Best Country To Study MBA: Here Are The Top 10 Picks

MBA is one of the most sought-after degrees. MBA stands for Masters In Business Administration, and depending on the specialization you choose in your MBA, you will be licensed to join a variety of jobs in the corporate sector and beyond. Graduating with an MBA from a renowned university can do a lot for your career! It also helps you climb the corporate ladder - many top companies like Google and Microsoft hire MBA graduates from the best universities globally. Getting an MBA from a foreign country is the dream of many people, and today, I am here to tell you about the best country to study for MBA.

Over 4 million Indians sign up for an MBA program in India itself, with many going to other countries to study abroad for this course. There are so many countries that offer an MBA. Which is the best country to study for an MBA? This is a dilemma for many foreign applicants. So, if you’re looking for the best country to study for an MBA and work, you’re at the right place. We have done all the research and listed out all the top countries for MBA globally. 

Best Countries to Study MBA in 2024

So many countries offer high-quality MBA degrees that offer so many benefits. Here are the best 10 countries for MBAs around the world, where you can earn your degree and get a job as well.

1. United States Of America

Top Universities and Rankings

• Stanford University (Ranked #1)
• University of Pennsylvania (Wharton) (Ranked #2)
• Northwestern University (Kellogg) (Ranked #3)
• University of Chicago (Booth) (Ranked #4

Costs

• Tuition Fees: $60,000 to $100,000 per academic year
• Living Costs: Approximately $2,500 to $3,000 per month

Visa and Post-Study Work Opportunities

• F-1 student visa for studies
• Optional Practical Training (OPT) allows up to 3 years of work experience after graduation

Job Placement and Salaries

• High job placement rates, often exceeding 90% within three months of graduation.
• Average starting salaries range from $120,000 to $150,000, with top programs reporting even higher figures.

The US is a top study destination for most educational courses, and it is not a surprise that it is often considered to be the best country to study MBA in. The US offers over 350 MBA programs and a vibrant start-up and business culture, making it the best country to study MBA and work in as well.

You can also expect practical applications and experiences and a variety of internship opportunities while studying in the US. Students who graduate from the US with an MBA also get loads of job opportunities that pay well. The average annual package for an MBA graduate in the US is a whopping $172,265. Amazing, right? 

2. United Kingdom 

Top Universities and Rankings

• London Business School
• University of Oxford (Saïd)
• University of Cambridge (Judge)
• Imperial College Business School

Costs

• Tuition Fees: £20,000 to £60,000 (approximately 20,000 to 60,000 EUR) per year
• Living Costs: £1,000 to £1,500 per month, higher in London

Visa and Post-Study Work Opportunities

• Tier 4 student visa for studies
• Graduate Route visa allows 2 years of post-study work (3 years for PhD graduates)

Job Placement and Salaries

• Strong job placement rates, typically above 85% within three months
• Average starting salaries range from £45,000 to £55,000, with top graduates earning significantly more

The United Kingdom has always been a pioneer in education. With many institutions like the University of Oxford and Cambridge under its belt, it is often regarded as the best country to study MBA and so many other disciplines. Cities like London and Dublin are also home to many bustling and successful businesses and multinational corporations. This makes the UK an ideal place for individuals who wish to join the booming business scene. 

An MBA in the UK is typically just one year long, so you can save your time and money while doing this course in the UK. The cost of education and living in the UK is thus reduced by a great margin, making it a cost-friendly option. Moreover, the rate of investment is pretty good with the average annual salary being $117,000 for MBA graduates in the UK, making it the best country to study MBA and work in as well. Thus, it can be regarded as an option that is cheap and the best country in which to study for an MBA.

