Best Countries to Study MBA for Indian Students in 2024

Are you scouting to find the best MBA colleges abroad for Indian students? You’re not alone.  With over 1.5 million Indian students studying internationally in 2024, the search for the best countries for MBA is more relevant than ever.

So, if you are seeking the best country for business studies, this guide has got you covered. 

From the prestigious programs in the USA and UK to affordable options in Canada and Australia, we’ll help you explore the best places for MBA abroad to help you make an informed decision. 

Get ready to begin an exciting journey towards your dream MBA college! 

Key Highlights

Here’s a snapshot of everything discussed in detail in this blog on the best countries for MBA – best MBA colleges abroad for indian students, their tuition fees, and more.: 

Particulars	Details
Best Countries for MBA	USA UK Canada Australia  Germany
Average Annual Tuition Fees at best Countries for MBA*	USA – INR 40L to 60L (USD 60K to 80K) UK – INR 30L (GBP 30K) Canada – INR 20L to 60L (CAD 40K to 100K) Australia – INR 21L (AUD 40K) Germany – INR 12K to 70K (EUR 150 to 900)
Popular MBA Branches	Finance Marketing Human Resource Management (HRM)
Best MBA Colleges Abroad for Indian Students	USA: Harvard Business School UK: London Business School  Canada: Rotman School of Management, University of Toronto Australia: Melbourne Business School Germany: Mannheim Business School
Top Scholarship to Reduce Cost of Studying MBA for Indian Students	Fulbright-Nehru Master’s Fellowships Chevening Scholarships Rotman School of Management Scholarships
Top Recruiters for MBA Graduates	McKinsey & CompanyBoston Consulting Group (BCG)Bain & Company

*Please note: Fees for Indian students studying for an MBA abroad vary depending on the university, the country, and the chosen course. 

Why Study an MBA Abroad? 

The allure of an MBA degree is undeniable. Did you know? MBA graduates represent nearly 39%% of C-suite executives on the 2023 Fortune 1000 list, with CEOs, CFOs, and CTOs more likely to hold an MBA than any other graduate degree.

But the benefits extend beyond just a bigger role. Studying for an MBA abroad opens doors to a world of possibilities. Here’s everything that you should know.

• Global Recognition: MBA degrees from reputed international institutions are recognized worldwide, enhancing career prospects. In the QS World University Rankings by Subject in 2025, Harvard Business School holds the top global position.
  
• Networking: Imagine building connections with leaders and alums like Meg Whitman, Former CEO of Hewlett-Packard and eBay; Andrea Jung, Former CEO of Avon Products; Martin Winterkorn, Former CEO of Volkswagen Group; and others.
  
• Diverse Specialization: Top business schools worldwide offer specialised MBA programs in fields like Entrepreneurship, Finance, Marketing, and Operations Management.

• Career Boost: Employers highly value an international MBA. Did you know that 89% of corporate recruiters plan to hire MBA graduates in 2024? That’s a huge endorsement of the degree’s value!
  
• Competitive Salaries: You can now expect to earn an average salary of INR 96L ($115k) per year!
  
• Scholarship Opportunities: Abundant scholarship opportunities await, offering financial support to help you pursue your studies stress-free abroad. One example is the Forté Fellowship, which awards up to GBP 20k (INR 22L)  to outstanding women pursuing full-time MBA programs at participating business schools. 

Which Country is the Best for MBA for Indian Students? 

“An MBA is not just about mastering financial statements; it’s about understanding the global language of business and building bridges across cultures.“ – Indra Nooyi (Former CEO of PepsiCo)

If you’re searching for the best MBA colleges abroad for Indian students without work experience, affordability is a key consideration. While some countries offer prestigious MBA programs, they often require work experience for admission, which can be expensive. 

Alternatively, there are top-tier MBA programs abroad welcoming applicants without extensive work backgrounds, offering both quality education and affordability.

Here is a list of the top 5 best countries for MBA.

Best Countries for MBA	Average Annual Tuition Fees at Best MBA Colleges Abroad for Indian Students
USA	INR 61L (USD 73k)
UK	INR 1CR (GBP 98k)
Canada	INR 43L (CAD 72k)
Australia	INR 49 lakh (AUD 90k)
Germany	INR 38L (EUR 43K)

1. USA

Have you ever dreamt of scaling the heights of American business? Picture yourself walking the halls of prestigious universities, learning from industry titans, and making connections that will propel you to the top. 

