Often the key reason for studying your MBA online is the affordability this provides. Continuing to work while completing your degree means you can avoid trading in your salary to study. Online MBAs are also typically cheaper than in-person programs.
So what’s the lowest tuition fees can be when it comes to quality Online MBA programs?
For the most part, Europe is a more affordable study destination than the US. That means you can find accredited, highly ranked programs that cost under $25k, and some are even cheaper.
Here are 10 low cost Online MBAs that rank among the best in Europe according to the 2023 QS Online MBA ranking.
Low Cost Online MBAs In Europe
10. SBS Swiss Business School
QS Rank: 17
Cost: CHF 19,500 ($21,900)
While some schools on this list offer in-person study options to enhance your study experience, SBS prioritizes flexibility and customization above all else.
With a fully online format, students undertake 15 modules, each of which requires eight weeks of study. In total there are 10 core courses with five optional electives allowing you to further customize your experience with more specialized content.
Emphasis on flexibility means you can take anywhere from two to five years to complete the degree. This provides broad appeal: ages among the most recent cohort range from 22 to 67 years, while just as many students enrolled from Western and Southern Europe as from the Middle East and Africa.
After graduation, SBS online MBA grads launch careers across sectors including marketing and sales, travel, and technology. On average, graduates earn annual salaries of around $122k. Not bad when enrollment costs under $22,000.
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9. Business School Netherlands
QS Rank: 25
Cost: €20,000 ($21,700)
The Online Action Learning MBA is Business School Netherlands’ practical take on an Online MBA program.
Each class, module, and project focuses on problem-led learning to test your initiative and skills. Enrolling in the program will help you learn practical knowledge you can apply at work in real-time.
The BSN degree is taught over a 24-month period, requiring you to tune into live interactive sessions with a class of 20 fellow students. This makes for a more traditional study experience.
The program costs around $21,000 and helps students launch careers across a variety of industries. Previous graduates have landed roles in industries ranging from government, to banking, wholesale, and food.
8. Bologna University Business School
QS Rank: 13
Cost: €19,100 ($20,700)
While technically a hybrid program—all students must complete an in-person ‘smart week’ at the end of their degree—the Online MBA at Bologna University Business School ranks among the top-15 OMBAs in 2023.
Taking an innovative approach to scheduling, the school organizes four-hour teaching sessions every Wednesday evening, with further sessions taking place on Friday evenings and Saturday mornings every three-to-four weeks. The program lasts between 16 and 18 months.
As an institution, the business school focuses on luxury. This is evident during the smart week, when students get to network with executives and industry leaders from the likes of Lamborghini, Ducati, and Max Mara.
At around $20,000, the program appears affordable considering where grads tend to land roles. Graduates from the 2022 class are today working with the likes of Porsche Romania, Max Mara, and GSK.
7. United International Business School (UIBS)
QS Rank: 22
Cost: CHF 18,480 ($20,630)
UIBS is a network of business schools comprising 10 campuses across the globe, but the school also offers the opportunity to study online. The UIBS Online MBA is taught over a two-to-three year period, with three-hour classes available to be viewed 24/7.
The curriculum covers the fundamentals of business, including finance, human resources, marketing, supply chain, and management. All students can customize their experience by choosing elective modules which can be from any graduate degree taught at the school.
UIBS takes an innovative approach to degree certification: all graduates are presented with a diploma that is verified via the Ethereum blockchain network. Ranked 22nd by QS over the past two-years, the UIBS online MBA is an affordable option costing just above $20,000.
READ: Is An Online MBA Worth The Money?
6. EU Business School
QS Rank: 11
Cost: €18,300 ($19,880)
Like UIBS, EU Business School has campuses in several locations, including a digital campus for students looking for online learning. Highly-regarded, the EU Business School Online MBA ranks 11th globally, according to QS. It also costs less than $20,000.
Hosted in a Visual Learning Environment (VLE), the program provides access to learning materials and class recordings at any time. A hybrid format also means students gather to collaborate and network once each term for on-campus weeks in multiple locations: Geneva, Munich, and Barcelona.
