Has adding an MBA to your list of accomplishments ever crossed your mind, luv? Let’s explore the world of MBAs where I can’t promise that all days will be exciting but can assure you that the entire experience has sharpened many individuals, including topnotch CEOs in both Philippine and international history. Of course, we’ll be tackling the costs of MBAs in the Philippines, which is the top deterrent from starting an MBA. However the costs fair into your budget, you’ll see how beneficial it is to go through MBA life if it aligns with your ambitious goals. Grab a cup of coffee; we're about to embark on this local MBA discography!
Table of Contents
Picture this – you, armed with an MBA, navigating the dynamic tides of the business world, making strategic moves like a chess grandmaster. The value of an MBA in today's business landscape is like owning a key that unlocks doors to career advancements, entrepreneurial ventures, and a network that's more powerful than a superhero alliance. Sounds grand but truthfully, if you Google executives or those in the C-Suite of top companies in the Philippines and globally today, you’ll know that I’m not sugarcoating my words. (wink emoticon)
TOCOverview of MBA Programs in the Philippines
Now, let's talk variety! The Philippines has a diverse array of MBA programs – full-time, part-time, executive, and even online options for those who want to conquer the business world. Top-notch institutions like Ateneo Graduate School of Business, University of the Philippines, and Asian Institute of Management are the gatekeepers of this transformative knowledge.
Key features discussed in the table below:
- Different types of MBA programs available (full-time, part-time, executive, online)
- Key institutions offering MBA programs in the Philippines
| Institution | Program Duration | Tuition Fee | Description and Flagship Program | Years in Operation | Program Types | Duration Range |
|---|---|---|---|---|---|---|
| Ateneo de Manila University | 2 years and 4 months | Varies by program | Ateneo GSB offers three MBA programs across six campuses, catering to different professionals' needs. Recognized for excellence by Eduniversal. | Over 50 years | Full-time, Part-time, Executive | Two to four years |
| University of the Philippines | 1 year and 8 months | Php 4,500 per unit (Total: Php 189,000 for 42 units) | UP Virata School of Business, with over 100 years of history, offers a non-thesis MBA program focusing on advanced management skills. | Over 100 years | Full-time, Part-time | One year and eight months to two years and eight months |
| Asian Institute of Management | 12 months | US$ 28,500 (approx. Php 1.44 million) | Known as the pioneer in management education in Asia, AIM offers a full-time MBA program with various specializations. AIM has been shaping leaders for over 50 years. | Over 50 years | Full-time, Part-time, Executive | 12 months |
| De La Salle University | 2 years | Php 3,816 per unit (Total: Php 137,376 for 36 units) | DLSU, a CHED Center of Excellence, offers a 36-unit MBA program, fostering professionals for higher-level management. Ranked 29th in Far East Asia. | Over 100 years | Full-time, Part-time, Executive | Two years |
| University of Santo Tomas | 2 years | Varies by nationality | UST's MBA program, with Level IV accreditation, offers specialization tracks and is recognized for its strong regional influence. | Over 400 years | Full-time, Part-time | Two years |
| University of San Carlos | 3 years | Php 19,500 – Php 35,000 per year (Total: Php 58,500 – Php 105,000 for three years) | USC, established in 1595, offers an MBA program with considerable local influence and Level III accreditation. | Over 400 years | Full-time, Part-time | Three years |
| José Rizal University | 2 years | Php 36,000 – Php 66,000 per year | JRU's MBA program, recognized as one of the top 10 in the Philippines, offers two tracks with Level II accreditation. | Over 100 years | Full-time, Part-time | Two years |
| Central Philippine University | 2 years | Php 1,020 per unit (Total: Php 39,780 for 39 units / Php 42,840 for 42 units) | CPU's MBA program, with Level IV accreditation, offers thesis and non-thesis tracks, emphasizing Christian values. | Over 100 years | Full-time, Part-time | Two years |
| Miriam College | 2 years | Php 2,400 per unit (Total: Php 103,200 for 43 units) | Miriam College, a CHED Center of Excellence, offers a modular, project-based MBA program in Quezon City. | Over 90 years | Part-time | Two years |
| Lyceum of the Philippines University | 2 years | Php 29,000 – Php 50,000 per year (Total: Php 58,000 – Php 100,000 for two years) | LPU, a CHED Center of Excellence, provides modern managerial skills through its MBA programs, established in 1952. | Over 70 years | Full-time, Part-time | Two years |
Tuition Fees and Academic Expenses
Hold on to your socks because as seen in the table above the cost of an MBA in the Philippines varies like designs of your favorite Adidas Sambas. From the tantalizingly affordable to the extravagantly exquisite, tuition fees range from Php38,500 to Php1.45 million. And don't forget the academic expenses – books, materials, registration fees – it's the ultimate feast for the brain, but it comes with a heavy price tag.
***Additional items to budget for under cost of MBA in the Philippines:
Socializing as part of your network building: Study and group sessions at your nearest Starbucks or favorite third-wave coffee shop (no matter how much you try to save these sessions will happen here), occasional (that will eventually turn frequent) wine and dine or dinner and movie/pub or club crawl nights with your favorite classmates and those term break beach trips and Christmas parties.
