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'What is the cost of pursuing an MBA abroad?'

Last updated on: December 28, 2012 10:31 IST

'What is the cost of pursuing an MBA abroad?'

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In an online chat with readers on December 27, Naveenan Ramachandran and Abhishek Bhide, experts, 4GMAT addressed queries related to GMAT preparation and offered advice on how to pursue an MBA abroad.

For those who missed the live chat, here's the unedited transcript:


abroad asked, MBA in the US or the UK: which is better and why?

Abhishek Bhide answers, at 2012-12-27 15:51:22
The factors to be considered are background, specialization and aspirations post MBA however in the current scenario US would probably be a better bet.
negi asked, Will I get admission in LSE(UK) by getting 720 in GMAT

Abhishek Bhide answers,
Hi Negi, The application that is looked at by the school will look at multiple points such as background, essays, interview etc. Just a score is not a decider.
TAHA asked, Does Correspondence MBA holds the same value as a regular MBA? Also plz throw more light on Online MBA. What do u suggest.

Naveenan answers,
Hi Taha ... In general, Regular MBAs are more valued than Correspondence MBAs. A correspondence MBA cannot fetch you a shift in sector (like IT to finance). Online MBAs offered by the likes of IIMs are now getting popular. It is still not proven whether they can enable you to crack into the glass ceiling of your organization. To answer your question - a regular MBA is any day better.
sandyg asked, What are the important points we should keep in mind before taking admission in a MBA Program at BSchool abroad

Abhishek Bhide answers,
The points to be considered are the faculty, majors offered, class diversity, location, exposure to industry- to name a few.
Achu asked, Hello Naveenan, In case one has to get an MBA from a European country...say Germany...would one need a GMAT score or is thr anothr test?

Naveenan answers,
Hi ... It would still be GMAT. A very small minority of the colleges take GRE. Especially the ones which are engineering focussed. Otherwise, GMAT is the golden standard for most international MBA programmes. Thank you.
mba asked, which is the best college for international business mba?

Abhishek Bhide answers,
What exactly do you mean by this term 'international mba'?
sandyg asked, Could you please suggest if MBA from French or German universities/colleges would be a good choice .? Any best colleges for MBA Program in France/Germany..?

Naveenan answers,
Good choice ... vis-a-vis which other country? depends on the area that you want to work in. In general, French / German MBAs / profession in the country post MBA require very good level of expertise in the corresponding local languages.
g asked, i try very hard but everytime i give gMAT i end up with 570-590 only.Though professionaly i am very gud bt when it comes to gmat,i always fail.How to get an MBA admission without gmat...

Naveenan answers,
Hi G ... Whether we like it or not, GMAT is the tool that you have to indicate your readiness for the academic rigor ... Either colleges which do not take GMAT are not highly ranked and not too many people apply; Or such programmes are for people with lots of experience (like PGPMAX at ISB for 10+ yrs of exp.). Considering that your professional CV looks good - it just makes a lot of sense to bolster your case with a good GMAT.
g asked, i try very hard but everytime i give gMAT i end up with 570-590 only.Though professionaly i am very gud bt when it comes to gmat,i always fail.How to get an MBA admission without gmat...

Naveenan answers,
Hi G ... Whether we like it or not, GMAT is the tool that you have to indicate your readiness for the academic rigor ... Either colleges which do not take GMAT are not highly ranked and not too many people apply; Or such programmes are for people with lots of experience (like PGPMAX at ISB for 10+ yrs of exp.). Considering that your professional CV looks good - it just makes a lot of sense to bolster your case with a good GMAT.
Abhishek Bhide says, Welcome to the MBA applications chat. We will try to resolve your queries regarding applications to B-schools. Our contact details: Abhishek- abhishek264@gmail.com; 98704 33888. Naveenan- naveenan@4gmat.com; 80970 48484
sandyg asked, How do your rate UCD MBA with respect to other European BSchools ?Would you be able to throw some light on its placements/Job potential POST MBA ?

