International MBA - Some frequently asked questions

More and more students are now interested in pursuing an international MBA degree. In this article we will answer some of the most frequently asked questions about an international MBA degree.

Who should pursue an MBA?

MBA is more suited to students who are looking to switch career or become an entrepreneur. Masters and PHD qualifications suit those looking to start higher up in their chosen career.

Work experience

Most business schools expect their students to have some work experience. Although, schools may differ in their exact requirement, three to four years is the average work experience. It is not necessary that you should have work experience in management; it can be from almost any background or industry.

What is the actual cost of pursuing an MBA abroad?

The cost of pursuing an MBA abroad is really high, but it doesn’t mean that only the incredibly wealthy can afford it. There are numerous opportunities to fund MBAs, including loans and scholarships.

Where should I pursue my international degree?

It depends upon your interests, skills and specializations. Before you choose any country think hard about your personal aims and ambitions and then research schools on an individual basis. No country is right or wrong.

Funding your studies

Funding opportunities vary from country to country. Tuition fee is obviously the greatest cost of pursuing an MBA abroad. Other expenses that need to be taken into account are travel, accommodation, living and compensating for time away from employment. While applying, students should spend time searching for scholarships and fellowships. The sources of funding varies from country to country, so there is no centralized process to apply for outside scholarships and many of these can only be obtained while the student is in their home country. Waiting until an admission decision is received may leave too little time to identify outside sources of funding.

What sources of financial aid are available to post graduate students?

One possible source of funding is YOU. Post graduate studies are often taken after being in employment for a few years. While you are in employment, try to save up some money for your studies.

Every institution offers them. You only need to contact the relevant department.

Many institutions allow post graduate students to be a teaching assistant or research assistant. As a research/teaching assistant you can work up to 20 hours per week. Many countries, including Australia and Canada, allow international students to work up to 20 hours per week during their studies.

Many banks offer interest-free loans to students throughout their studies.

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