3. Canada 

Top Universities and Rankings

• University of Toronto (Rotman)
• McGill University (Desautels)
• University of British Columbia (Sauder)
• Queen's University (Smith)

Costs

• Tuition Fees: 30,000 to 70,000 CAD per year
• Living Costs: 800 to 1,000 CAD per month

Visa and Post-Study Work Opportunities

• Study permit for the duration of the program
• Post-Graduation Work Permit (PGWP) allows up to 3 years of work experience

Job Placement and Salaries

• Job placement rates typically exceed 80% within three months of graduation
• Average starting salaries range from 80,000 to 120,000 CAD, with finance sector offering higher packages

Canada offers relatively affordable tuition and high-quality education and is thereby regarded as the best country to study MBA by many new-age applicants. Canada is also a very immigrant-friendly country and they attract foreign students not just for education but also for work prospects. It can be regarded as the premier destination for pursuing an MBA and building a career.The quality of education in Canadian universities remains unparalleled, as over 20 Canadian institutions have been recognized in the QS Global MBA Rankings in 2024. 

The living expenses in Canada are easily manageable as well, and the jobs pay well too. It is a cheap and best country to study MBA. 

Plus, Canada has many Indian communities settled in the country, so if you immigrate to Canada, you will never feel too far from home! It is thus the best country for Indian students to study for an MBA. 

4. Australia 

Top Universities and Rankings

• Melbourne Business School
• University of New South Wales (AGSM)
• Monash University
• University of Sydney Business School

Costs

• Tuition Fees: 30,000 to 68,000 AUD per year
• Living Costs: Approximately 21,000 AUD per year

Visa and Post-Study Work Opportunities

• Student visa (subclass 500) for studies
• Post-Study Work visa allows 2-4 years of work experience based on qualification level

Job Placement and Salaries

• Job placement rates typically exceed 85% within three months of graduation
• Average starting salaries range from 85,000 to 95,000 AUD, with potential for higher earnings in certain sectors

The Land Down Under has always been a favorite for any business-related degree for many years. It is considered to be the best country to study MBA because of its excellence in business education. The nation is home to numerous local startups and a thriving economy, positioning it as an ideal destination for pursuing an MBA and building a career. Moreover, they encourage foreigners to come and study in Australia and are very immigrant friendly, making it the best country for Indian students to study for an MBA. 

According to QS world rankings, Australia has always been in the top 5 countries for MBA education. Australia also has a very affordable cost of living for higher education when compared to its Western counterparts, making it a cheap and best country to study MBA. 

5. Germany 

Top Universities and Rankings

• Mannheim Business School
• ESMT Berlin
• WHU - Otto Beisheim School of Management
• Frankfurt School of Finance & Management

Costs

• Tuition Fees: 7,000 to 44,000 EUR per year for private universities, significantly lower for public universities
• Living Costs: Approximately 850 to 1,000 EUR per month

Visa and Post-Study Work Opportunities

• Student visa for studies
• Post-study work visa allows up to 18 months to find a job related to the degree.

Job Placement and Salaries

• Job placement rates vary but are generally strong, especially in technology and manufacturing sectors
• Average starting salaries range from 50,000 to 70,000 EUR, with potential for higher earnings in finance and consulting roles

Known for its bustling economy, it is considered the best country to study MBA due to its rich technological advancement. Germany is years ahead of most Western countries in terms of robotic technology and manufacturing and is, therefore, home to many businesses. It is considered one of the best countries to study for an MBA and work in due to this reason. 

Germany is an affordable country for many reasons. The cost of tuition is very affordable and the quality of education is unparalleled. Germany also offers loads of scholarships for international students. The cost of living in Germany is low as well. It is, therefore, cheap and the best country to study MBA. 

6. Singapore 

Top Universities and Rankings

• INSEAD Singapore
• Nanyang Business School, NTU
• National University of Singapore (NUS) Business School
• Singapore Management University (SMU)

Costs

• Tuition Fees: SGD 60,000 to SGD 90,000 per year
• Living Costs: SGD 1,500 to SGD 2,500 per month

Visa and Post-Study Work Opportunities

• Student pass required
• Long-Term Visit Pass for job search

Job Placement and Salaries

• High placement rates in finance and consulting
• Average starting salary: SGD 100,000 to SGD 150,000

Singapore is a student favourite country, as it is safe, student-friendly, and has high standards of living. It can be considered the best country to study MBA as it is a hub of finance and business as well, with a strong economy and thriving entrepreneurial spirit. The education system in Singapore is also regarded as one of the best in the world. Moreover, English is the main language for instruction, making it the best country to study MBA for Indian students as well. 

