An MBA is a graduate degree in business management, leadership, and administration. According to Forbes, an MBA is one of the most expensive degrees globally, with an average cost of $61,800 (INR 5,005,800). The costs can get too high when combined with other living expenses. However, don’t worry! Numerous cheap MBA abroad options offer excellent education without the hefty price tag.
Key Highlights:
- Canada, Switzerland, and Germany offer some of the cheapest MBA abroad options for Indian students.
- The average cost at these cheap MBA colleges abroad can range from $30,000 to $50,000 (INR 24,02,900 - INR 4,005,800), significantly lower than the US average of $61,800.
- Students graduating from these affordable MBA colleges secure positions with starting salaries ranging from $70,000 to $100,000, offering a strong return on investment.
- The average GMAT scores typically range from 600 to 650; GRE scores range from 310 to 320; IELTS scores are generally between 6.5 to 7.0, and TOEFL-iBT scores range from 90 to 100.
As the demand for MBAs skyrockets, it is becoming increasingly competitive to gain admission to top business schools. This is where Yocket Premium excels. Our dedicated counselors prioritize your needs and offer personalized guidance every step of the way. Let Yocket Premium be your trusted partner in turning your MBA aspirations into reality.
What is the Cost of MBA Abroad for Indian students?
An MBA is one of the most expensive graduate degrees. If you aspire to a global career, chances are that it’s going to cost a hefty sum. However, an MBA in countries like Australia, Germany, and New Zealand can be quite budget-friendly. There are also excellent B-schools in US and Canada, that can cater to a budget. The average cost of studying for an MBA in top study destinations is:
|
Country |
Average Tuition Fees per Annum |
Average Tuition Fees per Annum (in INR) |
|---|---|---|
|
Australia |
AUD 39,000 |
₹22,18,170 |
|
Canada |
CAD 30,000 |
₹18,19,570 |
|
New Zealand |
NZD 31,000 |
₹16,31,890 |
|
UK |
GBP 31,000 to GBP 87,000 |
₹3,131,000 to ₹8,787,000 |
|
US |
USD 60,000 to USD 80,000 |
₹4,980,000 to ₹6,640,000 |
Top 10 Most Affordable & Cheapest MBA Colleges with Low Fees
An MBA does not have to be expensive to attain. Check out some of the cheapest MBA abroad programs that that provide excellent education and job prospects at lower tuition fees.
Affordable MBA Colleges |
QS Ranking 2025 |
|---|---|
|
Memorial University of Newfoundland, Canada |
661-670 |
|
University of Victoria, Canada |
349 |
|
EU Business School, Barcelona |
141 |
|
University College of Birmingham, UK |
80 |
|
Technical University of Munich, Germany |
28 |
|
University of Tuebingen, Germany |
222 |
|
Kaplan Business School, Sydney |
45 |
|
International Institute of Business and Information Technology, Sydney |
N/A |
|
Deusto Business School, Spain |
1001-1200 |
|
EAE Business School, Spain |
Ranked among the Top 10 in Europe for Global MBA |
Moving forward, let's take a quick look at each of these cheap MBA colleges abroad.
1. Memorial University Of Newfoundland (MUN), Canada
Memorial University of Newfoundland (MUN) ranks as one of the cheapest MBA abroad options in Canada. Known for its low tuition fees and practical training methods, MUN offers an affordable MBA option for international students. With campuses in St. John's, Corner Brook, and Harlow, it provides diverse academic programs in a vibrant urban environment, making it a standout among low-cost MBA colleges abroad.
|
Annual Tuition Fees |
CAD 4,840 or INR 2,93,200 |
|
Scholarships Offered |
|
|
Programs Offered |
|
2. University of Victoria
Located in British Columbia, the University of Victoria is a widely known public research university. It has over 21,000 enrollments, is rated as one of the affordable MBA colleges in Canada, and is in the top MBA colleges abroad for nominal tuition fees. Undoubtedly, the University of Victoria is a standout choice among low-cost MBA colleges abroad.
|
Annual Tuition Fees |
EUR 35,890 or INR 29,61,700 |
|
Scholarships Offered |
|
|
Programs Offered |
Daytime and Weekend MBA in Sustainable Innovation |
3. EU Business School, Barcelona
EU Business School (EU) in Spain is among the most affordable MBA colleges in the country. This private institution specializing in business studies, and was established in 1973. It holds certification from eduQua, the inaugural Swiss quality standard for higher education institutions. The MBA program at EU Business School earned recognition for its excellence in the Global MBA Ranking 2021 by America Economia and is renowned for offering the lowest MBA fees abroad.
|
Annual Tuition Fees |
EUR 21,900 or INR 19.28,690 |
|
Scholarships Offered |
EADA Business School – EADA Scholarships (offered on a merit basis) Barcelona GSE Master Scholarship |
|
Programs Offered |
|
4. University College Of Birmingham, UK
One such institution is University College Birmingham, which offers excellent but inexpensive education to international students from more than 60 countries. Due to the industry-oriented education and training, the employability rate at UCB has become very high. It is noted as one of the finest educational institutes around the globe and offers one of the most economical MBA programs abroad.
