Key Highlights
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
Cost Of Education: 37 lakhs to 64 lakhs INR
Cost Of Living: 2.5 lakhs to 3 lakhs INR per month
Average Salary: 95.5 lakhs INR
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
Cost Of Education: 36 lakhs to 83 lakhs
Cost Of Living: 1.5 lakhs INR per month
Average Salary: 85 lakhs to 99 lakhs INR
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
Cost Of Education: 30 lakhs to 70 lakhs INR
Cost Of Living: 80,000 to 1 lakh INR per month
Average Salary: 60 lakhs INR
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
Cost Of Education: 30 lakhs to 68 lakhs INR
Cost Of Living: 98,000 INR per month
Average Salary: 55 lakhs to 65 lakhs INR
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
Cost Of Education: 7 lakhs to 44 lakhs (private universities) and 17,000 to 1.5 lakhs (public universities)
Cost Of Living: 1.2 lakhs per month
Average Salary: 31 lakhs to 70 lakhs INR
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
Cost Of Education: 11 lakhs to 55 lakhs INR
Cost Of Living: 93,500 INR per month
Average Salary: 77 lakhs INR
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
Cost Of Education: 87000 to 17 lakhs INR
Cost Of Living: 72000 to 1.5 lakhs INR per month
Average Salary: 46 lakhs to 63 lakhs INR
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
Cost Of Education: 25 lakhs to 84 lakhs INR
Cost Of Living: 72000 to 1.25 lakhs INR per month
Average Salary: 74 Lakh - 78 Lakh
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
Cost Of Education: 13 lakhs to 59 lakhs INR
Cost Of Living: 86000 INR per month
Average Salary: 39 lakhs INR
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
Cost Of Education: 16 lakhs to 42 lakhs INR
Cost Of Living: 68000 INR per month
Average Salary: 73 lakhs INR
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.
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.
