Getting an MBA is a great choice, but the question to ask is, what are the most affordable places/countries to get an MBA? You have the top-of-the-line places like Penn (Wharton School) and Stanford, but the cost is a big deciding factor for many students. Tuitions fee for an MBA degree at grad schools like Stanford would cost an average of $74,706 per year [approximately ₹57,09,000].
So, here’s a list of global MBA institutes based on affordability. We’ve broken it down by country.
Favored by international students (and tourists) for its immigrant-friendly atmosphere, Canada is a booming global ed destination. Not only does it have a great quality of life, but it is also an affordable place to study. The approximate study cost in Canada is estimated at CAD 1,800 – CAD 18,000 per year.
Study Cost for MBA: Offering an attractive post-study-work opportunity, Canada is indeed an ideal option for those looking at a global end with the lens of career prospects. For a professional degree like an MBA, Canada is one place to start with.
Living Cost: Estimated at around CAD 12,000 per year [approximately ₹6,38,00] including accommodation.
Studying in the postcard-perfect landscaped country is as attractive as its affordable cost of education. Hosting some of the highest-ranked universities like the ETH Zurich (Swiss Federal Institute of Technology) and Ecole Polytechnique Fédérale de Lausanne (EPFL), Switzerland continues to be a hotspot for global ed seekers. Tuitions fees in Switzerland are set as low as CHF500 and CHF2,000 per semester.
Study Cost for MBA: The cost of study for an MBA compared to other degrees in Switzerland is found to be on the higher end, ranging from CHF 28’500 to as high as CHF 70’000. Let’s take a look at universities/institutes offering MBA at an affordable rate.
|Swiss Business School||Estimated at CHF 28’500 for full-time MBA (approximately ₹22,14,000)|
|IFM University||Estimated at CHF 33‘500 for full-time MBA (approximately ₹26,02,000)|
|Business and Hotel Management School||Estimated at CHF 37’500 for full-time MBA (dual) degree (approximately ₹29,13,000)|
|Geneva Business School||Estimated at CHF 38’850 for full-time (executive) MBA (approximately ₹30,18,000)|
|University of Geneva||Estimated at CHF 38’850 for full-time (executive) MBA (approximately ₹30,18,000)|
|University of St. Gallen||Estimated at CHF 45’000 for full-time MBA (approximately ₹34,95,000)|
Living Cost: Relatively high cost compared to its counterparts, it is estimated at CHF1850 per month including accommodation.
China (mainland) is also an attractive study destination with over 492,185 international students from 196 countries/areas in the country. China’s affordable study cost and being home to over 40 globally ranked universities are among the various other reasons for this rising popularity. Studying in China would cost as low as US$2000 per year [approximately ₹1,50,000].
Study Cost for MBA: With the fastest-growing major economy in the world, exploring the MBA degree in China will be a great decision. The tuition fee for MBA in China ranges from RMB 188,000 to RMB 438,000 (approximately ₹20,13,000 to ₹46,90,00).
Living Cost: Average of US$740 – US$830 per month for places like Beijing, Shanghai, Guangzhou [approximately ₹56,000 – ₹62,000]. Average of US$250 for other cities [approximately ₹19,000]
With an impressive total of all 7 Irish (public) universities globally ranked, Ireland has etched itself a place in the global ed market. Rated among the safest countries in the world with quality education, it has become widely popular among international students. The average cost of study in Ireland is estimated from €9,850 – €55,000, depending on the programmers and degree.
Study Cost for MBA: Known as ‘The Celtic Tiger’ with the highest economic growth rate in the EU, Ireland offers a unique learning environment. What can be better than learning MBA first-hand in this fast-growing economy? With a preference for institutes/universities offering affordable MBA degrees, you can start from here-
Living Cost: Estimated between €7,000 and €12,000 per year, including accommodation
One of the countries that come to mind when we talk about affordability is Germany. Tuition fees generally cost as low as €300 to €3000 per year [approximately₹25,000 to ₹2,50,000] in public universities.
Study Cost of MBA: Pursuing an MBA in Germany is also comparatively affordable. Apart from the public universities offering free tuition fee, the MBA tuition fee ranges from €19000 to €45000 depending on the type of institutes, programme. Here’s a look at a few of the top universities/institutes offering MBA in Germany, i.e.
|Humboldt Universität zu Berlin||Free Tuition fee except €300 as registration fee (approximately ₹25,000)|
|Berlin School of Economics & Law||Average of €19800 for Berlin MBA (approximately ₹16,35,000)|
|University of Hamburg||Ranges from €19800 to €30000 based on the type of MBA programmes chosen (approximately ₹16,35,000 to ₹24,77,000)|
|Grenoble Ecole de Management||€31450 for full-time MBA (approximately ₹25,97,000)|
|Munich Business School||€32,000 for full-time MBA (approximately ₹26,42,000)|
|HHL Leipzig Graduate School of Management||€38,000 for full-time MBA (approximately ₹31,37,000)|
|Frankfurt School of Finance & Management||€38,000 for full-time MBA (approximately ₹31,37,000)|
Living Cost: On average, the living cost is estimated at €850 per month with cost variance per city [approximately ₹70,000]
6. The Netherlands
A non-English speaking country where 95 per cent of locals speak English, Netherlands is a welcoming study destination for international students. But the bigger perk is that the tuition fees in Dutch universities are considerably low, falling between €6,000 and €20,000 [approximately ₹4,98,000 to ₹16,60,000].
