A master's degree in business administration at a top university abroad offers an unparalleled learning experience to domestic and international students. The teachers, industry exposure, peer group, and student-faculty ratio in an overseas MBA program are usually unmatched. There are many schools that offer master's in business administration with world-class academics, including even Nobel Prize laureates. The stringent process of admission for an MBA abroad helps ensure that the student base of these universities also includes top intellectuals. Read on to learn more interesting details about the master of business administration.
Let’s dive right in…
- Types of Master's Degrees in Business Administration
- Entry Requirements for a Master's in Business Administration
- Benefits of Getting a Master's in Business Administration Abroad
- Best Countries to Study MBA
- Best Universities for MBA Abroad
- Job Opportunities After a Master's in Business Administration
- Kickstart Your Study Abroad Journey Now!
Types of Master's Degrees in Business Administration
It is possible to categorise an MBA according to the presence or absence of a specialisation and the duration of the program. An MBA can be a general program or a specialised one. A general MBA degree offers a comprehensive idea of management and business concepts, such as marketing, finance, and human resources, to name a few. Unlike a general MBA, a specialised one focuses more on a specific field of study related to business or management.
There are also full-time, part-time, and executive master of business administration programs abroad. A full-time MBA is a traditional, on-campus program that takes one or two years to complete. It provides maximum exposure to faculty, university resources, alumni association members, and so on. A part-time MBA is a program with weekend classes, so it takes three or four years to complete. An executive master of business administration is specialised for senior managers and corporate executives with work experience. Here are some master of business administration subjects to consider for your full-time or EMBA specialization.
International Business
The IB specialisation for an MBA abroad has a curriculum that is identical to a general MBA curriculum, but it focuses on cross-cultural management, international finance, and economics. It will help you be ready for an international business career, involving work at companies operating in multiple nations. You will probably study, work, or do both abroad while learning and working with people who have different languages, business cultures, and worldviews.
Once a technical skill ideally suited for engineers, data analytics is now an essential skill across all sectors and positions, including marketing, tech, finance, and sales. A business analytics MBA curriculum includes courses in data optimization, data visualisation, big data, data modelling, and data forecasting. Specialising in this field will help you get ready for a career at a data-focused company in a role like a senior business analytics manager.
Marketing
If you want to enter the field of marketing or accelerate your career in it, a marketing MBA could be ideal for you. There are multiple MBA specialisations in Marketing including digital marketing, general marketing, as well as sales and marketing. In a marketing MBA program, you will learn how to make, promote, and deliver values to your target audience while profiting from them. As per a LinkedIn report, marketing roles are in demand, and a 10% growth in the number of jobs in marketing is expected in the US by 2030.
Consider pursuing a master of business administration degree in finance to land a job at a top banking and finance company and kickstart an elite career. With a finance MBA, you will explore subjects such as fintech, financial risk management, company valuation, and asset management in great detail. A finance MBA is a STEM qualification, which will allow you to stay back in the USA for three years after graduation under the OPT program. As per a recent GMAC report, 36% of finance and accounting companies expect an increase in the demand for those who graduate from business school in the next few years.
Entry Requirements for a Master's in Business Administration
Any undergraduate degree holder may pursue a master of business administration, but it is a must to fulfil certain criteria for admission at a top business school abroad. The eligibility requirements may differ depending on which master of business administration universities or schools you want to attend and the specific course. That said, the requirements generally include the following:
- Strong performances in your bachelor's program will help improve your chances of admission at a top school.
- A good score on any recognised English proficiency test is usually necessary for any program abroad, including a master of business administration. The score requirement may vary from one school to another, so check the admission criteria of the institution where you want to apply for an MBA.
- A strong Statement of Purpose (SOP) will also go a long way towards making you more noticeable than the other candidates. It should have points that highlight why you deserve a chance to pursue a master's degree in business administration at the school you are applying to.
- Albeit not mandatory, recommendation letters from your previous teachers and/or employers, as well as a professional resume, will also be very helpful in securing your seat for an MBA abroad.
- Some schools that offer master's in business administration require candidates to have at least 2 years of work experience. It is usually a requirement for an executive master of business administration program but not for a regular MBA course.
- Whether or not your school requires work experience, having it will only help simplify the program for you with a strong foundation that eases learning about business and management.
