Wednesday, December 3, 2008

Applications are Expensive!

So you have picked out your schools, aced your GMAT, condensed twenty odd years of your life into three essays and picked two referees who will fill those recommendation forms with praises.

Now its time to part with some cold hard cash :)

Most MBA applications have an application fee and they are not exactly cheap. If you are applying to a few schools the numbers quickly add up.

Here's how much I paid:-

School A €200 = MYR920
School B USD128 = MYR465
School C USD80 = MYR292

You'll also need to factor in postage and the odd international calls to international schools.

I've used both PosLaju International and FedEx. I think I'll just stick with FedEx in the future as the PosLaju tracking system is useless. FedEx also collects packages so you don't need to go to a drop off center.

For a 3 working day document delivery to Europe/Asia it cost me almost 90 ringgit EACH.

In total, I think I spent almost MYR1.9k just for the applications. This excludes the GMAT preparation materials and test!!

If you are wincing, think about how much you'll be spending for tuition, living expenses and foregone salaries..... :)

p/s There are schools that don't charge application fees. Cambridge's Judge Business School practices a zero application fee policy.

1 comment:

mytrainmaster said...

Yes, overseas pre-MBA preparation is a costly affair.

GMAT Fees: Typically 2 sitting to get the score you want (RM1,900)
GMAT Books: OG + Manhattan books (RM1,350)
TOEFL: Assume you don't need (RM0)
MBA Applications Fees: 3 schools ~ US$200 per school (RM2,280)
Transcripts: Depending on your Uni
Postage: For 3 schools (RM500)
Total so far: RM6,030

This assumes you don't use admission consulting firms and exclude travelling cost, time spent, and other mental health cost :)

Maybe this is why many Malaysians choose to do locally and use that money for the actual MBA.