of the popular English proficiency exams.

What average salary do MBA graduates get in abroad?

The average salary that an MBA student gets is around USD 92k yearly.

Can I study MBA abroad for less than INR 10 lakh?

University of Hamburg, Leipzig University, University of Padova, Riga Technical University, Kathmandu University, Kathmandu University, European International University, etc. are the universities where students can complete their MBA degree in less than INR 10 lakh.

Which exams are valid to study MBA Abroad?

GMAT, GRE, PTE, TOEFL, IELTS, etc. are some of the major exams that are accepted by Abroad Universities for MBA admission. Students are required to take any of the English proficiency exam scores during the process.

Which is the cheapest country to study MBA abroad?

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

Which are the highest paying specializations of MBA abroad?

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

What is the cost of an MBA abroad?

The average cost of an MBA abroad for students is around INR 22.86 (1st-year tuition fees).

Which abroad country is the best for MBA?

USA, France, Singapore, Canada, and the UK are the top preferred countries among students to study MBA Abroad.

Which are the top Business Universities in Abroad for MBA?

Stanford University, The University of Chicago, The London School of Economics and Political Science, Stanford Graduate School of Business, London Business School, etc. are some top Business Universities to study MBA Abroad.

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