Abhishek Bhide answers,
No sorry, I am not very familiar with this school. In general placements in Europe are extremely bad due to the economic situation.
ak asked, Hi Abhishek, I'm just wondering if you should keep giving your GMAt even after you havent done well in the first few attempts. Does that hold you in bad light?

Abhishek Bhide answers,
Yes Ak, The 4th GMAT would probably be 1 too many. In general 2 attempts are absolutely fine & the higher score is considered.
Ravi asked, Hello, what would be an approximate cost of pursuing an MBA degree abroad.

Naveenan answers,
Hi Ravi ... Depends on the country ... If you are looking at Singapore / HK, then it would cost upwards of Rs30L. US colleges - upwards of Rs50L. UK - there is a lot of variance in terms of the cost - but, you should be looking at Rs50L to be on the safer side. Let us also keep in mind that the regular course at IIMs nowadays cost around Rs11L and executive programs like PGPX, ISB's PGP also cost upwards of Rs20L. SP Jain's Dubai-Singapore-Sydney-Mumbai programme also costs around Rs25L. Thanks.
satz asked, I plan to apply to toponesin US andEurope.Do you have any idea of programs that are more generous in scholarships/assitantships than others? i am dependent on atleast a 50% assistanship.

Abhishek Bhide answers,
This is very tricky satz because it changes very year and no school will declare this. Also nowadays a number of colleges announce aid only after course starts -hence you can't take a call based on this.
nirnay asked, Can u suggest me which are the good colleges for pursuing MBA and also not much expensive.

Naveenan answers,
Hi Nirnay ... Could you please provide some benchmarks - like country, expense range etc. Also keep in mind that you have very little experience and are a fresher (for all practical purposes). Thanks.

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Image: All images for representational purposes only
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raj asked,
hi which country is best in asia to go for a full time general MBA and is equally recognised by Indian companies and gov
Abhishek Bhide answers, Raj, there is no single answer however Singapore has some pretty good schools which are recognized by corporates. Gov recognition is not really important.
sandyg asked, Sorry...I elaborate my query...With UCD I meant...University Colege of Dublin...Any afterthoughts about the Quality of MBA at its BSccool..especially Michael Smurfit
Abhishek Bhide answers, Apologies Sandyg, I know this school but haven't really got any feedback on this. We can talk about this later if you are keen on pursuing an MBA there and need help with applications.
Gogo asked, Is it worth going for higher Education at abroad in today's scenario?? People who going to US/UK are not getting any jobs there and have to come back to India
Naveenan answers, HI Gogo - Good question. That is the reason why it is important to get into a program where you have a bright chance of getting an assistantship. The point about UK is very valid too and it is something the politicians will have to deal with very soon. Not so much for US, the economy hopefully will pick up by the time you graduate.
atishay asked, how much time does it take on an average to prepare for the GMAT ?

Abhishek Bhide answers,
Atishay, we have courses which allow you to complete the studies between 5 weeks to 3 months depending on your schedule. Post this you will probably take a month to two for mock tests etc.
4GMAT asked, I want to do apply for an MBA in some of the top MBA colleges in USA. My profile is good. I can score above 700 in GMAT. The only thing pulling me back is that I do not have enough experience (5 months now). How strict are these colleges about the minimum work experience one needs to have?

Naveenan answers,
Hi ... If you have an EXCELLENT profile and post a correspondingly superb GMAT score then the colleges are flexible to an extent. For example, one of our students who was an IIT topper; two digit IIT JEE rank got into Stanford as a fresher. So, it is imperative that you post a super duper GMAT and write good essays.
nirnay asked, Country is not an issue, and expense to the limit which i can arrange a loan from bank say around 7-10 lacs per annum. and as far as experince is concerned i am right now working In BPCL frm last 3 months...and mechanical engineer from nit trichy with 8.4 cgpa

Naveenan answers,
An international MBA at this price point is very tough. If you have a good GMAT score and you can convince a US state school to provide a full tuition waiver, then it might just be possible.
raj asked, thx for the revert , can you tell which are the best schools in singapore for the same

Abhishek Bhide answers,
Possibly either NUS or INSEAD would be at the top however there are other schools such as NTU and SMU which are also extremely good.
4GMAT asked, I want to do apply for an MBA in some of the top MBA colleges in USA. My profile is good. I can score above 700 in GMAT. The only thing pulling me back is that I do not have enough experience (5 months now). How strict are these colleges about the minimum work experience one needs to have? For how many years should I ideally work before applying for an MBA?

