Why Do US Students Go Abroad For MBA?

Why do students from the United States of America (USA), home to a huge number of top ranked business schools increasingly consider going away to other countries for an MBA?

Quality of B-Schools

The quality and reputation of business schools in Europe and elsewhere often match the top ranked ones in the US. In the FT Global MBA Rankings 2016, INSEAD with campuses in France and Singapore has relegated Harvard Business School (HBS) to the second spot with London Business School, UK coming third.

At the tenth spot is University of Cambridge Judge Business School, UK, IE Business School, Spain at 12^th rank, IMD, Switzerland 13^th , HKUST Business School 14^th,  HEC, Paris 15^th , IESE, Spain 16^th and CEIBS, China 17^th.

International Exposure

In a globalised world, international exposure is a much valued qualification. Those prepared to step out of the familiar environs and comforts of the home country reap rich rewards in the form of interacting and working with diverse groups, gaining a deeper understanding of the culture and values of the host country and developing valuable contacts. Your value as an employee goes up for these reasons and makes you stand out from the rest of the competition.

Career Opportunities

It is not necessary that you need to return home after completing MBA. With several of the economies in Asia and other regions opening up, the job market offers unique challenges and opportunities to prove your professional worth and help speed you along the growth path.

Lower Tuition Fees and Expenses

Tuition fees and other expenses could be significantly lower outside the US. An added advantage in applying to schools in Europe is that the program duration is mostly one year.

Effectively, it translates to less time spent out of the workforce unlike the 18-month full time MBA programs in the US.

Student’s Perspective

It could be easier for US applicants to get admission because most of the business schools value US students’ perspectives in global markets.

However, whether you are a US citizen or any other country planning to study abroad should consider a few of the issues carefully before taking a final decision.

There is the question of finances. Studying abroad means you have to search for accommodation and related expenses. Scholarships and other financial assistance avenues should be explored and tied up early. You should also be able to adjust to the variables in terms of culture, climate and political conditions in the country of your choice. (Image Courtesy: Flickr)