MBA study costs: These are the expenses
From about 8,000 euros to over 50,000 euros, an MBA can study. A lot of money for the prospect of career jumps and salary increases. We have created a realistic overview of the MBA costs and help to classify the different prices.
Table of Contents
First of all, we wanted to know the total costs for graduates of an MBA to quantify their studies. For this we started an anonymous survey and received the following answers:
You can see that the expenses are fairly widely distributed. Nearly 40% are in the range between 15,000 and 25,000 euros, but it is also not uncommon to spend more than 30,000 euros. It is important to know that we have asked for the total costs, including teaching materials and any accruing accommodation and travel expenses. (Here you find the whole evaluation)
All costs of an MBA study broken down
MBA Degree – Cost of Tuition
The biggest factor is mostly tuition. You could say, on average, these costs are around 17,000 euros, but an average value is honestly not fair. There are many, especially thematically specialized MBA degree programs, which cost between 8,000 and 15,000 euros. And there are many who charge more than 25,000 euros in tuition.
We searched our study database and listed typical tuition fees below. Basically, it can be stated that distance learning courses are usually cheaper than (extra occupational) attendance courses. This is in the nature of things, as attendance study costs higher for the teaching staff, study location, etc..
We made a random selection and did not compare whether the tuition fees Meals are included during the courses or overnight stays. These costs are intended to provide a rough overview only.
|University||study type||tuition fee|
|GISMA Business School||Full time and extra-occupational||28.600 – 33.000 €|
|Frankfurt School||full-time||37,000 €|
|FH of the economy||Part time||18,100 €|
|TH Deggendorf||Part time||18,950 €|
|AKAD University||Distance Learning||14,520 euros|
|University of Kassel||Part time||20,000 €|
|WHU||Full time and extra-occupational||36,900 – 39,800 €|
|AfW Bad Harzburg||Distance Learning||8,900 €|
|HTW Berlin||Part time||8,000 €|
|University of Erlangen-Nuremberg||Part time||25,000 €|
|HHL Leipzig||Part time||33,000 €|
|University of Jena||Part time||9,900 €|
|FOM College||Part time||13,810 €|
|IUBH||Distance Learning||11,387 – € 16,403|
Here we list examples of MBA costs from various areas of specialization. Please note as well: We did not compare which exact services (eg excursions, meals, etc.) are included in the tuition fees. It’s just a rough guide to orientation.
|University||course of studies||tuition fee|
|University of Koblenz||MBA tourism management (extra occupational)||9,600 €|
|Ludwigshafen University of Applied Sciences||MBA Logistics (distance learning)||9,480 €|
|University of Hamburg||MBA Health Management (extra occupational)||12.800 €|
|University of Regensburg||MBA controlling (extra occupational)||14,000 €|
|Steinbeis SMI||MBA Marketing (extra occupational)||€ 30,400|
|SRH Fernhochschule||MBA Marketing (distance learning)||18,840 euros|
|University of Münster||MBA Marketing (extra occupational)||19,900 €|
|Cologne Business School||MBA International Management (full time)||22,290 €|
|Hamburg Media School||MBA Media Management (Full time)||25,000 €|
Do not forget when deciding: additional costs
The extra costs for your MBA studies are very difficult to say. It depends very individually on the respective program. Most MBA distance education courses do not include field trips. The situation is different with part-time, full-time and part-time courses.
- An excursion (to China or India) is included in the tuition fees at the FHDW. Participation in the second excursion costs about 1,200 euros. Not included are costs for the flights.
- The University of Würzburg integrates studies abroad in Boston, Florida and Beijing into the MBA program. Again, extra costs, e.g. for flights, on.
- The Steinbeis Center of Management and Technology also offers trips to the USA, England and Korea. The costs are not included in the normal tuition.
- At the North Academy you can optionally participate in the International Weeks in Mexico, China or Russia. The costs for flight and accommodation are top of the normal tuition.
But not only excursions abroad are to be considered in the financial planning of the MBA study. It is not uncommon to choose an MBA that is not in the immediate vicinity of your own place of residence. This means that hotel rooms must be booked at weekend events. The costs for this can also be around 500 – 800 euros per semester and thus a total of about 2,000 euros and more.
A small part of the MBA costs are the acquisition of teaching materials. This is almost negligible in the planning.
International MBA programs are more expensive
Those who do not want to do an MBA at a German university, but are geared to foreign countries, should usually expect higher prices.
The reason for doing an MBA abroad can really only be the reputation or ranking of the Business School. And here require the top universities in Europe or even worldwide quite fees of 50,000 euros and more. Not to mention, of course, the high expenses for travel and accommodation.
Pay the costs for the MBA study at all?
First of all you should keep in mind that the expenses for the MBA fall a little later, because they are tax deductible. Aimed over the thumb, one can recover about 30 – 50% of the costs. And if you do intensive research, you may also find a suitable scholarship, which makes financing easier.
But honestly – are the expenses worthwhile? We say yes”. Not (only) out of personal conviction, but also because of the numerous positive testimonials of the randomly selected and surveyed graduates. It says, for example:
Christian, MBA Sales Management at Ostfalia University
Self-funded, this degree has given me a new position as a higher-income product manager. He refinanced himself immediately – apart from the tax deductions. In the long run, I realize that I am a versatile interesting candidate for exciting positions through my degree, combined with my other degrees and activities, and I am regularly contacted.
Susanne, MBA International Tourism Management at the University of Bremen
I had to make the experience that the MBA in tourism is still little recognized and thus not financially rewarded. For this reason, today I am not active in tourism but in transport and traffic. Without my MBA I would never have received this position. All in all, the study has been worthwhile.
Christian, MBA Health Economics at HAW Ingolstadt
The MBA was worth it, as I now enjoy a high reputation at the executive level / in the administration. He did not pay off, because the study costs did not yet receive a payout.
Nadine, MBA Industrial Management at Danube University Krems
The MBA was definitely worth it for me. After graduating, I switched to a management consultancy and was able to negotiate over 30% more salary than I had before. The very practical content also helps me a lot in my daily job. And the attractiveness of my workforce has increased measurably, as I can see the recruiting requests of my XING profile. I was able to build an interesting network with the fellow students and the lecturers. and the benefits could now be expanded a lot.
Conclusion in a nutshell is simple: I think, any kind of further education will bring a person on. If you are interested in something and use it in your life, then such an MBA study can only be worthwhile!
These reviews are very typical. Many graduates do not translate the costs of the MBA course directly into salary increases, but report how much they personally and technically also benefited from the new contacts.
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