|
Annual Tuition Fees |
EUR 31,500 or INR 26,44,290 |
|
Scholarships Offered |
|
|
Programs Offered |
|
5. Technical University of Munich
The Technical University of Munich (TUM) is a standout choice for a cheapest MBA abroad. As one of Europe's leading institutions, TUM ranks as the fourth most innovative university. Their Executive MBA in Innovation and Business Creation is tailor-made for working professionals and executives. This program integrates strong academic management with personalized start-up and innovation consultancy, offering a distinctive opportunity to acquire and enhance entrepreneurial skills.
|
Annual Tuition Fees |
EUR 14,400 or INR 12,08,820 |
|
Scholarships Offered |
One-time financial aid between EUR 500 - EUR 1,500 per semester |
|
Programs Offered |
Executive MBA in Innovation and Business |
Read more on MBA Scholarships in Germany for Indian Students
6. The University Of Tuebingen, Germany
Among the oldest universities in Germany, Tübingen has gained international recognition for its educational philosophy based on research. The Tuebingen MBA is particularly famous for its research-based and practice-oriented MBA program. For ambitious Bachelor students, the Master of Science program in International Business offers a unique opportunity in a program merging academic and cultural development.
|
Annual Tuition Fees |
EUR 9,550 or INR 8,01,690 |
|
Scholarships Offered |
N/A |
|
Programs Offered |
Masters of Science in International Business |
7. Kaplan Business School, Australia
Programs as famous as Master of Business Analytics, Master of Professional Accounting, and Master of Accounting have been under the umbrella of Kaplan. With years of efficient functioning, Kaplan Business School has developed strong relationships with various local businesses in Australia such as the Sydney Swans and Davidson. These partners provide the students with contemporary opportunities for skills-building internships and talent development.
|
Annual Tuition Fees |
AUD 47,880 or INR 27,07,000 |
|
Scholarships Offered |
Asia- International Student Scholarship of AUD 43,100 |
|
Programs Offered |
|
8. International Institute of Business and Information Technology, Sydney
The Institute of Business Information Technology (IIBIT) in Sydney is recognized for its partnership with Federation University, offering undergraduate and postgraduate degrees in Information Technology and Business Administration at its Sydney and Adelaide campuses. Additionally, the institute supports students in securing internships and placements, and it offers programs like the Master of Technology and MBA in International Business.
|
Annual Tuition Fees |
AUD 57,600 or INR 32,56,540 |
|
Scholarships Offered |
Federation University Australia Global Excellence Scholarship |
|
Programs Offered |
MBA in International Business |
9. Deusto Business School, Spain
Deusto Business School holds prestigious accreditations from the Association to Advance Collegiate Schools of Business (AACSB) and the Association of MBAs. These global endorsements underscore the school's exceptional quality in business education, ranking it among the finest worldwide. Deusto is renowned for offering one of the best MBAs abroad with low fees. Deusto alumni occupy key roles in 20 percent of Spain's 35 IBEX-registered companies, including CEOs, VPs, and general managers.
|
Annual Tuition Fees |
EUR 11,000 or INR 9,08,300 |
|
Scholarships Offered |
The Fundación Vizcaína Aguirre Grants Programme |
|
Programs Offered |
|
10. EAE Business School, Madrid
EAE Business School, with a history of over 60 years in shaping successful professionals, has educated more than 73,000 directors and executives. Since its establishment in 1958, over 65,000 executives have benefited from EAE's classrooms. Participants hail from 72 nations spanning five continents, with 95 percent possessing professional backgrounds. Within the MBA program, the school offers a range of specializations, including a Master's in Financial Management, a Master's in Marketing and Sales, a Master's in Project Management, and more.
|
Annual Tuition Fees |
EUR 29,500 or INR 24,35,890 |
|
Scholarships Offered |
Academic Excellence Grant |
|
Programs Offered |
|
Pursuing an affordable MBA abroad is readily attainable. For Indian students, a low-cost MBA abroad offers a comprehensive blend of top-notch education and strong employment prospects. These cheapest MBA colleges abroad are renowned for international students a high return on investment (ROI).
