By: Emdi Iyer.
Global MBA Compass is a country-by-country series designed to help students navigate one of the most important academic and career decisions of their lives: choosing where to pursue an MBA. From the US and Europe to Asia and emerging study destinations, this series breaks down how MBA programs differ across countries—covering costs, admissions, curriculum style, work opportunities, visas, and long-term career outcomes.
Instead of rankings or hype, Global MBA Compass focuses on clarity, context, and real-world relevance, helping aspirants understand which MBA destination aligns best with their goals, background, and budget.
MBA in USA
Every country is strongly marketing their MBA programs yet the universities in United States of America have grabbed the top positions and have remained there since quite some time. According to statistics the B-schools of USA accounts for the maximum number of best B-schools of the world. Students from all over the world Zero in on USA to acquire their MBA degree. A plethora of career opportunities are open to those with an MBA degree from the top notch business schools of United States.
All the business management schools across the world are rated into tier 1, 2 and 3 and so on. Top 5 schools of USA are in Tier 1 and it is very difficult to get into them. The rest of the business schools across the world fall into the other tiers. All the business schools of the country are further categorized into private institutes which are autonomous or public which is state supported. The students have an option to choose a private institute or a public one. The fee structure differs from university to university and their tier. The better the ranking more expensive it would be. A student has to do some self analysis and introspection regarding his capabilities and apply to universities which he thinks he can make it to. Choosing the right school depends on the realistic assessment of one’s strengths and weaknesses.
The general requirements are a 4 years degree with 16 years of education before applying to the MBA. The three year degree program of some countries is not valid for some of the MBA programs. Work experience is essential for some schools while there are some who would give a waiver. It is a two year post graduate program while the duration in other countries ranges between 12 to 18 months.
A GMAT score is essential. Students from non English speaking countries have to provide valid TOFEL score. The job prospects in US are fairer and easy. It is easier to get work permit in USA as compared to other countries. Whether one wishes to stay back or return to the home country USA is a wise choice.
Budget and time play a major role in choosing the country. Some of the universities which are best and in descending order of merit are:
- Harvard University (MA)
- Stanford University (CA)
- University of Pennsylvania (Wharton)
- Northwestern University (Kellogg) (IL)
- Yale University (CT)
- Massachusetts Institute of Technology (Sloan)
- Duke University (Fuqua) (NC)
- Columbia University (NY)
- University of Chicago
The cost of the program ranges from $15,000 to $50,000 depending on the university. The international students have some additional costs which are specific to the university. The university web sites provide the total information about the breakup of the costs including the living expenses.
The Harvard business school is the topmost school in the whole world and an MBA from it in any specialization is good enough which provides admittance into the top circles consisting of former presidents and CEOs of major companies, mayors of cities. Only the select few can get into such high profile places.
MBA in UK
MBA has gained lot of importance in the modern scheme of business. More and more students are going towards management as a career option. For some of the high profile jobs it is necessary to have a degree in the relevant field.
For exceptional quality of education there is no place better then the UK which is backed by tradition for the past many centuries. To get the global edge to a career a MBA degree from is the right option. There are many universities in UK which are ranked in the first few of the world. London Business School is one of the highly ranked universities in the world.
One of the advantages of MBA in UK is that the program duration is only 12 months, while the whole world takes two years to 18 months. Most of the students try to take advantage of this fact. Another advantage is that they accept students with three year bachelor’s degree which is not the case in USA or Canada. There are certain universities which may require an honors degree. Student in take is twice a year in September and January. Most of the universities prefer students with two year full time experience. For the accredited MBA programs the work experience required in three years. Students who come in from other countries have work permit and can earn while working for their degree. There are certain universities in UK offering enrolment without work experience. With so many advantages MBA in UK is gaining popularity very fast.
Applications are invited 12 months before the date of commencement of the program and the fee ranges between 10,000 pounds to 12,000 pounds. All the qualified students get certain amount as scholarship like 1000 pounds.
