Europe attracts the majority of international students for higher studies, especially for the MBA course. While European institutions' most popular business degree remains the Master of Management, one-year and two-year MBAs are also gaining ground. Working professionals, undergraduate students, and overseas students are the most commonly recruited students for MBA programmes around the world.
Since the demand for MBA in Europe is on a rise, the fees witnessed a steep rise. International students nowadays can choose from the top MBA colleges in Europe with fees considerably low. However, there are other things you need to consider when it comes to the cost of MBA in Europe for Indian students, so keep reading!
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Factors Influencing Overall Cost of Studying MBA in Europe
Europe is a dream destination for many international students as you can choose any of the countries within the continent offering an MBA program. Following are some of the factors that influence the overall cost of MBA in Europe for Indian students:
- Cost Of Studying MBA in Europe
- Cost of Living while Studying MBA in Europe
- Other Essential Costs to Study MBA in Europe
- Pre-Arrival & Post-Arrival Costs to Study MBA in Europe
Cost of Studying MBA in Europe
One of the factors to consider when it comes to the average MBA in Europe cost, is the colleges and universities. The average cost of MBA in Europe is around USD 35,800 or INR 27,35,060.
The average cost of MBA in Europe varies with the type of university you choose. Some of the top MBA colleges in Europe with fees have been tabulated below:
|
College |
Fees per annum (in USD) |
Fees per annum (in INR) |
|
63,000 |
51,92,381 |
|
|
68,150 |
56,16,837 |
|
|
35,800 |
27,35,060 |
|
|
European Business School, Germany |
26,426 |
18,82,913 |
|
42,040 |
34,64,782 |
|
|
68,464 |
52,33,080 |
Cost of Living in Europe
Other than the university study expenses, students will need to have a complete idea about living expenses pertaining to MBA in Europe cost. Cost of MBA in Europe for Indian students is pretty affordable, but also depends on the city you’re living in.
Given below is the overview of various MBA prices Europe:
|
Expenses |
Average Cost per month (in USD) |
Average Cost per month (in INR) |
|
Accomodation |
948.93 |
72,615 |
|
Basic utilities (electricity, water) |
121.25 |
9,278 |
|
Internet |
31.63 |
2,420 |
|
Food |
421.75 |
32,273 |
Suggested: Expenses to Study in Europe for International Students!
Pre-Arrival Costs to Study MBA in Europe
The cost of living in Europe is quite affordable compared to other non-European countries. Moreover, the fees are also lower. However, there are some expenses that you need to bear before landing in one of the European countries. Some of the pre-arrival MBA in Europe fees that you need to consider are:
Application Fee
Most of the MBA courses in Europe require an application fee of around 100 EUR. It, however, depends on the type of college you are applying to. There is also an administrative fee that the international students need to bear. Once you are accepted, you need to pay a non-refundable deposit that gives you a surety of a place at the university.
Standardised Tests
As a part of the eligibility requirements, students need to undergo various entrance exams to pursue an MBA in Europe. A Graduate Record Examination, generally known as the GRE, or a Graduate Management Admission Test, popularly known as the GMAT, as well as an English Language Proficiency Test, such as the IELTS, are usually required for an MBA programme in Europe.
The MBA in Europe for Indian students fees for various standardised tests has been tabulated below:
|
Test |
Cost (in USD) |
|
228.69 or INR 17,500 |
|
|
196.02 or INR 15,000 |
|
|
182.95 or INR 14,000 |
Suggested: How to Pursue an MBA in Europe Without Work Experience?
Post-Arrival Costs to Study MBA in Europe
The various post-arrival average cost of MBA in Europe are:
Tuition Fees
The overall tuition fees in Europe is around EUR 35,800 or INR 27,35,060. However, it also depends on the country, and the university you are seeking an MBA course in.
Cost of Living
Upon arriving in Europe, students need to have enough funds to cover the post-arrival costs. This includes tuition fees, cost of living, transportation, and others. On an average, the cost of living is around EUR 948.93 or INR 72,615.26 per month.
Other Essential Costs to Study MBA in Europe
Besides the regular MBA cost Europe, students also need to pay for other essentials mentioned below:
Student Visa Fees
Student visa in Europe for international students is the most common visa. In most situations, this visa is valid for three months, after which a student must register with the Foreigners' Registration Office in the city where his or her university is located if he or she wishes to remain in the nation. The approximate student visa fee is around INR 5,000 or USD 65.34.
Medical Insurance
In Europe, students need to carry medical insurance issued by university or can have a third party. Students can always request that the University's international office offer the health insurance provider's phone number. Students must contact a health insurance provider and obtain a document proving that they are covered once they arrive in Europe. This is required for students to be admitted. In India, students can also contact the DAAD. In general the medical insurance cost is USD 84.35 or INR 6,454.74 per month.
Suggested: One-Year MBA in UK for International Students!
MBA programs in Europe can indeed offer you huge job prospects. One of the prime advantages of pursuing an MBA course in Europe is the humongous job opportunities. Moreover, since Europe is a hub of all the major multinational countries, you can easily avail a job offer right after completing your MBA degree. For further assistance on the cost of MBA in Europe for Indian students, you can also contact our Yocket Counsellors!
Frequently Asked Questions about Cost of Studying MBA in Europe
Ques. Is the MBA program in European countries recognized?
Ans. Europe is the storehouse of various MBA programs. Though the course duration is about a year, the degree is equal to the other world countries.
Ques. What is the cost of living in Europe?
Ans. The living expenses in Europe are pretty nominal compared to other countries. You can apply for a part-time job while pursuing the MBA course, and thus, it helps to bear your other expenses apart from academic fees.
Ques. Which European countries are best for MBA?
Ans. Most of the countries in Europe offer MBA courses. Following are some of the top European countries that provide MBA courses:
- Germany
- Ireland
- Italy
- United Kingdom
- France
- Spain
Ques. Is a European MBA degree valid in different countries?
Ans. Yes, the European MBA degree will help you in seeking jobs in different countries.
Ques. Are European universities expensive for MBA courses?
Ans. It completely depends on the university. There are public universities that charge less fees for the course.