Indian Vs Foreign B-Schools !!!!!

Note : I am an average Indian, who loves everything that is related to India, I may be an ignorant and emotional fool, so if you reading this post after this paragraph, do realize that you do it on your own risk. I will definitely be biased towards Indian B-schools and you are free to dis-agree, just don't hope that you will write anything you want and I will allow it to be published here or reply it.

Now lets start the review, with a few parameters listed below.
1.) Placements :

Instead of directly comparing the placement on basis of Dollars given to a person, the more appropriate way would probably be its comparison with the average salary of that particular country in which the college exists. This is because, like everything else, Income is relative and its importance can only be determined in relative terms.

Median Salary of a person in US = $32,140 // 46,716 GDP per capita.
Median Salary at Wharton : 145,000
Median Salary at Harvard : 130,000
Median Salary at Kellogg : 133,000

So, an average person from these colleges earns about 4-5 times that of an average US citizen.

Avg. Salary of a person in India = Rs. 37,490 // this is GDP per capita.
Median Salary in IIM A : Rs. 12,17,000
Median Salary in FMS : Rs. 11,47,000
Median Salary in XLRI : Rs. 12,12,000

So, an average person from these colleges earns about 30 times that of an average Indian citizen. Agree that the standard of living depends on other things like the city in which you live as well, but I leave that analysis to the reader.

2.) Peer group :

Now there are two factors to be considered here, i.) The quality of the pear group and ii.) the diversity.

As far as point (i) is to be considered, one can have 100's of examples where people who haven't been able to secure an admission into an IIM(or other institute of their choice), joined world's best Management Institutes like Wharton,Harvard or Kellogg. And though this proves no point but this surely indicates that the people getting admission in the best Indian Management Institutes are at par with the World's best if not more.

for point (ii.) An obvious answer to this point might be that "Indian B-Schools lag far behind their international counterparts in this respect". But I ask you to think a little on this point, its absolutely correct that the number of International students in Indian B-Schools is meager, but just think about the composition of an average class in an IIM, they have students from all over India, and India in itself has so much diversity that one should be able to learn a lot from it barring the international exposure.

3.) Faculty :

This is one point where I will give no data, and that is because of two reasons.
i.) Indian B-Schools lag far behind their foreign counterparts in this respect, so you may safely stop reading this post and go back.

and the actual reason.
ii.) I believe that teaching is one thing which is related more to passion and involvement than to degrees one owns and papers one has published. Though it is very much unlikely that too many of you will agree to this, but more often than not I have seen people who weren't very good in academics, didn't have flashy degrees were far better than those with degrees like Ph.D and a lot papers accredited to them, I won't use names but I have a lot many examples in my Institute (I am an undergraduate) and I am sure, you must have faced some similar examples.

And from what I've heard is faculty at most good Indian B-Schools is GREAT to say the least.

4.) Alumni :

This is one point where foreign B-Schools are heads and shoulders above their Indian Counterparts. But Indian B-schools are catching up, and this is strictly my opinion.

5.) Future Opportunities :

This is the most important point according to me, for any MBA aspirant, one has to decide various things such selecting the best B-schools depending on his/her priority and these priorities are subjective and depend on the individual's perspective.

When you are trying to get an job in India / Indian company, and IIM degree is almost unmatched while in US the same degree may have little value, and the ditto holds for the foreign degrees, not many foreign MBAs have succeeded in Indian/Asian markets.

If only aim of one's life is to earn more and more money, or he/she doesn't mind living abroad for the major part of his/her life, probably foreign MBA is a better choice for him/her.

But for people like me, who want to come back to the place they were born, and do something here, nothing beats an Indian MBA and if that's from a top-tier college its just plain awesome.

P.S -> I am not saying that I am in any way more patriotic than those who are settling abroad, its just that my way of thinking is a little different from theirs.

P.P.S -> I have no credentials to boast of(as of now), I am just an undergraduate student and a CAT aspirant, so you can very well dissect every-point that I made, and I would love to see if I can give a reply to that OR you might even be able to convince me to change my opinion BUT please try to be a little polite and courteous else don't be surprised if you can't see your comment published....