There are many colleges which offer University affiliated MBA programs which work out cheaper. These colleges are small and one has to search for them.
Except for the high ranking universities like the London business school GMAT is not a pre-requisite for admission to MBA in UK. Many of the universities are flexible about the GMAT score. Whereas it is mandatory to have a reasonably good score of TOFEL or IELTS even if the medium of instruction was English all through. Sometime it can be waived off after a personal interview.
Some of the top ranking business schools of UK are:
- London Business School
- LSE – London School of economics and Political Science—University of London
- Cranfield University —Cranfield School of management
- University of Oxford—Said business School
- University of Cambridge – Judge Business school
- University of Warwick – Warwick Business School
- Manchester Business School – The university of Manchester
- University of Strathclyde – strathclyde Business School
All the university except LBS offers the MBA program lasting one year where as at LBS it is two years. It is worth spending the time and money at LBS as it is amongst the top 100 B –schools of the world. getting admission into such coveted schools is not an easy task. One has to work really hard to ghain admission into schools like LBS.
Tomorrow we will cover MBA in Australia and New Zealand.
MBA in Australia
Over the past few years Australia has become a favorite destination to pursue higher education. The numbers of international students are increasing every semester. Number of top notch Nobel Prize winning prestigious universities offers the scholastic opportunities. The country is multiethnic and cosmopolitan in nature with a hospitable environment. Australia is considered to be the home for exceptional b-schools. To expand the career opportunities internationally recognized masters in business administration is conferred by many universities of Australia. Over the past half of a century business world has changed a lot. Unlike olden days it is no longer necessary to work up one’s way. Scope for lateral entry is provided by a masters degree in business administration from Australia.
There are a number of reasons to choose Australia for an MBA degree. Australia is known to maintain a matchless international reputation so it lays emphasis on the MBA programs. The GMAA (Graduate Management Association of Australia) has set a five star system in place which gives an impetus to the improvement of the MBA programs. The improvements incorporated in the program have attracted thousands of students from different countries. There are as many as forty two MBA programs to choose from. Most of the programs are in unison with alumni, industries and the government to synchronize their steps with the latest global demands.
Students with three year graduation are eligible to apply for MBA in Australia. Although some of the top b-schools of Australia go by the GMAT system it is not mandatory. There are many universities which do not need the GMAT scores.
A bachelor’s degree with work experience of two to three years is the pre-requisite. Each university has its own guidelines regarding the number of years of experience. People with considerable work experience and remarkable professional achievements can earn an MBA admission to universities in Australia to pursue MBA. Macquarie Graduate School of Management requires 5 years of professional experience where as there are few universities which accept students without work experience.
The job placement cells in the university and the alumni network together help students to find jobs. The prospective employers and students meet is arranged by the cell. One can get back to the home country and find excellent job offers. To stay back in Australia one needs work permit or an employer who would sponsor. The Melbourne Business School is among the top ranked b-schools in the world and a popular place for international students. Melbourne business school is popular for courses like e-Commerce, Entrepreneurship, Operations Management. The duration of the course is 16 months and costs 42,000 Australian dollars. It needs only 2 years of work experience. GMAT score is essential to seek admission. At Macquarie University one can finish in a year’s time and also costs less and has a 5 year work experience requirement. It is good for general MBA. The costs vary from Australian $ 14,000 to 42,000. The living costs vary according the city and ranges from Australian $10,000 to 20,000. It is mandatory for international student to register for Overseas Student Health Cover (OSHC) to care of healthcare.
MBA in New Zealand
It is a masters degree in business administration which has become the latest attraction for students of various disciplines. The final goal of every student these days is to earn an internally accepted degree in business administration and reach higher echelon.. For exceptional leadership qualities in business in the dynamic global market one needs MBA. For every kind of enhancement in life; increase the earning capacity or reach the pinnacle in the current job or change for better opportunities the right kind of education from the right place is essential. Getting admission at the right place
New Zealand offers some special advantages over other countries to become a favorite destination for education. Of the distinct advantages affordability is one which makes it desirable. The combination of developed nation with the quietness and clam country had made it a destination of choice by many students all over the world. New Zealand has started to welcome students from all corners of the world with open arms. The quiet peaceful countryside and the beauty of the nature provide right kind of setting for a joyful stay while working for MBA.
