How Much Does a Traditional MBA Program Cost

India is one of the fastest growing economies. As a result, industries are growing, and so are the career opportunities for fresh MBA graduates. Following this, the education scenario in India has changed over the past few years. There’s a wide range of educational institutions in India that offer flexible MBA programs to match the current industry as well as the candidates’ requirements. Many offer part-time MBA courses for working professionals, while others offer an international standard of education, many in collaboration with international universities. This brings great opportunities for MBA students to earn a high-quality education at home.

Depending on the placement services and the availability of the teaching staff at an institute, the overall cost of an MBA program in India may range somewhere between Rs. 7.5 to 25 lakh. The total cost may be divided into the following categories:

Fees

The fees for online programs and traditional institutes are not the same. Taking the total amount of fees into consideration, online courses are much more affordable in comparison to the traditional on-campus ones. The fees cover the costs of technical service, course management system, and distance education software. Moreover, there may be some additional fees associated with student services such as an online library, interactive tutoring, virtual academic advising, or online career services.

Tuition Fees

One good thing about online or distance programs is the fact that the cost of tuition is generally the same whether you live in or out of state. The tuition fee constitute the majority of your MBA program’s overall expenses – about 80%. For this reason, UAB offers an online MBA program that is very affordable for working professionals as well as those who can’t afford to attend traditional institutes. Online programs are identical to the on-campus ones in terms of faculty and curriculum, but tuition fees are lower.

Living Expenses

You are lucky if you have the best college located in your own city. However, if you’re considering attending a college in another city or state, then you need to keep the living expenses in mind. The cost of living in a big city may be around Rs. 15,000 per month, excluding transportation charges. On the other hand, UAB offers an online MBA program that lets you cut the living expenses as you’re able to enjoy learning right from your home.

Apart from the abovementioned expenses, one needs to keep in mind all the other personal expenses that are essential but never counted when calculating the overall fee for the MBA program. This makes online MBA programs a great choice – these courses are available at lower cost in comparison to the traditional MBA programs, and the cost is nearly 10% of that, sometimes even less. UAB offers an online MBA program to allow working professionals and students to enjoy better job opportunities without investing too much money in their higher education.