Following the path of decision-making for the average student, we broke up the reasoning into five primary headers.

Cost

Scholarships for the few exceptionally talented aside, the primary barrier-to-entry will be cost. As a safe generalisation, an MBA education abroad will almost definitely cost more than an education in India. Beside the difference in the cost of fees, there is also boarding, food, travel, flights, visas, clothing that must be considered.

An Indian MBA can cost between 6 lakh to 15 lakh (barring a few like ISB that costs about 35 lakh). In contrast, an international 1-year MBA costs between 35 lakh to 80 lakh and a 2-year one costs over 1 crore INR.

Job Opportunities

As high as 70-80% of Indian candidates graduating from the top 30 US business schools end up getting a job in the US. The number goes down to about 50% for the best programs in other major countries such as the UK, Australia, Singapore and France. While your chances are high, a degree from a foreign university does not guarantee a job in that country. You must ensure that you have got into a good institute, kept your grades up, networked relentlessly and mastered local soft-skills to raise your chances significantly.

In the US, while OPT (Optional Practical Training) can still keep a graduate abroad for one or two years, it is not a guarantee as a gateway to a life-long career.

Networks

A foreign degree almost certainly gives you the networks to build a career across borders. In fact the cross-section of skills and citizenship in a typical b-school is enough to set up multiple cross-border businesses. The opportunity is unparalleled and extremely valuable for anyone that envisions a jet-set global footprint. An Indian b-school on the other hand will give you an India-centric network and will probably best for a localized career.

Content

The pool of content that an Indian b-school student versus a foreign b-school student is exposed to will be very different. Case studies, field visits, lecturer experiences, industry-events, local meet-ups are highly geographically dependent. For instance, people interested in IT and start-up culture should aim for an American west coast college. Students interested in manufacturing and sourcing can look at China or Korea. New York and London are unmatched for finance-related subjects. These examples are made possible because of the industries that surround the local institutes. Simply put, if you wish to specialise in a particular country, study in that country.

Social Life

Our Alum-n-I members tell us that most often, social groups tend to grow around nationalities because of language, food and festivals. However this is not mandatory and is often meant to be just a comfort zone when people are away from home. Beyond cultural links, social circles revolve can around personal interests-- be it watching sport, playing sport, music or theatre. Student towns usually have multiple options for all of such activities.

Choosing the location of your future b-school is one of the key forks-in-the road for your life. It will determine your future earnings, where you will live, your potential life partner and maybe where your children will be educated. So go ahead and choose wisely, taking these five points into consideration, to know what is most important to you.