MBA is mainly designed to create managers of exemplary skills. Each university has its own eligibility criteria. Broadly all of them accept students with a three year bachelor’s degree from any stream and an experience of three to four years in the relevant field. Work experience is must to enroll oneself into any B-school. No university accepts students without work experience for MBA program. There is no use searching for a b-school which would accept students without work experience as it is absolutely essential. Few b-schools of New Zealand need the GMAT score though for most of them it is not essential. IELTS or TOFEL score is required to seek admission in any university in New Zealand.
Here are a few universities which offer MBA programs of different types. Each university is specialized in a certain type of MBA.
- University of Auckland
- Victoria University of Wellington
- Massey University
- University of Canterbury
- University of Otago
- University of Waikato
The academic rigor expected of a world class b-school can be found in the MBA program offered by all the universities while keeping an eye on the real world needs. The programs are life changing and allow the students to grow not just professionally but personally too.
Many international students choose New Zealand for higher education is because it is low in cost. Tuition fee varies from NZ $39,500 to NZ $18,000 and the length of program ranges from 12 months to 24 months. The average living expenses per year may come to NZ $ 12,000 which includes the accommodation and other daily expenses. It may be higher or lower depending on the individual life style. Among other expenses health insurance is a must which costs approximately NZ $ 500-600 per year. The cost is least when compared with other countries. With such quality education at affordable price and excellent living conditions it is evident why students prefer the country.
Tomorrow we will cover MBA in India and MBA in Canada.
MBA in India
The ever expanding base of multinational companies in India has paved way for newer areas for growth of the economy. This also has led to an upsurge in the need for candidates enabled with the skills to manage a business efficiently. India has always been a country where the society gives utmost importance to education; a higher degree holds a lot of value. MBA has become a favorite choice of the youth. They have realized the benefits of the degree and seek admission into the top B-schools of the country. Lot of momentum can be seen in part time executive MBA, online MBA and distance learning MBA over the last decade. Thousands of institutes have spring up which provide quality education.
Of the Management institutes of the country IIMs or the Indian institute of management is crème de la crème. They share a spot on the list of the top 100 b-schools of the world. The liberalization and globalization has spurted momentum in the education in India with special reference to MBA. Specialized MBAs like the MBA in hotel management, fashion technology, communication and so on can be found in the business schools of India. Though IIMs are the best there are other equally good schools like XLRI in Jamshedpur, S P Jain and Jamnalal Bajaj, FMC Delhi and many more. MBA programs can be found in some of the Indian institute of technology too.
The placement and the pay packets depend on the ranking of the institute. Pass-outs of the IIMs earn the most and the pay packets dwindle as the ranking of the institute falls. The all the institutes in the country are grouped into clusters according to their rating.
Any student who has a valid undergraduate degree in any discipline is eligible to apply. Applications from students in their final year of undergraduate course and apply and appear for the basic qualifying exam. It is a two phase test. One is a written examination and then a group discussion and finally a personal interview are parts of the admission process. An admission test called CAT (combined aptitude test) decides the fate of the students. The combined score of the test and group discussion gives the final score.
The fee structure differs according to the type of institute. There is a very large variation in the fee structure. There are three different types of institutes classified as class A, B and C. They are classified on the basis of reputation which comes because of the quality. There are as many as 16,000 institutes dedicated to education in business administration. The fee varies from 2 lakhs to 15 lakhs. It would cost a student something like 15 lakhs to go to the best business school in India were as it would cost something like 20 to 30 lakhs outside the country.
It is beneficial to join any course at IIMs. The name IIM is valued very much and among the top 100 business schools of the world. Owing to the high quality of education they are picked up companies with very high salaries. Aim for IIMs.
