Pursuing a Master of Business Administration is a major investment in your career and professional future. Graduates of MBA degrees tend to see strong returns on their investment as their careers and earning potential are accelerated with the knowledge, skills and qualification they gain.
But like many other types of major investments, an MBA course can involve some significant costs before the return on investment is realised.
The AIB Fast-Track MBA has been structured as an online program to reduce the overall MBA cost without sacrificing quality. The internationally-recognised AIB MBA can also be completed in as little as 12 months, so graduates can start realising their return on investment sooner too.
What does the average MBA cost in Australia?
The cost of undertaking an MBA in Australia can vary widely depending on the reputation of the university or provider, the program itself and how it is delivered. An MBA delivered on-campus at a high-ranking Australian University can cost more than $100,000, while the average Australian MBA in 2022 will cost about $57,000, according to MBA News.
How much does the Fast-Track MBA cost?
The Australian Institute of Business is able to offer a much more affordable MBA program than many other providers because we don’t have the expense of maintaining campuses or lecture theatres.
The cost of your MBA with the AIB depends on several factors including your location and:
- whether you undertake the course in stages.
- whether you are entitled to any exemptions.
- when you plan to commence studies.
The fees payable for AIB courses are outlined at the beginning of the Finance and Payment Options section of our Student Handbook. For more information, please see our page on AIB MBA Fees.
Putting your career on hold to complete an MBA – particularly full-time and on-campus – can add two more hidden costs: lost income and opportunity cost for the length of the MBA.
There’s no lost income or hidden opportunity cost with the AIB Fast-Track MBA, which is delivered completely online and can be completed while you work. Find out more in our MBA Guide.
What does the cost of the AIB MBA include?
AIB has a focus on affordability that delivers what you need, not what you don’t. For this reason, the MBA costs are invested directly into:
- Quality education and academic teams
- Student support services
- Innovative technological advancements.
Your total costs are made up of tuition fees and non-tuition fees. Most costs are included in the subject enrolment fees, which are applied per subject that you enrol in.
Additional administrative fees for items such as replacement parchments or additional transcript copies may apply.
How much do textbooks cost?
Textbook costs are the responsibility of students, and will depend on the specific subjects enrolled in, whether the textbooks are bought new or secondhand, and from where textbooks are bought.
What finance and payment options are available for the AIB MBA?
The Fast-Track MBA offers a number of payment and financing options.
Depending on where you are based, the payment options for the AIB MBA are:
- FEE-HELP: available for Australian citizens or appropriate visa holders who meet the criteria.
- Study loans: MBA students based in Australia may be able to apply for a loan with our partner, Study Loans.
- Self-funded: all students, regardless of location can opt to pay for their studies themselves.
- Monthly payment plan: students based in New Zealand or Canada have the option to pay using a payment plan.
MBA cost vs return on investment
While the cost of an MBA is an important factor in deciding whether to enrol, the other crucial factor is the value of the MBA.
With AIB MBA alumni who graduated between 2010 and 2021 reporting an average increase of $33,712 since starting the MBA, the potential return on investment for an MBA will often ultimately significantly outweigh the costs.
What’s more, our 2021 MBA Alumni Insights Report also found that:
- 74% of graduates have already achieved their goal of career progression.
- 67% of aspiring business owners started or acquired a business since starting their MBA.
- 74% of 2021 graduates received a salary increase since graduating.
See also: How much does an mba increase your salary?
What ROI can I expect for my MBA?
You can calculate the return on investment for your MBA and estimate the increases in your income based on AIB MBA graduate data.
Try the MBA ROI Calculator.
An MBA is an investment
The AIB Master of Business Administration is one of the most affordable MBAs in Australia. Graduates of our internationally-recognised program report achieving their career progression goals and secure salary increases that result in strong returns on their investment.
If you want to learn more about the Fast-TrackMBA or you want to chat about enrolment, contact us today.