MBA has been and continues to be the most popular course. One of the primary reasons for this is that it opens up many career opportunities that pay well and has enormous growth and development opportunities. Many people who want to run a family business or go in the business line take an MBA as a course as it provides practical skills that help run a business. So it’s essential to choose the right place for pursuing an MBA degree.
However, it is also one of the costliest programmes to pursue abroad. So before applying for a business school abroad, you must calculate the MBA fees in top business schools worldwide and choose wisely.
Here we will discuss the cost of studying MBA in top business schools around the globe:
MBA fees in the USA
The USA is the most chosen destination by international students who aspire to pursue MBA abroad. The country has some of the best business schools like Harvard and Stanford. MBA in the country is for two years and include an internship during the summer months, which helps in providing students with great exposure and experience. The US is a hub of many multinational companies and businesses, allowing students to find a job there. While graduating from such reputed business schools provides you with tremendous opportunities, studying MBA in the USA could cost you a lot considering the living expenses and tuition fees of an MBA abroad.
|University||Duration||Approximate tuition fees|
|Stanford Graduate School of Business||21 months||$65,000|
|Tuck School of Business – Dartmouth College||24 months||$65,000|
|Booth School of Business – University of Chicago||21 months||$65,000|
|Kellogg School of Management – Northwestern University||24 months||$65,000|
|Harvard Business School||24 months||$60,000|
MBA Fees in the UK
Besides the US, UK is one of the top destination countries for international students. When it comes to the banking sector, the UK is one of the leading nations and the top MBA graduates worldwide are recruited by top banks in the United Kingdom. MBA programs offered in the UK come with multiple internship programs that are aimed to make the students industry-ready by providing practical exposure. Like the business schools in the US, UK, too, is an expensive destination for business studies, with most schools charging upwards of $70,000.
|University||Duration||Approximate tuition Fees (EURO)|
|London Business School||15 to 21 months||10,200|
|Alliance Manchester Business School||18 months||60,000|
|Imperial College Business School||One year||65,000|
|University of Oxford||One year||72,000|
|University of Cambridge||One year||70,000|
MBA Fees in Canada
Canada is again a popular destination to explore both education and work opportunities. The country boasts of a list of quality business schools like Rotman School of Management and Ivey Business School, which feature almost all the world’s significant rankings. A majority of the full-time MBA programmes in Canada are less than two years in duration which also explains their low fees compared to other countries.
|University||Duration||Approximate tuition fees|
|Ivey Business School – University of Western Ontario||Two years||$66,000|
|Desautels Faculty of Management – McGill University||20 months||$28,000(annual)|
|Sauder School of Business – University of British Columbia||16 months||$46,000|
|Rotman School of Management – University of Toronto||Two years||$37,000(annual)|
|HEC Montréal||One year||$23,000|
MBA Fees in Australia
Australia is home to many top-ranked business schools globally, like the Melbourne Business School and the Sydney Business School. While Australia is considered to be one of the costliest study destinations for international students, the cost of studying for an MBA in Australia is, however, slightly lower than that of the US. On average, the annual MBA fees in business schools in Australia are around $55,000.
|University||Duration||Approximately tuition Fees|
|La Trobe Business School, La Trobe University||1.5 year||$35,000|
|College of Business and Economics, Australian National University ANU||Two years||$55,000 (annual)|
|Melbourne Business School, The University of Melbourne||I year||$57,000|
|AGSM MBA, University of New South Wales||16 months||$55,000|
MBA Fees in Singapore
Singapore has most of the business location in the country and is home to companies including DBS Bank and Singapore Airlines. Singapore is the first Asian country to make a list due to its growing infrastructure and economy. Some universities allow students to work for 16-18 hours a week and have pretty flexible norms to pursue the degree. It has some of the best schools in management studies like INSEAD, the National University of Singapore and Nanyang Technological University. Moreover, Singapore business schools charge comparatively lower tuition fees than business schools in the USA or Australia, with the average tuition fees of an MBA abroad coming around $40,000.
|University||Duration||Approximately tuition fees|
|National University of Singapore (NUS)||17 months||$ 43,000|
|INSEAD||Ten months||$ 77,000|
|Nanyang Technological University (NTU)||12 months||$ 38,000|
|Singapore Management University (SMU)||12 months||$ 43,000|
1. Can I get scholarships to pursue MBA Abroad?
Yes, you can apply for a scholarship to study MBA abroad. There are various scholarships available such as Kellogg Scholarship, B.K Birla MBA scholarship etc. With good academic performance, you could apply for these scholarships, and they are available for both Indian and international students.
2. What is the cost to study MBA Abroad for Indian Students?
The average cost for an Indian student could range from INR 40 to 90 LPA. However, this range may vary according to the country, university and program you choose.