10 MBA programs that cost less than $50k

The MBA is an ultra-flexible general management program where students enhance their expertise and understanding in the field of business administration while covering the key fundamentals of business. A plethora of opportunities open up for graduates of a top-ranking MBA program, both in terms of hierarchy and job opportunities. Conversely, the cost of pursuing an MBA degree is growing at an alarming rate. Add to that the cost of living and healthcare insurance and the numbers could easily touch $200k. Few B-schools including Harvard charge over $200k just for the tuitions. Therefore, it becomes pertinent to look for affordable yet high-quality programs. A few of the top business schools offer courses that fit the criteria. We have compiled herein some of these programs, sourcing the data from the top 70 of the Financial Times 2020 global MBA rankings. These rankings are specific to MBA courses, and the overall rankings of colleges might vary.

Durham University Business School

Rank #62

Fee $ 40000

Scholarships: Yes

Durham University Business School is located in Durham, London. It is a multidisciplinary school that offers a wide range of business courses. All three accreditation bodies AACSB, AMBA and EQUIS have certified this institution, making it one of the elite schools. 

Specialized Masters programs in economics, finance, management, and marketing are also available. A well-balanced GMAT score of a minimum 600, ILETS of 7.0 or a 102 or above in TOEFL is required. The institution offers three types of MBA courses. 

Durham offers a 25% fee scholarship to alumni along with few other scholarships. The university website is usually updated with scholarship requirements and restrictions.

Sungkyunkwan University

Rank #54

Fees: $27000

Scholarships: Yes

Sungkyunkwan University is located in South Korea and is a well recognized private institution known for its history going back six centuries. SKK University offers a wide range of general and professional programmes such as law, engineering, liberal arts, and management. The university has two well-equipped campuses located in Seoul and Suwon. 

SKK offers one 18 month MBA course. Work experience of a minimum of four years is advised. A TOEFL score is mandatory along with IELTS for international students.

Non-College specific scholarships are available for students. The university also keeps updated scholarship information on its official website. 

Georgia Institute of Technology

Rank #53

Fees: $ 41000

Scholarships: Yes

Georgia Institute of Technology is a research institute and university of technology located in Atlanta, Georgia. Popularly known as Georgia Tech, this public university was established in 1885 and since then it has reached phenomenal heights. The university’s Advanced Technology Development Centre has been recognized by Forbes Magazine as one of 12 business incubators ‘changing the world’.

Georgia Tech offers an MBA course of twenty-two months. Applicants must hold a US bachelor’s degree or equivalent. A TOEFL score of 95 is mandatory as well as a good score in the GRE or the GMAT. Non-college specific scholarships are available based on merit and need. Funding is granted to more than 50 percent of full-time MBA students including graduate assistantship and fellowship from the Scheller College of Business.

Renmin University of China Business School

Rank #38

Fees: $ 25400

Scholarships: Yes

Renmin University of China Business School is one of the top public universities of Beijing, China Mainland. It was established in 1950 and has become an epitome of quality and affordable education.

The institution offers two specializations: Corporate Social Responsibility and Financial Management & Leadership. It is preferable to have relevant two-year work experience along with a mandatory bachelor’s degree or higher and a competitive GMAT score of 550 or GRE 225. Non-indigenous English speakers are required to submit the TOEFL score of 90 and above or an IELTS score above 6.0.

Scholarships offered include the International Study Reimbursement Subsidy, RMBS MBA/Yale MAM Concurrent Degree Scholarship, merit-based scholarships, and GMAT scholarships.

Shanghai Jiao Tong University, Antai

Rank: #37

Fees: $ 44000

Scholarships: Yes

Shanghai Jiao Tong University, is a predominant university in the field of research. Established in 1896, it is one of the oldest universities in China. The first program in China to achieve triple accreditation from AACSB, EQUIS, and AMBA is the Antai MBA at Shanghai Jiao Tong University. It is in the top 1% of business schools worldwide, despite the lesser fee. With links to Shanghai business leaders and weekly Chinese courses offered for international students, this program has a strong China focus.

Scholarships are available based on merit, the GMAT scores, and interview performance.

Nanyang Business School, NTU Singapore

Rank: #35

Fees: $ 44500

Scholarships: Yes

The Nanyang Business School, Singapore has cemented its place among the top business schools of the world. The university offers a twelve-month programme where students can choose from three specializations which include Banking & Finance, Strategy and Innovation, and General Management.

Aspirants must have two years of work experience. A score of 100 in TOEFL and 6.5 in IELTS is required. A GMAT score of 600 or higher, is accepted or GRE scores equivalent to the GMAT is accepted. NBS offers extensive scholarships, the details of which are available on the university website.

Fudan University School of Business

Rank: #33

Fees: $ 45600

Scholarships: Yes

Fudan University School of Business is located in Shanghai, China. The course material is taught in collaboration with MIT. Although the primary language of teaching is Mandarin Chinese, it is still an interesting choice for schools for candidates who have a strong understanding of Mandarin Chinese.

A good GMAT score can fetch Scholarships from 30% to 100% of the tuition fee.

Indian School of Business

Rank: # 28

Fees: $ 32650

Scholarship: Yes

Indian School of Business has campuses in Mohali and Hyderabad, India. This school was the 100th business school in the world to receive accreditations from EQUIS, AACSB, and AMBA. The institute offers a PGP programme which is equivalent to an MBA. For application to the one year program, a student must have a bachelor’s degree, a minimum of two years of full-time work experience, and a valid GMAT or GRE score.

For exceptional merit students, fee waivers up to 100% can be availed. Extensive information about fee waiver details is available on the university website. 

Indian Institute of Business Management, Bangalore

Rank: # 27

Fees: $ 28000

Scholarship: Yes

IIB Bangalore, India is globally acknowledged for its PGP programme. The institute offers three variations in the MBA programmes with a large number of electives. It was accredited by EQUIS in 2019. 

Admissions are merit-based. GMAT, CAT, GRE, or GATE are the recognized entrance exams.

Scholarships are awarded based on merit and means.

National University of Singapore Business School 

Rank: # 15

Fees: $ 47000

Scholarship: Yes

NUS Business School, Singapore offers an MBA programme of seventeen months. The course has been split two ways, following a very systematic approach. In the day time, teachers teach the main subjects while the electives are taught in the evening.

Along with a specified GMAT or GRE score, a minimum of two years of work experience is compulsory. An individual score of 100 in the TOEFL, 6.5 in IELTS, or 68 in PTE  is also required. Every year up to 150 students are offered scholarships based on their need, eligibility, and merit.