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Cost of Studying MBA Abroad: Tuition Fees of MBA Colleges Abroad

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Yocket Editorial Team
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Determining the ideal country for an MBA is a tough choice to make especially with the improving standards of education and excellent opportunities provided by all countries. The MBA abroad cost can be an important aspect to be considered to understand the return on investment and what level of financial commitment you are going to make. MBA fees abroad in one of the top 20 universities will cost you around $50,000-90,000 on an average but can also go higher than this if you are looking at the 5 highest ranked institutions.

If you want to know the top MBA colleges abroad with fee structure, you have come to the right place. In this blog, we have covered every detail about MBA in abroad fees and how much is the cost of studying MBA abroad including pre-arrival expenses, MBA course fees in abroad, living expenses and answers to your most common questions about MBA in foreign countries fees.

  Table of Contents:

  1. Pre-Arrival Expenses for Studying MBA Abroad
  2. Top MBA Colleges Abroad with Fee Structure
  3. Cost of Living Abroad for International Students
  4. Frequently Asked Questions about Cost of Doing MBA Abroad

Pre-Arrival Expenses for Studying MBA Abroad

There are a variety of expenses on an international student’s plate even before leaving for an MBA abroad. MBA fees in foreign countries must include the pre-arrival expenses related to entrance exam registration fees, application fee, visa application fees, airfare, etc. Take a look at the estimated pre-arrival expenses that are part of MBA abroad for Indian students fees:

Expense

Amount (in USD)

Amount (in INR)

IELTS registration fee

$245-255

18,750-19,600 INR

TOEFL registration fee

$190

14,550 INR

GRE registration fee

$205

15,700 INR

GMAT registration fee

$275

21,000 INR

Airfare (depending on destination)

$300-1,500

30,000-120,000 INR

Application Fees for MBA Abroad

You will have to pay a certain application fee when you are applying for an MBA abroad. This fee is a part of pre-arrival foreign MBA fees. Here is a table with the MBA in foreign countries fees for application charged by universities:

Country

Application Fee

USA

$200-300

UK

£200

Canada

C$50-250

Australia

A$50-100

New Zealand

NZ$50-150

Visa Application Fees for MBA Abroad

Among the various pre-arrival expenses of international students is the visa application fee. Different foreign countries require different categories of student visa which must be applied for in time along with the application fee. Take a look at the different student visa types for studying MBA in foreign countries along with application fees:

Visa Type

Application Fee

F-1 student visa (USA)

$500 (including SEVIS fees)

Tier 4 student visa (UK)

£348

Canadian study permit (Canada)

C$150

Student visa subclass 500 (Australia)

A$620

New Zealand student visa (New Zealand)

NZ$530

Insurance Cost for International Student Abroad

As international students, you will have to pay for health insurance annually. The health insurance plans vary in different country and a rough estimate has been provided below for your understanding:

Country

Annual Health Insurance

USA

$500-1,000

UK

£470

Canada

C$600-900

Australia

A$480-520

New Zealand

NZ$650-700

Top MBA Colleges Abroad with Fee Structure

The best way to get a clear idea about MBA abroad cost is to take a look at the MBA fees in foreign universities. Discussed below are the country-wise 5 top MBA colleges abroad with fee structure:

MBA Cost in USA

USA happens to be one of the top choices of international students for pursuing MBA abroad. Take a look at the MBA abroad for Indian students fees in top US universities:

University Name

Tuition Fees (in USD)

Tuition Fees (in INR)

Stanford Graduate School of Business

$76,950

59,00,000 INR

Harvard School of Business

$73,440

56,32,000 INR

The Wharton School

$83,320

63,90,000 INR

Sloan School of Management

$80,400

61,65,600 INR

Columbia Business School

$77,376

59,34,000 INR

MBA Cost in UK

UK universities give a tough competition to the excellent quality of education and opportunities provided by US universities. On comparing foreign MBA fees, UK and USA have closely similar tuition rates. Here are the top 5 universities in UK for MBA along with fee structure:

University Name

Tuition Fees (in GBP)

Tuition Fees (in INR)

London Business School

£97,500

93,29,000 INR

Said Business School

£65,520

62,70,000 INR

Judge Business School

£61,000

58,36,600 INR

Imperial College Business School

£57,200

54,73,500 INR

Warwick Business School

£45,950

43,95,100 INR

MBA Cost in Canada

Canada being one of the most well-developed countries provides excellent job opportunities and high salary prospects which is one of the reasons why international students prefer pursuing MBA in Canada. Here is the fee structure of MBA in the 5 highest ranked institutions in Canada:

