MBA in Europe vs UK: Which is cheaper?

cheap mba
Here are the major considerations you should keep in mind when choosing where to pursue your MBA. Source: Joe Raedle/AFP

Both the UK and Europe are home to top-notch universities offering world-class MBA programmesBut many are expensive — especially if your currency converts to too little in euros.

Thankfully, relatively cheap MBAs exist. Various universities in the UK and Europe run these programmes, striking a good balance between quality and affordability.

Some, however, are cheaper than the rest. Here’s a look at where you should focus your research on cheap MBAs:

Cheap MBA programmes in Europe vs the UK

MBA programmes at prestigious universities often host famed guest lecturers and visitors. Source: Raymond Roig/AFP

Home to the world’s best business schools such as IMD, INSEAD and Copenhagen Business School, Europe has no shortage of international students arriving on its shores every year. They pay an average of US$35,800 for a business degree.

Those looking to pursue their MBA would get the best of both worlds – a cheap MBA from a top-notch institution. Of course, more renowned universities as mentioned would cost higher but great news is that there are cheaper alternatives to choose from.

Other than an application fee of 100 euros (US$103.96 at the time of writing), non-EU/EEA students pay a comparatively lower amount compared to those in the UK. For example, Copenhagen Business School charges non-EU/EEA students 15,200 euros (US$15,801.69) per year while The University of Cologne Business School offers completely free tuition to international students regardless of their country of origin. 

On top of that, Europe is also generous with financial aid and scholarships for international students. If you still require extra financial aid, check out these scholarships

MBAs in Europe

MBAs in the UK vary in cost according to the university’s ranking. Source: Alain Jocard/AFP

MBAs in the UK

The UK is home to some of the most prestigious universities in the world. Outside of offering programmes in almost every field imaginable, UK universities are known to produce graduates who go on to significantly thrive in their future careers. This makes it a prime destination for students who are looking to pursue an MBA programme outside of their home countries. 

There are many business schools in the UK with leading MBA programmes. The top choice for most students would be London Business School (LBS), located in the capital city itself. However, gaining a cheap MBA from this institution is nearly impossible. For the 2022 academic intake — which spans between 15 to 21 months — tuition fees can go up to 97,500 pounds

Of course, not all MBA programmes in the UK are so exorbitantly priced. The University of Cambridge and the University of Oxford both offer leading one-year MBA programmes that cost 64,000 British pounds and 71,440 British pounds respectively. The Cambridge Judge Business School tends to offer generous scholarships to deserving and underrepresented students, which can help lower the cost. 

Cheap MBA programmes can be found in the UK from universities that may perhaps be less recognisable by name. For example, the full-time MBA at the University of Worcester costs around 15,800 pounds for international students. The University of Bolton MBA is slightly cheaper at 14,450 pounds

All in all, it is clear that highly-ranked and prestigious UK universities tend to charge higher fees for an MBA. However, there are many benefits that come with this, from more career networking opportunities to the chances of meeting and connecting with bright minds from across the world.

In this, you should carefully consider what you’d like to gain out of your MBA programme alongside the cost to make a decision that’s best for you.