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Definition of a Non-Resident Indian (N.R.I)
( NRI Management Quota Admission in Top MBA Colleges )
An Indian Citizen who stays abroad for employment/carrying on business or vocation outside India or stays abroad under circumstances indicating an intention for an uncertain duration of stay abroad is a non-resident. (Persons posted in U.N. Organisations and Officials deputed abroad by Central/State Governments and Public Sector undertakings on temporary assignments are also treated as non-residents). Non –Resident foreign citizens of Indian Origin are treated on par with non-resident Indian Citizens (N.R.Is) for the purpose of certain facilities.
Main categories of N.R.Is
( NRI Management Quota Admission in Top MBA Colleges )
- Indian citizens who stay abroad for employment or for carrying on a business or Vocation or any other purpose in circumstances indicating an indefinite period of stay abroad.
- Indian citizens working abroad on assignment with foreign government agencies like the United Nations Organisation (UNO), including its affiliates, International Monetary Fund (IMF), World Bank, etc.
What is the value of a foreign M.B.A in India?
International business schools proudly display statistics about high M.B.A salaries in the USA and success stories of career changers who managed to change their role, industry, or geography after completing their M.B.A abroad. However, as with most statistics-driven marketing campaigns, the 3-D pie-charts in the M.B.A placement report often reveal only half of the story.
( NRI Management Quota Admission in Top MBA Colleges ) If an estimated 30% of the students in a graduating M.B.A class managed a complete career change (new role + new industry + new country), guess what happened to the remaining 70%. Maybe some managed a partial career change (like a new role in the same industry, but paying in dollars/pounds).
What about the rest who were forced to return home? What was the value of a foreign M.B.A in Indian for them? For many Indian students studying (M.B.A, MS) in the USA or any other foreign country, the secret desire is to be lucky enough to fall in the first category. But competing with statistics, probability, and the formidable H1B visa application process is never easy.
( NRI Management Quota Admission in Top MBA Colleges ) With a heavy heart, those who haven’t been able to get a good job abroad, start thinking about returning to India after completing an M.B.A in the USA / Canada / UK / Singapore. That’s when a new set of questions start popping up in their mind. Let’s look at some of those, ordered by diminishing levels of optimism.
N.R.I (Self) Category/N.R.I Sponsored Category
(A) Eligibility:
(a) For N.R.I (Self)
- The candidate must have passed the qualifying examination with 60% aggregate marks from abroad.
- The age of the candidates shall be not more than 20 years as of 1st July of the year of entrance.
- The candidate will have to produce an equivalence certificate of qualifying examination from the Association of Indian Universities (AIU), New Delhi. ( NRI Management Quota Admission in Top MBA Colleges )
b) For N.R.I Sponsored
- Candidates should have passed the Higher Secondary Certificate (HSC) Examination (10+2) or any other equivalent examination recognized with a minimum of 60% aggregate marks with English as one of the subjects.
- The age of the candidates shall be not more than 20 years as of 1st July of the year of entrance.
- The candidate must have passed the qualifying examination in India and must have appeared in UGAT-2018.
Indian M.B.A vs US M.B.A: Which is More Value for Money?
( NRI Management Quota Admission in Top MBA Colleges )
Foreign M.B.A: An M.B.A from a foreign university is very helpful in understanding business from an international perspective. This is very advantageous if you want to work abroad after graduation. ( NRI Management Quota Admission in Top MBA Colleges ) Most foreign b-schools tend to have a large diversity in their student class so you benefit from understanding different cultural viewpoints and perspectives. Foreign M.B.A institutes will also have better infrastructure and better professors. The post-degree pay package of the US or European M.B.A will be higher than an Indian M.B.A because of the currency difference. However, a foreign M.B.A is also more expensive and it may take more time to recover the fees of the business degree, especially if you are opting for a US M.B.A. More importantly, the Indian market functions very differently than the US and European markets, hence the things you will learn in a foreign B-School will be less applicable to India. Hence, if you want to work in India after your M.B.A, a foreign M.B.A is less preferable.
Indian M.B.A
An Indian M.B.A will help you gain business-related knowledge pertinent to the Indian market. An Indian M.B.A will be significantly cheaper and you will be able to pay back your student loan much faster. If you wish to work in India after your degree, this is preferred from both pieces of knowledge as well as economic perspectives. Around 70% of the curriculum in an Indian M.B.A degree course will be common to its foreign counterparts, however, the way the curriculum is delivered and the facilities to support learning will be below par (unless you are at one of the IIMs). The post-degree salary of an Indian M.B.A will be lower than a US M.B.A. Also, if you wish to work abroad, an Indian M.B.A will be disadvantageous since they would prefer students from their own B-Schools.
Also, Check this: Management Quota or NRI Quota for MBA in SIBM Pune
Ranked 1-20 M.B.A Colleges of India with N.R.I seat
( NRI Management Quota Admission in Top MBA Colleges )
- Xavier’s Labour Relations Institute, Jamshedpur
- Faculty of Management Studies, Delhi
- SP Jain Institute of Management and Research, Mumbai
- National Institute of Industrial Engineering, Mumbai
- Jamnalal Bajaj Institute of Management Studies, Mumbai
- Indian Institute of Foreign Trade
- Management Development Institute, Gurgaon
- Shailesh J. Mehta School of Management, IIT Bombay
- Tata Institute of Social Sciences, Mumbai
- Narsee Monjee Institute of Management Studies, Mumbai
- Symbiosis Institute of Business Management, Pune
- Institute of Management Technology, Ghaziabad
- Symbiosis Centre for Management and Human Resource Development, Pune
- International Management Institute, Delhi
- Xavier Institute of Management, Bhubaneswar
- Goa Institute of Management, Goa
- Institute of Rural Management, Anand
- KJ Somaiya Institute of Management Studies and Research, Mumbai
- Mudra Institute of Communication, Ahmedabad
- TA Pai Management Institute, Manipal