The luxury industry is a booming sector in India, and top B-schools are offering MBA degree in luxury brand management in collaboration with top universities and international luxury brands. The course allows students to earn a high-quality education and achieve remarkable career goals.
Considering all the benefits of pursuing MBA in luxury brand management, most Indian aspirants are looking forward to attaining the qualifications but at a reasonable fee structure. Since this course is a holy grail towards great career accomplishment, lots of students want to compare the degrees offered by different institutes in India.
Why the cost of Luxury Brand Management degree justified?
If you relate MBA to a high amount of fee, you must know what facilities and infrastructure you can avail for the next two years in the college. You can make an assessment based on following factors:
- Cost of MBA: The most significant cost to decide your career path is the amount you are going to spend as tuition fee. Be ready to spend an average of Rs. 20-25 Lakh if you want to pursue MBA in luxury brand management. Students who can’t afford the higher fee levels can avail education loan from various banks.
- Your living expenses: The MBA cost may increase because of your living expenses if you are pursuing a two-year residential program in a place far from your home. However, you can also appear from executive programs to avoid the higher cost of living.
- Preparation cost: MBA is the most sought after career program in Therefore, an average student needs to spend a considerate amount in preparation. For instance, you can add an estimate of Rs 25000-30000 to your MBA cost for preparation of GMAT, written exam, interviews and essay writing.
- Opportunity cost: All good things come with a price. The cost of doing an MBA varies according to the cost of the foregone salary and professional experience. Do not just evaluate the cost of doing MBA with its higher fee levels; you must consider the opportunity cost and evaluate the fee with its future value. The amount you are going to invest in the MBA fee and cost of living while doing the degree would become an asset to give you exciting returns throughout your life, even at the age of retirement.
Look at the long term opportunities associated with Luxury Brand Management degree
The fee structure and other costs associated with your MBA degree will obviously impact your life. Aspirants need both financial and emotional support to make the career decision. Make sure you don’t evaluate only the short-term costs of doing an MBA. Consider the impact of MBA in luxury brand management on your personal finances with aspect to the long term.
Once you consider the long-term benefits of doing MBA, the advantage will definitely outweigh the fee structure. Make an informed decision to pick the best institute where you are going spend the next two important years of your life. Luxury Connect Business School is a viable option if you are looking for a decent MBA degree in luxury brand management. The institute provides great opportunity to maximize the ROI of doing an MBA.