If you’re a young professional, you’ve probably thought about completing an MBA. An MBA helps you advance your career, regardless of your industry. Pursuing an MBA abroad could open more doors and help you gain immense career growth. The degree broadens your business horizons. Apart from sharpening your business acumen, the course also develops crucial business and negotiation skills. Offering a blend of book-based knowledge and soft skill development, an MBA is truly your ticket to a brighter and better future.
Benefits of Choosing to Study Abroad for MBA
Many Indians seek to complete their MBA abroad. Moving away for your post-graduation degree helps you:
Gain Exposure to Multiple Cultures
The most reputed colleges abroad welcome students from around the world. By pursuing your higher education overseas, you can meet people of different nationalities and learn more about their cultures and traditions. Additionally, you understand how various people function, which you can use to your advantage as you rise through the ranks.
Boost Your Paycheque
People value degrees from foreign universities. You can leverage your MBA from abroad for a better pay package, irrespective of whether you return to India or choose to stay overseas.
Build a Global Network
You gain access to people from almost every country and continent when you study abroad. The bonds you forge during your degree can help carry you through life. You can build a global network and grow your business through these connections.
Access Top-Ranked Universities
As per QS rankings, half of the top 100 global MBA schools are in America. Choosing to complete your post-graduation abroad means you could gain a seat at one of the best business schools in the world.
MBA Entrance Exam Requirements to Study in USA and the UK
You need a 3.4 GPA in your bachelor’s degree, two years of work experience, a statement of purpose, TOEFL or IELTS scores and a GMAT score of 600 or more to complete your MBA in America or the UK. The GMAT exam has four sections:
Analytical Writing Assessment
The 30-minute section has only one question, and you can get a score between zero and six. Here, you discuss whether you believe a given argument has been reasoned well or not.
Integrated Reasoning
The section contains 12 questions you must answer in 30 minutes. You will get a score between one and eight for each answer. The four question types here measure your ability to examine data from multiple sources, sort and analyse a spreadsheet, interpret the provided information, and solve complex problems.
Quantitative Reasoning
Here, you will have 62 minutes to answer 31 questions based on problem-solving and data sufficiency. You must know arithmetic, algebra and geometry to answer the questions that measure your analytical skills. Each answer gets you a score between six and 51.
Verbal Reasoning
With 36 questions, this is the lengthiest section of the GMAT. You have 65 minutes to complete the reading comprehension, critical reasoning and sentence correction questions. Like the quantitative reasoning section, you can score between six and 51 for each answer.
You could potentially get a total of 800 points on your GMAT. You must answer the 80 questions in a little over three hours. MBA candidates can choose the GMAT order that best works for them. You can opt to complete the analytical writing assessment first, followed by the integrated reasoning, quantitative reasoning, and verbal reasoning sections. Or, you can opt to start with verbal reasoning, followed by quantitative reasoning, integrated reasoning and the analytical writing assessment. The third option available starts with quantitative reasoning, followed by verbal reasoning, integrated reasoning and the analytical writing assessment.
GRE or GMAT?
Some business schools abroad also use a GRE score instead of a GMAT score. The Graduate Record Examinations (GRE) score is mostly accepted for students who wish to complete a Master of Science degree, although many MBA colleges also accept the score. The exam takes a little less than three hours and measures your analytical writing, quantitative reasoning and verbal reasoning skills. You can score a maximum of 346 on your GRE.
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Language Test Requirements for an MBA Abroad
If you’re going to America or the UK for your MBA, you must complete an English test. Most overseas colleges accept TOEFL iBT and IELTS exam scores. For America, most colleges prefer TOEFL iBT scores. You need to score 100 or more and get a minimum of 20 points in each section. UK colleges prefer the IELTS. You must score at least 7.5 to gain admission to a reputed college. Although these countries have preferences, almost all post-graduate institutions around the world accept the TOEFL iBT or the IELTS.
Financing Your MBA Abroad
Completing an MBA overseas requires a high financial investment. Your course could cost upwards of INR 50 lakhs at a reputed college, especially considering the cost of living away from home. You can continue to pursue your dreams with loans for students. Education loans provide the required funds for your tuition fee and living costs overseas. They provide student-friendly interest rates and assistance with paperwork, giving you the best shot of securing admission at the university of your preference.
An MBA could change your career and enhance your life in numerous ways. Education loans enable you to complete the degree on your own steam and earn yourself a self-made badge.