Planning proper finance is very important for studying mba in abroad.
Money is the basic bottom-line for studying in abroad. The fee structure for MBA degree for study MBA abroad starts from minimum 10 lakhs and would go up to 30 lakhs for top B-schools.
1. If you have sufficient funds (Rs 10- 15 lakhs) then go ahead for higher studies.
2. If you have some amount (Rs 5-6 lakhs) even then you can go for higher studies where in once you get admissions you can complete two semesters and the remaining semesters amount can be arranged by earning the amount while working.(And most of the Indian students do this)
3. If you cannot arrange the cash then you can go for bank loan but you need to be pretty confident that you will do well in the program and will manage to get job.
4. If any of these above points are not met then one can also try for Indian MBA?
One basic important thing is to think like a business manger before studying mba as the fees for mba in abroad goes up to 15 lakhs and this amount can be earned within a year after completing the course.
What are the next alternatives?
MBA can also be done from top institutes like IIM'S. If you have cracked CAT then go for it. MBA degree from top IIM's will help you to get the best job in the market and will always be on the top of the world.
If have relatives abroad then make sure with them that you they can arrange funds for you. But you need to talk to them before applying. There is lot of scope of MBA in abroad as well as in India.
What do you plan to do after MBA?
If you manage well to get a job in abroad then go for education loan where in you can start working there and repay the loan within a year as most of the Indian students do this. This is applicable to mainly US and Canada. Getting the work permit in Australia is difficult. UK has recently allowed international MBA students to work for two years.
If you are planning to return to India immediately after completion then you should think twice before planning until and unless fund are not basic concerned for you. Else if your enough capable of your management skills then you can start your business after returning back or else can become a good business partner.
If you are planning to return to India immediately after completion then you should think twice before planning until and unless fund are not basic concerned for you. If you want to study MBA in abroad then you need to remember the following points.
1. You have to give the GMAT examination and get a score of at least 700 so that it increases the chances of getting admissions.
2. You should also have a TOEFL score if your medium of education during your graduation is not English
3. Also you should have an experience of at least two years to gate an admission.
4. You should have an excellent academic record prior in tour graduation and also have an good record in the field of extracurricular activities.
5. Your statement should be completely valid so that others can easily find out how interested you are to study MBA.Your need to impress by you'r speaking skills.