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Cost of Studying an MBA Abroad

If you plan to go abroad and study an MBA, then you should read this article. It analyses the tuition fees and study costs for an MBA in popular universities.

Mahesh Ramani

An MBA degree from a reputed Business School looks good on the CV and also attracts potential employers with ease.

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The MBA is a degree that never goes out of fashion. An MBA degree from a reputed Business School looks good on the CV and also attracts potential employers with ease. Even during times of global economic crisis, an international MBA holds great value in countries like India, Malaysia and Singapore. Business Insider magazine published a list of the ‘World’s Top-25 Business Schools’ , which has been reproduced below.

 


When it comes to higher study options abroad, the MBA continues to be a preferred choice among Indian students. The USA continues to maintain its dominance and the Harvard University Business School remains the world’s most popular and top-ranked Business School. As per current fees, health insurance and accommodation charges it would cost U.S. $95,100 per yearto study an MBA at Harvard.
Let us examine how much it would cost to complete an MBA at leading universities around the world.


USA:

The costs vary based on the duration of the programme and the rankings and popularity of the university. For a full-time MBA, the average costs per year range from U.S. $35,000 to U.S. $96,000 per year. 

UK:

The London School of Economics offers Masters in Management programmes instead of a traditional MBA and these are ranked among the best in the world. This would cost around GBP 25,000 with additional costs for accommodation and food. 
The London Business School offers MBA programmes that range from 15 months to 21 months and the average fee is GBP 67,750. The average fee to study an MBA in the UK would range from GBP 15,000 to GBP 70,000. This is based on the duration of the course, brand value of the institutions and industry internship that is included within the programme. 

Australia:

The MBA offered by the Macquarie Graduate School of Management is ranked as Australia’s number one MBA and ranked within the Top-50 MBA programmes in the world. The programme is structured into course learning units, with each unit priced at $4,375.Students need to complete 16 units to receive the degree. This equates to $70,000 as programme fees with additional accommodation and food costs. Average cost to study an MBA in Australia ranges from $45,000 to $80,000.

New Zealand:

The MBA programme offered by the University of Auckland Business School is ranked as the best of its kind in New Zealand. It comprises two pathways that lead to the granting of the MBA degree. The pathways are priced at $27,252.00 (1-year duration) and $43,950.00 (2-year duration). On an average the cost of a full-time two-year MBA ranges from $40,000 to $50,000 in New Zealand. 

Malaysia and Singapore:                                        

Malaysia and Singapore are finding favour among Indian students with regard to the lesser fees and living costs and the proximity to India. An MBA in a leading Malaysian university would cost around RM 29,000 to RM 32,000. An MBA from the National University of Singapore will cost S$58,000 with another S$35,000 for food and accommodation costs. On an average an MBA in Singapore would cost between S$ 50,000 and S$60,000. 

Scholarships:

Most universities offer some kind of bursary or scholarship to meritorious students.If you are lucky enough to secure a scholarship, the fees might work out to be a bit lesser. With leading international universities setting up satellite campuses in India, Malaysia and Singapore, you now have the option to complete an accredited MBA programme at a significantly lower cost. 

Pick and Choose:

An MBA is not just a postgraduate programme; it is an investment in one’s future. With numerous study abroad MBA options available; the Indian student is spoilt for choice. You can search our comprehensive database of MBA programmes to find an option that matches your requirements and budget.  

We hope that you found this article on the cost-analysis of studying an international MBA programme useful. Please share your feedback in the ‘Comments’ section below.

Infographic credit: Business Insider.

Image credit: Gradschoolguru

 

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