Plan for International Business Career
If you’re an MBA applicant who has spent most of your life in the U.S. but your goal is to become an executive in a global corporation, it’s important to choose a business school that will broaden your horizons, MBA admissions experts say. This may mean pursuing a b-school overseas.
“One of the most important aspects for MBA admissions, especially in Europe, is if the degree is going to provide a useful network in an area and a sector that the applicant wishes to work,” Kevin Newton, founder of An Education Abroad admissions consulting firm, said via email.
Here are 10 things experts say you need to know about MBA programs abroad.
1. A foreign MBA is usually cheaper.
Experts say top-tier MBA programs outside the U.S. often have a much lower sticker price than similarly prestigious U.S. programs, but one key caveat is that these programs tend to give less financial aid to low-income students.
Jordan Hendricks, a U.S. citizen who earned her MBA at Northern Ireland’s Queen’s University Belfast, told U.S. News via email that her MBA degree cost approximately $20,000, and she estimates that the degree would cost double or triple that amount if it came from a U.S. school.
2. Foreign MBAs may only last a year.
One key difference between U.S. and non-U.S. MBA programs, experts say, is that international programs are usually shorter, lasting only a year.
“This can mean more time earning a salary rather than paying tuition,” Newton said.
3. One-year MBAs can be overwhelming.
Earning an MBA in a single year is very hard, though, experts warn.
Alex Min, CEO of The MBA Exchange admissions consulting firm, said via email that although an accelerated MBA program costs less in terms of both time and money than a traditional MBA program, the downside is a demanding schedule that doesn’t allow for as many networking opportunities. Another disadvantage of this type of MBA program, he says, is the lack of a summer break that can be used for an internship.
4. U.S. jobs may be harder to secure.
Experts note that foreign MBA programs often have less name recognition inside the U.S. than domestic MBA programs.
One important exception to this rule, experts say, is when foreign MBA programs are based at well-known global universities with stellar academic reputations.
Min said one significant disadvantage of attending an international b-school is that it reduces the opportunity to network with U.S. business professionals and explore U.S. companies.
5. These programs can increase international job options.
U.S. residents who earn MBA degrees in another nation typically have an easier time breaking into that nation’s job market, experts suggest.
“If your professional aspirations include globe-trotting and working in international locations, it makes sense to either study in the region where you hope to one day work or among an ultra-diverse cohort of students who can help you land that coveted position in Paris, Hong Kong or Dubai,” U.S. News contributor and admissions consultant Stacy Blackman wrote in a recent blog post on the Strictly Business blog.
6. U.S. applicants are eagerly accepted.
Experts say that, because prestigious international business schools want to enroll more Americans than they currently have on campus, U.S. applicants often get into elite MBA programs at global universities more easily than at similarly prestigious U.S. programs.
Kaneisha Grayson, founder of The Art of Applying admissions consulting firm, told U.S. News in 2015 that American MBA applicants often have an easier time selling themselves to international schools than domestic schools, since the admissions process at U.S. b-schools is so fiercely competitive.
7. Foreign b-schools favor work experience.
Experts say international MBA programs tend to prefer MBA applicants who are already established in their career. “Students at business schools outside of the U.S. tend to be in their late 20s or early 30s,” Blackman wrote.
Rachel Beck, a senior consultant at the mbaMission admissions consulting firm, told U.S. News in 2014 that European business schools tend to be especially welcoming of older applicants with a significant amount of work experience.
8. Adjusting to a new country can be difficult.
Min of The MBA Exchange says U.S. residents who attend foreign business schools may find it difficult to adjust to their host nation.
“US MBA students attending non-US b-schools will experience some degree of culture shock from being, possibly for the first time in their lives, part of an under-represented minority,” Min said via email.
9. You can build an international network.
Because MBA programs at global universities tend to include students of diverse nationalities, experts say that these programs are a great choice for U.S. residents who want international business contacts.
“That’s very attractive to people,” Matt Symonds, co-founder and director of the Fortuna Admissions consulting group, told U.S. News in 2014. “That gives them a network from all over the world.”
10. You can develop cross-cultural leadership skills.
Experts say one advantage of attending business school on foreign soil is that it forces you out of your comfort zone.
“It gives the students a much broader perspective in terms of cross-cultural management and understanding how different cultures face problems in different ways,” Itziar de Ros, director of MBA Admissions with IESE Business School at the University of Navarra in Spain, told U.S. News via email in 2015. “Learning a new language is also an advantage which not only enriches them professionally but personally.”
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More from U.S. News
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10 Things to Know About MBA Programs Outside the U.S. originally appeared on usnews.com
