Tuesday, January 15, 2008
MBA in India
It’s the proverbial debate. Is an Indian MBA degree at par with global standards, or does one still have to look abroad for quality education? Here we are outlining a direct account of the advantages of pursuing an MBA at a premier institute in India.
As far as higher education is concerned, the educational scenario has changed dramatically in India in the last decade. In the debate of an MBA in India versus abroad, a student currently pursuing MBA in India believes that an Indian MBA scores over an international MBA on several counts.
The main advantage is the cost. An MBA from any good B-school in the US or UK cost anywhere between Rs 25 to 50 lakhs, whereas Indian MBA schools charge ten percent of the same amount. Secondly, when living abroad, a student has to spend far more than he would in India, and as a result need to work there for at least a few years to recover the amount. This severely hampers his prospect of returning to India after the completion of the degree.
On the other hand, a student from a reputed Indian B-School always has the option to work at either place, since all premier B-Schools have a significant amount of foreign placements taking place each year. Also, Indian is a vibrant economy today and corporate companies the world over value the pool of talent that exists here. In fact, people opt for position in India to be apart of the growing economy. Lately there has been an increase in the number of NRIs coming back to India. In this thriving scenario, it makes sense to get ones degree from an Indian B-School.
There has also been steady increase in the number of the tie-ups between Indian and foreign universities. Some of them include the SP Jain Institute of Management and Research with Virginia Tech, the Indian School of business with the Wharton School Kellogg School of Management, the management Development institute with Cambridge College, Great Lake & Yale, Wellingkar College with Temple University the institute of Management and technology with Fairleigh Dickinson University, Great Lakes and Yale University. Thus, with more and more premium international education its way to Indian shores one can experience the benefits a international education and a lesser cost.
Also, Indian MBA courses have been expanding and growing significantly in recent years. MBA graduates from Indian B-Schools have proved their mettle in the global working environment and are offered top positions in several organizations. Considering the purchasing power parity, initial expenditure (cost of the program), initial placements, and growth in salary as inputs in decision, MNCs do not have to think twice before coming to India in search of middle and senior management talent.
In every Indian B-school participants with two to five years of IT industry experience always fill a certain percentage of the batch. These students often have international exposure. Their multicultural experience adds value to the entire batch and program as a whole. And to a certain extent, it compensates for the rich diverse cultural experience that is associated with a US or UK MBA. Finally, Indian B-Schools are more open to non-experienced candidates than international B-schools, and thus prove to be an advantage to most people. Hence, keeping in mind today’s scenario we believe that an Indian MBA is the way to go.
By Pradip kakoti