MBA in Canada
The modern realm of business requires a proper administrative mind and an aptitude for taking up challenges for its expansion and growth. A MBA degree enables a candidate to develop such skills and contribute towards effective management of a firm.
Statistical analysis showed that the UN has consistently ranked Canada as one of the best countries to live in owing to its high quality of life. Canada offers a diverse multicultural environment and a low cost of living, providing the perfect platform for students aspiring to study MBA in Canada.
An on-campus MBA program is offered in the many streams, some of them are; General, Finance, International Business and Marketing. The entire course is spread over 12 months, and comprises of 2 semesters. Irrespective of the stream, each MBA program comprises of modules which are: Orientation Module, Foundation Module, Specialization Module and finally, Completion Module. The Orientation Module throws light on the interaction between the faculty and the students by addressing topics such as accounting, finance, information technology, strategy, statistics, economics, marketing, and PR. The Foundation Module provides a generalized knowledge of business functions. The Specialization Module emphasizes on the selection of an area of interest and its extensive study. Few of the multitudes of areas where specialization modules can be implemented are:
- Accounts and tax
- Business administration and general management
- Finance
- Market research and marketing management
- Human resources management
- Sales management, to name a few.
Finally, the Completion Module, which comprises of project work and research paper publications. A thesis may or may not be mandatory in addition to a project report or a detailed internship report which is submitted at the end of the completion module.
To pursue a MBA degree in Canada, the minimum eligibility requirement is a 4 year graduate degree with a 70% aggregate score. A student with a 3 year graduation degree has to have a compulsory masters degree before applying to the MBA program. Most of the universities in Canada offering a MBA program may or may not include a work experience compulsion clause. Admission to the MBA course in Canada requires a valid GMAT score and an additional requirement of a TOEFL score for international students from non English speaking nations.
The cost of living being very reasonable in Canada makes it very easy for a student to afford the tuition fees of the MBA program. Many foundations and benefactors provide scholarships to students who are interested in pursuing MBA in a particular university. These scholarships are generally based on merit and could either be full fee waivers or partial scholarships. Apart from the internal funding sources, there are many external sources, such as banks and professional organizations, which provide financial aid to a student.
MBA programs in Canada equip the student with the necessary skills such as logical reasoning, communicative skills. A multi cultural environment provides them to learn the essentialities of teamwork, utilization of theoretical knowledge and development of newer methods to tackle real life situations, and for effective planning for the growth of the organization and their own careers.
Tomorrow we will cover MBA in France and MBA in Singapore.
MBA in France
An MBA program prepares a person take up the management responsibilities in different business scenarios and at different levels. It prepares a person for lifetime. To reach the desired goals a person has to have the right kind of education. Typically the course engages students in the traditional course work along with exposure to real time business challenges. France is one of the destinations to earn a MBA degree. Some of the world renowned business schools like HEC Paris prepare students for the corporate world challenges. The value proportion of an MBA from the best ranked universities is to be understood. The value of a business schools depends on the placement and the pay offered to its candidates.
Frances offers MBAs of varying duration. It has one year program which is full time, two years or sometimes 18 to 19 months are also available. Some of the specializations need two years of full time duration to earn the MBA degree. There is also an executive MBA which needs 18 to 19 months and is a part time course.
