Acquiring an MBA helps you boost your marketability as a professional and get offered better opportunities both in terms of quality and quantity at a higher earning potential. It provides you with a strong foundation knowledge of business, leadership, and other functional areas, which is vital for every key position in an organization.
The entire world, along with all the business houses, came to a standstill due to the pandemic during 2020. However, recovery is slowly gaining pace now. While the pandemic is still not over, the offices and the organizations are operational as before, and everyone is adjusting to new ways of working.
This temporary dip in the work pace had also affected the job market for MBAs, which is also getting back on track slowly. So let’s understand what MBA grads can expect in 2022 in terms of opportunities:
Why MBA is the Right Choice During 2022?
As per the latest Corporate Recruiter’s Survey, the recruiters have projected a robust demand for business school graduates during 2021 and beyond. Also, nine out of ten recruiters expect it to increase or remain stable for the next 5 years. The salaries are also expected to rebound to the pre-pandemic levels as per the survey highlights. Hence if you are planning for an MBA, you can expect ample opportunities and a good ROI in the current scenario and times ahead.
Big technology and consulting firms, including Microsoft, Amazon, McKinsey, and BCG(Boston Consulting Group), will continue to be the major recruiters for MBA grads.
One of the dilemmas faced by the Indian candidates before joining an MBA course is whether to opt for an Indian B-school or pursue it from abroad. Let’s deep dive into each of these options to assess its feasibility for you.
MBA From Indian B-Schools
By providing quality management education and creating global leaders, the reputation of Indian B-Schools is constantly rising in the world. As per the latest Global MBA rankings released by the Financial Times, 4 business schools from India have grabbed places in the top 50, including ISB Hyderabad, IIM-Bangalore, IIM-Calcutta, and IIM-Ahmedabad. Most of the B-Schools in India offers full-time MBA, Executive MBA, and part-time MBA programs.
Now, if we talk about eligibility for seeking admission in an Indian B-School, you must fulfil the below requirements:
- Must have completed at least a 3-year graduate program or equivalent course from a UGC-recognized university with a minimum of 50% marks (or CGPA). A relaxation of 5% is given to the reserved category candidates.
As per the rankings (2021) released by the National Institutional Ranking Framework (NIRF), Govt. of India, the top 5 management institutes in India are as follows:
|Placements/Average Salary Details
MBA From International B-Schools
It is a fact that many international B-Schools, especially those based in the US, UK, and Singapore, are ranked higher than Indian B-Schools. The reason behind this is the exposure to diverse cultures, innovations, and technologies used in businesses in the global economies. Also, you can expect better and bigger opportunities with an MBA from top international institutes.
Most international institutes also offer 2-year Full-time MBA, part-time MBA, executive, and online MBA programs. Some institutes, such as those in Germany, also offer full-time MBA programs completed in 12 or 15 months.
As for the eligibility, it may vary from school to school, but the general criteria are as follows:
- The candidate must have a bachelor’s degree from a recognized university which is equivalent to a bachelor’s from that country.
- Work experience of 2-3 years(depending on the college you are applying to).
You need to submit a valid GMAT or GRE score, GPA score, TOEFL score (proof of English proficiency), letter of recommendations (generally 2), and personal statement along with other application documents.
[READ: GRE VS GMAT]
As per the QS World University Rankings for 2022, the top 5 international business schools are as below:
MBA From India Vs MBA From Abroad
An MBA degree is looked upon as an investment wherein you expect to get placed in reputed companies offering good profiles and a higher salary package upon completion of the course. Since every investment must be profitable, candidates look upon various factors before shortlisting the colleges to apply. One such important factor is whether they must pursue MBA from India or abroad.
Let’s look at some key parameters that can help you in this decision.
- Study Cost: Study cost for the MBA program in India depends on the institute you choose. The top-ranked IIMs and other institutes offer their MBA program at a course fee ranging from 20- 29 lakhs for 2 years, whereas it is nearly 67 lakhs to up to 2.9 crores for international B-schools.
- Work Experience: Work experience is not a mandatory requirement in Indian B-schools, but candidates with experience may get preference, especially in colleges like ISB Hyderabad, IIM Bangalore, XLRI Jamshedpur, etc. International B-schools generally favour or even list it as a mandatory requirement that the candidate must have work experience of at least 2-4 years.
- Placement and Salary: The placements in Indian schools are generally done through campus interviews, and the top-ranked institutes mostly witness 100% placements. Job hunting in international institutes is done by the candidates with assistance from their college. The college doesn’t arrange any campus interviews but guides their students in getting placed. Moreover, the alumni network plays a big role in placements in most top b-schools globally. When placed, the salary package for candidates from premium universities abroad is much more than Indian B-schools.
[READ: MBA In India Vs MBA Abroad]
The Sky is the Limit For Competent Candidates
If you have financial or other limitations for going abroad, Indian B-Schools are also a great choice. They offer a good ROI for competent and deserving candidates. Also, you can always switch companies to move abroad, change profiles and get a significant hike in salary after finishing MBA from an Indian B-School also.