Why Americans Are Going Abroad for an M.B.A.

Discussion in 'Business and MBA degrees' started by major56, Sep 29, 2015.

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  1. major56

    major56 Active Member

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    Shorter programs, lower tuitions in Europe lure U.S. students
    Why Americans Are Going Abroad for an M.B.A. - WSJ

    For those without access … here’s the WSJ article:

    By Lindsay Gellman
    WSJ Updated Sept. 2, 2015 7:04 p.m. ET

    Propelled in part by a strong U.S. dollar, more U.S. students are heading across the pond for a business degree.

    U.S. students are applying to elite European programs like Insead Business School in France and the University of Oxford’s Saïd Business School, and are making up a growing proportion of incoming M.B.A. classes at those schools.

    American business students have been eyeing the Continent of late. The share of U.S. citizens who indicated they would prefer to earn an M.B.A. in Europe rose to 3.2% last year from 2.1% in 2010, according to surveys by the Graduate Management Admission Council, which tracks business-school applications. European programs reported seeing a greater proportion of applications from U.S. students last year, 5.1%, than in 2012 at 4.3%, according to GMAC.

    For some students, European programs, which are often conducted in English, seem to be a better deal than U.S. programs, allowing them to get their M.B.A. in about a year, compared with U.S. full-time programs, which are typically two years. That means lower tuition, and it reduces the cost of leaving the workforce, students, admissions officers and consultants say.

    The U.S. dollar’s strength against the euro in recent months has underscored this return on investment, school officials said. What’s more, as corporate recruiters seek globally minded hires, students say a European degree looks increasingly attractive.
    ‘We definitely look for people who’ve had international experience either from their M.B.A. or through career experience.’

    —Delia Garced, a global director at General Electric

    “We definitely look for people who’ve had international experience either from their M.B.A. or through career experience,” said Delia Garced, global director of General Electric Co.’s program for experienced commercial hires. “Having people who understand how to do business in a growth country and work with a variety of different cultures” is “part of our DNA,” she said.

    Tuition and fees at elite American M.B.A. programs can top $200,000; selective European programs typically cost half as much. Some foreign institutions have sought approval to allow American students to finance their education through U.S. financial aid, according to those schools.

    Reasonable tuition—about $30,000—helped Patrick Lowry decide on the 15-month M.B.A. program at the Frankfurt School of Finance & Management.
    “That’s less than half of anything I would pay for a respectable program in the U.S.,” he said. Mr. Lowry, a 26-year-old University of Delaware graduate, received a tuition break from the school for committing early and was able to take advantage of U.S. student loans.

    For U.S. applicants, the allure of European M.B.A. programs is “more about program length than it is about tuition cost,” said Matt Symonds, director of Fortuna Admissions, an admissions-consulting firm. His clients have grown more reluctant to forgo more than a year’s worth of pay to earn a business degree.
    Shorter options are also drawing interest from women planning both family and a challenging career, admissions consultants said.

    “Ten months is an adequate amount of time to get hard skills and leadership skills without having to necessarily completely rethink your career trajectory,” said Belinda Navi, 28 and an incoming M.B.A. at Insead. Ms. Navi plans to return to the videogame industry after the business school’s 10-month program, and hopes to vault from a business-development role into management.

    Last year, Philadelphia-based Fortuna received about 400 online inquiries from U.S. candidates, of whom 18% included European schools among their choices, Mr. Symonds said. The first half of this year has seen nearly 300 inquiries from U.S. students, he said, as well as a 50% jump in candidates indicating interest in European schools.

    “People see their careers evolving very quickly” and so are embracing one-year programs, said Dana Brown, M.B.A. director at Saïd.

    During the 2008-2009 admissions cycle, Saïd received 122 U.S. applications to its M.B.A. program, or 12.4% of total applications. For the class starting this fall, the program received 189 U.S. applications, constituting 15.7% of its pool.

    At the IESE Business School in Barcelona, the share of U.S. applicants in the pool has risen from 13% in 2012 to 16% this cycle, according to the school. The Cambridge Judge Business School in the U.K., and HEC Paris in France, also said they have received more U.S. applications in the past three to five years.

    HEC expects U.S. applications to keep rolling in; for the coming cycle, the school said it has received 15% more GMAT scores from Americans than in the previous three years.

    With multinational employers placing a premium on a candidate’s global experience, the international nature of a European school’s student population is a draw, too.

