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What Is an MBA Degree?

MBA in Austria

MBA in Austria

Nestled in the heart of Europe, Austria combines history, landscapes, and academic excellence. Its stable, diverse economy fosters innovation and sustainability, shaping an essential skill set for Master of Business Administration (MBA) students in leadership roles. This is an ideal country to immerse yourself in cultural heritage, gain a strategic edge in a forward-thinking business environment, and set the stage for global career success.

If you're considering pursuing an MBA in a land adorned with the legacy of Mozart, stunning alpine vistas, and delectable culinary experiences, we’ve got you covered.

Below, we'll offer insights into the perks of pursuing an MBA in Austria, covering costs, program types, post-graduation careers, salaries, and more.

Why Study MBA in Austria

Opting for Austria as your MBA destination comes with several compelling reasons. Positioned at the heart of Central Europe, Austria provides a strategic gateway to diverse markets and an opportunity to engage with a rich tapestry of cultures.

Moreover, the cost-effective education landscape stands out, offering a favorable alternative to countries like the U.S., UK, and France. The multicultural ambiance further enriches the experience, fostering global connections and the chance to learn German, an asset in the business world.

Lastly, Austria's status as one of the world's safest countries ensures a secure environment as you embark on your MBA journey, allowing you to focus on your studies with confidence and tranquility.

MBA Programs in Austria

Exploring MBA programs in Austria opens doors to exceptional education and enriching experiences.

Some of the best schools offering MBA programs in Austria include:

MBA in Austria Program Types & Duration

MBA programs in Austria cater to diverse academic and career needs through different program types and durations:

  • Full-Time MBA. Ideal for students aiming to advance their skills and enter the job market swiftly, full-time MBA programs typically span 1 to 2 years. These immersive experiences offer in-depth learning and networking opportunities.
  • Part-Time MBA: Geared toward those balancing work commitments, part-time MBA programs extend over approximately 2 to 3 years. This option allows students to maintain their careers while gaining valuable business insights.
  • Executive MBA. Designed for experienced professionals aiming to enhance their leadership skills, executive MBA programs last around 1 to 2 years. They offer tailored education, often accommodating work schedules.

Austrian MBA programs also offer a multitude of specializations that allow you to tailor your education according to your goals. Some of them include:

  • Digital Transformation & Data Science
  • Energy Management
  • Entrepreneurship & Innovation
  • Event & Communication Management
  • Finance
  • Marketing & Sales
  • Public Auditing
  • Strategic Project Management

MBA in Austria Eligibility

Eligibility requirements for pursuing an MBA in Austria vary depending on the specific university and program. However, there are some common admission criteria that universities tend to share:

  • Bachelor's Degree. You are generally required to hold a bachelor's degree from a recognized institution.
  • Work Experience. Some programs, especially executive MBAs, may require you to have relevant work experience to demonstrate practical business exposure.
  • Language Proficiency. Proficiency in English is often necessary, proven through standardized tests like TOEFL or IELTS, particularly for non-native English speakers. Additionally, since some programs may be offered in German, you might need to demonstrate your proficiency in German through the Österreichisches Sprachdiplom Deutsch (ÖSD) or another relevant examination/proof.
  • Letters of Recommendation. Many universities request letters of recommendation from academic or professional references to assess your suitability for the program.
  • Statement of Purpose or Essays. You may be asked to submit a statement of purpose or essays outlining your motivations, goals, and alignment with the program.
  • Interview. Certain programs may conduct an interview as part of the selection process to assess your fit for the MBA.
  • GMAT or GRE Scores. While not always mandatory, some universities might require the Graduate Management Admission Test (GMAT) or Graduate Record Examination (GRE) scores to evaluate your aptitude for advanced business studies.

It's important to note that specific requirements can vary, so it's recommended to check the admission guidelines of your chosen university for precise details.

MBA in Austria Cost

The cost of pursuing an MBA in Austria varies depending on factors such as the university, program type, and duration. Public universities often offer lower tuition fees for European Union (EU) and European Economic Area (EEA) citizens compared to non-EU/EEA students.

Private institutions may have higher fees, but they also provide specialized programs and additional resources. It's important to consider other expenses, such as accommodation, living costs, and study materials, when budgeting for your MBA in Austria.

Tuition Fees

On average, the cost of pursuing an MBA in Austria ranges from approximately €8,900 to €39,000 or more.

