MBA in the United Kingdom: Top B-schools, Fees, Eligibility, Scholarships, Jobs
MBA program duration may vary from 12 to 21 months in the UK; along with that, it may cost anywhere between 31,450 GBP to 87,900 GBP. And if you are an Indian student willing to pursue an MBA program in the UK, it would cost around 29 Lakhs to 81 Lakhs.
Below you’ll find information about top colleges and Universities to pursue MBA in the UK. Moreover, you’ll come to know what are the career opportunities and salary after the MBA program. Apart from that, we will be looking at the impact of COVID-19 on business schools in the UK.
There are around 130 business schools offering MBA programs in the UK with specialization choices such as economics, health administration, international business, etc. University of Warwick, Edinburgh, Oxford, and the University of Cambridge are the well-known ones that offer MBA programs.
It’s a fact that an MBA offers one of the highest payoffs as a degree.
|Highest Paying Degrees In The UK|
|Executive MBA||133,000 GBP|
|Executive Masters||95,000 GBP|
|Masters In Finance||93,000 GBP|
It’s obvious that a student would always have higher expectations with these MBA programs, of course, because the investment is quite high as well. The average salary after MBA is 100,000 GBP (97 LAP, approx.)
The eligibility criteria are not that stringent for pursuing MBA in the UK. Here are some important requirements:
- A student with a relevant bachelor’s degree, GMAT scores, and past work experience (not mandatory) can apply for MBA programs in almost all the business schools in the UK.
- In order to get into these MBA courses, you must have at least 60% or more marks in your bachelor’s degree.
- Students with 3-year bachelor’s degrees are eligible for these MBA programs. Unlike the US and Canada, where a student must have at least a 4-year bachelor’s degree.
- For GMAT scores, the requirements are not that strict; even some universities may allow you to pressure MBA without GMAT.
Between 2018-19, around 19,545 students enrolled for MBA in the UK. As per the report of HESA (Higher Education Statistics Agency), around 10,775 were domestic students, and the rest 8,160 were non-European Union students.
MBA in the UK – Highlights
|Top MBA colleges||Some of the Top MBA Colleges in the UK are London Business School, Oxford Business school, Cambridge Judge, Imperial College of Business, and Durham Business School.|
|Duration of Program||12 – 24 Months|
|Competitive GMAT Score||600+|
|Required Work experience||Generally 2-3 years|
|MBA Specialization||Finance and Accounting, Marketing, Entrepreneurship and Innovation, International Business, Project Management, Information System, etc.|
|MBA Skills||Problem Solving, working with others, Comprehension and Logic, Oral Communication and Presentation, Managing the Self, Data Analysis, and Interpretation.|
|MBA in UK Jobs||After MBA in the United Kingdom, you can work as a Chief Executive or Senior Officials, Advertising and Public relations director, Information Technology Director, Marketing and Sales Director, Financial Managers and Director, Management consultant, and many more.|
|Cost of Living||It purely depends on the city/ town you Live. London was ranked among the ten most expensive cities to live in Europe In 2020,|
|MBA in UK – Average Salary||£53,351|
Why Study MBA In UK?
- Students who study in the top business schools in UK get to customize their programs.
- Close to 10 universities of the UK were highly ranked among the prestigious FT business schools last year in 2020.
- Marketing research firm Chartered Management Institute has pointed out that more than 77% managers are on the lookout for capable post-graduates.
- As of now, the UK needs close to 2 million managers who are capable of bringing up new ideas to the market. Besides, the UK finds itself in dire need of these talented individuals.
- In 2018, the tier 2 skilled worker visa consisted of close to 60%of Indians in the UK. This goes to show that Indian managers have an affinity for the UK market once they graduate from top universities there.
- You will be astounded to know that degrees like the Executive MBA and MBA in UK can fetch you close to top-notch salaries. Graduates stand to earn 33,000 GBP and 116,000 GBP annually.
The Best Business Schools in UK
International students look into different aspects of an educational institution before taking admissions. Factors like curriculum, placement percentage, industrial growth are very important. Here is a simple guideline with details of admission, fee and scholarships, and placement opportunities for MBA in the UK.
Here is a guide to the top-ranking universities in UK with an MBA program. The top B-schools in UK is tabulated by The Financial Times Business School Rankings (2020). The ranking process also considers program fees and the duration of the course.
Top 10 Business Schools in UK
|FT 2020 – Ranking||Business School/ Universities||Program Fees|
|7||London Business School||£87,900|
|19||Cambridge Judge Business School||£57,000|
|21||Said Business School||£59,490|
|43||Warwick Business School||£40,450|
Best MBA Programs in UK – 1 Year MBA, Executive MBA & Part-time MBA
MBA in United Kingdom: Top 10 MBA Colleges in 2021
Below is a list of the best 10 MBA Colleges in the UK we have given based on the QS Ranking 2021. As you can see, the average MBA fee charged from the business schools is close to £50,483. However, the typical salary that MBA graduates earn is £93,659.
Below is a list of Top 10 MBA colleges in the UK (United Kingdom) 2021:
- London Business School (LBS)
- Oxford School of Business
- Cambridge Judge School of Business
- Imperial College of Business Studies
- Warwick School of Business
- Alliance Manchester Business School
- University of Edinburgh Business School
- Cass Business School
- Cranfield School of Management Studies
- Durham School of Business
MBA Salary in UK
Amazon, Bain and Company, Apple, Boston Consulting Group, Mckinsey, Citigroup, JP Morgan, Goldman Sachs, and Morgan Stanley are top recruiters in the UK. Since the salary offered is high, international students overall investments are easily compensated over a short period of time.