Categorization of the MBAs has been done on the basis of function and industry. Some of the MBAs based on the functions are:
- Accountancy & Financial
- Finance
- Entrepreneurship
- Brand Management
- General Management
- The other kind of categorization is based on the types of industry for example:
- Banking / Financial Services
- FMCG – Fast Moving Consumer Goods
- Pharmaceutical / Bio-Medical
- Environment
- Consulting
- Media & Entertainment
- Hospitality
The medium of instruction for most of the MBAs is available in both English and French. Many of the MBA programs go beyond the general business management to provide absolute expertise in the chosen field. There is a provision to earn joint degrees which allows a student to pick up another subject along with the specialization in MBA. One can choose health, law or any other subject. There are a host of reasons to seek admission in foreign countries for example gain broader exposure to other cultures at the same time explore the international experience and which country would be better than France. It is a tolerant and safe country. The high education system of France plays a very significant role in science, business and culture and trains its students with the most modern and updated systems. Some of the business schools of France are:
- Burgundy School of Business
- The American Business School, Paris
- CEFAM International School of Business and Management
- The Strasbourg Graduate School of Management
- EM Lyon Business School
- ESCE Paris
- Douai Business School
- Ecole Superieure de logistique Industrialle
The business schools of France a perfect recipe for success because of the world renowned faculty, strong alumni and international accreditation. The French education system is very different from that of the rest of the world. It is better to apply and let the universities decide about the eligibility. There are public as well as private institutes to choose form.
MBA in Singapore
Considering the demand for the MBA across the primary concern of every student is to get into one of the top ranked business schools. The ratio of the aspirants to the number of seats in a good business school is very high. The numbers of available seats are few and more candidates therefore they aim at the surrounding countries with internationally acclaimed schools. Singapore has turned into a favorite option instead of settling for a tier 2 or 3 colleges. One can expect a better return for the investment with exposure to international business scenario and opportunities to work in an international environment. Singapore is the best option for all those who could not make to the top schools.
B-schools in Singapore are considered the best in the Asia- pacific region. The admission criterion is good academic record rather than any admission test. It is the most appealing choice for most of the students in the region. Over and above easy admission the student is out of college in a years time. It is more accessible for the fresh graduates because of the less time and short duration.
The education system in Singapore provides a global experience which is exciting. It is a conglomeration of knowledge and latest trends from around the world. Singapore is the most viable place price wise. The total cost inclusive of living expenses ranges between 10 to 15 lakhs. The prices are comparable.
Students from more than 30 countries study in Singapore providing an opportunity for global network. Students here are exposed to multiple cultures with is an added advantage. It helps in understanding the rich cultures of other countries. As a means of economical support students are allowed to work for 16 hours a week. It eases the financial burden.
Many companies have their regional headquarters in Singapore. The huge market with 26,000 international companies provides ample opportunities for management graduates to find a suitable job with a sizable pay check. It is one of the safe places for students because of the strict policies of the government. The country has a non tolerant policy towards drugs and other hooliganism associated to university campuses.
One can apply for a permanent resident status and stay back in the country. For those who wish to return to their home country the experience in the global environment is always an advantage. Some of the best schools of Singapore are the National University of Singapore (NUS) business school; Nanyang business schools and INSEAD business school. All the three are leading, fine and life chaning schools.
NUS offer degrees in five specialized areas with two different durations, 12 months and 17 months. It is one of the leading business schools of Asia. Nanyang business schools mainly industry oriented and programs based on research and experience. It offers both general and specialized MBA programs. The special subjects which are offered at Nanyang are finance, accounting, marketing, international business, technology, knowledge management and international studies. It is s possibility of a double masters degree at Nanyang business school.
The skills and techniques required to push up the careers are taught at INSEAD business school. It exposes a student different work cultures. Most of the business schools of Singapore adopt a unique method of teaching in an attempt to prepare the students for a bright and a challenging future.
Tomorrow we will cover MBA in Spain and MBA in South Africa.
MBA in Spain
MBA or Masters of Business Administration is a very lucrative career option. With the world moving towards a global village and individual economies being dependent on each other for sustenance and growth, this qualification is quickly becoming a must have. The concept of a MBA originated in the United States of America during the country’s industrial revolution and has gained immense magnitude in the modern design of commerce and industry. An increasing magnitude of students is opting for this as a career option. For an incrementing number of the prestigious jobs it is obligatory to possess a degree in the pertinent field.
There are a host of business schools spread all across the globe that offer MBA programs with varying criteria such as time duration, on-campus or correspondence, cost, experience, etc. The basic types of MBA programs on offer include areas such as Finance, Marketing, Human Resource, Accounts, etc.
