MBA degrees are among the most sought-after options for students who want to make it big in the job market. They are in demand for international students too, but you can expect to shell out a hefty sum to add the prestigious degree to your portfolio. Affordability is bound to be the top concern for study abroad aspirants because the cost of living abroad takes the overall expense a lot higher than you can imagine.
Fortunately, there are plenty of options apart from the top-of-the-line destinations like Harvard, Stanford, and Penn (Wharton School), where you can get your MBA degree without burning a hole in your wallet. Grad schools like Stanford will easily cost you around $74,706 per year, which is huge money for most students. It makes sense to discover alternatives that offer quality education on a budget. We have compiled a country-wise list for you.
GERMANY
Affordable international education is synonymous with Germany. It is one of the EU destinations known for offering quality education for free or at a very low cost. Tuition fees in public universities here are as low as €300 to €3000 per annum, and you can still expect top-notch standards.
MBA Cost- An MBA degree in Germany is comparatively affordable, so it works for students running tight on budget. You can start by exploring programmes at public universities that offer many of them for free. In private ones, the tuition fee for an MBA range from €19000 to €45000 in the country. It can vary depending on the institutes and programme you opt for.
Affordable Institutions
- Humboldt Universität zu Berlin– Free (public university)
- Berlin School of Economics & Law– €19800
- University of Hamburg– €19800-€30000
- Grenoble Ecole de Management– €31450
- Munich Business School– €32,000
Living Cost- €850 per month
THE NETHERLANDS
The Netherlands is one of the most preferred study destinations for international students as it offers a perfect blend of quality education, affordable costs, and warm culture. You can expect to study at considerably low tuition fees in Dutch universities, ranging between €6,000 and €20,000.
MBA Cost- If you plan to pursue MBA in the Netherlands, you will be happy to know that it is fairly affordable. Programmes start at €12,000 in affordable institutions, while high-end ones may charge up to €54,000, but you can choose wisely and cut your costs.
Affordable Institutions
- Saxion University of Applied Sciences– € 12,000
- The Hague University of Applied Sciences– €19.990
- Hanze University of Applied Sciences– €20,000
- Maastricht School of Management– €32500
- Amsterdam Business School– €39,900
Living Cost- €800 – €1,100 a month
FRANCE
France makes an excellent destination because opting for a public university entitles you to a waiver of two-thirds of the fees by the state. The study cost in France on an average is nearly €2770 to €3770 per annum.
MBA Cost- Even as study-abroad options in France are relatively affordable, you may have to spend a bit more on MBA. But you can settle for a low-cost university because you have a mix of affordable to expensive ones to explore. The cost of an MBA starts from €14930 and reaches a high of €89000.
Affordable Institutions
- The American Business School, Paris– €14930
- Paris School of Business– €17250
- Rennes School of Business– €20000
- Audencia Business School– €31,500
- Emlyon Business School – €38,500
Living Cost- €600 to €800 per month
CHINA
China (mainland) features next on the list of affordable MBA destinations to study abroad. As such, China attracts students from across the world because its affordable study cost and availability of over 40 globally ranked universities make it the best. International students can study here on the cheap, with the annual cost being as low as US$2000.
MBA Cost- Since China is a rapidly growing economy, getting an MBA degree from one of the universities here can do wonders for your career. MBA tuition fees in the country range from RMB 188,000 to RMB 438,000.
Affordable Institutions
- Zhejiang University– RMB120,000
- Peking University– RMB188,000
- Tsinghua University– RMB198,000
- Shanghai JiaoTong University– RMB308,000
- Peking University (BIMBA)– RMB368,000
Living Cost- US$740 – US$830 per month
CANADA
Canada is a world-leading destination for international students as it has an immigrant-friendly atmosphere, coupled with educational opportunities much cheaper than its next-door neighbour, the US. You can study here without spending a lot and enjoy an excellent quality of life. There are good chances to settle down permanently after completing the degree because immigration is easy for students. The approximate study cost here is CAD 1,800 – CAD 18,000 per year.
MBS Cost- Canada is a preferred MBA destination with its attractive post-study-work opportunity. You can secure your degree by spending a starting tuition cost of $ 40,000, which is much lesser than the American counterparts.
Affordable Institutions
- University of Northern British Columbia– $40,000
- Concordia University– $41,300
- St. Mary’s University– $42,000
- University of Saskatchewan– $47,883
- HEC Montreal– $49,000
Living Cost- CAD 12,000 per year
So here you are, with a comprehensive list of affordable MBA options around the world. Check them out and pick the one that suits you the best!
If you are considering studying abroad why don’t you discuss your prospects and opportunities with experts at Lurnable’s dedicated study abroad counselling division LurnPathways?
