If the statistics marketed by the Top business schools in the world and management education articles are to be believed. A foreign MBA should be a career/life-changing event. And graduating with a foreign MBA will open new doors in the job market. Are all these claims true?
Well! The answer is both yes and no.
This dreamland is true for a section of MBA candidates that graduate every year. These candidates are able to tap into creamy layer job opportunities. And are also able to leverage their skills to shift their careers or industries in the US or European countries. There is also another section of graduates who do partially — change either their job profile in the same industry. Or stick to the same job profile in a different industry.
However, what these glossy articles and advertisements don’t reveal is that there is a considerable number of international students who don’t make it to this dreamland and probably have to return to their countries. Especially with increasing H1B visa restrictions with the day, Indian MBA graduates are now actively considering job opportunities in India. This trend gives way to new questions — how are Indian companies accepting or paying these foreign MBA graduates. Or Would your compensation in India be justified after getting an MBA from abroad? This blog tries to profoundly answer these questions and more.
How well is a foreign MBA valued in the Indian job market?
You might be asking this question. If you have tried out all your employment options for a job overseas without much success. In this scenario when you have exhausted all your resources; looking at coming back to India could be a viable path for you.
Moreover, even in the uncertain pandemic time; The economy and the job market in India is much better than in the US and European nations. In the Indian job market; you need to face the competition of top MBA graduates for all the jobs that require an MBA qualification. Though your foreign MBA can set you apart in certain aspects. The brand name of your abroad MBA will also play a great role in this. If you have graduated from a well-renowned university. And it has a strong name in the industry you are aspiring to join your chances would be better.
For instance; The MBA Marketing program Kellogg School of Management (Northwestern University) is considered one of the best in the world. If you have a Marketing degree from this school, you would definitely get an edge over others in Indian companies.
On the other hand, such instant recognition is not enjoyed by all global schools. Even if you graduate from one of the top-ranked MBA schools, it would not guarantee you an advantage. The HR professional in India might not be tracking these rankings closely. And their perception would be established highly on which school gets more limelight in the media.
However, there is no reason to get absolutely disappointed. You can save the day by simply packing your qualifications in a better way. How you present you aboard educational experience in your profile and your interview will matter the most.
The tough dilemma; To go for an old job profile or industry overseas or get a new role or industry in India
If you have this choice, you are one of the fortunate Indian students aboard. This is a good problem to have. To resolve this confusion, you need to revisit why you wanted to do MBA in the first place. Was it to enter a new industry or have a career progression in the same industry? Do you still feel strongly about this reason or do you think you can forego it after your MBA experience?
If you introspect correctly with the above questions and answer them honestly; you will arrive at a logical decision for your career. The money would also be a fundamental factor in making this decision. Especially, if you have sourced your education through finances or loans. It becomes even more important to consider while making this decision. A job abroad would pay you more money and help you fulfill your financial liabilities sooner.
What salary can foreign MBA graduates expect in India?
Salary is a key differentiator in making this decision. While applying for jobs in India, you would mostly be competing with the Indian graduates here and their average salaries. To start calculating, you can keep out the IIM graduates with no prior work experience. And consider the ones with 5 to 6 years of experience. You would be mostly competing with this group of MBA graduates. For instance; at ISB the average salary of the MBA graduates with 5 to 6 years prior experience is 18 lakhs. This is a good benchmark or reference point to have. However, make sure you don’t compare the salary with your overseas counterparts. You will only feel let down if you weigh your salary against similar candidates working overseas. The fair thing to do would be to see how you do in comparison with Indian MBA graduates.
Take all these above factors into considerations. Before you make the decision about applying for jobs either in India or overseas.