Even by the most conventional estimates, one must assume that a minimum expenditure for an MBA degree would cost you around Rs.10lakhs. This expenditure can go up to around Rs.30lakhs for the top US B-school. Financial aid is limited and comes with a lot of conditions attached. The question is given the exorbitant amount of money involved is it really worth spending so much?
The answer has to come from you. You must consider various factors involved in evaluating the scenario of abroad MBA. These factors must together effect your decision.
MONEY is, of course, the bottom line. You must start with the assumption that you are not going to get any scholarship, as getting financial aid for an MBA program is really tough. Then look at the resources at your disposal (could be your own bank account, or your parent's, or any benefactor you may have)
If you have sufficient funds (Rs. 10-15lakhs), our recommendation is: just go ahead. It’ll surely prove to be money well spent – the experience itself is great!
If you can spare some amount (Rs. 5-6lakhs), you could still consider going, as you'll be able to manage the first few semesters on your own. Once you're there, you'll have to find ways to raise some money (most Indian students manage this, at least the smart ones certainly do!)
If you are constrained on cash, but can manage a bank loan, it still makes sense to go ahead. However, you must be confident that you will do well in the program and manage to get a job. (Jobs are really hard to find in places like Australia and UK).
If you don't belong to any of the above categories, how about trying for an Indian MBA?
Hence, although a foreign MBA degree comes with a lot of investment, yet if you have invested it in a good school, you will recover the amount in a year.
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