MBA in Top Business Schools- MBA is, perhaps, one of the most widely pursued programmes by international students across the world. According to a survey by QS, 43% of the internationally bound students opt for FAME- Finance, Accounting, Business and Management subjects- annually, which make up the largest chunk. One of the major factors behind the popularity of MBA is the high return on investment promised to MBA graduates. In its yearly survey, Bloomberg has found that the median pay of MBA graduates who switched fields increased by almost $55,000, which means a massive 85% growth over their pre-MBA compensations.
However, given the fat pay packages MBA graduates receive, it is also one of the costliest programmes to pursue abroad with the average expenses going upwards $50,000 annually. Further, in education centres like the USA and UK, the cost can go upwards, $70,000. Before applying for a business school abroad, it is very important that you calculate the MBA fees in top business schools as against the packages promised. After all, an MBA degree is an investment of your future and the returns should compensate the investment you make on the programme.
Here we bring you the MBA fees of top business schools across the globe covering mainly 6 countries- the USA, UK, Canada, Australia, New Zealand and Singapore.
Read below to find out the cost of studying MBA in top business schools in the world:
The US has been, for a long time, the most sought after destination for MBA by students across the world. The country boasts of some of the best names for management studies like Harvard and Stanford. While graduating from any of the top business schools in the US does promise you a plump job with the best salary packages anywhere in the world, the cost of studying MBA in the USA could cost you a whopping $60,000 or more in just tuition fees.
MBA in Top Business Schools in USA- Tuition Fee
Approx Tuition fees (annual)
Stanford Graduate School of Business
Harvard Business School
Kellogg School of Management- Northwestern University
Booth School of Business -University of Chicago
Tuck School of Business- Dartmouth College
Australia has definitely been giving education giants like the US and UK some serious competition when it comes to attracting international students to its shore, especially for MBA studies. Though fewer in numbers compared to the US, Australia is home to many top ranked business schools in the world 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 MBA in Australia is, however, slightly lower than that of the US. On an average, the annual MBA fees in business schools in Australia is around $55,000.
MBA in Top Business Schools in Australia- Tuition Fee
Approx Total Tuition Fees(US$)
Melbourne Business School, The University of Melbourne
AGSM MBA, University of New South Wales
College of Business and Economics, Australian National University ANU
La Trobe Business School, La Trobe University
Monash Business School, Monash University
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 in almost all the major rankings of the world. A majority of the full-time MBA programmes in Canada are less than 2 years in duration which also explains their low fees compared to other countries. However, there are some wide variations within the MBA programmes offered in the country. Eg, MBA fees in Canada can go as low as around CAD$31,000 and as high as CAD $94,000.
MBA in Top Business Schools in Canada- Tuition Fee
Approx Total Tuition Fees(US$)
Rotman School of Management-University of Toronto
Ivey Business School- University of Western Ontario
Sauder School of Business-University of British Columbia
Desautels Faculty of Management- McGill University
Besides US, the United Kingdom is another destination which is the most sought after for management studies. In fact, a large number of international students both from EU and non EU countries flock to the country every year to enroll at UK universities. And why not? UK not only boasts of some of the grandest and oldest universities in the world, but also has some of the top business schools which offer quality education and promise some of the best packages for MBA graduates. Like the business schools in the US, UK, too, is an expensive destination for business studies with most schools charging upwards $70,000. The relieving factor here is that most of the business programmes are offered for 1 year.
MBA in Top Business Schools in UK- Tuition Fee
Approx Tuition fees(Â£)
London Business School
15 to 21 months
University of Cambridge: Judge
University of Oxford: SaÃ¯d
Imperial College Business School
Alliance Manchester Business School
Though in the nascent stage, New Zealand is steadily making its way up to the group of countries attracting the most number of international students. While a majority of the international students enrolled in New Zealand are engaged with Private Training Establishments (PTEs) and Polytechnics, a number of students have started to explore the business schools. Like Australia, New Zealand is one of those countries whose business schools give more weightage to work experience of students than the GMAT score. New Zealand’s business schools are comparatively cheaper to Australia and the US.
MBA in Top Business Schools in New Zealand- Tuition Fee
Approx Tuition fees
University of Auckland Business School - University of Auckland
Auckland University of Technology School of Business - Auckland University of Technology
University of Waikato Management School - University of Waikato
Massey College of Business - Massey University
Victoria University Faculty of Commerce and Administration - Victoria University of Wellington
Canterbury University College of Business and Economics - University of Canterbury
While countries like the USA and Australia have been tried and tested, a new breed of international students is exploring fresh destinations like Singapore to study MBA. And why not? Singapore boasts of some of the best names in management studies like INSEAD, National University of Singapore and Nanyang Technological University, to name a few. The best part is that the MBA structures in business schools have been developed on the western model. While still expensive, Singapore business schools charge comparatively lower tuition fees than business schools in the USA or Australia with the average tuition fee coming around $40,000.
MBA in Top Business Schools in Singapore- Tuition Fee
National University of Singapore(NUS)
Nanyang Technological University (NTU)
Singapore Management University (SMU)
Stay tuned to www.studyabroad.careers360.com for more news and updates on MBA abroad