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MBA ADMISSIONS ABROAD 2024
How much will an MBA Abroad cost?
USD 126,465 per year approximately in the US ( Stanford MBA ) to EURO 99,500 (INSEAD MBA ) in Europe to CAD 136,410 ( Rotman MBA ) and S$94,730 in Singapore ( NUS MBA ) is what an MBA abroad may cost you in 2024 for the top ranked schools there.
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When pursuing an MBA abroad the cost has different components - tuition, living expenses, housing, medical insurance, health fee etc.
While the tuition fees is decided by the school, the cost of living of the city that you choose to pursue your MBA program at will matter a lot.​
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Apart from the costs there are many more factors about Which MBA is Good .
Which is the cheapest country to study MBA?
One year MBA in India is definitely the ​most economical programs among the MBA programs offered Internationally.
At a certain location let's say US or Europe a one year MBA in US will definitely be more economical than a two year one, as it saves one year of living costs etc for the students.
This is why amongst the top ranked MBA programs in the World, the one year MBA in Europe is finally cheaper than a two MBA from the M7 programs in the US.
Let's compare the costs of a few MBA programs in 2023-24:
Harvard MBA costs: USD 260,000 approximately
Schulich MBA costs for International students: $117,850
HEC MBA costs: Euro 125,000 approximately
ISB MBA: INR 42,00,000
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Is GMAT compulsory for MBA abroad?
No, although GMAT is an essential component for applying to MBA abroad, there are MBA programs that offer GMAT waivers.​ To list a few, some MBA programs offering waiver for test score in 2024 are:
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Every school that offers the GMAT test waiver has a specific process of applying for the waiver, it is important to follow the deadlines. In addition there are MBA programs which are test optional which means that the applicant can submit a test score optionally. Some MBA programs which are test optional in 2024 are Babson MBA and Georgia Tech Scheller MBA .
Should I do GMAT or GRE?
GMAT or GRE are equally acceptable for applying to MBA programs. As an applicant you should write the mock tests and choose the test which suits your learning style and where you can achieve the highest score. The GRE score range accepted to different US MBA programs is different from that of the GMAT scores. Therefore choose a test which exemplifies your learning style the best.
In 2024 the GMAT exam and the GRE exam both have new versions which gives the applicants to choose the exam based on their academic calibre.
Which countries don't require the GMAT?
All countries require GMAT or GRE test scores for MBA admissions, but there are options of applying for a Test Waiver, applying to a Test optional program.
Who is eligible for MBA abroad?
The eligibility for applying to an MBA abroad is as follows:
1. A credible bachelors degree from an accredited institution.
2. A GMAT or a GRE​ test score is required to be eligible for applying to an MBA abroad.
3. Some work experience is preferred. A minimum of 1 or 2 years work experience according to the University criteria is a must. However, the average work experience at MBA programs abroad ranges from 4 to 7 years, therefore applicants must have prior work experience.
4. To be eligible to apply for an MBA abroad you must have an IELTS or a TOEFL score. Some schools however do not require this mandatorily.
Is MBA abroad really worth it?
Yes, an MBA abroad is worth it in the following cases:
1. If you are clear that you want to settle abroad and have long term career plans in the country where you are applying for an MBA abroad.
2. Pursuing an MBA abroad is costly, it is worth it if you have planned your finances well and calculated the ROI of the investment in the MBA programs.
What is the duration of MBA Abroad?
The MBA programs abroad are usually 1 year or two years in duration. There are many options offered which provide the students the flexibility to design their own course of action for the MBA programs. This includes choices to pursue an International immersion, a global internship, additional mentorship or electives.
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In addition, there are programs for MBA abroad like UBC Sauder MBA which is 16 months in duration and the McGill MBA which gives the option of 12 months or 20 months for the MBA students. DeGroote MBA offers two options the standard full time MBA which is 20 months in duration and the Co Op MBA which is 28 months in duration.
Therefor the duration of the MBA programs varies according to the program eligibility and the offerings.
Can I do MBA abroad without experience?
You can apply to MBA programs while you are still in college through the Deferred MBA options but you can join an MBA abroad only after atleast 2 years of work experience, in most cases.
Indian two year MBA programs are the ones which one can apply to without prior work experience. The admissions process for the 2 year MBA in India accepts the CAT exam scores.
If you have a GMAT or a GRE score and not completed 2 years of work experience you can also apply to ISB Early Entry Option .
FT Global MBA Rankings 2023
Insead, France/Singapore
Iese Business School, Spain
Harvard Business School, US
Stanford Graduate School of Business, US
SDA Bocconi School of Management, Italy
University of California at Berkeley: Haas, US
Cornell University: Johnson, US
Northwestern University, Kellogg School of Management, US
Yale School of Management, US
Duke University's Fuqua School of Business, US
MIT: Sloan, US
University of Chicago: Booth, US
UCLA Anderson School of Management, US
Dartmouth College: Tuck, US
London Business School, UK
HEC Paris, France
University of Virginia: Darden, US
New York University: Stern MBA , US
Ceibs, China
University of Southern California: Marshall, US
University of Cambridge: Judge , UK
NUS MBA , Singapore
University of Michigan: Ross, US
Washington University: Olin, US
Georgetown University: McDonough, US
International Institute for Management Development (IMD), Switzerland
Indian School of Business, India
Carnegie Mellon: Tepper US
Indian Institute of Management Ahmedabad, India
Indian Institute of Management Bangalore, India
University of Toronto: Rotman MBA , Canada
Queen's University: Smith MBA, Canada
Indian Institute of Management Calcutta , India
McGill University: Desautels MBA , Canada
Western University: Ivey MBA , Canada
Indian Institute of Management Indore , India
Indian Institute of Management Lucknow , India
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