i) Cost
How much do New Zealand MBA programmes cost – in total? What do the course fees cover? What additional costs may be incurred? Can my fees change in my second year of study?
When considering cost, it is important to know what expenses are and are not covered by the course fees. Traditional programmes offer students the opportunity for faculty instruction in the classroom – known as tuition. With distance learning programmes, ‘instruction’ moved from being ‘in’ the classroom to being ‘in’ the teaching materials given to students. Regardless of how instruction is provided, tuition remains the most expensive component of course fees.
Besides tuition, the major components of New Zealand MBA course fees include: textbooks, cases and instructional materials, workshops, meals, international travel and accommodation. Below is a brief description of how New Zealand programmes cover these:
- Textbooks are included in course fees for most programs. Victoria’s fee information states that students may be required to purchase books for some courses. Neither Auckland nor Canterbury includes the cost of texts in their fees. The cost of textbooks often averages at least $150 per paper/topic.
- Workshops are included in course fees for most programs. Preliminary workshops have an additional cost in the Canterbury MBA.
- International travel is an additional cost (approximately $4000) in the Auckland MBA.
- Meals on class days are included in course fees for Massey’s Executive MBA.
- Parking is not included in any of the course fees.
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Other components of course fees include the costs of access to computer facilities, software, Internet, photocopying, library, telephone, facsimile and student offices. There is considerable variation amongst the programmes regarding these services and whether the costs are included in course fees or additional. Student association fees appear to be required and not optional. Building levies are also a part of some programs’ fees.
Fees can change while you are studying. It is important to check with program administrators before beginning your studies especially if your required commitment and the program of study are longer than one year.
In addition to ‘actual dollar amounts’, it is also important to reflect on costs that are not as clearly identifiable such as time and travel required, opportunity costs, potential loss of salary during the programme and the strain or stress on one’s personal relationships.
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