TOCComparing Costs: Local vs. International MBA Programs
Now, let's jet set a bit, shall we? Ever wondered if the grass is greener on the other side? We're comparing the costs of pursuing an MBA in the Philippines versus the glitz and glam of international programs.
Spoiler alert: it's not just about the money, it's about the experience, the exposure, and the cultural richness that comes with it. In fact, the Philippines boasts of some reputable MBA schools that attract international students.
Read more in this comprehensive blog.
TOCFinancing Your MBA
Money matters, but worry not! We're exploring the world of financing options for MBA students in the Philippines. Loans, scholarships, and grants – it's a financial buffet, and you're the VIP guest. From the intricacies of loan terms to the art of scholarship hunting, we've got you covered.
TOCScholarships and Grants
Think you’re smart enough? If you’re already feeling discouraged about the fees mentioned above, why not consider applying for a scholarship, which you can start right after submitting your application to your choice MBA school. A few of the institutions above like DLSU actually offer scholarships.
Here are some pro tips to ensure success:
- Make sure that you take note of important dates of when applications need to be submitted.
- Research all the requirements needed to apply for the grant.
- Study for the entrance exams to get shortlisted:
- Remember those nerve-wracking college entrance tests? Brace yourself for another challenge on your MBA journey.
- Admission Tests: GMAT, GRE, NMAT by GMAC, or school-specific exams. Registration and fee payment required.
- English Proficiency: TOEFL or IELTS for non-native English speakers. Certain scores may be required, e.g., UP MBA requires TOEFL scores of at least 550 (paper-based) and 90 (online).
- Interviews: Some schools, like Lyceum of the Philippines University, conduct interviews to ensure the perfect fit for their MBA program.
Student Loans and Financial Aid
Let's get real, shall we? Student loans might sound like a dragon you don't want to face, but fear not – we're breaking down the details of student loans that are available in the Philippines. Terms, conditions, financing firms and the magic spells to navigate through educational loans – consider this your financial survival guide.
Read this blog to learn more about this option, which you can even avail yourself of from a few of the MBA schools mentioned above.
You can also keep things simple and easy with a Tonik Loan:
Tonik Quick Loan offers up to P20,000 for 12 months, boasting monthly add-on interest rates as low as 4.24%. Applying is a breeze through the Tonik App; just flash a valid ID and your Tonik Account.
TOCCompany Sponsorship
Who said you can't mix business with pleasure? Approaching your employer for MBA sponsorship might feel like asking for an extra dessert, but the benefits for both parties are sweet. Check with your local HR if your company offers its employees a graduate school program reimbursement plan. Just remember that this usually comes with a bond of at least 3 years or more, and when not upheld, your company may expect you to pay back the full cost of MBA program.
Is your company not sponsoring MBA courses? Why not try applying to one that does? Just make sure you’re moving into a company that fosters your career growth and has the right benefitis for you, luv! We hear the San Miguel Group of Companies offers its employees 5 years and older a reimbursement program. It's a win-win situation, hun!
TOCSelf-funding Strategies
Saving for an MBA might seem impossible, but worry not, my savvy friend. We've got your covered for saving and budgeting ideas – it's like preparing for a financial marathon, but with the promise of a glorious finish line.
If you’re a first jobber, there’s no pressure at all since you’ve got time to save up. Tonik offers Time Deposits that lets you save up to 6% p.a.
Not sure if you might need that money you’re saving up for something else? It’s all good, luv! You don’t need to lock in your money using a Tonik Stash. It's like having dividers in your Tonik App, you can create up to 5 different stashes and earn up to 4% interest p.a. You can Stash with a group as well and earn up to 4.5% interest p.a.!
TOCReturn on Investment (ROI)
The moment of truth – let's talk ROI. What's the payoff for all those late-night study sessions, the caffeine-fueled marathons, and the financial acrobatics? We're dissecting career prospects and salary increments post-MBA, giving you a glimpse into the golden gates that open once you hold that prestigious degree.
If you worry about glaring POVs that prove MBA degrees aren’t relevant to get a salary increase and a faster career advancement, there’s more to earning an MBA degree in the Philippines, which makes the costs worthwhile. Beyond business, it's a gateway to explore a career shift in leadership roles in finance, government, non-profits, and education. Elevate as an operations or HR manager, business analyst, or strategist.
Maybe you set aside your dreams of entrepreneurship? An MBA equips you with vital skills—leadership, marketing, crisis management—that set you apart. Startups often stumble; your MBA arms you against common pitfalls.
Build an influential network during your MBA, connecting with industry professionals and innovative classmates. Gain fresh perspectives and invaluable lessons for post-MBA success.
Achieving an MBA isn’t just academic—it’s a badge of pride, earning respect and boosting confidence for managerial challenges. For me personally, I’ve gained amazing friends, not just for the purpose of padding my business contacts.
Embarking on an MBA journey in the Philippines is not just an investment in education but a leap into a world where opportunities knock louder, and success wears a sharper suit. So, strap in, keep that smile on your face, and get ready to conquer the world – the MBA way!
Lee-Anne Tobias holds an MBA degree from the Ateneo Graduate School of Business. She is Tonik’s Digital Marketing Manager and has eleven years of experience in Digital Marketing, Business Communications, Corporate Social Responsibility and Qualitative Research in fintech, energy and market research industries.
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