The highest income in the UK comprises of –
- CEO and Senior Officials
- Promoting and Sales Directors
- IT Director
- Financial Managers and Directors
- Advertising and Public relations Directors
A degree in business-related programs and a few years of experience fits the minimum requirements of the jobs mentioned.
Besides the degree, employers scout for leadership abilities. An MBA degree can help you gain more information about a specific area along with management and administrative skills.
Therefore, the degree helps to gradually move up to the jobs.
ROI after MBA in UK
Is it worth doing an MBA in UK? A financial times report showed a significant increase in the salary of MBA graduates from popular business schools in the UK. We have given details of the salaries of MBA graduates as follows:
|London Business School||105|
|Cambridge Judge Business School||95|
|Said Business School||103|
|Warwick Business School||78|
|Alliance Manchester Business School||103|
|Cass Business School||93|
|Imperial College Business School||64|
|Durham University Business School||107|
|University of Edinburgh Business School||68|
*The salary difference in alumnus salary before and after completing MBA in UK
Cost of Studying An MBA in UK
Students are keen on doing an MBA from UK as their job prospects increase significantly. Through the cost of studying MBA in UK is slightly higher, some of the best business schools in the world are based in the UK.
The cost of doing an MBA in UK is divided into two parts, namely:
- Pre-arrival cost
- Post arrival cost
The pre-arrival cost deals with your expenses related to documentation. For example, you have to pay for your UK student Visa application, ticket, and application fee. The post-arrival cost deals with living in the UK and the tuition fees once you reach the UK.
Besides, the cost of attendance for your entire MBA course includes the tuition fees combined with the cost of living.
Pre- Arrival Costs
The pre-arrival costs are called pre-departure expenses. They relate mainly to your visa fee, application fee, exam fee, etc. Before you come to your study destination, UK, you have to incur these necessary expenses.
MBA in UK with Scholarships
Pursuing an MBA degree in the UK demands a huge financial investment from international students. The reason why students still get into this program is the global acclamation of this degree. An MBA graduate from UK can land a job anywhere around the globe. The good part is many international organizations offer help in the form of financial support to international students while they pursue post graduation. Following are some of the scholarships granted to students for an MBA in the UK along with its perks:
- Commonwealth Masters Scholarships – Grant for travel, tuition fees (partial), basic expenses
- Commonwealth Fellowship Plan- full tuition fee
- Global Study Awards- £10,000
- Inlaks Scholarships- tuition fees
- Chevening Scholarships-tuition fees, monthly stipend, travel cost, cost of visa application
- Great Scholarship- Full tuition fees
MBA in UK – Eligibility, How to Apply, Deadlines, Score Requirements
Admissions to MBA in UK
An MBA in the UK happens to be a transforming experience for international students as they learn management skills during the course. The medium of teaching is mostly English which poses a challenge to international students as they are required to learn both oratory and business skills in the classrooms. To apply to top-ranking universities, you require basic academic documents and exam marks.
MBA universities receive enrollments from both domestic and international students. As per the Prospective Students Survey 2019, nearly 8% of domestic and 92% of international students applied for an MBA in the UK.
Different colleges have different entry eligibility. Listed below are the general requirements you should possess
- Graduation degree of 3-years
- In case of no honours degree and no professional qualification, you can apply but would need a score of at least 550 on the GMAT.
Eligibility for MBA in UK
The common eligibility norm for most of the business schools of the UK are listed below:
|Academic Requirements||A UG degree with 2:1 qualification|
equivalent to 50-60% (some schools may ask for higher scores)
|GMAT Score||Required for most schools|
Average for 2019 Class of various B-schools 640-730
|Work Experience||Not always mandatory, but preferred|
2 years (minimum)
5-6 years (average for 2019 class of various B-schools)
|Language Proficiency||IELTS: 6.5+|
|Resume||Copy of an updated CV|
|LOR||1 to 3|
Preferably professional or from supervisor
In case only 1 LOR is required, academic LOR is not accepted.
|Essay||500 words personal statement/SOP covering questions like:|
short & long term career goals, how will MBA equip you for a future, describing one teamwork experience, and why you chose the program.
|Visa||A student visa to pursue education in the UK|
|Funds||Proof of being able to finance your program|
MBA in UK vs USA & Canada
Studying MBA in USA is a dream comes true while pursuing MBA in Canada has the benefit of getting you a Permanent Residency easily. The question that follows is then why study MBA in UK? Tabulated below is the comparison that can help you decide better.
|Criteria||MBA in Canada||MBA in USA||MBA in UK|
|Cost from Top B-School||INR 24-67 Lakhs||INR 1.3-1.6 Cr||INR 29-81 Lakhs|
|GMAT requirements for FT program||Mandatory with some b-schools exception||Mandatory||Mandatory, some b-schools exceptions|
|Cheapest MBA program Cost||INR 9-11 Lakhs||INR 10+ Lakhs||INR 4-8 Lakhs|
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FAQs- MBA in the UK
How much does MBA cost in the UK?
It depends on the university to university basis, but it can range from anywhere between £23,000 – £90,000. However, the average cost for pursuing an MBA in the top 10 MBA colleges in the UK is £50,483.
Which MBA course is best in the UK?
In many universities of the UK, MBA is the most sought-after program. And when it comes to the best MBA course, you should definitely consider London School of Business, Oxford Business School, Imperial College of Business, Cambridge Judge Business School, and many more.
Which other country is best for MBA?
Here are some of the top countries to pressure MBA: the US (United States), Australia, Canada, Germany, New Zealand, and India.
Do I require a GMAT Score to study MBA in the UK?
In many universities, a GMAT score isn’t mandatory to get admission. But keep in mind, a good GMAT score would be a great advantage for you if you do not have a par education qualification. Not only this, but it would help you get a scholarship as well. In the UK, a competitive GMAT score is 600+