Some top business schools overseas require high scores in the Graduate Management Admission Test (GMAT), which are often 600 or more. Some schools that offer master's in business administration accept the Graduate Record Examinations (GRE) in place of GMAT scores, but there are institutions that do not require either standardised test.
|
Course |
Duration |
Basic requirements |
Master of Business Administration |
Up to 2 years |
|
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Benefits of Getting a Master's in Business Administration Abroad
It is a good idea to pursue an MBA abroad, especially if you want to advance your career or start a business. When it comes to a master's degree, an MBA overseas always comes across as the best option. Here, we explain why you should pursue a master's degree in business administration abroad.
More Specialisations
There is a greater number of specialisations available for top master's of business administration programs overseas, making the qualification more skill-oriented and extremely meaningful. Specialisations such as luxury management, sports management, international business, aviation management, business analytics, and data science are more commonly available at top schools abroad. A global MBA or an MBA in international business is widely regarded as the holy grail of graduate education. A global MBA provides you with in-depth knowledge of the challenges that global business leaders face today.
Networking Opportunities
Many business schools abroad allow MBA students to acquaint themselves with one another through workshops, clubs and societies, projects, and internships. Through these activities and your school's alumni association, you can build a vast network of professional contacts, which could be very useful for your career going forward. Interacting with alumni association members, your MBA cohort, and recruiters at job fairs can all be very useful in helping you land your dream job.
Salary and Benefits
Overseas jobs for people with master's degrees in business administration come with attractive pay scales and benefits. For instance, as per a GMAC survey, $115,000 is the average salary of an MBA graduate who is fresh from business school in the USA. Work satisfaction is also a big driver for an MBA abroad. For instance, pursuing an MBA in Europe will allow you to join a flexible work culture on the continent that offers flexible work hours and generous holiday benefits, thereby valuing work-life balance.
Best Countries to Study MBA Courses
A country's economy, governmental and social environments, business culture, and educational opportunities are all major factors in determining where to pursue an MBA abroad. If you take these factors into account, the following are some of the best countries in which you may want to pursue this degree.
Best Universities for a Master's in Business Administration Abroad
The key to ensuring the quality of an MBA program is to choose a good business school or university. There are many top master of business administration universities and business schools around the world, which makes your selection a little tricky. So, how do you know which school to choose for an MBA? We have got you covered with a table of schools that offer master's in business administration and that are considered to be among the world's best for business education.
|
School |
MBA duration |
MBA fees |
|
University Canada West |
2 years |
$38,700 |
|
Coventry University |
1 year |
£20,350 |
|
Monash University |
2 years |
$100,000 |
|
Massey University |
1 year |
$54,700 |
|
American University |
2 years |
$91,434 |
Job Opportunities After a Master's in Business Administration
Top schools that offer master's in business administration have high graduate employability rates, which partly explains why jobs after an MBA abroad are plentiful. The jobs available to you will depend highly on your specialisation of choice. Here is a table showing jobs available after an MBA in the USA, alongside their respective average salary information:
|
Role |
Average salary per year |
|
Business development manager |
$83,000 |
|
General manager |
$79,000 |
|
Project manager |
$88,000 |
|
Operations manager |
$78,000 |
|
Marketing manager |
$96,000 |
Which are some of the MBA specialisations that offer the highest pay?
Marketing, finance, international business, and business analytics are among the master of business administration subjects associated with high pay scales. Approximate salaries for marketing MBA graduates can range between $55,000 and $175,000 in the USA. As per Payscale, the average base pay for business analytics MBA holders is $82,000 in the USA. As per Glassdoor data, the average salary for an MBA in finance degree holder is around $89,000 in the USA. As per Payscale, $101,000 is the average base salary of an international business MBA holder in the USA.
Is it worthwhile to pursue an executive master of business administration abroad?
It is a good idea to pursue an executive master of business administration at a top university abroad if you want a promotion or salary hike. With this qualification from a top business school in a popular study destination, you can land one of the highest-paid jobs. The average salary of an executive master of business administration graduate is about $145,000 a year.
What can you do with a master's degree in business administration?
An MBA degree makes you ready for a job in almost any industry or role. Some of the common MBA jobs are as follows:
- Financial advisor
- Finance manager
- HR manager
- IT manager
- Investment banker
- Management consultant
- Management analyst
- Operations manager
- Marketing manager
Why do undergraduate students pursue a master of business administration?
The reasons why bachelor degree holders think about attending business school may be multifaceted, but higher salaries are a major factor. For instance, according to recent Bloomberg Businessweek survey results, around 73% of sophomores at schools in the USA said that increased compensation is among the reasons why they want to pursue an MBA.
Are you interested in pursuing a master of business administration? Approach our counsellors for a free one-on-one consultation to learn more about the cheapest MBA programs abroad for international students.