Naveenan answers,
Hi ... If you have an EXCELLENT profile and post a correspondingly superb GMAT score then the colleges are flexible to an extent. For example, one of our students who was an IIT topper; two digit IIT JEE rank got into Stanford as a fresher. So, it is imperative that you post a super duper GMAT and write good essays. In general, schools outside India look for 3 to 4 years of work experience (2+ at the very least). The belief is that it takes that many years to develop a perspective about businesses.
nirnay asked, how much u generally need to pay. i heard mba in singapore is affordable something around 10 lpa

Naveenan answers,
Not really ... NUS and NTU will set you back by around Rs 25 Lakhs.
andy asked, Please give your advice on good Corporate MBA course in foreign university. I have 8 years of Technical experience after studying M.Tech from IIT Madras -- yes Executive MBA course guidance

Abhishek Bhide answers,
A number of schools -almost all offer executive MBAs. INSEAD, Kellogg, Wharton and almost all the top B-schools offer exec MBA which essentially have the same faculty.
4GMAT asked, in continuation to my previous question What are the various things colleges generally look for in your profile? I did my engineering from BITS-Pilani. Passed out in First Division. I am working as a Business Analyst, leading a team of people. I am Green Belt in Six-Sigma. What are some of the various ways I can improve my profile?

Naveenan answers,
Hi ... Good profile. Most schools look for leadership qualities. Not in the sense of managing a team. Anything that you did well beyond your call of duty. Anything that you foresaw and acted upon that the guy in the next booth at work had not anticipated. Anything that you did which had a sound impact on the revenues or profits of your firm. Anything "hatke" about your profile and helps you stand out.
atishay asked, what is the ideal amount of work experience that you should hold for applying to the US? also, do they consider the amount of work experience at the time of applying or at the time of entry ? also, what exactly do they look at in the work experience that an applicant has -- company..promotions..responsibilities... As you know graduates arent giving much work which entitles them to decision making etc.

Abhishek Bhide answers,
Generally the min is 2 years and avg is 5 years for most universities. They are looking for excellence, leadership and uniqueness. I think in 2+ years most ppl would have some managerial responsibilities....
rajakhan asked, my GMAT score is 720 and I have 12 years of experience which are the universities in australia i can get into?

Abhishek Bhide answers,
A number of them. Your profile looks good. You would have a good chance even in a top notch school due to your yrs of experience and GMAT score
Dinkar asked, Hi Naveena i want to know in ISBM ExMBA in finance is really good for good job ?

Naveenan answers,
Hi ... It is still a growing school and not yet had a great impact in the market.
sandyg asked, Is local language expertise required in most of the BSchools across Frannce/Germany/Italy ? Does it apply to reputed schools like SD Bocconni as well..?

Abhishek Bhide answers,
Yes, a number of them esp in Germany & Italy would require this although every school has their own rules. I don't think its mandatory in SDA Bocconi
nirnay asked, 25 lakhs for 2 years of is it for 1 year?

Naveenan answers,
Courses in Singapore are generally 1 year or 1.5 years long only.
jack asked, hello abhishek. I wanna know will it be of good help if i do an exec. mba from any iim. I have 4 years of exp. as till date. Thanks

Abhishek Bhide answers,
Jack, in fact there is a limit of min 6 years for exec MBA in a number of IIMS. In general with 4 yrs you are better off with a regular MBA
rajvatti asked, Is it possible to get into a an MBA+PHD program directly..similar to how one can do an MS+PHD in one go..what top ranked US universities have such a feature

Abhishek Bhide answers,
Yes it is. There is a seperate application process which is more detailed and offers stipend as well
Sanjeev asked, what are the job prospects after getting a MBA from a good university in Singapore like NUS or NTU?