In 2023, NAFSA reported that 91% of international MBA graduates in the US received job offers within three months of graduation.

Here’s a closer look at the comparative overview of MBA programs in the USA. 

Particulars	Details
Top 5 Universities	Harvard Business School Stanford Graduate School of Business The Wharton School, University of Pennsylvania MIT Sloan School of Management Booth School of Business, University of Chicago
Popular MBA Branches	Finance Marketing Operations Management  Information Systems Entrepreneurship
Duration of the Programme	2 Years
Requirements for Indian Students	Bachelor’s degree GMAT: 650 GRE: 320  TOEFL: 105 IELTS:7.5
Approx Annual Fee Range	INR 37L- 75L (USD 50k – 100k)
Working Hours	Up to 20 hours per week

Worried that you might not be able to afford the cost of studying and living in the USA? Worry no more – Leap Finance is here to help you. We offer collateral-free loans to Indian students studying a master’s course in the US. What’s more? Our comprehensive loans can cover your entire tuition fees and stay. Get a loan offer in 10 minutes.

Also Read: MBA Colleges in USA for Indian Students: Fees, Requirements. 

2. UK

Hear the iconic chimes of Big Ben as you move through the historic streets on your way to prestigious universities steeped in academic excellence. 

According to a 2024 report by the QS World University Rankings, 7 out of the top 10 universities for one-year MBA programs are located in the UK.

Discover your route to success with a comparative overview of MBA programs in the UK: 

Particulars	Details
Top 5 Universities	London Business School University of Oxford Said Business School The University of Cambridge Judge Business School Imperial College Business School Warwick Business School
Popular MBA Branches	Finance Marketing Operations Management Information Systems Entrepreneurship
Duration of the Programme	1- 2 Years
Requirements for Indian Students	Bachelor’s degree GMAT: 650 GRE: 325  TOEFL: 100 IELTS:7.5
Approx Annual Fee Range	INR 32L – 75L (GBP 30k – 70k)
Working Hours	Up to 20 hours per week

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3. Canada

Are you seeking a world-class education that prioritizes both academic excellence and real-world application? Look no further than the captivating world of Canadian MBA programs!

In Canada, the average MBA acceptance rate is approximately 40% for top universities among about 100 programs recognized for affordability, student satisfaction, and academic excellence.

Here is a comparative overview of MBA programs in Canada. 

Particulars	Details
Top 5 Universities	Rotman School of Management (University of Toronto) Ivey Business School (Western University) Desautels Faculty of Management (McGill University) Schulich School of Business (York University) Sauder School of Business (University of British Columbia)
Popular MBA Branches	Finance Marketing Operations Management Information Systems Entrepreneurship
Duration of the Programme	1- 2 Years
Requirements for Indian Students	Bachelor’s degree GMAT: 600GRE: 325 TOEFL: 105IELTS:7
Approx Annual Fee Range	INR 19L – 37L (CAD 30k – CAD 60k)
Working Hours	Up to 20 hours per week

4. Australia 

G’day Mate! Ever dreamt of pursuing an MBA amidst stunning beaches, a vibrant multicultural society, and a booming economy? Welcome to the exciting world of Australian MBA programs!

Did you know? Australia offers more than 60 different MBA courses to choose from. 

This table is your one-stop guide to the diverse landscape of Australian MBA programs. 

Particulars	Details
Top 5 Universities	Melbourne Business School Australian Graduate School of Management (AGSM) University of Sydney Business School University of Queensland Business School Monash Business School
Popular MBA Branches	Finance Marketing Operations Management Information Systems Entrepreneurship
Duration of the Programme	1- 2 Years
Requirements for Indian Students	Bachelor’s degree GMAT: 650 GRE: 320  TOEFL: 100 IELTS:7.5
Approx Annual Fee Range	INR 17L – 39L (AUD 30k – AUD 70k)
Working Hours	Up to 40 hours per fortnight (every two weeks)

5. Germany

Imagine yourself in the heart of Europe, surrounded by majestic castles and a culture that values both precision and innovative ideas. This is the world of German MBA programs, waiting to ignite your entrepreneurial spirit! 

Germany stands out as the cheapest country to study MBA for Indian students, and it is also one of the easiest countries to get a work visa.

