For many people who want to increase their career prospects, getting a Masters in Business Administration (MBA) degree is often the clearest path.
Because an MBA degree usually packs introductory courses in finance, management, economics, marketing, entrepreneurship, information technology and healthcare administration. An MBA degree is a surefire way to accelerate a fledgling career. What’s more, passionate entrepreneurs can gain solid business education while taking out an MBA.
Online MBAs have become a preferable option to MBAs taken in physical classes, especially because of the effects of the COVID-19 pandemic. However, online MBAs can be just as pricey as physical MBAs. Factors such as type of school, enrolment status and delivery format contribute significantly to the price you will have to pay for an online MBA. Also, the amount of time you will spend at an institution affects the cost of the MBA you will be getting, with two-year MBA courses costing roughly twice the price of one-year MBAs.
Public schools often charge lower tuition than private schools, and students who live in the same state as a public school often have to pay less tuition than students who live outside the same state as their public school of choice. However, some public schools offer the same tuition to all online students, regardless of their state.
There are also variations in MBA fees for part-time and full-time students. Part-time students have a flexible learning schedule but may have to pay higher MBA fees, while full-time students maintain a rigid schedule but pay less for getting an MBA degree.
Also, while trying to get an MBA program, you will have to pay for many things that are closely related to the MBA tuition itself. Application and registration fees, textbooks, and technology costs contribute significantly to the entire amount it will cost you to get an MBA degree at your preferred school of choice.
Since you now know the factors that influence the cost of getting an online MBA, you must be aware of the tuition fees of many schools in Australia.
Some online MBAs are very affordable, while others are very expensive, and the amount you have to pay for your MBA degree ultimately depends on the school you decide to attend.
The MBA programme at the Victoria Institute of Technology (VIT) costs $16,000, while an MBA degree in Leadership at the Central Queensland University (CQU) costs $16,992. The University of Newcastle (UoN) charges $23,155, while the Australian Institute of Management (AIM) charges $32,400 for an online MBA degree. The Torrens University Online MBA provided by Chifly Business School comes at an affordable $32,700, and the University of Southern Queensland (USQ) affords you an MBA at $35 280.
At the expensive end of the price spectrum, an MBA in Innovation and Leadership at the Ducere Global Business School costs $55,000. An Online Digital MBA degree at the Queensland University of Technology (QUT) costs $62,400, and an Online MBA award at Deakin University costs $50,700 for Australian students and $60,600 for international students.