Study Cost of MBA: Some higher education cost may be subsidised by the government, excluding some study programmes such as MBA. However, the tuition fee for an MBA degree in the Netherlands is fairly affordable – starting from €12,000 with exceptional few universities that charge up to €54,000 (approximately ₹9,91,000 to ₹44,59,000).
Here’s an overview of the cost of studying MBA in Dutch universities/institutes:
|Saxion University of Applied Sciences||€ 12,000 for full-time MBA (approximately ₹9,91,000)|
|The Hague University of Applied Sciences||Estimated at €19.990 for full-time MBA (approximately ₹16,50,000)|
|Hanze University of Applied Sciences||€20,000 for full-time MBA (approximately ₹16,51,000)|
|Maastricht School of Management||€32500 for full-time MBA (approximately ₹26,83,000)|
|Amsterdam Business School||€39,900 for full—time MBA (approximately ₹32,95,000)|
Living Cost: Estimated at an average of €800 – €1,100 a month, including accommodation [approximately ₹66,000 to ₹91,000]
Recommended Video: 10 Most Affordable Countries to Study Abroad – Study Abroad for Cheap
France is a great global ed destination because, if you enroll in a public university, the state waives off two-thirds of the fees. On average, the study cost in France is about €2770 to €3770 per year (approximately ₹2,30,000 to ₹3,30,000).
Study Cost of MBA: Specifically with an MBA, the cost is higher as compared to other degrees. France has a mix of affordable to expensive institutes offering an MBA, starting from €14930 to as high as €89000 (approximately ₹12,33,000; ₹73,49,000).
For our list today, let’s look at the affordable universities/institutes offering MBA in France.
|The American Business School, Paris||€14930 (approximately ₹12,33,000)|
|Paris School of Business||€17250 (approximately ₹14,24,000)|
|Rennes School of Business||€20000 for full-time MBA (approximately ₹16,51,000)|
|Audencia Business School||€31,500 for full-time MBA (approximately ₹27,00,000)|
|Emlyon Business School||€38,500 for Global MBA (approximately ₹31,79,000)|
|EDHEC Business School||€44,000 for Global MBA (approximately ₹36,33,000)|
Living Cost: Estimated at €600 to €800 per month, including the cost of food, transport & accommodation [approximately ₹49,000 to ₹66,000].
Malaysia is undoubtedly one of the cheapest countries to study abroad, particularly in terms of living costs. Its capital, Kuala Lumpur, came first for affordability in the QS Best Student Cities 2016, and most students will only need about MYR 14,400 (~US$3,550) per year to live comfortably in Malaysia. In terms of tuition fees, you’ll pay an average of US$4,000 per academic year, but some courses are even cheaper. Malaysia is also home to a number of branch campuses of international universities, such as the UK’s University of Nottingham or Australia’s Monash University, offering the opportunity to gain a degree accredited by these institutions at a lower cost.
Full of interesting and unique culture to explore, Mexico is one of Latin America’s most-visited nations and has lots to offer international students. Tuition fees vary, with private universities charging more and average around US$6,300 per year for international undergraduate students in the capital, Mexico City, which was named one of the world’s top 100 cities for students. Living expenses are also reasonably low in Mexico, with all living costs adding up to around US$9,250 on a standard budget in the capital or US$6,450 elsewhere. Although the main language of instruction is Spanish, Mexican universities are offering more English-taught courses to attract international students.
Although all of the Nordic countries are relatively affordable study destinations, Norway is our pick as it remains free for everyone, from both within and outside the EU, at public universities, with the exception of a few specialized programs. Europe’s Nordic countries are known for their high quality of life and stunning natural beauty, and Norway is no exception. Another reason to study in Norway is the availability of English-taught programs at all study levels, plus a high number of locals proficient in English. However, as with the other Nordic countries, Norway comes with a high price tag in terms of living costs; you’ll need around NOK 139,680 (~US$17,200) per year.
Taking up an MBA today prepares you well to join the competitive business world of today. From Finance Manager to Information Technology Manager, there are varied job opportunities that await you. Investing in yourself and your education is the best investment you will make.
We believe the information we have provided about each country will help you make a well-informed decision about choosing for your MBA studies.
Start your MBA journey today.