Abhishek Bhide answers,
Sanjeev, It will depend on your prior work ex but generally Indian or other Asian countries would consider this MBA for openings. Of course it is quite well-known even in US or Europe
rajakhan asked, which are the top australian univs?

Abhishek Bhide answers,
Raja, Melbourne School, Queens etc. You can get a ranked list on our site mumbai.4gmat.com
Dinkar asked, But now i have taken admissin. is it wrong? i have pay total fee.exMBA.? I am working in co-operative organation is it help my todays job as supervisor of 1300 cror mix business credit society till date.

Naveenan answers,
Hi Dinkar ... As in any programme, it depends on how you leverage the facilities offered by the college. Try to attend all contact programs (whenever there are any); try to visit the college so that you can meet the professors and get your fundamentals cleared. Do not let go of any networking opportunities. Though colleges do not provide placement support for executive courses, try talking to the placement committee if they can put you through at least at two or three of your dream companies.
raj asked, Thx Abhishek, can you pl. tell me the way to apply for the same

Abhishek Bhide answers,
Hi Raj, this is a comprehensive process which we work with candidates on a counselling basis. Please get in touch with us on abhishek264@gmail.com or 98704 33888 so I can give you further details.
jack asked, in continuation which should i prefer. waiting for 6 years and doin exex else doin regular as on now.

Abhishek Bhide answers,
Depends my friend, what stage r u in your job, how does the MBA fit in? What are you looking to do post MBA? These are the questions to ask yourself...
Tushar asked, Hi want to know about executive MBA's which are the best institutest for the same? My preference is exec MBA in Internation Business

Naveenan answers,
ISB's 1 year program, PGPMAX program, IIM's PGPX / EPGP programmes, INSEAD's program, Kellogg's program - all of them provide this course. They may not call it "international business" - but, provide exposure through electives and specializations. Check out their rankings to know their highlights.
priyesh asked, hello navneen sir!I am not so good in english.I am also not so fond of reading books(novels sort of).What should i do to improve english for my GMAT test?

Naveenan answers,
Hi Priyesh ... Divide it into parts - SC, CR and RC. The good part is that CR does not rely on your reading habits. Work on the basics of argumentation. SC - grammar based - you will have to get your basics right. RC - ability to organize information - know the fundamentals and practice a lot. We, at 4GMAT, provide exclusive Verbal training for candidates who need help in that area. Check out mumbai.4gmat.com for further details. Thanks.
as asked, i have completed mba in hyderabad but i have passed with 52% i want to go 2 australia on studies or again i should pursue mba in australia.what should i do.plz suggest me

Abhishek Bhide answers,
It will be difficult to get into a MBA school immediately after completing an MBA. Don't you first need to decide what you want to do and then look at the countries where you can do so?
srik46 asked, Hi Naveenan, I am Srik , aged 29 , working in the IT since 7 years. I want to shift to Consulting would it be possible at this age. If yes, please suggest some good schools in India. Thanks in advance

Naveenan answers,
Hi Srik ... Interesting profile - Yes, it is possible if you go to the really good programmes like the ones offered by IIMs (executive education; full time) and ISB. In general, only a full time program can help you make this move. Sooner you shift, the better it will be! And, you should be flexible to report to a person 5 years your junior!
Agney asked, I am PMP+PGDACM+BE+5yrs of experience (3yrs international), do I need to attaned other masters program to go ahead for Phd and if yes, Could you please mention best schools for MS+Phd/MBA+Phd in Project or Construction management.

Abhishek Bhide answers,
Agney, the PhD pre-requisites are different for every B-school but my sense is that you will need to do some courses if not the entire MBA. You will need to get in touch with the school
Sanjeev asked, In continuation to my question about Singapore B-schools, what would my chances be of getting admission with possible financial aid at the top schools like NUS and NTU? I have an experience of more than 5 years and a GMAT score of 680. I am taking the GMAT again and expect to score atleast 700. Thanks.

