Cover Story FIRST STEP
The Economics of an MBA
MBA is widely recognised as a passport to a successful career. It is imperative to choose the right course and institute, and finances play a pivotal role in selecting the tailor-made management degree. Radhika Arunkumar
O
nce you have zeroed in on the course of your choice, you need to take a look at the most significant aspect: How are you going to pay for it?
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MBA Abroad
While India is well-known to have some of the most prestigious business schools in the world, it might be worth your while to consider some of the overseas universities and business schools for your MBA. The reason for this is that they can often offer a more rounded or global business school experience, and equip you to be a
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more effective player on the global stage. One of the major drawbacks to studying your MBA abroad could well be the cost. While the cost of an MBA in India might seem high, it can be a lot higher if you are a foreign student in England or in the US. Higher tuition and living expenses can make pursuing an MBA abroad a financial nightmare. Here’s how to obtain the funds so you can sleep easy.
First Start
In most cases, the financial-aid process begins after you’ve been
accepted. But you should start your research (and when possible, fill out forms) as soon as you decide to apply. Some of the larger, wellestablished programmes have more funding available, or at least more programmes in place, to help students finance their MBAs. Begin with the Internet. International schools’ Web sites often have a wealth of information and applicants can frequent for valuable financial aid opportunities unique to their institutions. These sites usually have information about scholarships, fellowships, and grants available
Advanc’edge MBA April 2012
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