Difference between doing MBA/PGDM in India and Abroad
Are you confused regarding pursuing MBA in India or Abroad? If so, then it’s worth understanding logically the pros and cons involved in each case so that you can take an informed decision for your future.
According to ASSOCHAM (The Associated Chambers of Commerce & Industry of India), India has around 5,500 business schools offering close to 5,20,000 seats (data for the year 2015-16).
Except for a handful of top Business schools like the top IIMs and other few, most of 5,500 B - schools in the country are producing sub-par graduates who are largely un-employable resulting in these pass-outs earning less than Rs 10,000 a month if at all they find placements, an ASSOCHAM study has pointed out.
Expressing concern over the decay in the standards of these B-schools, many of which are not properly regulated, the study by the ASSOCHAM Education Committee (AEC) noted that only 7% of the pass-outs are actually employable in India excepting graduates from Top IIMs.
While on an average each student spent nearly Rs 3 to Rs 5 lakh on a two-year MBA programme, their current monthly salary is a measly Rs 8,000 to Rs 10,000. Even the quality of IIM/IIT students coming out now compared to the last 15 years has come down due to the quality of school education. The faculty is also another problem as few people enter the teaching profession due to low salaries and the entire eco-system needs to be revamped.
ASSOCHAM said that the mismatch between aspirations of students and their level of preparation is crucial as most of the fresh graduates are afraid of getting their hands dirty. The flaw lies with the negligible hands-on training provided at Tier 2 and 3 colleges.
An average B-School India or abroad will be easier in terms of entry requirements but obtaining such degree will be fruitful neither in the short term nor in the long term. You need to look out for various parameters including the college brand reputation, infrastructure, placement statistics, alumni feedback before you shortlist your country and list of B- schools.
MBA/PGDM in India VS Abroad:-
For the sake of argument, we will compare Newer IIMs with Schools like Edhec, Frankfurt school. To get admission in new IIMs you need to score very high in CAT around 96-97 Percentile and for schools like EDHEC, a student needs a GMAT score around 600.
The hard work required to score 600 in GMAT VS 97 percentile in CAT is very much different. Scoring 600 in GMAT is not very difficult, a student just needs the right strategy and planning. But to score 97 percentile is 400% more difficult comparative to GMAT.
Now coming to the question of return on investment.
How much a student can earn after graduating from IIMs, on an avg 15-18 lacs?
A student graduating from a tier 1 B-school in France or Germany can easily earn 55,000 Euros to 60,000 Euros or 40-50 lacs INR.
Now coming to the question of How to get admission?
A student needs a strong GMAT Score, strong motivation and expert Guidance who has gone through the same process in their lifetime.
Getting admission to one of the Top B-school in the world is not very hard but it requires right guidance and support to the aspirant. Budget required to study abroad
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