The cost of pursuing an MBA program in an international university is one of the biggest drawbacks for study abroad students. Add to that, the more prestigious the University the more money students have to pay in tuition and other fees.
Only if they have access to a comprehensive scholarship or adequate financing options, study abroad students must forgo their dreams of doing their MBA in these prestigious schools.
For instance, tuition is as high as $142,000 for the privilege of doing an MBA at the Wharton School of Business of the University of Pennsylvania. And to be fair to them, they have a long list of prospective students aching to get in in spite of the high tuition.
Low tuition, high-quality MBA possible
There is a moral question to some of these high tuition MBA programs. For instance, do these business schools offer something quite different from others who charge far lower?
Most of the time, students attending these schools are paying that high because of the brand. These schools have a lot of pedigree behind them which translates into prestige for the graduates.
However, there are many very good international universities around the world offering quality MBA programs at a fraction of the cost charged by the so-called prestigious business schools. And if your primary aim is to get good value for your limited funds, these comparatively low tuition MBA programs give better value pound for pound.
Listed below is a list of some very quality MBA programs around the world and their tuition. The list comprised of Universities which charge less than $70,000 dollars for the duration of the program.
List of quality, Low Tuition MBA around the world less than $70,000
|1||IIM Bangalore (IIMB) EPGP, India||$35,980|
|2||IIM Ahmedabad (IIMA) PGPX, Iran||$36,252|
|3||Erasmus University-Rotterdam School of Management(RSM), Holland||$36,935|
|4||University College Dublin – Smurfit Graduate Business School, Ireland||$37,482|
|5||Nanyang Business School (NTU), Singapore||$38,261|
|6||University of Mannheim-Mannheim Business School, Germany||$39,106|
|7||Indian School of Business (ISB), India||$39,950|
|8||ESMT – European School of Management and Technology, Germany||$41,276|
|9||National University of Singapore (NUS), Singapore||$43,103|
|10||UBC’s Sauder School of Business, Canada||$47,724|
|11||University of Bath School of Management, England||$48,637|
|12||Cambridge Judge Business School, England||$49,000|
|13||SDA Bocconi, Italy||$52,148|
|14||Cranfield University, England||$53,059|
|15||City University-Cass Business School, England||$58,217|
|16||University of Melbourne- Melbourne Business School, Australia||$59,370|
|17||China Europe International Business School (CEIBS), China||$59,844|
|18||HEC – Paris, France||$62,000|
|19||Alliance Manchester Business School, England||$64,575|
|20||ESADE Business School,Spain||$64,824|
|21||CUHK Business School, Hong Kong||$65,842|
|22||University of Hong Kong Faculty of Business and Economics, Hong kong||$66,190|
|23||IE Business School, Spain||$67,232|
|24||University of Illinois at Urbana-Champaign, America||$69,244|
|25||HKUST (The Hong Kong University of Science and Technology), Hong Kong||$69,900|
Note: the tuition fees are subject to change at any time.
Analysis of duration of the programs
Not all the programs on the list are of the same duration. Some of the MBA programs have a duration of two years. However, most programs in the UK, Europe, and Asia are mostly one-year programs.
The implication of this is clear: students going to these 2-year MBA programs would have to pay tuition two times. This sort of disqualifies them from the list as in reality, it costs more than $70,000 to get an MBA.
However, in the context of annual tuition, they have gained the right to be on the list.
So when it comes to selecting colleges, you might take that into consideration. Also to be considered is the living cost of the city. Because a city with high cost of living can ultimately cancel out the advantages of paying low tuition.
And since the tuition is subject to change every year, it would be smart to verify the current tuition before making a final decision.
All international universities are only too willing to give out that information. At the same time, getting the tuition information for some schools is as easy as checking their websites.
Keep in mind that the above list is likely to have missed out many quality universities with tuition lower than $70,000. If you know of any, let us know about them in the comments section so we can update the list.