Again, in the European Union there are a host of countries that offer the MBA program. Spain also has many universities that have a Business School where the course is offered. Spain or Hispania is a very vibrant country. After France, Spain is the largest country in the European Union. It is the nation. Since Spain is a country with immense history, it is a highly successful tourist destination. Owing to the geographic location of Spain, the weather is reasonable throughout the year.
Along with the historical significance of Spain, the universities also are valued for their high ranking and international level infrastructures. The visa regulations for Spain are very stringent and require a person staying for more than 90 days in the country to have a residence permit. The residence permit, itself comes with a catch that one must at least have a part-time occupation or a stipend from the university to support them during their stay.
The Universities that offer the MBA course are Caixanova Business School; EADA Business School; IESE, Barcelona Business School, International University of Southern Europe, ESADE Business School; Escuela Europea de Dirección y Empresa or the EUDE; Escuela de Negocios de Navarra; ESDEN or Escuela Superior de Negocios y technologias, IEBS formerly known as Instituto de Empresa Business School amongst many others.
According to many of the different ranking available on the internet, it is quite evident that the older established Business Schools such as the IESE and the IEBS, EUDE, ESADE are highly reputed for their quality of the course as well as the infrastructure that is available to the students. Many universities offer financial assistance to students in the form of scholarships and tuition fee waivers. One of the prerequisites for admission to any business school in Spain is work experience. Business Schools such as the IESE and IEBS ask for an experience of about 2-5 years in the area that the student wishes to take a MBA degree. However, other universities might ask for a valid GMAT and/ or TOEFL or IELTS score. However, for the deserving candidates, this can also be waived off.
MBA in South Africa
Leaders with comprehension about the dynamic of the world business are very important to be build world class enterprise. Every manager is faced with unique challenges peculiar to a country and type of business. Through a range of management programs the human resource is nurtured into a factor which writes the success story of a business. MBA is a program which turns normal humans into exemplary managers. They are taught to capitalize on strength and turn around the threats into opportunities. To become effective managers all the required skills are developed while working to earn an MBA.
South Africa which is known as the power house of Africa is a very young market which has just made its appearance on the global stage after breaking free from the shackles of racial divisiveness. South Africa is presently experiencing phenomenal rate of growth and there is a constant demand for skilled man power in the field of management. MBA is a tool which is required to withstand the competition of the world.
Presently South Africa has made a mark in the field of business education. It has many as 19 MBA programs which are accredited. As the country is progressing towards the new horizons the demand for competent managers is bound to grow. As it is a very high number of students enroll for different MBA programs.
There is very little knowledge among general public about South Africa being the home for first MBA program after USA. The program was started way back in 1949 at The Graduate School of Management at the University of Pretoria (GSM) with 25 students.
There are many different types of MBAs to suit every kind of requirement and students from all over the world are welcome. For world class education one needs to shell out less due to the low exchange rate.
There are certain requirements for international students which have to be fulfilled before the application is considered. One should have a study permit or permanent residency permit and medical insurance coverage. The eligibility differs from level to level. GMT score an international benchmark is compulsory for admission to GSB. It is not compulsory for other b-schools. Work experience and background are also matters of consideration. An undergraduate degree is essential which is recognized by the University of Cape Town. Every applicant has to further write the National Benchmark test to further evaluate the capabilities of a candidate.
Broadly the application should have the following documents:
1. SOP or Statement of purpose
2.Copies of transcripts for all previous university studies
3.Copy of reports for final year projects in PDF format
4.A list of published journal articles, if any
5.Three letters of reference
6. TOFEL internet based test score is a must for non English speaking students.
To study in South Africa there are certain visa obligations which have to be fulfilled. All the formalities have to be cleared before embarking on the journey to success. The tuition fee varies according to the nativity of the student. Students from the SADC would be around Rand (R) 124,500. Students from rest of Africa is R 154 500, and for international students it would cost nearly R 190,500. Though the number seems to be enormous it still works out to be less because of the low exchange rate.
