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Out of all study programs, MBA is a favorite course among Indian student community. Given the prospects of a rewarding career after mba in iim and other premium institutions; many candidates are treading the path of management studies. However, before making headway in this direction by considering this critical life altering move, take a pause and get down to calculate the opportunity cost of pursuing MBA in India.

MBA financeAsk yourself if MBA is financially worth?

Bear in mind that pursuing an MBA from best institutions in India has its share of financial burdens on the individuals and their respective families. This clearly implies that one cannot afford to overlook the importance of financial costs while considering the prospects of studying MBA program from a leading MBA school.

What is the opportunity cost for doing an MBA?

a.)Tuition fee takes the major chunk of your financial resources

The first and foremost to cast a huge impact on your financial resources is tuition fee and cost of living while doing an MBA degree. A two-year residential MBA program at one of the best b-schools in India will cost anywhere from 10-15 lakh.

You can always count on the education loans available from various Indian banks. However, you must weigh your existing financial condition before going for loan of such mammoth amount at 10.5 to 12% floating rate of interest. Banks on their part will also ensure if an individual is in a position to repay the loan by sealing the contract with collateral security and other mandatory modalities.

12-3-2014-What is the opportunity cost for doing an MBA in India-What is the opportunity cost for doing an MBAb.)Cost of application forms

Let’s now come to the lesser amount, but significant one when it comes to calculating the opportunity cost of studying MBA program at the top MBA College in India. The application fee for CAT exam, which is the doorway for prestigious iim colleges in india, is approximately Rs 1600. If you want to apply to other business schools accepting CAT acores, then be ready to part away with the cost of their separate application forms, which is anywhere from Rs 1500-2500. Now, let’s get to the closer understanding of taking the GMAT exam. If you want to take the GMAT once, then you will have to spend US $250. Add to this US $28, the cost of sending additional score report to each business school.

c.)Save a portion for preparatory classes

With the country youth vying to enter the gates of a prestigious MBA school to pass out and land a job in top global brands, the number of coaching classes has also sprung up exponentially. For a written entrance exam, be ready to shell a minimum of Rs 25,000 for good coaching centers. If you are lucky to have cleared the entrance exam, add similar amount to be giving away at the coaching centre for the interview and essay writing preparation.

d.) Giving up your career for MBA?

If you are already settled in a career before taking up MBA course, you have a lot of brainstorming to do to calculate opportunity cost. You must take into consideration the forgone salary, possibilities of a promotion, and years of professional experience you are going to forsake for MBA degree from top colleges in India.

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10 responses to “What is opportunity cost of doing MBA in India?”

  1. Shagun K says:

    thanks for your guidance…it was very informative…:)

  2. Gargi Patil says:

    The concept Opportunity cost should be considered by every student at time of MBA application.

    Thanks, the content is very good.

  3. Vihaan Gadre says:

    Found good and useful content on this website. In this article I found the point:Tuition fee takes the major chunk of your financial resources very interesting and important. Fees are the major part of MBA admission. Student needs to to calculate the fees that is charged.

  4. Arrav Pathak says:

    The cost is one factor that student keeps on calculating..this article article gives actual info on how to look opportunity cost before deciding to study MBA course.

  5. Anchita says:

    I really feel that if a student gets this concept properly.. then he will be able to work on with salary to repay that.

  6. Brijraj says:

    thanks for your guidance…it was very informative…:)

  7. Nitesh Chaudhary says:

    The article seems to be helpful as the important information of opportunity cost is covered.

  8. Alisha says:

    the article here seems to be very good and interesting. It is interesting to see that these topics are covered to make students understand the opportunity cost concept

  9. Aashi Komor says:

    After reading this article I found that there are 2-3 point important. This article is covering all the points that are necessary to understand the concept Opportunity cost.

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