If you do a quick Google search for ‘is an MBA worth it’, there will be a stack of articles pondering the value of completing a Master of Business Administration. However, many of these are pretty general, and often cater predominately to people based in the United States, or perhaps the United Kingdom, who are looking to study in their own backyard. Conversely, the emphasis here will be on prospective students in Australia who are looking to tackle their MBA abroad, and whether this course of action is worth the investment.
So, why would someone do an MBA in another country?
The obvious answer here is for the prestige of a select few business schools. When you hear someone has an MBA from Harvard, MIT or Wharton, the default reaction is to be impressed, perhaps even intimidated. There is no doubt that a degree from institutions with such a prestigious reputation holds significant weight, especially in the United States, but for someone planning to pursue business interests back in Australia, it might be worth saving quite a few pennies and studying an MBA Down Under.
Another advantage of studying an MBA abroad is simply the personal development acquired naturally through taking on such a challenging qualification in a foreign country, demonstrating ambition, resourcefulness and adaptability.
Whatever the cost
There’s no doubt money is one of, if not the largest factor when it comes to pursuing an MBA. Moving overseas is another financial burden on top of tuition, so it can limit some candidates, but it’s worth delving deeper into some of the other expenses, such as cost of living, rent, insurance and transport. It might cost more to move initially, but if these other aspects are more affordable, it might just turn out to be cheaper than doing the same thing at home.