Top European countries that offer affordable MBAs
Enrolling in an MBA programme is a great step for you to take if you are looking to improve your credentials and to further your career. If you aspire to get an MBA in 2021, now will be a good time to look for an affordable MBA programme.
There are many advantages to studying in Europe, and it remains a popular choice for business school applicants.
The Graduate Management Admission Council (GMAC) reports an uptick in international MBA applications in Europe. This report said that 88% of total MBA applications to business schools in Europe are from international students.
MBA programmes come with a financial and time cost factor – a good MBA programme from a reputable higher learning institution can set you back by about US$100,000.
However, full-time students will also need to factor in living expenses and other costs. This is especially true if you enrol in an MBA programme abroad.
An MBA programme in Europe will typically require applicants to take several tests that each come with a fee. These tests include a Graduate Record Examination (GRE) or a Graduate Management Admission Test, (GMAT), as well as an English Language Proficiency Test like the IELTS.
MBA programmes in Europe are also popular mainly due to the duration of the programmes themselves, which tend to be shorter by a year.
So, although the MBA programme might come with a heavier workload, students can aim to graduate faster and save on living expenses.
As countries recover from the COVID-19 pandemic and resume on-campus classes, now will be a good time to seek out affordable MBA programmes in Europe.
While you may not be able to get an MBA for absolutely no fees (this perk is reserved for people who live in Europe), there are some affordable options to choose from:
Consider German public universities for affordable MBA programmes
Tuition fees for an MBA in German universities change frequently. Additionally, the cost of getting an MBA in Germany will also depend on the type of university offering the programme.
On average, tuition fees for the full-time MBA programme in a Germany public university can range from €300 to €10,000 depending on specialisation.
The tuition fees for the full-time MBA programme in a Germany public university will cost slightly higher and can go up to €20,000.
However, it has been found that the cost of getting an MBA in the United Kingdom will cost you 15% more, compared to getting it in Germany.
If you would like to reduce this cost even further, there are business schools in Germany that accept candidates without a GMAT qualification.
The Accadis Business School Bad Homburg, Akademie Würth Business School, Berlin School of Economics and Law, and the Cologne Business School all accept students without GMAT scores.
The universities instead accept students with significant work experience and have their own entrance examinations, in place of the GMAT.
Affordable MBA programmes in Finland
While international students will not be able to study in Finland free, the cost of getting an MBA in Finland is lower.
The tuition cost for getting an MBA in this country can be as low as €15,300 for the entire programme. This affordable fee applies to both Finnish and citizens of the European Union.
This fee also applies to international students who already have a residence permit in Finland. Getting an MBA in any of the universities in Finland is lower when compared to studying countries like the United States and the United Kingdom.
There are several schools that fall into the more affordable range. Among the schools to consider getting an MBA from including the Arcada University of Applied Sciences for an affordable total fee of €7,600, Helsinki School of Business which offers its MBA programme at the cost of €15,000, and the Häme University of Applied Sciences, which offers its MBA programme at the small price tag of €9,500.
Universities in Norway offer free MBA programmes
Norway is a dream destination for international students who want to pursue an MBA in Europe. This is mainly due to its affordability and the high standard of living.
The most attractive aspect of getting an MBA in Norway is that it remains free for everyone. Students within and outside the European Union are eligible to study for free in Norway’s public universities.
While you will not need to worry about coming up with the tuition-free to study in universities in Norway, the high cost of living can be a deterrent.