Advantage Foreign MBA

Does a foreign MBA degree from a renowned institute enhances your prospects of fetching a good job and gives you an edge over the rest?

    Due to globalisation, liberalisation and privatisation, it has become feasible to pursue an MBA course from foreign universities, especially in the UK, Australia, USA and Canada. Distance learning MBAs and online MBAs from foreign universities still have the same attraction. A foreign degree guarantees more exposure since students need to interact with fellow classmates and faculty who are culturallydiverse to learn and evolve. Does a foreign MBA still have the same attraction as in the past decade? “A foreign MBA degree is still attractive for a large pool of people in India, though only a few globally renowned institutes are great to get in, which include Asian Institute of Management - Philippines, London Business School - United Kingdom, Kellogg School of Management - USA, Harvard Business School - USA, Wharton University of Pennsylvania - USA, etc. One of the good points of a foreign MBA degree is its admission criteria which include 3-4 years of corporate experience and case-study presentations, which are based on realtime experience for students to learn the art of management,” notes Sunil Goel, director, GlobalHunt, an executive search firm.
    Says Jayaram K Iyer, professor – marketing, Loyola Institute of Business Administration, “Many gullible students are falling prey to glitzy advertisements and fivestar-hotel fairs from foreign universities that seem to promise more and deliver a lot less; it is as usual the country of origin effect: craze for anything foreign. Most of these foreign universities are here because they can’t find students in their own countries; it is business for them and no education can swerve from altruistic goals. Good foreign MBA degrees are restricted to a few top 30-40 B-schools in the world. However, one good aspect of all these foreign MBA schools is that students get a culturally-diverse exposure that moulds them to be more global in perspective. Of course, they also become more patriotic realising the worth of India.”
    Does a foreign MBA give a better pay, position, etc? “A foreign MBA degree from a renowned institute certainly gives better pay and position as it provides exposure, builds up strategic thinking, leadership ability and foremost, it teaches ways to be a cultural fit in an organisation. Holding a foreign MBA degree from a renowned institute develops high aspirations in a candidate as far as compensation is concerned; this might not be feasible in today’s economic scenario,” adds Goel. So the question is - is a foreign MBA essential to fetch a good job? “Finally, one needs to decide what he/she plans to do after an MBA. This is probably the most defining factor to take a decision. If one is planning to take up a job abroad, one can opt for a foreign MBA. If one plans to return to India on completion, one should think through. Compared to foreign B-schools, Indian institutions offer cost advantage, making them more attractive if one is planning to build one’s career in India,” feels Ajay Oberoi, director general & trustee, AICAR Business School.

Source: Ascent