India’s entrepreneurial culture and booming tech sector make it an attractive destination for management education, but it has traditionally failed to attract international MBA students in large numbers.
According to the Graduate Management Admission Council (GMAC), which administers the GMAT exam, Indian business schools received 18,647 GMAT score reports in 2018. A GMAT score report is a sign of a candidate’s interest in a school—but just 1% of scores sent to Indian programs were from non-Indian citizens.
These reports came mostly from Nepal (0.63%), the US (0.13%), Canada (0.10%), and South Korea (0.06%).
India’s reputation as a study destination for internationals is still limited, but with the growth of the Indian economy, this could be set to change.
Here’s five reasons why you should study an MBA in India:
- Top-ranked business schools
The lack of international MBA students in India creates an opportunity for those applying outside of India to get into the top schools.
There are a number of good schools to choose from, but four business schools consistently rank in the Financial Times top 100 Global MBA Rankings.
Indian School of Business (ISB) comes in at number 24 in the 2019 ranking. The Indian Institute of Management’s schools in Ahmedabad, Bangalore, and Calcutta also rank in the top 50 globally.
The relative lack of international students creates an opportunity for those applying outside of India to get into top schools.
- Return on investment
The cost of MBA education at India’s business schools is a fraction of what management education costs in the US or UK. The Indian School of Business estimates the annual cost of education there, plus living expenses, to be around $55,000. That compares to an estimated $80,000 for an MBA from Wharton (excluding living expenses).
There are also a number of scholarships set aside for international students, that cover up to 100% of tuition.
Calculating your return on investment (ROI) can be an important factor in choosing an MBA program: do your homework about both the course costs, and the average salaries after the program.
The Financial Times Global MBA ranking puts ISB’s average salary increase post MBA at 187%, in the top 3 MBA programs for salary increases globally. Graduates from the Indian Institute of Management, Ahmedabad earn an average salary of $186,170, placing the school in the top six MBA programs for average salaries globally. That’s a higher average salary than both University of Chicago, Booth, and INSEAD.
Where do Indian business schools rank globally in terms of MBA salaries?
| School | Average MBA Salary ($) | Overall MBA ranking | Ranking for MBA Salaries |
| Indian Institue of Management, Ahmedabad | 186,170 | 47 | 6 |
| Indian Institute of Management, Bangalore | 178,774 | 33 | 10 |
| Indian Institute of Management, Calcutta | 158,138 | 49 | 21 |
| Indian School of Business | 156,122 | 24 | 26 |
- Jobs
Like many of their counterpart MBA programs in the West, Indian programs also have a high focus on employability. Aditya Singh, director of Athena School of Management, says India’s growth is creating more job opportunities for internationals. Guru Kumara, director for external relations at ISB, agrees. “Indian economic growth is fueling a massive need for high-quality talent,” he says. ISB, Amazon, Bain, BCG, Google, McKinsey, and Uber were among the companies who reported their largest single-campus hiring from ISB in India last year.
- Startups
India is currently one of the fastest-growing and most dynamic economies in the world, with corporate expansion, as well as family business and entrepreneurial ventures, contributing to the array of opportunities available to enterprising business students. This focus on entrepreneurship looks set to increase, as it is becoming a major trend in management education across India.
Aditya credits the skyrocketing number of start-ups being founded in India, as the country becomes one of the largest startup hubs in the world, and says that international students can benefit from learning the Indian way of doing business—the ‘Frugal Innovation’ style Indian businesses have perfected.
Entrepreneurship in India in 2018: Key Facts
| % startup growth | 108 |
| % increase in number of advanced tech startups | 50 |
| Total startup funding | USD 4.2 billion |
| Number of startups founded | 1,200 |
| Number of unicorns | 8 |
- A unique perspective
All of the above contributes to the distinctive character of Indian business education.
As Guru from ISB explains, “MBAs in India are not different from MBAs anywhere else in the world, and yet are very different. They are a good blend of quality academic rigor combined with an ability to get things done.”
Guru elaborates that the key differentiator when it comes to graduate management education in India is that students get access to the India-centric content that they need in order to succeed in the country.
“India is a country with 29 states, each differing from the other in terms of language, culture, customs, etcetera,” he says. “The ability to manage this diversity comes naturally to someone who [has studied] here.”
Which MBA Application Round should I apply in?
The answer to this question lies in understanding the advantages and disadvantages of each MBA application round. Many candidates often remain confused about applying early or waiting till the last round. However, chances of admission depend not only which MBA Application Round you apply in but also on the quality of the application that you come up with.
The rule of thumb you should follow is “Plan well in advance and apply as early as possible to ensure your best foot forward.”
Factors to consider – Which MBA Application Round should I apply in?
The decision of choosing the most suitable MBA Application round depends on these factors
Application Readiness,
If you have a polished resume, look at scholarship options for funding your MBA, work on your essays and have really good letters of recommendation, then Round 1 is your best shot. In case you feel you need additional 2-3 months to improve your application, then submit your application by Round 2. In case, you have an extraordinary profile and have a solid reason for waiting till Round 3 then, this round will be suitable for you.
Target Business School Ranking,
If your target Business School is one among the top 15, then applying in Round 1 is absolutely essential. Why? Because the acceptance rate for these business schools is significantly lower for Round 2 as compared to the first round.
International Students,
As international students have to spend extra time on Visa application and other related formalities, it is better to apply in either of the first 2 Rounds.
Advantages – Applying in round 1 increases your chances of admission as:
It shows serious intent and planning to the admission committees
It also conveys that a particular business school is your first preference and their admission committee could reward you with an admit as well as a scholarship
You are compared with applicants from round 1 only
Applying in this round gives you a chance to apply in other programs in other rounds if you’re not admitted in round 1
How to increase your chances of getting a scholarship
A more effective way to get bigger and better scholarship offers is to start working on it before you submit your application. Here’s what you can do.
- Adopt a well-thought-of application strategy to improve your chances of being awarded a scholarship. Give yourself enough time to build your application.
- If you think your profile is impressive, the essays/SOPs need to reflect that and highlight the various traits including leadership, teamwork as well as your personal, academic, professional achievements or community involvement.
- Let the essays be as concise as possible. Some school essays may include a scholarship essay as well. Be well-prepared for the interview.
Do your best and keep your fingers crossed!
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