I am glad you asked. I did this a long time ago.
Schools in India are not cheap as compared with the top Global Schools.
Comparison between the Top Indian school and a US Top 10-business school. I have also inserted appropriate URL’s and loan EMI Calculators for both the countries(India and ABROAD).
Many applicants turn down top US Schools when they compare the costs. However, they do not understand the following scenario: They will have savings every month if they go to a School abroad. In India, they will be under a lot of debt considering the salaries and the loan repayment terms. See the calculations( With Fact statistics from the schools’ websites. This is factual data and not speculation.
MBA ABROAD: They will have savings and an amazing life style.
MBA INDIA: Majority of them will have Loan Burden and average life style.
See the table below and decide where do you want to be
TOP GLOBAL MBA
TOP INDIAN MBA
Total Cost of Education
20 to 30 Lacs
Loan Repayment Terms
Max up to 20 years @ 8.25%
International Student Loan
10-15 Years – 11.5%
Average Annual Salary
$ 112167 ( Joining bonus is separate: $ 28000)
INR 69,54,354 + INR 17.36 Lacs Joining Bonus
Page on duke.edu
INR 17,41, 081 (No information on joining bonus was available. Not sure if the joining bonus/relocation is a part of this figure).
Page on isb.edu
Average Monthly Salary
Average Monthly Salary after Taxes
Average Monthly expenses
$ 2,000 -$3,500
INR 1,24,000-INR 2,10,000
INR 60,000-INR 70,000
10 Years- $1913 ( INR 118606)
20 Years-$ 1,329(INR 84,568)
Loan Payment Calculator
INR 37,193( 10 Year Repayment)
INR 30,688 ( 15 Year Repayment-Max Term)
Education Loan EMI Calculator
INR 80,000 to INR 2,00,000
Surplus Available for Car Loans/Homeloans
(Considering the max and min range of loan repayment terms and your monthly expenses)
– INR 4,000( Negative) to INR 10,000
Not sufficient for Car Loans
Tags: top business school, top b schools