Here is a comparative overview of MBA programs in Germany.

Particulars	Details
Top 5 Universities	Mannheim Business School ESMT Berlin WHU Otto Beisheim School of Management HHL Leipzig Graduate School of Management Frankfurt School of Finance & Management
Popular MBA Branches	Finance Marketing Operations Management Information Systems Entrepreneurship
Duration of the Programme	1- 2 Years
Requirements for Indian Students	Bachelor’s degree GMAT: 600GRE: 320 TOEFL: 100IELTS:7
Approx Annual Fee Range	INR 9L – 27L (EUR 10k – 30k)
Working Hours	Up to 120 full days or 240 half days per year

3 Best MBA Colleges Abroad for Indian Students Without Work Experience

Now that you know the best countries for an MBA, let’s dive into the top universities where you can turn those aspirations into reality. 

Choosing the right university is crucial — it’s about finding that perfect blend of academic excellence, global reputation, and a supportive environment that nurtures your career ambitions.

Here’s a closer look at the top 3 best MBA colleges abroad for Indian students: 

Top Engineering Universities	QS World University Rankings 2025	Average Annual Tuition Fees
Harvard Business School (USA)	1	INR 50L to INR 66L ($60K to $80K)
London Business School (UK)	3	INR 34L to INR 48L (£38K to £54K)
Rotman School of Management (Canada)	12	INR 35L to INR 50L (£33K to £48K)

1. Harvard Business School (USA)

Steeper than a knowledge climb? Enter Harvard Yard. Founded in 1636, it’s a breeding ground for future presidents, billionaires, and Nobel laureates.  

In fact, Harvard University boasts an impressive alum network that includes 62 living billionaires among its graduates.

With a library that contains more books than most countries, Harvard is a haven for the intellectually hungry. From rubbing lucky toes to tackling global challenges, Harvard pushes boundaries and shapes the world.

Best MBA Courses: 

• Finance: Comprehensive coverage of corporate finance, investment strategies, and financial markets.
• Marketing: Strategic marketing principles, consumer behaviour analysis, and brand management strategies.
• Entrepreneurial Management: Focus on entrepreneurship, venture capital, innovation, and startup management.

Here is a table highlighting the English Language requirements. 

Minimum English Proficiency Test Scores for MBA Programs in the USA
English Proficiency Test	Minimum Scores Required
IELTS	7.5
TOEFL	109
PTE	75

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2. London Business School (UK)

London Business School: Where global diversity meets elite education at Baker Street, London’s academic heartbeat. 

With top-ranked programs spanning finance to entrepreneurship and an international community representing over 110 nationalities, it’s the launchpad for future leaders shaping industries worldwide.

London Business School’s Master’s in Management program boasts a remarkable 94% employment rate within three months of graduation. 

Best MBA Courses: 

• Finance: Equips students with analytical skills in corporate finance and investment strategies.
• Marketing: Focuses on strategic market analysis and effective brand management.
• Entrepreneurship: Prepares students for startup success through innovative strategies and venture management.

Minimum English Proficiency Test Scores for MBA Programs in the UK
English Proficiency Test	Minimum Scores Required
IELTS	7.5
TOEFL	100
PTE	70

3. Rotman School of Management (Canada)

Want to change the game? Join the Rotman revolution! At the heart of Toronto’s business district, Rotman’s vibrant energy ignites minds, fosters leadership, and empowers graduates to tackle the world’s toughest challenges.

Rotman School of Management boasts an impressive alumni network of 18,000 graduates spanning 90 countries, making it a global powerhouse in business education and leadership development.

Best MBA Courses: 

1. Finance: Rigorous coursework in corporate finance, investment strategies, and financial markets.
2. Marketing: Strategic focus on market analysis, consumer behaviour, and brand management.
3. Entrepreneurship: Emphasis on startup strategies, venture capital, and innovation management.

Minimum English Proficiency Test Scores for MBA Programs in Canada
English Proficiency Test	Minimum Scores Required
IELTS	7
TOEFL	100
PTE	70

Eligibility for Studying at Best MBA Colleges Abroad for Indian Students

Did you know? Approximately 70% of international MBA students visit at least 3 different countries every year. 

If that gets you excited, it’s now time to check the eligibility for the best countries for business studies where diverse opportunities await. 

