Austria is a non-coastal country in South-central Europe that is a member of the European Union since 1995. The majority of its population is composed of natives from the country and the language spoken by the majority is German –with the dialect Austro-Bavarian. The country is among the Top 15 richest countries in the world and the countries with the highest standard of living.
Higher education in the country is regulated and funded by the Federal Ministry of Education, Science, and Research. It has 22 public and 16 private universities, with the public universities receiving funds for both education and research of its students. Undergraduate programs are taken for 3 years, Master’s for at least 2 years, and Ph.D. for 3 years. Listed below are some of the best business schools in Austria.
Top Business Schools in Austria
1. WU Vienna University of Economics and Business
The Vienna University of Economics and Business is an international institution that has earned the triple crown of accreditation (EQUIS, AACSB, and AMBA), demonstrating its commitment to quality education and internationalization. It also provides a variety of programs and research that are taught and conducted in English. Its campus has a diverse student population, with a 4:1 ratio of local to international students.
The university has established a reputation for research, community involvement, and contribution to the application of research to industry. It also has an award-winning campus architecture that is open to the public, allowing anyone who wants to survey the grounds to do so. It is also a participant in the ENGAGE.EU program, which offers summer programs, exchange programs, and joint programs with other members of the organization.
The average tuition fee per semester is US$412; however, tuition for international students who are not from the EU/EEA is US$823. Due to the country’s free education system, these fees may be waived for eligible students, including Austrian citizens, citizens of EU/EEA countries, Geneva Convention refugees, beneficiaries of subsidiary protection status, students covered by the provisions of the ordinance governing admission, and students with residence permits.
2. Faculty of Business, Economics, and Statistics – University of Vienna
As one of the best institutions for business in Austria, the University of Vienna employs faculty from a variety of cultures and religious backgrounds, resulting in diverse research and teaching strategies at the university. Its research projects have consistently received funding and support from the European Research Council (ERC). The university has also formed teaching and research collaborations with universities from the following continents: North America, South America, Europe, Africa, Asia, Australia, and New Zealand.
Language instruction for Business courses is diverse, with lectures available in English, French, Italian, Spanish, and Russian, among other languages. The Faculty of Business, Economics, and Statistics, also produces high-quality research that ranks among the top ten in German-speaking countries. Its research focuses not only on theory but also on its application to industry, ensuring that it remains relevant and useful to the advancement of the business sector.
EU/EEA/CH students pay a different tuition fee than non-EU/EEA/CH students. Tuition is waived for EU/EEA/CH students for the average duration of their program, plus an extra two semesters. If studies last longer, the fee is $435 per semester. For non-EU/EEA students, the tuition fee is US$845 per semester. Exemptions and other fees are listed on the university’s website.
3. Faculty of Business and Management – University of Innsbruck
As evidenced by its rankings in academic publications around the world, the University of Innsbruck is one of the best business schools in Austria and has established an international presence. Aside from its high-quality education, it is also known for its research contributions, an area in which its Faculty of Business and Management also contributes.
Internships and exchange programs are designed to help students develop their skills and gain exposure to other business perspectives when solving and approaching various situations. Professionals can take a two-semester supplementary course on entrepreneurship.
Tuition is free for EU/EEA/CH students during the standard duration of their programs. An additional stay will result in a tuition fee of US$411 per semester. Semestral tuition for non-EU/EAA students is US$822.
4. MCI | The Entrepreneurial University
The MCI Entrepreneurial University in Innsbruck, Austria, is a private university that focuses on Applied Sciences and strives to stay relevant in the business world. Its Quality Education has placed the university in the Global Top 24 Performers for three years in a row. The AACSB (Association to Advance Collegiate Schools of Business) has accredited it, and the FIBAA has awarded it the seal of excellence in digital education (Foundation for International Business Administration Accreditation).
MCI graduates are well-known for their employability, which has attracted the interest of industry employers. Their knowledge and skills are honed through exchange programs, internships, and collaborations with universities all over the world.
Its undergraduate courses are primarily taught in German, with Business Administration and Business and Management courses taught in English, and graduate studies are primarily taught in English. Tuition is $411 per semester for EU students at all levels. Non-EU students pay US$7,075 for undergraduate studies and US$8,490 for graduate studies per semester. Other charges and adjustments can be found on the university’s website.
5. Department of Management and Economics/ Danube Business School – Danube University of Krems
The Danube Business School, part of the Faculty of Business and Globalization at the Danube University of Krems is one of the best business schools in Austria. It is accredited by ACBSP (Accreditation Council for Business Schools and Programs) and has been awarded a quality seal by FIBAA (Foundation for International Business Administration Accreditation). It is one of the country’s public universities, with a reputation for high-quality education and reputable research outcomes.
The Business School offers a variety of MBA specializations taught in either English or German. Some of the specializations also have certified programs. The average tuition fee for the entire program is US$16,300, which varies depending on the area of specialization, and certificate programs cost US$8,490 on average.
We hope this article on the best business schools in Austria was helpful. Make sure to also check out the Available Business Programs for International Students!
