Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business sports weddings
CostHelper > Schools & Job Training  > MBA

MBA Cost


How Much Does an MBA Cost?

 
low costState University: $20,000-$50,000average costOnline University: $8,000-$60,000high costPrivate University: $50,000-$120,000
post Post    

A masters in business administration are usually two year full-time programs, but some (including programs at Northwestern, Cornell and Emory) can be completed in one year, and sometimes local state programs can be taken part-time or during evenings. MBA programs can cover general business theory and practice, but may also offer concentrations in fields such as accounting, marketing, and entrepreneurship.

Typical costs:

  • A Master of Business Administration degree typically costs $40,000-$120,000, for tuition and fees, but the total costs for a two-year program including books, insurance, room and board can run $50,000-94,000 a a year, or $100,000-$200,000 for a two-year program.
  • At a state university, an MBA typically costs $20,000-$60,000 per year for residents or $30,000-$65,000 for non-residents. For example, tuition at the University of Michigan[1] costs $52,394 per year for residents or $57,394 for non-residents, and around $72,000-$78000 per year including books, fees, insurance, and room and board.
  • At a private university, an MBA typically costs $50,000-$120,000 for tuition and fees. For example, an MBA from the University of Chicago[2] costs about $59,000 a year for tuition, and they estimate total costs of about $92,000 per year including books, insurance, rent, food, and personal costs.
  • An online or distance-learning MBA typically costs $8,000-$60,000, with higher prices for non-residents studying with a state university. At Florida Atlantic University[3] , state residents pay $13,720 while non-residents pay $40,000 to take the 40-credit-hour online MBA program.
Related articles: College, Law School, Career Counseling, Life or Business Coach

What should be included:
  • MBA programs have a wide range of required credits, from 30 to 60 to complete the program. MBA programs typically range from one to three years from start to finish, with a two-year program being the most common. In a shorter program, students must take more classes at a time. Some two-year or longer programs cater to working professionals, offering a few night classes at a time.
  • Most MBA programs introduce students to a wide range of business topics and allow a concentration in accounting, finance, health care administration, human resources, information systems, international business, marketing, operations, entrepreneurship, finance, or management.
Additional costs:
  • Additional costs for full-time MBA students can include food, housing, books, supplies, transportation, personal expenses, and health insurance. The total of these expenses can add an extra $20,000-$70,000 to a student's tuition and fees. For example, at the University of Michigan[4] , books, housing, health care and personal costs are estimated at $20,780 total. At Harvard Business School[5] these costs are broken down further and range from $34,600 for students who are single up to $66,000 for married students supporting two children.
  • Room and board typically costs $10,000-$20,000. For example, housing and food costs $10,972 at Brigham Young University[6] in Utah.
  • Books and supplies for an MBA typically range from $1,000 to $4,000. MBA program books at the University of Chicago[7] costs $2,100.
  • Transportation for a residential MBA program typically costs $600-$3,000 per year, which can includes bus, train, or personal transportation by vehicle. For example, transportation for the MBA at Babson University[8] in Massachusetts, costs $1,580-$2,130.
  • Personal expenses for an MBA student living on campus, such as health insurance, typically cost $3,000-$10,000. For example, health insurance for MBA students attending the University of Pennsylvania[9] costs $2,974.
Discounts:
  • Some universities offer a limited number of assistantships for master's programs. If granted an assistantship, a student may work part-time researching in the field or teaching courses at the university while earning a stipend which can be used towards tuition and other expenses. For example, at the Saint Joseph's University[10] MBA program in Philadelphia, assistants earn $4,000 per year and receive free tuition for eight courses per year in exchange for working 16 hours each week.
  • Scholarships may be available to students who meet program qualifications such as a high GPA or a proven financial need. Scholarships and Grants lists several funding opportunities for MBA students[11] .
Shopping for an mba:
  • US News & World Report ranks graduate schools in a searchable database[12] . Poets and Quants, a social network for those pursing a graduate degree, lists the 20 most expensive MBA programs[13] . The highest tuition is at the University of Pennsylvania's Wharton School[14] , and the highest overall program cost is at Columbia Business School[15] , according to the survey.
  • Get Educated, a consumer group ranking universities, lists its top 51 online MBA programs[16] from a survey conducted in 2009.
post Post    
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


Fix-it Favorites: Duct Tape and WD-40
My mother taught me that all home fixit-projects can be accomplished with either duct tape or WD-40. If something shouldn't move and it does, use duct tape. If something should move and it doesn't, use WD-40. || Posted September 30 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments


 

Comment On Your Experience With an MBA
 
Subject:  *
Amount Spent:  *
University: Length of Program: 
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www2.bus.umich.edu/MyiMpact/financial-aid/tuition-and-costs/due-dates
  2.  www.chicagobooth.edu/programs/full-time/admissions/tuition-financial-aid
  3.  www.fau.edu/controller/student_information/tuition_breakdown.php
  4.  www2.bus.umich.edu/MyiMpact/financial-aid/tuition-and-costs/due-dates
  5.  www.hbs.edu/mba/financial-aid/Pages/cost-summary.aspx
  6.  saas.byu.edu/ebrochure/BYU_Financial_Aid_and_Scholarships_Guide/Step_1__Count_the_...
  7.  www.chicagobooth.edu/programs/full-time/admissions/tuition-financial-aid
  8.  www.babson.edu/Pages/default.aspx
  9.  www.wharton.upenn.edu/mba/admissions/cost-summary.cfm
  10.  www.sju.edu/int/academics/hsb/grad/mba/students/prospective/assistantships.html
  11.  www.scholarshipsandgrants.us/mba-scholarships/
  12.  grad-schools.usnews.rankingsandreviews.com/best-graduate-schools/search.result/pro...
  13.  poetsandquants.com/2011/01/08/how-much-does-a-top-mba-degree-cost
  14.  www.poetsandquants.com/2010/12/09/the-wharton-school
  15.  poetsandquants.com/2010/12/09/columbia-business-school
  16.  www.geteducated.com/online-college-ratings-and-rankings/best-buy-lists/best-buy-mb...
More Schools & Job Training Topics
Check Out All Costs for Schools & Job Training How Much Does EMT Training and Certification Cost? How Much Does Middle School Cost? How Much Does Becoming a Photographer Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Front and rear brake pads and brake fluid exchange
Paid: 499.24
A coupon for Kurt's Automotive came up so I went to his shop to get a second opinion from what the dealership told me for a free brake job inspection... [more]
-Heidi L.
Brakes Cost
Eye exam(pressure, muscle, peripheral), refraction, retinal exam, contact lens evaulation
Paid: 342.00
Using dad's insurance blue cross blue shield and mom's culinary... [more]
-Evelyn
Eye Exam Cost
12 shingles replaced
Paid: 200.00
Replaced 12 Shingles in 4 separate locations on roof. Left remaining 14 shingles w/me for future use. Only 40 minutes actual labor but I think he did a good job... [more]
-W. Hill
Roof Repair Cost
Eye glasses
Paid: 275.00
675 before insurance 275 after... [more]
-Bobby Sammy
Eyeglasses Cost
What we pay
Paid: 2400.00
Quarterly bookkeeping revisions plus 1099 for 3 employees and advising... [more]
-Felipe01
Business Tax Preparation Cost
Brake fluid exchange, front & rear brake pads and resurface rotors
Paid: 634.85
This is the estimate they gave me. Breakdown is brake fluid exchange would be 134.95 (too much it seems). front brake pads and resurface rotors $249.95 and same amount for the rear... [more]
-Heidi L.
Brakes Cost