• Bachelor’s Degree: A recognized undergraduate degree in any discipline
  
• Work Experience: 2-5 years of professional work experience preferred
  
• GMAT/GRE Scores: Competitive scores in GMAT or GRE tests
  
• English Proficiency:

-TOEFL: Minimum score of 109

-IELTS: Minimum score of 7.5

-PTE: Minimum score of 75

• Academic Transcripts: Official transcripts from previous educational institutions
  
• Letters of Recommendation: 2-3 LORs from professional or academic referees
  
• Statement of Purpose (SOP): An essay outlining career goals and reasons for pursuing an MBA
  
• Resume/CV: Detailed professional resume or curriculum vitae
  
• Interview: Personal or virtual interview (varies by institution)
  
• Financial Proof: Evidence of ability to finance education and living expenses

Please note: Eligibility criteria will vary depending on the course and the university. Hence, please check the university’s official website before applying. 

Scholarships to Reduce the Cost of Studying MBA Abroad

Pursuing an MBA abroad is a dream for many, but the hefty price tag can be daunting. However, with the right scholarships, this dream can become an affordable reality. 

Did you know that over 50% of MBA students at top business schools like INSEAD and Harvard Business School receive some form of financial aid or scholarship?​ ​

Here’s a comprehensive list of scholarships designed to reduce the cost of studying for an MBA abroad. 

Scholarship Name	Description & Eligibility	Award Amount (INR)
Fulbright-Nehru Master’s Fellowships	U.S. government-sponsored program for Indian students	Up to USD 42k (INR 35L*)
Chevening Scholarships	UK government program for global leaders	Up to GBP 50k (INR 50L*)
Rotman School of Management Scholarships	Scholarships for MBA students at Rotman School in Canada	Up to CAD 48k (INR 40L*)
Australia Awards Scholarships	Scholarships for students from developing countries	Up to AUD 75k (INR 60L*)
DAAD Scholarships	Scholarships for international students in Germany	Up to EUR 34k (INR 30L*)

*Please Note: Amounts are indicative based on typical coverage of tuition fees, living expenses, and other associated costs. 

High-paying Jobs After Studying MBA Abroad in 2024

If you’ve reached this point, you’re likely convinced to pursue an MBA abroad. When considering the best countries for an MBA, it’s crucial to understand the immense career opportunities that await graduates.

Did you know that MBA graduates from top institutions like Harvard often see salary increases of up to 60-80% post-graduation? 

Here’s a look at some of the top high-paying jobs MBA graduates can expect in 2024.

Job Roles	Average Annual Salary (INR)
Chief Technology Officer (CTO)	INR 22L – 27L (USD 160K –  200K)
Investment Banker	INR 12L –  16L(USD 150K – 200K)
Management Consultant	INR 11L –  14L (USD 140K – 165K)
Financial Manager	INR 10L – 12L(USD 130K – 160K)
Marketing Manager	INR 9L – 11L (USD 120K – 150K)
Product Manager	INR 8L – 10L(USD 110K – 140K)
Operations Manager	INR 7L – INR 9L (USD 100K -130K)

Top Recruiters for MBA Graduates

When it comes to pursuing an MBA, securing a position with a top recruiter is often the ultimate goal for many students. A degree from a top university not only provides a world-class education but also places you in high demand, allowing you to choose the ideal company to kickstart your career. 

Here is a list of some of the top recruiters in the world for MBA graduates:

1. McKinsey & Company
2. Boston Consulting Group (BCG)
3. Bain & Company
4. Goldman Sachs
5. J.P. Morgan
6. Google
7. Amazon
8. Apple
9. Microsoft
10. Deloitte
11. Facebook
12. Procter & Gamble
13. PepsiCo
14. Citi
15. Morgan Stanley

To Conclude

Studying for an MBA abroad is more than just an educational experience — it’s a gateway to some of the highest-paying and most fulfilling careers in the global market. The best countries for MBA programs, such as the USA, UK, Canada, Australia and Germany, offer unparalleled opportunities and exposure that can significantly enhance your career trajectory. 

While this blog has covered the essential details about studying MBA abroad for Indian students, it’s natural to have specific questions or need personalized guidance. Here is where you take the Leap! 

LeapScholar has over 1,500 experts ready to assist you in navigating the complexities of studying abroad. Don’t let uncertainties hold you back from pursuing your dream education. Book a free call with our experts today and take the first step towards an exciting future.

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