Students who wish to go further with in-person learning can add an in-person semester to their program.
Throughout the year, the EU OMBA offers various opportunities to connect with industry leaders via guest lectures and networking events. This helps students launch exciting careers: the program has a 96% success rate when it comes to placements and salaries reach as high as $150k.
5. Durham University Business School
QS Rank: 7
Cost: £15,000 ($18,700)
The Durham Online MBA is another program that offers choice when it comes to study formats. Enrolling in the program allows you to complete your studies fully remote or via a hybrid schedule, depending on your preference.
The format ensures that all core study materials are available online 24/7, while you can also join live webinar sessions to connect with your peers. You are expected to spend 15 hours per week studying, with each of the 10 modules taking 12 weeks to complete.
Ranked seventh in the 2023 QS OMBA ranking, enrolling in the Durham Online MBA means you’ll be joining a highly regarded degree with a highly affordable price to match: tuition fees cost around $18,000.
4. Nottingham Trent University
QS Rank: 21
Cost: £14,310 ($17,800)
Another institution based in the UK, Nottingham Trent University offers an Online MBA that is stackable, meaning you can undertake and pay for modules as you go.
You can study as many modules as you like, with each costing around $1560, however there is a discounted rate if you’d prefer to pay for the whole program. This costs around $17,000 in total.
Modules in the NTU Online MBA cover a broad range of business topics, including responsible business, human resources, consumer engagement, innovation, and what it means to be a value-led organization.
READ: 10 Accredited Online MBA Programs That Cost Less Than $30K
3. GBSB Global Business School
QS Rank: 20
Cost: €15,050 ($16,300)
All three of the most affordable Online MBAs on this list are offered by business schools in Spain, the first of which is GBSB Global Business School.
GBSB offers a program ranked 20th by QS in 2023. It incorporates an accelerated study format that takes place entirely online over a 10-month period.
Study materials are available on-demand and the school incorporates a varied mix of theoretical, practical, and game-based learning to help students develop their expertise.
Enrolling in the program gives you the option to tailor your degree with a specialization track focused on a key business area—supply chain management, finance, or marketing, for example—or to complete a general MBA degree.
The flexible program typically attracts students with around nine years of work experience while the average age of the cohort is 32. On average, 90% of students land jobs within a year of graduation and a further 60% report having increased their responsibilities at work.
Coming in at around $16,000, the GBSB Online MBA can help transform your career for a relatively low cost.
2. Online Business School (OBS)
QS Rank: 19
Cost: €13,900 ($15,100)
OBS offers a wide range of programs for students interested in remote learning. The Global MBA takes place over 12-months and focuses on developing students across four key areas: strategic management, economic analysis, developing business plans, and working in virtual teams.
Costing roughly $15,000, the OBS Online MBA offers a personalized experience: the school provides each student with a ‘Program Manager’ who guides them through their degree.
Alongside the curriculum, OBS offers the chance to undertake a virtual exchange with TEC de Monterrey, a business school based in Mexico. Graduates from the program also get the chance to earn a second Master’s degree from the University of Barcelona.
1. EAE Business School
QS Rank: 10
Cost €12,650 ($13,700)
EAE Business School offers a plethora of MBA, Executive MBA, and Masters degrees across its Barcelona campus as well as via an online platform.
With a significant price reduction for online degrees, the EAE Online MBA is the most affordable on this list, costing less than $15,000 to complete. There is also the option of a blended approach, consisting of both online and in-person study at a slightly higher price.
The program offers a curriculum centered on several key pillars, including strategy, marketing, corporate finance, human capital, and innovation. The school employs a continuous assessment system, meaning there are no final exams and your performance is assessed as you complete each module.
Like OBS, students who complete the EAE Online MBA can also earn a Master’s degree from the University of Barcelona.
Online MBA Guide 2023 | Everything You Need To Know About Online MBAs