    International students account for 34% of Harvard Business School’s M.B.A. class and 44% of Stanford University’s Graduate School of Business M.B.A. class, while IESE’s M.B.A. class is 80% international, and Saïd boasts 95% international M.B.A. students.

    “The top U.S. b-schools are quite international, but not to the same extent that Insead is,” said Ms. Navi, the incoming Insead student, who also applied to U.S. programs. Ninety nationalities are represented in the M.B.A. class, according to the school.
     
  2. FTFaculty

    FTFaculty Member

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    Makes perfect sense: an MBA from Oxford or Cambridge in one year for about $70 to $80K over an MBA from Wharton or Harvard for almost twice as much both in terms of time and money.
     
  3. Neuhaus

    Neuhaus Active Member

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    Beyond cost and time I think it's also worth looking at the impact of a foreign MBA in an increasingly global economy.

    We've discussed the "utility" of a British degree in the U.S. as well as some of the potential drawbacks.

    But a UK or Australian degree would likely be well received in Canada. And a Canadian degree would likely be well received in the UK.

    I'll admit that I periodically entertain the notion of moving out of the U.S. I've lived in Europe. But I have also traveled extensively in Canada. And there's a part of me that thinks living in either Australia or New Zealand would not only be very cool but would be an amazing opportunity for my kids.

    For me, my company has tentacles that extend into all of these places. So the possibility exists that I could bounce to a far flung subsidiary or affiliate company with relative ease. Even a 1-3 year hitch overseas would be fun. And it would potentially give me the edge I needed for a permanent move if that was what I wanted in the future.

    I really consider that my next degree will be my last degree. Sure, I could knock out a cheap Masters or Doctorate at ACE. I could knock out a very cheap and very self-paced MBA at William Loveland (DEAC). Or I could step outside of my comfort zone a bit and get a degree that, in the U.S., will have absolutely no worse name recognition than the typical unknown university in the states that gives me the added bonus of actual name recognition in a place where I might consider moving in the future.
     
  4. Koolcypher

    Koolcypher Member

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    That is exactly what I did and I do not regret it one bit. Two years ago I decided to make the move to Nicaragua, and things have worked out quite well. I can now add international experience to my resume, and the people I've met have been amazing. My son is also enjoying his time outside the U.S. and it does give him an edge on college applications. It sure gives you a whole new perspective. Having said that, moving outside the U.S. is not always an easy thing to do. In my case my employer asked me if I wanted to move here, and I spoke the language (I'm fluent in Spanish--read, write, and speak-- and can hold my own in French and Portuguese). If you are lucky to work for an international company that can, and is willing to give you the opportunity to move and work outside the U.S., take the plunge. Sure there are times that I miss the U.S., especially during college football season, I also miss some of the holidays from back home, 4th of July and Halloween come to mind. However, the U.S. embassy here in Managua does an amazing job in reaching out to the small ex-pat community that lives and works in Nicaragua. And when we meet is always fun to talk about home. :yup:

    I say if you have the chance and the opportunity, do it. A whole new world awaits.
     
    Last edited by a moderator: Oct 16, 2015
  5. Kizmet

    Kizmet Moderator

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  6. Johann

    Johann Active Member

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    DOBA says it has proper accreditation in Slovenia. From the site:

    "The International Management master's programme has been accredited by the
    Slovenian Council for Higher Education. The list of all accredited higher education
    institutions and programmes in Slovenia can be found on the website of the Slovenian
    Quality Assurance Agency for Higher Education. An online master’s degree is
    equivalent to face–to-face degrees."

    Looks like a quality outfit - and it appears that entry isn't all that easy. (That's a GOOD sign!) Also does business in Kenya, Uganda, Rwanda and Tanzania. India as well. News article on site about DOBA's accreditation in Kenya, recognition in Germany, etc. But nowhere could I find what these degrees cost - except that the application fee is 110 Euros and non-refundable. Maybe you have to contact them for tuition info. The Master's is not an MBA - It's a Master of Business Sciences - International Business Management. Nothing wrong with that - just thought people should know, in case it makes a difference.

    Can't determine the value without knowing the cost.

    J.
     
    Last edited by a moderator: Oct 17, 2015
  7. saharapost

    saharapost Member

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    For the2015/16 academic year, the masters costs 4,400 Euro per academic year - Tuition Fee and Payment Options » DOBA Faculty of Applied Business and Social Studies Maribor


     

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