Deciding whether to do an MBA from India or an MBA from abroad can be a massive dilemma for many aspirants. While both routes offer perks of their own, insights by Financial Times (FT) rankings can help demystify which route suits you best.
Since 1999, the FT Global MBA Rankings have ranked various MBA programs across the globe. The rankings are created with great detail and consider criteria like alumni career progress, international exposure, faculty research strength, and gender diversity to create a holistic view of various management programs. The rankings aim to help students understand the institution’s reputation, and the ROI (return on investment) of different MBA programs, and make informed decisions.
In this blog, we’ll provide a comparison of FT-Ranked Indian B-Schools and International B-Schools and aspects that you must consider when making a choice.
The Indian B-School Landscape
In India, B-schools like IIMs (Indian Institute of Management) and ISB (Indian School of Business) Hyderabad are highly popular amongst management aspirants. They offer region-specific curriculum aimed at the fast-growing local market and excellent ROI with lower costs. Their academics are in line with leading global standards, backed by strong alumni networks.
In 2024, the Indian School of Business (ISB), stood as the best-ranked Indian B-school globally in The Financial Times Business School Rankings 2024 at 31st position. ISB Hyderabad is popular for its research-oriented curriculum that complements international standards and a multicultural student body. In terms of salary increases, it commands the top spot in India, where the average salary after an MBA increases by a jaw-dropping 229%.
Other than the ISB, the list boasted the popular business schools in India, the IIMs, which are pioneers in management education in India. Here is a snapshot of all the top Indian B-schools according to the FT rankings in 2024 and why they deserved the position.
| FT Rank | B-School | Notable Strengths |
|---|---|---|
| 31st | Indian School of Business (ISB) | Top-ranked in the world, high salary bump; known for consulting, product management, marketing; alumni network and career services. |
| 41st | Indian Institute of Management (IIM) Ahmedabad | Well known for strategy, finance / alumni in leadership roles. |
| 47th | Indian Institute of Management (IIM) Bangalore | Entrepreneurial spirit, innovation and good placements in top companies. |
| 67th | Indian Institute of Management (IIM) Calcutta | Focus on economics, management science, diverse faculty, and active alumni network. |
| 85th | Indian Institute of Management (IIM) Lucknow | Focus on emerging markets, public policy and a strong connection with the industry in North India. |
| 99th | Xavier School of Management (XLRI) | Known for HR management, business analytics, ethics, and social responsibility in business. |
| Over 100 | Indian Institute of Management (IIM) Indore | Ranks in the Top-100 regularly. Focus on alumni career progress, strong track record of high-paying jobs placement,diversity and international experience. |
Advantages of Indian B-Schools
Indian B-schools offer significant advantages:
- Cost-Effectiveness: With tuition fees averaging around INR 17-25 lakhs/year for top programs like IIMs or around INR 35-45 lakhs for ISB, Indian B-schools provide a faster ROI compared to their international counterparts, where annual costs can exceed USD 200,000 (INR 1,65,84,000).
- Focus on Emerging Markets: The curriculum of Indian B-schools is primarily designed according to Indian economics. It focuses on local business practices and emerging markets, and therefore preferred by those who are looking forward to making their presence felt in the flourishing economy of India.
- Strong Industry Connections: The Indian B-schools provide ample networking opportunities with the top companies in India, offering great potential for job placements, owing to robust alumni networks and industry connect.
The International B-School Advantage
According to the Ministry of Education, the number of students abroad increased by a shocking 68% between 2022 and the year before. This trend underscores the increasing desire of Indian students to have an international experience.
Harvard, Stanford, Wharton, INSEAD, and London Business School; the names just scream prestige from a traditional global B-School standpoint. A degree from these colleges is like a passport for global recognition and the gateway to your dream career opportunities globally.
Here is a list of top international B-schools (according to FT 2024 rankings) with the reasons for their desirability:
| FT Rank | Business School | Notable Strengths |
|---|---|---|
| 1st | Wharton School of the University of Pennsylvania (USA) | Known for its Technology and Entrepreneurship Program |
| 2nd | INSEAD (France) | One of the first international MBA programs, provides campuses in Europe, Asia and the Middle East. |
| 3rd | Columbia Business School (USA) | School known for financial education and connection to Wall Street |
| 8th | London Business School (UK) | Specializes in leadership development and has a very vibrant entrepreneurial ecosystem. |
| 11th | Harvard Business School(HBS) | Elite global program, strong alumni network, career progression, faculty’s research productivity and impact. |
Advantages of International B-Schools
The top international B-schools offer distinct benefits, which are:
- Global Exposure: In today’s integrated business world, learning how to communicate and collaborate with a large group of people from different backgrounds will help you not only study abroad but in your professional studies. International B-schools offer many programs with international trips or exchange semesters to help students dive deeper into the local culture.
- Brand Recognition: Graduating from prestigious institutions such as Harvard or INSEAD presents a golden opportunity for better job opportunities.
- Industry Connections: Leading global corporations with strict connections with diverse industry alumni ensure international internships and job placements.
- Better Job Opportunities: An MBA from a top international B-School can better your job opportunities, more so if you wish to work with multinational corporations that need employees with an understanding of the global market.
- Higher salaries and long-term career growth: International B-schools often provide access to high-paying job opportunities, especially with multinational corporations. While the initial investment is higher, the potential for substantial long-term returns on your investment is notable, especially if your career goals align with global markets and roles.
- Specialized Programs: A variety of international universities have unique programs or fields that you might not find elsewhere in your home country. This can be particularly appealing to students who have well-defined career goals in sectors or fields that are new to the marketplace.
- Soft Skills Training: A study abroad program often involves a high amount of adaptability and intercultural skills. You will also gain important soft skills such as communication, critical thinking, problem-solving abilities, and leadership, which are highly valuable to employers.
What to Think About in Your Decision
Here are a few factors to consider when choosing between an Indian B-school and an international B-school:
- Career Goals: Try to decide whether your aspirations point you towards a global career or if you want to stay in the Indian market only. Global B-schools have more prominence worldwide and Indian B-schools have an unbelievable vicinity in the Indian market.
- Financial Considerations: Weigh the increased expenses of going overseas – both tuition fees for international MBA programs versus typically lower costs at home and living expenses outside your country.
- Risk Tolerance: You need to determine how willing you are to move away, adapt to new cultures, and develop possible language barriers.
- Work Experience: International B-schools generally prefer candidates with 3-5 years of work experience while Indian B-schools might admit students who are earlier in their career stage.
Conclusion
The final decision to go for an Indian B-School or an international B-school will depend on what you want in your career, how far you are willing to go financially, and your long term professional goals.
Begin with the FT ranks of the business schools and then use that data as a jumping-off point to explore program strengths in greater detail, as well as how these factors align with what you personally want & need. For more assistance, check out ApplyBuds, a data-driven intelligent platform that empowers you to find the perfect program tailored to your academic background and career ambitions, and guides you seamlessly through the application process. Our goal is to make sure that you are confident enough and take the steps towards a career that not only benefits you but will make your success fulfilling.
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