5 cheapest countries to get an MBA
5 cheapest countries to get an MBA: The master of business administration (MBA) is the world’s most popular postgraduate business…
5 cheapest countries to get an MBA: The master of business administration (MBA) is the world’s most popular postgraduate business degree. It is easy to understand why. Over a post-MBA lifetime, graduates earn hefty seven-figure salaries—and they don’t even need an MBA from Harvard and Stanford. The PayScale survey found that MBA graduates from the top 50 business schools in the US receive median cash compensation of US$5.7 million after graduating and working for 35 years.
Compared to those with a bachelor’s degree, they earn US$2.3 million more. That’s a solid return on investment — on top of all the other perks and privileges that come with the degree first introduced by Harvard University Graduate School of Management (now Harvard Business School) in 1908. Back then, only men could join. Today, women do too—and they reap the rewards gained from expanding their minds and network and plenty of memories.
The downside, though, is an MBA can be expensive. You’ll have to take time off work, which means you’ll lose your salary for up to two years.
But choose the correct country to pursue your MBA and you might just have the best of both worlds: a useful degree without breaking the bank.
The 5 cheapest countries to get an MBA:
Based on the institute and program, MBA tuition fees in Germany range from 3,400 euros (US$3,860) to 44,000 euros (US$49,990) per year. This is because most universities in Germany are owned by the State.
A German master’s program is categorized as either consecutive (pursuing a master’s after obtaining a bachelor’s degree from Germany) or non-consecutive. Consecutive courses are the most common master’s program in Germany and are often free. At the same time, non-consecutive courses focus on a more highly specialized topic area and are most likely to charge fees.
That’s not all. Although tuition fee costs are low, international students can still apply for a wide array of scholarship options that can help further decrease tuition fees.
Not only is China rising as one of the fastest-growing economies in the world, but many of China’s higher educational institutions have also been attracting hundreds of thousands of international students. Home to over 40 globally ranked universities, China also has an inexpensive study cost making it one of the cheapest countries for an MBA.
Do not worry about not knowing the language. Most universities offer programs taught in English.
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Tuition fees in public universities range between RM20,000 (USD$4264.00) to RM31,000 (USD$6609.20 at the time of writing). Private university fees begin from RM30,000 (USD$6396) up to RM265,000 (USD$56498).
Malaysia is home to several branch campuses of universities such as Australia’s Monash University and the UK’s Heriot-Watt University, where international students can gain an international, accredited MBA at a significantly lower cost too.
An MBA in Canada is more expensive than in European countries but still lower than the likes of the US, UK, and Australia.
Canadian universities prioritize candidates that have at least 12 months of work experience. While it isn’t mandatory, those equipped with relevant experiences will have a better edge over others. But there are universities offering MBAs that do not require work experience.
The average range of MBA tuition fees in Canada falls between 10,000 to 35,000 Canadian dollars. A full breakdown of costs for the best business school in Canada can be found.
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While the MBA program was first introduced in the US, France was the first nation to offer such programs in Europe.
Unlike Germany, the MBA programs in France are only partially taught in English. Therefore, it is advisable for international students to meet the basic French proficiency level. Learning the language would also help in communicating with the locals.