An MBA is a gateway to a powerful career for ambitious professionals in India. It is one of the most sought-after postgraduate degrees that open doors to senior leadership roles, impressive salaries, and immense entrepreneurial opportunities. However, the growing demand for international exposure has encouraged Indian students to look beyond the B-schools within India.
In this post, we will explore the value of a foreign MBA for Indian students, the benefits of pursuing an MBA in Ireland, and the career prospects it offers in India.
Why Do Indian Students Choose a Foreign MBA?
Many Indian students decide to study abroad due to personal and professional reasons. Top Indian management institutions in India, such as IIMs, ISB, and XLRI, offer excellent MBA programmes. However, they have limited seats, the competition is fierce, and the costs are no less than those of foreign universities.
Here are some key reasons why Indian students prefer a foreign MBA:
- Global Exposure: When studying abroad, you gain exposure to a cross-cultural atmosphere, interact with people from around the world, and learn how businesses operate in different markets.
- Diverse Curriculum: International MBA programmes often combine case-based learning, industry projects, and practical exposure to help students develop real-world business skills.
- Specialisations: Many universities abroad provide a broad selection of specialisations, including international business, finance, data analytics, and digital marketing.
- Networking Opportunities: Foreign universities have extensive alumni networks with global reach, allowing students to connect with professionals in multiple countries.
- Career Opportunities: An international MBA can open doors to roles in multinational corporations, offering the flexibility to explore career prospects in both the host country and back home in India.
The Rising Popularity of the MBA in Ireland
Among the numerous study-abroad destinations, Ireland has emerged as one of the most attractive options for Indian students pursuing an MBA. A masters in Ireland provides a unique combination of high-quality education, affordable tuition costs, and post-study work opportunities.
Wondering why Ireland? Here are some valid reasons:
- English-Speaking Country: Since most Irish universities teach courses in the English language, Indian students do not face major language challenges.
- Globally Ranked Universities: Institutions like Trinity College Dublin, University College Dublin, and Dublin City University are known for academic excellence and innovation.
- Industry Links: Ireland is home to several global companies like Google, Facebook, Microsoft, and Pfizer. Indian students with an MBA in Ireland gain exposure to world-class opportunities.
- Work Opportunities: A two-year post-study work visa allows graduates to gain international experience before returning to India.
- Affordable Education: Compared to the US and the UK, the cost of studying in Ireland is relatively lower, making it attractive for Indian students.
Study in Ireland: Costs and ROI for Indian Students
Are you planning to study in Ireland? Study in Ireland cost is one of the most significant considerations for students and parents. While an MBA in the US can cost up to Rs 70 to 90 Lakh, an MBA in Ireland is much more affordable. Here is an overview of the cost of studying in Ireland:
Tuition Fees: €12,000 to €35,000 per year, depending on the university
Living Costs: Living costs may vary based on the city and your lifestyle. For instance, Dublin is the most expensive, while cities like Cork, Galway, and Limerick are slightly cheaper. Here is a brief idea:
- Accommodation: €500 to €1,200 per month
- Food & Groceries: €250 to €400 per month
- Transport: €100 to €150 per month
- Utilities & Internet: €60 to €100 per month
- Miscellaneous: €150 to €200 per month
Health Insurance: Health insurance is mandatory for international students planning to study in Ireland. The cost typically ranges from €500 to €700 per year.
Visa & Application Fees: The Student Visa Application fee is around €60. University Application Fee may range from €35 to €55 per application.
Part-Time Work Opportunities: Indian students can work up to 20 hours a week during their term time and 40 hours a week during holidays. Part-time jobs usually pay €10 to €12 per hour, which helps cover a significant portion of your living costs.
ROI (Return on Investment): While the total expense for an MBA in Ireland ranges from Rs 20 to 45 Lakh, the ROI it offers is strong. Once you complete your degree, you may get a job with a starting salary of €40,000 to €70,000 annually. When you return home, multinational companies in India highly value an international MBA and offer packages 30-40% higher than those for domestic MBA graduates. Besides that, you may land a job with a multinational firm and fetch a salary that far outweighs the education cost.
Benefits of Having a Foreign MBA in India’s Job Market
Pursuing an MBA in a foreign country enhances your career prospects in many ways. Some benefits include the following:
- Career Advancement: Indian companies value candidates with international degrees. That is because these graduates bring in global perspectives, adaptability, and fresh business strategies.
- Better Salary Packages: Foreign MBA graduates receive a 30 to 40% higher salary compared to those with domestic MBAs, particularly in MNCs and consulting firms.
- Entrepreneurship Opportunities: With a foreign MBA degree, you may also start your own ventures while leveraging the innovative mindset you gained through international exposure when studying abroad.
- Easy Recruitment: You may find recruitment in your preferred sectors, like consulting, IT, banking, and FMCG.
- Brand Value: An MBA degree from an international university adds value to your CV, giving you a long-term competitive advantage in the job market
- Soft Skills: Living abroad teaches independence, adaptability, and cross-cultural communication.
Conclusion
The value of a foreign MBA is undeniable for Indian students. From easy recruitment and higher salaries to long-term brand recognition, it proves to be a strategic investment in your career. Among other options, Ireland is a perfect study-abroad destination for Indian students, thanks to its quality education, lower costs, English education, and strong industry connections.
If you are considering an MBA in Ireland, NewStrides Consulting Pvt Ltd provides guidance on how to navigate applications for study in Ireland for Indian students. The expert’s advice can make all the difference in securing admissions to top Irish universities. From counselling and application support to visa guidance and financial planning, NewStrides is your trusted partner in achieving global education dreams.
Priya Kaur is an Assistant Vice President at NewStrides Consulting Pvt. Ltd. With over 18 years of experience in overseas education, she specializes in counseling students for UK and Ireland education. She has visited universities and explored these countries to provide prospective students with insightful guidance and accurate information to make informed decisions for their educational journeys. Her career reflects a commitment to excellence in consulting.
