If you’re serious about getting an MBA, you may want to seriously consider pursuing MBA programs abroad. Here’s what you need to know.
Why Should You Earn an MBA?
Before exploring the many options, it may be beneficial to understand the benefits of earning an MBA in the first place.
An MBA, or Master of Business Administration, is a graduate degree which is focused on business administration and management.
Subjects in this program typically include:
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Accounting
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Economic policy
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Finance
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Business ethics
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Marketing
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Corporate governance
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Human resources
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Operations
But why should you take the time out and invest your resources to earn an MBA in the first place? For starters, getting an advanced qualification in your field is an excellent way to expand your career opportunities. There are a plethora of career paths you can follow after earning an MBA. It’ll also allow you to become well versed in complex business strategies.
Here are a few other reasons why earning an MBA is a very good idea:
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It’ll prepare and groom you to take on leadership roles
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It’ll enable you to make a career change or shift
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You’ll likely benefit from better job security
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You’ll be in a position to earn more money
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It’ll make you more marketable in the job market
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You’ll have specialized and advanced business knowledge
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You’ll gain a more global perspective of the business world
Why Pursue an MBA Program Abroad?
Now that the many benefits of pursuing an MBA program are established, let’s discuss why you should consider pursing an MBA abroad.
As already mentioned, due to increasing globalization, the business world has become more international. This means that the global economy and business operations are influenced by different factors from across the world. Stepping out of the comfort zone of the country you’re living and working in and pursuing a degree in another country will increase your global perspective. It’ll give you the chance to contextualize and appreciate the many global influences on business world.
In addition, going to another country for your MBA is both an exciting and rewarding experience. It’ll allow you to live and study in a country which may be very different from anything you’ve ever known.
This experience will:
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Broaden your horizons
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Allow you to pick up a new language
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Expose you to new challenges and situations
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Allow you to build a network of multicultural friends and acquaintances
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Give you a global perspective
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Allow you to explore a new country
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Push your limits
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Expand your cultural perspectives
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Expose you to new job markets and expand your career prospects
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Strengthen your networking skills
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Expose you to foreign business customs
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Allow you to understand the world economy
Today, there are over 200 highly ranked business schools across the world. Out of those 200 schools, only 75 exist within the United States. That means that there are numerous prestigious institutions located in foreign countries where you can earn world class qualifications in your chosen field. Furthermore, the Financial Times ranks MBA programs globally and more often than not, numerous international schools rank very highly on the list.
What’s more, many MBA programs abroad often have lower tuition costs and are of a shorter duration. This means that you’ll not only save money on your studies; you’ll also be able to enter the job market sooner and start earning.
Popular Places to Earn an MBA Abroad
Aside from the United States, there are a number of places across the globe which offer excellent MBA programs. Some of the top locations to pursue an MBA abroad include:
Singapore
Singapore is not only a diverse multicultural city and one of the strongest economies in Southeast Asia, it also boasts high quality MBA courses. According to the Financial Times Global Rankings of 2016, two of its schools, Nanyang Business School and the National University of Singapore Business School rank 29th and 32nd in the world, respectively.
China
China has one of the strongest economies in the world and is a central player in the global economy. Pursing your MBA here will give you a chance to live in a culturally and historically rich location, with its own unique approach to business. You can also use this opportunity to brush up on your Mandarin, one of the most widely spoken languages in the world.
To illustrate its prestige when it comes to high quality MBA programs, China has seven business schools which rank on the Financial Times world rankings. For instance, the HKUST Business School in Hong Kong comes in at number 14 on the list. Other schools such as the China Europe International Business School (CEIBS), CUHK Business School, and Shanghai Jiao Tong University's Antai College of Economics and Management all rank within the global top 40 on the Financial Times’ list.
Australia
Australia is another one of the most popular destinations for international students when it comes to MBA programs. Not only is the laid back atmosphere and beautiful scenery that the country has to offer incredibly appealing, Australia also has numerous schools which rank very highly. It’s also one of the most powerful and dynamic economies in Southeast Asia and the wider Asia-Pacific region.
The Macquarie Graduate School of Management (MGSM), UNSW Business School and Melbourne Business School all appear on the Financial Times’ MBA world rankings list.
France
France is home to one of the best MBA programs in the world. That’s right, it even beats Harvard. According to the 2016 Financial Times global rankings for MBA programs, the INSEAD Business School in France comes in at the number one spot globally. It offers unparalleled academics and draws in huge numbers of students from all over the world.
There are also other, very highly ranked schools, including HEC Paris, EDHEC Business School and Grenoble Ecole de Management.
United Kingdom
Most of the UK’s top business schools are located in the capital, London, and it’s no surprise why. London is the second most economically powerful city in the entire world. UK by and large also became the fastest growing G7 economy last year in 2015.
For students interested in pursuing an MBA, this is one of the best places to do so. In cities like London, learning opportunities and career prospects abound. Some of the schools in the UK include London Business School, Saïd Business School, Nottingham University Business School and the Cranfield School of Management.
Pursuing an MBA is an excellent way to strengthen your position in the job market; doing so while studying abroad offers even more benefits, such as imparting a global perspective and increased networking opportunities. For all of the reasons touched on above, pursuing an MBA abroad may be just what you need to give your career the right boost.