The average MBA program is 1 year long, and if you go for a part-time program, that might be 18 months long. Singapore might not be the most pocket-friendly country to study in, but the rate of employment is high, and you can definitely earn your money back after you work here! 

7. Spain 

Top Universities and Rankings

• IESE Business School
• IE Business School
• ESADE Business School
• EADA Business School

Costs

• Tuition Fees: €50,000 to €75,000 per year
• Living Costs: €800 to €1,200 per month

Visa and Post-Study Work Opportunities

• Student visa required
• Job search visa available for 1 year

Job Placement and Salaries

• Strong placement in consulting and finance
• Average starting salary: €50,000 to €80,000

Spain is one of the most underrated countries to pursue an MBA in. Many people do not know this, but Spain has some of the best MBA programs in the world. Spain offers a very different yet quite competitive educational environment. It is also easy to create and maintain a new network of connections in Spain, which can eventually help you get a job. Moreover, Spain has a whopping 168 business schools in the top 500 list. Isn’t that impressive? 

In Spain, you can complete your MBA in just one year, saving time and money. Spain is also a beautiful country with lots to offer in terms of culture and heritage. There are a lot of recreational activities and sightseeing opportunities for you to undertake in your free time. 

8. France

Top Universities and Rankings

• INSEAD
• HEC Paris
• ESSEC Business School
• EDHEC Business School

Costs

• Tuition Fees: €40,000 to €70,000 per year
• Living Costs: €1,000 to €1,500 per month

Visa and Post-Study Work Opportunities

• VLS-TS visa for studies
• APS visa allows 1-2 years of work

Job Placement and Salaries

• High placement rates, especially in luxury brands
• Average starting salary: €60,000 to €100,000

One of the best nations for higher education in Europe, France is often considered as the best country to study MBA in Europe. France has one of the best MBA programs in Europe with a wide array of opportunities and programs to enroll in during and after your MBA is done. France has some of the most prestigious schools for business in the world. There are 10 French universities in the top 350 universities in the world, as per the list presented by QS world ranking for the best business schools. 

The average MBA program in France is 2 years long. However, you might also find some shorter options. The return on investment is quite high if you obtain a degree from a French university. France is also very well connected to the EU, so you will have many EU options to explore as well, which widens the range of opportunities that you can access.  

9. The Netherlands 

Top Universities and Rankings

• Rotterdam School of Management, Erasmus University
• Amsterdam Business School
• Nyenrode Business University
• Maastricht School of Management

Costs

• Tuition Fees: €30,000 to €60,000 per year
• Living Costs: €800 to €1,200 per month

Visa and Post-Study Work Opportunities

• MVV and VVR visas required
• Orientation Year visa allows 1 year of work

Job Placement and Salaries

• Strong placement rates
• Average starting salary: €50,000 to €80,000

Over the last decade, the Netherlands has emerged as one of the top countries for higher education, and MBA is no exception to it. The quality of education in the Netherlands is not only very pristine, it is also quite affordable, especially by EU standards. This factor has made it a cheap and best country to study MBA in as well. Plus, the Netherlands is a multicultural hub of expats from all around the world who have immigrated to the country for educational and job prospects. It is truly a global country. 

The Netherlands is not an English-speaking country, but it offers many courses at the undergraduate and graduate levels which are taught in English. In fact, it was the first country to do so. English is also very widely spoken in the country, and most locals know how to communicate in English quite well. So, you will have no trouble adjusting to the country and communicating with the people around you. 

