02 Jul 2022 | Affordable Destinations to Study MBA Abroad
Are you aware that some of the topmost paying jobs worldwide are sales managers, marketing managers, and business operation managers? You can land these high-paying jobs once you finish your MBA degree from a prestigious institute. Around the world, more than a quarter of a million students pursue MBA degrees, and it is one of the highest courses in demand by students.
The approximate cost of studying MBA abroad can be anywhere between 55,700 USD to 161,800 USD which is quite expensive for many students. Finding an affordable MBA abroad in a reputed institute is a big challenge for most students. If you want to get admission into top-notch MBA colleges like Stanford or Harvard, then you either need to get a student loan or a scholarship. Both of these options are not always easy to obtain.
We are here to help you zero down on the MBA college and county of your choice with information on some of the cheapest and most quality MBA colleges abroad. We will not just list down the countries but also let you know which are the best colleges and how much funding would you need to study and live in that country.
Why Select MBA Abroad for Higher Education?
Pursuing an MBA abroad is highly beneficial in many ways. You get to study from the best minds, have the best curriculum, and get a high investment return. A low-cost MBA will save you from draining your bank account and land you a high-paying job.
- Impressive job pay package - The average pay package of people who finish their MBA from abroad is generally higher than those who go to B-School in India. Hence a low-cost MBA for Indian students proves to be highly advantageous monetarily.
- Networking - You get global exposure while doing an MBA abroad, which will allow you to interact and network with students from across the globe. It also offers you professional network-building opportunities.
- Learn new-age tactics - If you choose to study MBA abroad, it gives you an edge over others in terms of teaching you dynamic business management techniques.
- Holistic personal development - You get a deep understanding of the business world and gain detailed insights when you pursue MBA abroad.
Some of the Best and Cheapest MBA Abroad Options
Now that you can find multiple reasons to study MBA abroad, we will get into the details of various countries and universities to consider for high quality and low-cost education. While selecting the university and country, you must ensure you get a low cost of living and low tuition and accommodation fees.
Canada is a favorite amongst tourists as well as students as it is an immigrant-friendly environment. Canada has emerged as a booming global education destination owing to its excellent quality of life and affordable places to study. You need to spend approximately 30,435 to 31,856 CAD annually, equivalent to 18,00,000 to 19,00,000 INR. The cost of living comes to around 12,000 CAD per year (around 7,0000). Some of the best universities to opt for in Canada are:
- University of Toronto
- University of British Columbia
- Western university
- University of Alberta
- University of Montreal
- York university
- Simon Fraser university
- McGill University
- University of Waterloo
- University of Calgary
The picture-perfect landscapes of the country are as attractive as its low-cost education. Switzerland hosts some of the highest-ranking universities like EPFL(Ecole Polytechnique Fédérale de Lausanne) and ETH Zurich (Swiss Federal Institute of Technology.) Global ed seekers flock to Switzerland as it has tuition fees as low as CHF 500 to CHF 2000 per semester (comes to around 39,000 to 1,56,000 INR). The annual tuition fees would come to around 28,500 to 70,000 CHF. The best places for MBA in Switzerland are:
- Swiss Federal Institute of Technology
- The University of St. Gallen.
- University of Zurich
- University of Lausanne
- American University in Switzerland
- EU Business school
- IMD business school
- Geneva business school
- Rushford business school
- GSEM (Université de Genève – Geneva School of Economics and Management)
China is another education hotspot, with as many as 492,185 international students from 196 countries studying here. China is home to more than 40 globally ranked universities and offers extremely affordable study costs. You would spend as low as 2000 USD per year when you choose to study in China (around 1,50,000 INR.) China is one of the fastest-growing major economies globally; hence exploring MBA in China is a wise decision. The annual tuition fees in China are anywhere between 188,000 RMB to 438,000 RMB, and the cost of living per year is about 2,553 RMB. So if China is your place of choice, look into the following universities for a world-class MBA degree:
- Peking university
- Tsinghua university
- Shanghai Jiao Tong University
- The Southwestern University of Finance and Economics China
- Renmin University of China
- Shanghai University of Finance
- Zhejiang University
- Fudan University
- Xiamen University
- Sun Yat-sen University
Ireland has rightfully etched itself a high place in the global ed market with its 7 Irish public universities bagging global ranks. Ireland is considered one of the safest countries in the world and also boasts of quality education. It is fast becoming a favorite among international students. Another popular name for Ireland is "The Celtic Tiger," as it has the highest economic growth in the EU. Ireland is a place with a unique learning experience that is also cheap. Financial Times and The Economist rated Ireland's UCD's Michael Smurfit Business School amongst the top hundred B-schools globally. The average cost of an MBA in Ireland is between 8000 to 30,000 Euros annually, and the cost of living ranges between 7,000 to 12,000 Euros per year. Let us see which universities are the best choice for MBA in Ireland:
- University College Dublin
- Trinity College Dublin
- University College Cork
- University of Limerick
- Dublin City University
- Dublin Institute of Technology
- Irish Management Institute
- National University of Ireland
- Griffith College Dublin
- IBAT College Dublin
If MBA interests you, then doing it study abroad will be the most beneficial decision in terms of ROI. If finances are an issue, then look through some of the universities mentioned in this article which will surely fit your budget and fulfill your need for a quality MBA degree.