6 Reasons Why You Should Consider MBA Outside the United States

Many students are opting to pursue their MBA abroad, sometimes traveling halfway around the world. Though programs outside of the United States may not prove the best option for each and every student, there are many reasons to consider this opportunity.

1. OPPORTUNITIES ABOUND

Going abroad for your MBA education does not require a sacrifice in quality. There are many top-ranked and highly selective business schools outside the United States.

London Business School in England, for example, focuses on international business. For this reason, they require that each applicant achieve fluency in English and at least one other language.
Acceptance to the International Institute for Management Development in Switzerland involves quite an arduous process. After 10 essays and submission of test scores, applicants are interviewed, asked to participate in a case study discussion, and then give a presentation. In the end, about 30 percent of applicants are offered admission.

The Canadian Queen's School of Business places emphasis on team-based learning and focuses on their professors as leaders. The school maintains a 3:1 student/faculty ratio in order to foster accessibility and cooperation.

2. GLOBAL BUSINESS

In today's business environment, the boundaries between countries lessen each day. As such, pursuing a degree abroad could provide vital experience in dealing with the ever-growing global business conditions.

Insead Business School is one example of an institution with a global perspective. Insead's website describes the school as "a stimulating learning platform for the next generation of transcultural leaders" with campuses in Abu Dhabi, France, and Singapore.

Many US schools are also focusing on giving students ample opportunity to study abroad. Students at the Wharton School of the University of Pennsylvania, for example, are able to take part in exchange programs and study in places such as Beijing or Israel.

3. LESS TIME FOR DEGREE

While many MBA programs in the United States take two years to complete, programs abroad may only require about year for a degree.

The International MBA program at Instituto de Empresa in Madrid, for example, only lasts 13 months from November to the following December. The program even includes an orientation session beginning in September with an intensive Spanish course.

The University of Cambridge's One-Year MBA program lasts only ten months, from October to August. This program is largely focused on projects and located in Silicon Fern, which hosts many new bio-tech and high-tech businesses.

Visit Macquil's list of the Top Ten One Year MBA Programs for more details.

4. FINANCIAL BENEFIT

The opportunity cost of leaving your job for only one year versus two presents a real challenge when weighing between studying in the US and going abroad. Business schools outside of the United States cost considerably less than business schools in the United States.

For example, Harvard Business School tuition costs around $51,200 per year and this does not include additional fees for room and board, books, health services and student travel and entertainment.  This is just for one year and does not include the room and board. Tuition at London Business School is £53,900 for a program that lasts between 15-21 months. 

5. QUALITY

In the past few years, the quality of the non-US programs has been on the rise. A few years ago most of the top business schools in the Financial Times rankings were from US business schools. Today, over half of the top ten programs, according to the FT, are from outside the US. The Financial Times ranking has LBS in the number one spot with five other non-US schools (Insead, Hong Kong UST, IE, and Iese). Students opting to go to non-US business schools will find a high caliber of students as well as competitive salaries for graduates of the programs.

6. THE EXPERIENCE

The most obvious and, likely, most exciting aspect of pursuing an MBA abroad is the opportunity to live elsewhere and to experience a new culture while gaining valuable knowledge and a quality education.

International education also presents many opportunities to create a global network comprised of potential employers and colleagues. Many business schools in Europe are naturally inclined to be international because of their small size and the abundance and closeness of many landmarks and languages. This attracts many students to Europe in pursuit of their MBA.

Ninety percent of MBA students in Madrid's Instituto de Empresa Business School are from outside Spain, with a large growth coming from Asian countries.

Insead, reported as the top business school outside of the United States, is comprised of students from 83 countries.

As the lines between countries continue to fade, business students must focus more and more on the global economy. Taking advantage of study in a foreign country can provide many financial and professional benefits that would be hard to find elsewhere