MBA Destinations: A Changing Trend

So you’ve finally taken the decision to pursue an MBA but don’t know where to go? Karan Teckchandani explores two upcoming countries for postgraduate business students

Over the last 12 months, the Indian rupee has been on a rollercoaster ride in terms of its valuation against the US dollar and the British pound. Many Indian students have been second-guessing the need to pursue an undergraduate or postgraduate degree in a foreign country. However, the pros outweigh the cons in most cases concerning studying abroad, especially when it comes to MBA  programmes. A few years ago,  USA and UK were the go-to countries for any  MBA student, but strict visa regulations, weakening job markets and opportunities in other parts of the world changed this trend. Nowadays, students flock to countries like Spain, France, Australia, Canada and Singapore due to relative ease of migratory procedures, job opportunities and a globally acknowledged degree.

SINGAPORE
Singapore is on the way to becoming a ‘Global Powerhouse’ in education, offering a diverse and distinctive mix of education in a global, cosmopolitan and comfortable environment. Singapore is the premier education hub in Asia. Striving for excellence, Singapore offers a broad base curriculum and global perspective to equip students with the relevant qualifications and training that serves as a springboard to a brighter future. The island’s strong reputation for quality education has drawn the world’s top institutions to set up campuses in Singapore.

Reasons to consider Singapore for your MBA

HUB OF EDUCATION EXCELLENCE
Singapore offers students an international perspective and diversity of options. In an environment that is inspiring and encouraging to education, Singapore provides high quality of teaching and research. More than 16 leading foreign universities have also set up centres of excellence in education and research in
Singapore. Quality private education organisations add further diversity to the nation’s education landscape.

AFFORDABLE QUALITY EDUCATION
Tuition fees are affordable and the cost of living in Singapore is still significantly lower than of many developed countries. With Singapore’s tradition of meritocracy, talented students who need financial assistance can find the help they need in form of scholarships, bursaries and study loans, work-study arrangements, paid internships etc.

ACCESSIBILITY
Singapore is well connected via sea, air and telecommunications to all parts of the world. It is fairly close to India encouraging students to visit home during every academic break. Also for those seeking to travel during vacations it is close to business powerhouses such as Malaysia, Hong Kong and China.

GLOBAL BUSINESS HUB
Singapore is consistently acknowledged to be a global business hub with its developed infrastructure, political stability and open business policy. More than 7000 multinational corporations (MNC) alongside 1,00,000 small and medium enterprises (SME) have set up their base in Singapore, with many choosing Singapore as their regional hub and launch pad to dynamic markets of Asia. Singapore offers limitless career and networking possibilities to global citizens keen to apply their talents to the opportunities that can be found there.

VIBRANT AND COSMOPOLITAN LIFESTYLE
Singapore may seem like a small dot on the world map, but the island state bustles all over with attractions and activities. The nation’s rich multicultural heritage is highlighted through the various ethnic groups (Chinese, Malays, Indians, Eurasians) living together harmoniously. Singapore’s high standard of living is also something that students can be assured of.
Canada plays host to more than 180,000 international students in any given year. Increasingly, Canada is becoming the country of choice for students from all parts of the world for their bachelor, master or doctoral degrees.

CANADA
Reasons to consider Canada for your MBA

QUALITY EDUCATION
Canada spends more per capita on its education system than any other country in the Organization for Economic Cooperation and Development (OECD). A degree/diploma from a Canadian institute is recognised worldwide.

 

INEXPENSIVE
Canadian institutes charge lower tuition fees for international students than their counterparts in competing countries, and at the same time, maintain excellent educational quality. However as the fees are more affordable, admissions are more competitive. Over the last three years, Canada’s inflation rate has remained one of the lowest in the industrialised world.

PERMANENT RESIDENCY AND CANADIAN IMMIGRATION
International students can apply for their permanent residency which takes up to 15 to 18 months from within Canada. However, they need to meet the minimum eligibility criteria of 67 points.

RANKED AS THE NUMBER ONE COUNTRY
Canada has often been featured as the country with the highest standards of  living in various rankings through the last decade. Canada earns particularly high marks for its access to education, high life expectancy and low crime rates.

SAFETY
Every step is taken to ensure the safety of students within Canada’s campuses. Most universities/colleges have their own campus security 24 hours a day. There are also ‘Walk Safe’ programmes to assist people in getting to public transportation during late hours.

A BILINGUAL NATION
Canada is a bilingual country with two official languages – English and French. The vast majority (75%) of Canada’s French-speaking inhabitants live in the province of Quebec, which is located in the eastern part of the country, but there are French-speaking communities throughout the country. English is the main language of communication in all provinces other than Quebec.

WORK AND STUDY
Students in Canada are allowed to work part time on-campus during the first 6 months of their programme and off-campus part-time thereafter. The duration permitted is up to 20 hours per week. Several programmes may even have a paid co-op term where one gets hands-on experience in working in the industry. These may even be paid co-ops. Further, students on the completion of their programme of a year can work up to a year and students applying for two years programme can work for two to three years.

EASY I MMIGRATION
Canada welcomes over 2 lakh immigrants per year and has a policy for skilled professionals as well as business immigrants. Canada has maintained a strong, stable economic growth because of its active immigration policy. Canadian immigration is one of the simplest immigration systems in comparison with other countries. It allows a person to live and work anywhere in Canada, and confers upon that person a permanent resident status. It comes with certain responsibilities and may be revoked if the holder does not meet Canadian residency obligations, or is found guilty of serious criminal activity. A person who is a Canadian permanent resident may apply for Canadian citizenship after 3 years.

SINGAPORE

SCHOOLS
•    NUS Business School
•    Nanyang Business School
•    University of Chicago’s Booth School of Business
•    SP Jain School of Global Management
•    INSEAD, Singapore Campus

DOCUMENTS FOR VISA
•    Acceptance letter from the university
•    Application on the SOLAR system
•    $30 Application fee

ENTRANCE TESTS
•    GMAT/GRE (only accepted in select institutions)
•    TOEFL/IELTS

ELIGIBILITY
•    Bachelor degree in any field
•    Relevant work experience

POPULAR FIELDS OF MBA IN SINGAPORE
•    Finance
•    Logistics
•    Engineering management
•    Marketing

MBA JOB MARKET IN CANADA
Canada currently ranks third in the list of top MBA job markets in the world based on cost of living and purchasing power. The average compensation for an MBA graduate in Canada is estimated at 91,600 USD. The demand for MBA graduates is expected to rise by 16% because of hiring trends by big companies recovering from the dip in the economy.

CANADA

SCHOOLS
•    McGill University
•    University of Toronto
•    University of Western Ontario
•    Carleton University
•    York University

DOCUMENTS FOR VISA
•    Proof of acceptance
•    Proof of identity
•    Proof of financial support
•    Letter of explanation

ENTRANCE TESTS
•    GMAT/GRE
•    TOEFL/I ELTS

ELIGIBILITY
•    Bachelor degree and relevant work experience

POPULAR FIELDS OF MBA IN CANADA
•    Finance
•    Marketing
•    Accounting
•    IT management
•    Management information systems

 

Volume 3 Issue 8