Top 10 Cheapest Countries to Study MBA Abroad for Indian Students
Pursuing an MBA can be a significant financial investment, but selecting the best country to study MBA in low cost can make it more affordable. This table summarises the most affordable options for pursuing an MBA internationally, with a focus on countries offering lower tuition fees and notable business schools.
|
Country |
Average Cost of Living |
Average Tuition Fees |
|---|---|---|
|
Canada |
CAD 1000 (INR 60,478) |
CAD 30,435 – CAD 31,856 (INR 81.5- 19.2 lakhs) /per year |
|
China |
RMB 3816 (INR 45,086) |
RMB 1888,000 to RMB 438,000 (INR 22.28-5.17 lakhs) /per year. |
|
Switzerland |
CHF 1,850 (INR 1.6 lakhs) |
CHF 28,500- CHF 70,000 ( INR 25- 61.6 lakhs)/per year |
|
Germany |
€850 (INR 73915) |
€19,000 to €45,000 (INR 16.5- 39.13 lakhs)/per year |
|
Norway |
NOK 12,352 (INR 1,02,160) |
No tuition fees |
|
Ireland |
€ 590-€ 1,000 (INR 51,300- 86,940) |
€8,000- €30,000 (INR 6.95- 26 lakhs)/per year |
|
The Netherlands |
€800-€ 1,100 (INR 69,542-95,637) |
€14,930 -€89,000 (INR 12.9- 77 lakhs) per year |
|
Singapore |
SD 1400 (INR 85,186) |
€8,000- €1,100 (INR 6.95 lakh -95,631) per year |
|
France |
€400-€800 (INR 34,783- 69,567) |
€14,930 -€89,000 (INR 12.9- 77 lakhs) per year |
|
Sweden |
SEK 12,000 (INR 95,831) per month |
SEK 330,000 (INR 26.35 lakhs)/per year |
Suggested: Cheapest Countries to Study MBA Abroad
Eligibility Criteria & Admission Requirements for Cheapest MBA Abroad
Before applying for an MBA abroad, it's important to know the basic eligibility requirements. These help schools determine if you're ready for the program. Here's a simple overview of what you'll need.
- Bachelor’s Degree: A completed undergraduate degree from a recognised institution.
- Work Experience: 2-5 years of professional experience is often required, especially for top programs.
- Standardised Tests: A valid GMAT or GRE score. Some programs may also accept the Executive Assessment (EA) for experienced professionals.
- English Proficiency: Non-native English speakers usually need TOEFL or IELTS scores.
- Academic Transcripts: Official transcripts from all previously attended institutions.
- Letters of Recommendation: Usually 2-3 from professional or academic sources.
- Essays or Statement of Purpose: Highlighting your career goals, achievements, and reasons for pursuing an MBA.
Specific requirements may vary by school, so always check the details for each program you’re interested in.
How to Apply for an MBA Abroad?
Applying for an MBA abroad is a significant decision that involves a well-planned process. It requires thorough research, meeting specific academic and professional criteria, and careful preparation of your application materials.
Step 1: Research Programs
- Identify schools and programs that align with your career goals and preferences.
- Consider factors like program structure, rankings, and alumni network.
Step 2: Check Eligibility
- Ensure you have a bachelor’s degree and 2-5 years of work experience.
- Prepare for and take the GMAT/GRE and, if needed, TOEFL/IELTS.
Step 3: Prepare Your Application
- Gather transcripts, update your resume, and secure strong recommendation letters.
- Write compelling essays that showcase your goals and qualifications.
- Complete and submit the online application by the deadline.
Step 4: Interview Preparation
-
If shortlisted, practice for interviews, focusing on your experiences and goals.
Step 5: Financial Planning
- Research and apply for scholarships, grants, and loans.
- Plan for tuition and living expenses.
Step 6: Visa and Relocation:
- Apply for a student visa upon acceptance.recognized
- Plan your move, including housing and adjusting to life abroad.
How to Pursue an MBA abroad at Low Cost?
Pursuing an MBA abroad doesn't have to break the bank. With careful planning and strategic choices, you can obtain a quality business education at a reduced cost.
- Choose Affordable Destinations: Consider countries with low or no tuition fees, like Germany or Norway, or regions with lower living costs, such as Eastern Europe or Southeast Asia.
- Apply for Scholarships and Grants: Look for financial aid from universities, governments, and private organisations.
- Consider Accelerated or Part-Time Programs: These can reduce overall costs, especially if you can work while studying.
- Employer Sponsorship: Check if your employer offers financial support for further education.
- Minimise Living Expenses: Opt for shared housing, budget carefully, and choose locations with a low cost of living.
- Research Education Loans: Find low-interest loans with favourable repayment terms.
By combining these methods, you can pursue an MBA abroad without overspending.
From the Desk of Yocket
Choosing an affordable MBA program abroad can open doors to quality education without any financial strain. These top 10 budget-friendly colleges offer Indian students the opportunity to earn a globally recognized degree while managing costs effectively. By selecting the right institution and leveraging scholarships, financial aid, and careful planning, students can achieve their career goals without compromising on their financial stability.
Ready to Study Abroad? Book your FREE consultancy call with Yocket today! Our experts will guide you through selecting the right university, getting through the application process, and exploring financial aid options. Don’t miss out on this chance to get personalised advice and kickstart your global education journey. Schedule your call now!