University Name

Tuition Fees

Tuition Fees (in INR)

Rotman School of Management

C$129,190

77,49,100 INR

Smith Business School

C$104,100

62,45,700 INR

Ivey Business School

C$123,500

74,10,120 INR

Desautels Faculty of Management

C$99,500

59,70,100 INR

Schulich School of Business

C$112,250

67,49,800 INR

MBA Cost in Australia

Australia is also home to several well-established business schools and provides world-class education. The standard of living in Australia is worth praising and definitely one of the aspects considered by students who are planning to move to an entirely different country. Take a look at the most coveted Australian universities providing MBA along with their tuition fees:

University Name

Tuition Fees

Tuition Fees (in INR)

Melbourne Business School

A$92,250

50,52,425 INR

Australian Graduate School of Management

A$78,480

42,98,800 INR

Monash Business School

A$93,200

51,01,030 INR

Macquarie Business School

A$80,000

43,78,570 INR

UQ Business School

A$82,584

45,20,425 INR

MBA Cost in New Zealand

Being ranked among the top 5 countries in the world for business in the Forbes is what gives an edge to MBA graduates in New Zealand. MBA programs in New Zealand focus on the overall personality development of students which help them to get better opportunities in the job market. Here is a list of top business schools in New Zealand along with their tuition fees:

University Name

Tuition Fees

Tuition Fees (in INR)

Otago Business School

NZ$60,892

30,38,690 INR

Massey University

NZ$46,800

23,35,455 INR

University of Waikato

NZ$59,485

29,68,475 INR

University of Auckland

NZ$42,220

21,07,195 INR

Auckland University of Technology

NZ$53,700

26,80,160 INR

Cost of Living Abroad for International Students

One of the important components of an MBA in abroad fees is the living expenses for international students. Mind you that the cost of living in foreign countries is far more than in India and therefore must be accounted for. Only some of you will be privileged enough to get an all-inclusive scholarship that will provide for your living expenses but for the others this is something that must be properly budgeted while estimating cost of studying MBA abroad.

Before taking a look at the foreign MBA cost of living, you must know that the exact cost will depend on which type of accommodation you choose between on-campus and off-campus facilities, whether you have a private room or shared one, amenities you are looking for and where you are located within the country. While finding out the cost of doing MBA abroad, you will see that the monthly expenses in some cities will be much higher than the others. So if you have a tight budget go for universities in cities with affordable living costs. Most foreign countries also allow international students to work part-time which is a very useful source of income for your living expenses.

Take a look at the yearly living cost of studying MBA abroad in various foreign countries:

Country

Average Annual Cost of Living (in USD)

Average Annual Cost of Living (in INR)

USA

$10,000-18,000

765,000-13,80,000 INR

UK

$12,000-24,000

920,000-18,40,000 INR

Canada

$11,000-16,000

840,000-12,25,000 INR

Australia

$12,000-22,000

920,000-16,86,000 INR

New Zealand

$10,000-15,000

765,000-11,50,000 INR

Yes, the fee structure for MBA in abroad can be overwhelming for you but don’t be disheartened if the costs exceed your budget. To relieve you from your financial worries and encourage you to study abroad, there is an array of financial aid opportunities specially for international students. By putting in some extra effort and taking part-time jobs or saving as much as you can will help you reach your goal successfully. Eventually, all your investment will pay great returns once you complete the program.

Frequently Asked Questions about Cost of Doing MBA Abroad

Ques. How much is the cost of doing MBA abroad?

Ans. MBA fees abroad will be around 20,00,000-75,00,000 INR depending on the institution and country you wish to enroll in. You will find universities offering cheaper MBA as well as more expensive programs.

Ques. Which is the country with the cheapest MBA fees in abroad?

Ans. Among the top countries for pursuing an MBA, New Zealand universities have some of the lowest MBA course fees in abroad. Portugal is the country offering the cheapest MBA fees in abroad with low tuition fees and at the same time multiple financial aid options.

Ques. Are MBA course fees in abroad expensive?

Ans. Yes, MBA course fees in abroad are definitely expensive when compared to Indian B-schools. While the cost of an MBA in India is around 7,50,000-25,00,000 INR, the cost of MBA abroad can go as high as 50,00,000-1,50,00,000 INR.

Ques. Which country is best for MBA abroad for Indian students fees?

Ans. The best MBA fees in foreign countries with good returns are USA, UK, Canada, Australia, New Zealand, Germany, France among others.

Ques. Is it better to do an MBA abroad or in India?

Ans. If you compare the ROI for MBA in India and abroad, MBA abroad definitely offers better returns as well as jobs with lucrative packages and a lot of other benefits.