An MBA degree can ensure a lucrative overseas posting. Nunzio Quacquarelli compares the different study abroad programs and finds out which country has the best to offer

Statistics show that working overseas has become a popular choice with MBA alumni. In 2001, of the 780 students who graduated from Harvard, over 100 got jobs in London. Of the 250 overseas students in the same class, over half stayed back to work in the US. At London Business School (LBS), "...almost the entire class choose to work outside their home country, and with 80 per cent non-UK students, London remains their top choice," according to Julia Tyler, Director, MBA Program, LBS.

Making it easier for applicants are MBA recruiting companies who are willing to pay for the cost of obtaining a work permit for bright young MBAs to work in their overseas offices. Jayne Pellatt, an MBA recruiter from AT Kearney confirms, "We always seem to obtain work permits. We have not had anybody turned down, but then we are very stringent in our own selection criteria."

When compared to other foreign destinations, the UK has become a bright prospect for MBA holders who have two means by which they can obtain a visa in the country. Firstly, as mentioned above, a new employer can apply for a work permit, which would last for five years. Secondly an MBA can apply for the "Highly Skilled Migrant Program" permit (HSMPP), introduced by the UK Government in 2002. The HSMPP is allocated by the Home Office to anyone achieving 75 points on a scale based on qualifications, work experience and specialist skills.

The benefit of this work permit is that it is personal and does not need to be sponsored by an employer. Julia Tyler at the London Business School says, "This is a big step forward for our international students looking to work in the UK, particularly with small and medium-sized enterprises which are not used to applying for work permits on behalf of employees." Laura Devine, Head of the Immigration Team at Eversheds, a leading law firm,says,"Today, overseas students can obtain a work permit more easily in the UK than in any other European country or in the US." British business schools accept over 4000 overseas MBA students every year.

In contrast, post 9/11, the US has tightened its visa policy for both, students and employees. For starters, there has been a definite increase in the number of rejections amongst applicants from the Middle Eastern countries, China and India for the J1 student visa. Students who do complete their MBA in the US, and wish to continue living and working in the US, must find an employing company to sponsor an H1 visa, or obtain a Green Card to stay permanently. However, since October 2003, the US Government has reduced the number of H1 visas from 195,000 per annum to 65,000 per annum. Nonetheless, a qualification such as an MBA can only provide students with an extra edge necessary in such a competitive environment.

Australia and New Zealand have also become attractive destinations for many MBAs seeking to move country. Though both countries have extremely strict immigration procedures, they are keen to attract international MBA students. Thomas
Shroeder at Melbourne Business School highlights the fact that MBA graduates have the right to stay on and work in Australia for at least twelve months after their MBA. Once regular employment is found, it is unusual for Australian immigration to then turn down an application from an MBA. In New Zealand, Lynette Muter, International Director at the University of Waikato points out that, any MBA with a job offer will automatically be given a visa to stay and work in the country, which will often lead to full citizenship.

As governments around the world recognize the importance of postgraduate education and offering 'MBA-friendly' visas, perhaps an MBA is becoming a passport to working overseas.