Public universities often offer economical choices, particularly for EU and EEA citizens, while private institutions might charge more for specialized programs and smaller class sizes.

For instance, the Austrian Institute of Management (FH Burgenland) offers affordable options at around €8,900, whereas institutions like WU Executive Academy provide premium experiences at around €39,000, reflecting their focus on excellence and industry ties.

Here's the complete list of tuition fees at some of the more popular Austrian universities offering MBA programs:

School Tuition
WU Executive Academy €39,000
Webster University €30,240
Austrian Institute of Management (FH Burgenland) €8,900
TU Wien Academy for Continuing Education €22,900
Central European University €16,000
Danube University Krems €17,900
Modul University Vienna €28,860

Living Costs

Living expenses in Austria are estimated at around €991 per month for a single person, excluding rent.

  • Dining out varies, with an inexpensive restaurant meal ranging from €9 to €20, while a mid-range restaurant's three-course meal for two costs between €45 and €100.
  • Local transportation costs between €2,20 and €3 for a one-way ticket, and a regular monthly pass ranges from €30,42 to €59.
  • Basic utilities for an 85m2 apartment, including electricity, heating, cooling, water, and garbage, cost approximately €297,26.
  • Rent is influenced by factors like city and location. Renting a one-bedroom apartment in the city center can range from €600 to €1,200, while outside the city center, it's around €500 to €900.

Keep in mind that these figures are estimates and subject to potential changes. To get a more accurate picture, consider researching the actual costs in the specific area you're planning to live.

MBA in Austria Careers

Graduates of Austrian universities and universities of applied sciences, as well as those from third countries, have the opportunity to stay in Austria for up to one year after completing their studies to search for employment. During this period, they can renew their "Students" residence permit and explore job opportunities that align with their qualifications.

MBA graduates in Austria can find opportunities across diverse sectors, including manufacturing, tourism, finance, technology, energy, and agriculture.

Some common post-MBA roles include:

  • Business Consultant
  • Marketing Manager
  • Financial Analyst
  • Project Manager
  • Human Resources Manager
  • Supply Chain Manager

Some notable companies where MBA graduates in Austria have found employment include: IAEA, REWE, Tesla, Samsung Electronics, Citibank, Estée Lauder, etc.

Average Salary in Austria for MBA Graduates

The average post-MBA salary in Austria can vary depending on several factors, including the specific industry, the type of MBA program, your experience level, and the location of your employment.

On average, MBA graduates in Austria can expect an average post-MBA salary ranging from €50,000 to €70,000 per year. However, it's important to note that salaries can be higher in sectors such as finance, consulting, and technology, especially if you have relevant work experience and skills.

Additionally, salaries may be lower in smaller towns or regions with a lower cost of living compared to major cities like Vienna or Graz.

Can I Study MBA in Austria Without GMAT?

Many MBA programs in Austria do not require GMAT scores for admission. While some schools may still ask for GMAT scores as part of the application, there are numerous programs where you can apply without submitting GMAT scores.

Schools that request GMAT scores typically do so in cases where applicants have limited experience or insufficient educational background. Alternatively, some institutions accept GMAT scores on a voluntary basis, allowing applicants to enhance their chances of admission if they choose to submit them.

Can I Study MBA in Austria Without Work Experience?

While certain MBA programs may prioritize applicants with 3-5 years of professional background, other programs adopt a more flexible approach. These programs recognize that leadership potential and a strong drive for personal and professional growth can outweigh the need for extensive work experience.

By demonstrating your leadership capabilities, academic achievements, and aspirations in your application, you can position yourself as a strong candidate for an MBA program in Austria.

Can I Study for an MBA in Austria in English?

Studying for an MBA in Austria in English is quite feasible. Many MBA programs are conducted entirely in English, offering international students the opportunity to pursue their studies in a language they are comfortable with.

While a majority of programs are delivered solely in English, it's worth noting that you might come across programs that are either in German or feature a combination of English and German instruction. Some programs even allow you to take supplementary classes in German while studying primarily in English.

While learning German is not mandatory for pursuing an English-taught MBA, it can offer you a distinct advantage if you plan to stay in Austria after completing your studies, as it enhances your integration into the local culture and business environment.

Whether you've opted for Austria due to its breathtaking scenery, top-tier educational institutions, or outstanding quality of life, you are sure to find a warm and culturally vibrant environment that enriches your academic journey.