Abhishek Bhide answers,
Sanjeev, your work ex & GMAT are both close to the average at these schools. So you might end up with some aid though with these schools esp. NUS the applicant pool is extremely good!
Praveen asked, I have done BCA in correspondance with 8 years of experience in IT and would like to fetch a job in abroad. Is MBA Abroad, the solution?

Naveenan answers,
Hi Praveen - An MBA is a 1 year to 2 year process which takes a lot of determination (even to get into) and more determination to come out successfully. Just a job abroad is not a great reason enough to motivate yourself to go through all that trouble. You would either lose steam half way through or you may not even get into a program of your choice after writing the exams - because the application essays and the interview do a fair job of looking through you for the core reason. I hope this helps. Short answer - "no".
as asked, contd - i have done mba finace with 52 % what are the other courses that i can do in australia n getting in a good university is possible or not.plz suggest me

Abhishek Bhide answers,
Most good univs will ask you why you want to do another management course after your MBA. Also you will need to crack the GMAT to apply to these schools. Its not a yes/ no answer.
atishay asked, how many b schools can you apply (India & abroad) to at one time after giving the GMAT ?

Abhishek Bhide answers,
Usually given the time & effort 6 is a good number. Max being 8 schools in 1 admission cycle.
priyesh asked, Sir,Currently I am doing my Btech in Information Tech. So,should I opt for GMAT or GRE?I know that GMAT is for MBA and GRE for MS.My doubt is are there any difference in there preparation and paper?

Naveenan answers,
GMAT math is lot tougher than GRE math. GMAT and GRE verbal sections are equally difficult. Not much overlap either. GRE requires word lists. GMAT does not. GMAT has an Integrated Reasoning section and GRE does not.
vishal asked, Foreign Universities are heading towards India. Shall they bring any change?

Abhishek Bhide answers,
Yes, already these univs are tying up with different Indian educational institutions to use their infrastructure so a lot of changes can be expected.
Sanjeev asked, Thanks Abhishek. So can I take it to mean that my chances of getting admission are pretty good?

Abhishek Bhide answers,
Sanjeev, For NTU probably. For a school of NUS's caliber no one can be sure! Essays and achievements in career would be the differentiator
Vinayak asked, I am 33 yrs old. I want to pursue MBA abroad so that i can shift from IT to finance. I want to be a bond salesman on Wall Street. I have over 7yrs experience in IT and i want to give GATE exam. Will i be able to make it to any business school abroad or should i look for IIM MBA? Will i get a scholarship? My graduate marks is 59.8%.

Naveenan answers,
Hi Vinayak / MBAAspire ... Wall street firms generally look for very young people so that they are OK working 18 hours a day. The shift is very tough - considering the years which have already gone into another sector. I think you meant GMAT exam. You could either move on to fields like account management or business analyst within IT. Do not want to discourage you here - If you get into a very good school and make it to the toppers' list - then there is a little hope to achieve this shift.
as asked, contd- can i do any other masters program in finance/banking/accounting in australia taking into consideration my mba perchantage.plz suggest me

Abhishek Bhide answers,
In my opinion you need to get some more clarity on what you need to do with these courses and then decide the way ahead. Best luck!
priyesh asked, So,Sir it means that right now I can start preparing for any of them(GMAT or GRE) and can later on decide whether to do MBA or MS?

Naveenan answers,
Hi Priyesh, Yes - if you have time on your hands as a college student, you could follow this methodology. But, I would advice you to think a lot about your personality; your tastes; professions that you would like to pursue and more often than not. If you do so, there will be a clear answer as to whether you want to do an MBA or an MS. All the best!
Abhishek Bhide says, For any more queries please contact us at Abhishek- abhishek264@gmail.com; 98704 33888. Naveenan- naveenan@4gmat.com; 80970 48484

Naveenan says, Thanks to all the participants! Thanks to Rediff for provinding the platform. We shall meet again in the new year. For any more queries, please ping Naveenan@4gmat.com / Abhishek264@gmail.com Thank you.



Image: INSEAD, Singapore
Photographs: Wikimedia Commons
Tags: MBA , GMAT , Hi Naveenan , GRE , NUS

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