The cost of an MBA
How much does an MBA cost ? You need to budget for several elements:
- Enrolment fees, including administrative fees, the TOEFL for foreign students (Test Of English as a Foreign Language), the GMAT (Graduate Management Admission Test) and costs related to practice and preparation
- The actual training fees
- Related fees (books, educational trips etc.)
- Living expenses as you study (housing, food etc.)
The cost of an MBA in France
How much does an MBA cost in France ? The price may vary by several thousand euros, depending on whether you enrol for your MBA at university or in a chamber of commerce, private or international business school. So the cost of an MBA in France can vary between €5,000 and €90,000.
The cost of each MBA is determined based on the quality of the syllabus and teaching, the establishment’s reputation and the candidates’ level.
For example, the Global Executive MBA at KEDGE costs €39,000 (guaranteed until October 31st, 2021 - € 41,000 from November 1st, 2021). This is much lower than rates applied at some private business schools, because it is a chamber of commerce business school.
The cost of an MBA in the USA
Abroad, and especially in the USA, the cost of living adds considerably to financial outlay for students, on top of the cost of the actual diploma. So an MBA from the US costs between $100,000 and $120,000 for a 2-year study programme.
Top public schools in the US apply more modest teaching fees, around $32,000 a year.
The cost of an MBA elsewhere in the world
Of course there are MBAs elsewhere in Europe, as well as in Asia and Oceania. The teaching on offer is also top quality and increasingly reputed worldwide.
Enrolment fees for European MBAs can vary from €40,000 to €95,000. Increasingly well regarded in China (including Hong Kong), India, and Japan, Asian diplomas do not involve higher teaching fees than those in Europe.
Lastly, while Australia and New Zealand also attract MBA hopefuls, the cost of an MBA may be much the same as in the UK or Spain.
How can you pay for your MBA ?
There are many sources of funding for MBAs, on top of your personal resources (savings) :
- A student loan from a bank
- Contributions from your employer (training budget)
- CIF (individual study leave – in France)
- CPF (personal educational saving account– in France)
- Scholarships from schools, the government, corporations, foundations etc.
- Corporate sponsorship
- Partial refunds on hiring
- Payment plans for educational fees
- Tax breaks
The Admissions Department for the Global Executive MBA at KEDGE Business School is available to advise you on the most appropriate solutions for your profile.
What kind of return on investment can you expect from your MBA?
First of all, an MBA will boost your salary as an executive. Once you have your MBA, you can expect an increase in salary of 20% to 30% in the year after graduation and 50% over the next five years. It all depends on the country you work in, the industry you choose, your role, and the company that hires you. Thus, the annual gross salary of an MBA graduate in France averages out at €60,000.
An MBA can also be a springboard to boost your career, as you can rely on a dynamic, international network. After graduating with an MBA, more than 50% of executives are entrusted with new responsibilities and 40% are promoted to a better position.
So the return on investment for an MBA comes swiftly. Getting an MBA guarantees lasting, well-paid employment, in top managerial roles.