{"id":33802,"date":"2016-07-20T11:54:49","date_gmt":"2016-07-20T18:54:49","guid":{"rendered":"https:\/\/gmatclub.com\/blog\/?p=33802"},"modified":"2016-07-27T15:33:19","modified_gmt":"2016-07-27T22:33:19","slug":"why-study-abroad-for-your-mba-at-all","status":"publish","type":"post","link":"https:\/\/gmatclub.com\/blog\/why-study-abroad-for-your-mba-at-all\/","title":{"rendered":"Why Study Abroad for Your MBA at All?"},"content":{"rendered":"

<\/a><\/p>\n

Given the sheer number of elite MBA programmes in the United States, it\u2019s hardly surprising that a lower percentage of Americans look overseas for graduate business courses than those in other parts of the world. <\/span><\/p>\n

According to the <\/span>GMAC 2015 Prospective Student Survey Report<\/span><\/a>, only 17 percent of American MBA applicants plan to submit applications for international programmes. 93 percent submit applications for programmes in the United States. The only other region or country to report more intended domestic applications than foreign ones is Canada with 46 percent of prospective students applying outside of the country. <\/span><\/p>\n

The numbers get a little murky inside of the European Union, where students may change countries but have virtually the same rights as domestic candidates. But even then over 50 percent of applicants send materials abroad. <\/span><\/p>\n

Everywhere else in the world reports a higher percentage of international applications compared to domestic school submissions. At the very least, this should tell you that a significant number of MBA hopefuls <\/span>consider<\/span><\/i> international programmes \u2013 and, indeed, <\/span>international graduate student numbers are on the rise<\/span><\/a>. <\/span><\/p>\n

But why?<\/span><\/p>\n

MBA Candidates Have Different Reasons for Studying Abroad<\/b><\/p>\n

No one chooses to go to business school for a <\/span>single<\/span><\/i> reason. There are always multiple factors at play, even though there may be some overpowering ones. According to <\/span>INSEAD\u2019s 2015 Employment Statistics Report<\/span><\/a>, a whopping 80 percent of graduates changed their sector, function, or country post-graduation (and 26 percent changed all three). <\/span><\/p>\n

The GMAC survey demonstrates the primary reasons why MBA candidates opt for international study. According to their results, <\/span><\/p>\n

\u2022 60 percent want an international career,
\n<\/span>\u2022\u00a049 percent want and international network, and
\n<\/span>\u2022\u00a036 percent want to study in a country with English language instruction. <\/span><\/p>\n

Of course, that \u201cinternational career\u201d category may be largely built on students that apply to American<\/a>, English, or Swiss schools because that\u2019s where they want to be after graduation. It doesn\u2019t have to be about securing a job that demands international travel or opens opportunities to relocate every couple of years. <\/span><\/p>\n

Post-Graduation Salaries for MBA Candidates<\/b><\/p>\n

Still, it can be argued that salary increases are one of the driving factors for choosing an MBA at all \u2013 and it almost goes without saying that the more elite the programme, the higher the post-salaries to be claimed. <\/span><\/p>\n

It\u2019s therefore almost a necessity for candidates from some areas to travel abroad to complete their studies. And it\u2019s the number of students looking at international universities that may drive some of the beliefs regarding salary increases. <\/span><\/p>\n

Although the numbers a few years old<\/span>,<\/span> a Business Insider<\/em> article<\/span><\/a> demonstrates the salary expectations of MBA graduates. In 2013, South African MBA candidates expected to increase the current \u201caverage\u201d salary of US $32,000 by 387 percent to $122,000. (And that reflects a decrease from the previous year\u2019s expectation of $162,000.) Those figures are certainly in line with the median salaries reported by <\/span>Harvard Business School graduates<\/span><\/a>, but it\u2019s important to keep in mind that many of their grads remain in the United States post-graduation. For those that return to South Africa, it\u2019s more likely that the figures reported by INSEAD of roughly US $75,625 (as a median in 2015) are more accurate. <\/span><\/p>\n

That said, the <\/span>Financial Times<\/span><\/a><\/em> reports an average increase in salary from the University of Cape Town\u2019s Graduate School of Business (UCT GSB) at 68 percent with a current average salary of US $138,466. Those are certainly big numbers, no matter how you slice it. <\/span><\/p>\n

Of course you can argue that UCT GSB is the <\/span>only<\/span><\/i> African school to crack the FT\u2019s top-100 full-time MBA list. South American and Eastern Europe have equally low numbers of highly-ranked schools. It all boils down to the fact that many MBA hopefuls find it almost essential to travel \u2013 and even those that aren\u2019t \u201cforced,\u201d find the extreme benefits of international graduate studies something they just can\u2019t imagine doing without.<\/span><\/p>\n

\"Prodigy<\/a>\u00a0Katie Schenk studied human rights and graduated with a bachelor's degree from Kent State University while working with NGOs in Geneva. Although she has since settled in South Africa, with work towards a master's in forced migration thought the University of Witswatersrand, nothing stops her from being a proud American. Katie has been part of the Prodigy Finance<\/span><\/a>\u00a0<\/span>team as a content specialist since 2013. She also loves rugby, sloppy Mexican food and Tudor history, which means you could find her in any section of a bookstore.<\/i><\/p>\n

\"PF<\/a><\/p>\n

Related Resources:<\/strong><\/p>\n

\u2022\u00a0International Student Loans with Community-Based Financing<\/a>
\n\u2022\u00a0Making International Student Loans a Prime Investment<\/a>, a podcast episode
\n\u2022\u00a03 Long Term Tips For Financing Your MBA Abroad<\/a><\/p>\n

* This blog post is sponsored by our friends at Prodigy Finance<\/em><\/p>\n

This article<\/a> originally appeared on\u00a0<\/em>blog.accepted.com<\/a>.<\/em><\/p>\n

Applying to a top b-school? The talented folks at Accepted have helped hundreds of applicants get accepted to their dream programs. Whether you are figuring out where apply, writing your application essays, or prepping for your interviews, we are just a call (or click) away.<\/p>\n

Contact us, and get matched up with the consultant who will help\u00a0you\u00a0<\/em>get accepted<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

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