An MBA from a B-School is one of the most widely pursued programs by students internationally. According to the survey by QS, 43% of the students opt for Business management subjects annually which make up for the biggest group. If you are planning to do an MBA and would like to know about affordable business schools around the world then this article will definitely give an insight into it. The main reason for heavy attention and popularity of MBA is the high return on investment promised to the graduates. A yearly survey by Bloomberg has found that the average pay of MBA graduates, who changed their fields, has been increased by massive 85% over their pre-MBA earnings.
However, given the high compensation MBA graduates receive, it is one of the costliest programs to pursue abroad. In the educational centers like USA and UK, the cost can go upwards. While applying for a business school abroad, it is very important that you calculate the MBA fees in top business schools as against the MBA salary expected in those fields. After all, an MBA degree is an investment in your future and returns should compensate the investment you put into the programs. Money should be a factor when selecting a degree of any kind. After you figure out what you want to do , you will be dedicating yourself to this for at least two years, so you might want to make sure it's what you want to do.
Does it really mean that higher the fees you pay, the better the takeaway? According to me, well not really. In fact, it's the other way around. It's also a fact that not everyone can make it to these popular MBA programs, and obviously, not all the students internationally can afford to pay such a huge amount, as the total expenses like living expenses, health insurance, travel books, international trips etc. add up making them more expensive making it important have the idea of affordable business schools around the world. However, there are many B-Schools that have very good quality of education and reputation for its international degree and also are affordable business schools.
Here is the list of affordable business schools with nearly similar standard as other B-Schools:
Located in Ahmedabad, India and established in 1961 IIM-Ahmedabad (IIMA) is ranked as one of the leading business schools in India and the Asia-Pacific region. It offers a number of Executive Training Programmes, Post Graduate Diploma Programmes in Management and Agri-Business Management and a Fellowship Programme. More than 110 companies participated in IIMA placements 2016-16.
IIMA PGPX 2017-18, a one-year Post-Graduate Programme in Management for Executives applications are open now. For applications, you can visit this link http://www.iimahd.ernet.in/pgpx/register.php.
IIMA fees - $36,252
ISB (Indian School of Business)
ISB is located in Hyderabad, India and was founded in 2001. It is ranked 29th in the world in the 2016 Financial Times Global MBA Rankings. ISB offers different courses like Post-Graduate Programme in Management (PGP), Management Programme for Family Business (MFAB), Young Leaders' Programme (YLP) etc. and is one of the affordable business schools around the world. ISB Hyderabad placements for 2016 showed an increase in demand from recruiters for Post Graduate Programme. ISB Hyderabad rankings were 29 in 2016 and 33 in 2015.
ISB Hyderabad fees - $39,950
Nanyang Business School (NTU)
It is located in Singapore and has one of the highly ranked MBA Programmes in the world. Being established in 1981, it offers undergraduate and postgraduate programs. NTU is one of the oldest and the largest business schools in Singapore with over 6,800 students pursuing post graduation and under graduation. The NTU MBA is an intensive global MBA and is one of the top-ranked MBA programs. NTU Singapore ranking was 13 in the world by the QS World University Rankings 2015/16.
NTU Singapore tuition fees - $38,261.
ESMT-European School Of Management Technology
ESMT is located in Berlin, Germany and was founded in 2002 by 25 global companies like BOSCH, Siemens etc. European School Of Management Technology offers an Executive MBA, Masters in Management. The European School Of Management Technology MBA is a one-year, full-time MBA program and focuses on leadership development and international management. ESMT offers scholarships based on merit and has coveted Triple accreditation.
European School of Management and Technology MBA fees - $41,276.
National University of Singapore (NUS)
Located in Singapore and founded in 1905, National University of Singapore ranking is one of Asia’s top university by Quaquarelli Symonds University Rankings in 2015 and 2016. National University of Singapore(NUS) offers BBA, MBA courses, Executive MBA, MSc and Ph.D. programs and comes under the top 10 affordable business schools list. The National University of Singapore MBA is a one-year program and is ranked as 7th in the world by Forbes Global MBA in 2015.
National University of Singapore fees - $43,103.
University of British Columbia-Sauder School of Business
It is located in Vancouver, Canada, founded in 1956 and is ranked among the top 100 business schools by The Economist and the Financial Times. It offers programs like MBA, International Masters of Business Administration (IMBA) and Masters of Management (MM). UBC Sauder MBA program has a full-time and a part-time MBA . UBC School of Business acceptance rate was 13% in 2015.
UBC Sauder MBA fees - $47,724
University of Cambridge (Judge)
Cambridge, England founded in 1209, is one of the affordable business schools around the world . Cambridge Judge Business School MBA program is ranked as top in the world by Forbes Magazine, Bloomberg, BusinessInsider etc. Named after Sir Paul Judge, a founding benefactor, University of Cambridge offers Programmes like Master of Finance (MFin), The Executive MBA (EMBA). Cambridge Judge Business School ranking was 37 out of 100 in the world.
Cambridge Judge Business School fees - $49,000.
It is located in Milano Italy, founded in 1971. SDA Bocconi was ranked 7th in the world by QS World University Rankings for business and management studies in 2015. It offers MBA programs like Full-Time MBA, Global Executive MBA, Executive MBA (Evening course) etc. SDA Bocconi School of Management ranking was 7th in the world in 2015 by QS World University Rankings.
SDA Bocconi School of Management fees - $52,148
CEIBS-China Europe International Business School
CEIBS ,Shanghai ,China and was founded in 1994 and is one among top 10 affordable business schools. It offers programs like Finance MBA and Executive MBA and started offering a part-time MBA in 2012. CEIBS also launched a Ph.D. program by coordinating with IESE Business School. CEIBS ranking was 1 in Aisa and CEIBS MBA ranking (full-time) was 21 in 2015 by Bloomberg Businessweek.
CEIBS MBA fees - $59,844
You can find all opportunities and scholarships for MBA at www.wemakescholars.com
HEC - Paris
HEC Paris, located at Jouy-en-Josas, France was founded in 1881 and offers MBA and EMBA programs, a Ph.D. program and eleven specialized MSc programs, Grande Ecole – MSc in Management. Not only was it ranked as the excellent business school in Europe, it is also considered as one of the most prominent business schools in the world. HEC Paris MBA is a leading global MBA and has full-time, part-time and executive MBA. HEC Paris MIM Master in Management is the gateway to international students for the Grande Ecole program and to the world of opportunities.
HEC Paris MBA fees - $60,824
Prafful Shakhai has done his B.Tech from Manipal University and is an MBA aspirant. He has been banging his head recently to collect this information about in-budget business schools.
I hope this article helped you in getting the idea on affordable business schools around the world. If you think we missed out on any of the affordable business schools, you are most welcome to share with us in the comments section below.
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