10. Italy

Top Universities and Rankings

• SDA Bocconi School of Management
• Politecnico di Milano School of Management
• LUISS Business School
• Bologna Business School

Costs

• Tuition Fees: €30,000 to €60,000 per year
• Living Costs: €800 to €1,200 per month

Visa and Post-Study Work Opportunities

• Student visa required
• Temporary residence permit for job search

Job Placement and Salaries

• Placement rates vary
• Average starting salary: €40,000 to €70,000

Italy is one of the most popular spots for an MBA in Europe. MBA in Italy has a well-mapped course and a competitive curriculum that enables students to go beyond the classroom and gain industry-specific skills. The country’s MBA program is designed to promote hands-on learning with internships and courses that prepare the student for the real corporate world outside the classroom. 

Italy also happens to be one of the most affordable countries in Europe to study in. You will be spending much less than you might spend in other countries on an MBA degree. However, do not assume this to be the case with the average salary of the MBA graduate from Italy- Italy offers very competitive salaries for MBA graduates. MBA graduates have some of the most well-placed jobs in the country.

Factors to Consider When Choosing a Country for MBA

When deciding where to pursue your MBA abroad, several crucial factors come into play. Carefully evaluating these aspects will help you make an informed decision that aligns with your career goals, financial situation, and personal preferences.

1. Quality of Education and Program Reputation

• Rankings of business schools in the country
• Accreditation status of MBA programs
• Faculty expertise and research output
• Curriculum structure and specializations offered

2. Career Opportunities and Job Market

• Post-MBA employment rates and average salaries
• Presence of multinational companies and relevant industries
• Internship opportunities during the program
• Strength of alumni networks and career services

3. Visa Regulations and Work Permits

• Ease of obtaining student visas
• Post-study work visa options and duration
• Long-term immigration pathways for skilled professionals

4. Cost of Education and Living Expenses

• Tuition fees for international students
• Cost of living in major cities
• Availability of scholarships, grants, and financial aid
• Part-time work opportunities for students

5. Language Requirements and Cultural Fit

• Programs taught in English vs. local language
• English proficiency test requirements (TOEFL, IELTS)
• Cultural similarities or differences with your home country
• Ease of adaptation to local lifestyle and customs

6. Program Structure and Duration

• Length of MBA programs (1 year vs. 2 years)
• Balance between classroom learning and practical experience
• Opportunities for study abroad or exchange programs
• Flexibility in course selection and specializations

7. Return on Investment (ROI)

• Average time to recoup MBA costs through increased earnings
• Career progression opportunities in chosen industries
• Long-term value of the degree in global job markets

8. Admissions Requirements and Process

• GMAT/GRE score expectations
• Work experience requirements
• Application deadlines and processing times
• Interview process (in-person vs. virtual)

9. Networking Opportunities

• Size and global reach of alumni networks
• Industry connections of the business school
• Opportunities to attend conferences and networking events

10. Quality of Life and Safety

• Overall safety and political stability of the country
• Healthcare system quality and accessibility
• Climate and geographical features
• Cultural and recreational activities available

By carefully considering these factors, you can identify the country that offers the best combination of educational quality, career prospects, and personal growth opportunities for your MBA journey. Remember to research thoroughly, reach out to alumni or current students, and potentially visit your shortlisted countries if possible before making your final decision.

Comparison of MBA Programs Across Countries

Conclusion 

Pursuing an MBA is advantageous as you have much to gain from it. An MBA prepares you with all the knowledge you need in the field you excel in before joining a business or a corporation. Many countries offer loads of MBA opportunities for Indian students. So when you ask, “Which is the best country to study MBA for Indian students?” or “Which is the best country to study MBA and work in?” you must consider all the different factors. What are the factors you consider most important in a country? Various factors come into play when choosing the ideal country to pursue your MBA, depending on your specific requirements.

For those seeking international options to pursue an MBA, look no further than TerraTern for expert guidance.