International students are attending an MBA course in UK universities, more than in any other subject. This comes from the well-known fact that UK universities are global leaders for MBA studies. Some of the greatest minds that the business world has ever seen hold a degree from UK business schools. Given that, it is not hard to choose the UK over other options to get your MBA degree. The decision is the simplest part of the process of achieving your dream. But, you will also need to know what to expect in financial terms.
In addition to providing outstanding education and being an impressive university, the best MBA programs cost in the UK can be a lot. There are tuition fees and other living expenses that you need to cover. If you know what the future in the UK is hiding, you can make an efficient plan which will help you to get through it with ease. Here we read about the cost of MBA courses in UK universities.
How much does an MBA cost in the UK?
It is quite common in all UK universities and courses that the higher the popularity and recognition the higher its cost. Being among the most popular courses in the UK for international students, MBA degree courses are some of the most expensive at the same time alongside medical degrees and natural sciences.
Getting an idea about the best MBA programs in the UK and their cost is very crucial as it can help you adjust your budgetary assets and your academic goals with available options. Let us explore the best MBA cost in the UK .
Cost Of The Best MBA Courses In The UK
University fees are the primary and the biggest financial concerns for foreign students planning to pursue their MBA in the UK. Business schools are independent to set up their fee policies for international students and you can expect to encounter different international fees for MBA courses in the UK.
According to the type of course, most popular study programmes, particularly full-time MBAs and Executive MBA courses in UK universities charge higher fees. These are the popular MBA courses in the UK with duration and average tuition fees:
Universities with the highest fees for MBA
| Name of the MBA course | Duration | Average Tuition Fees |
| MBA Executive | 1 to 2.5 years | £90,000 |
| MBA Entrepreneurship MBA in International Business | 2 years | £87,000 |
| MBA in Finance | 1 year | £12,000 to £65,000 |
| MBA in Accounting | 1 year | £15,000 to £35,000 |
Universities with the lowest fees for MBA
| Name of the university | Average Fees |
| Ulster University | £10,410 |
| Universit of Highlands and Islands | £9,900 |
| London South Bank University | £9,880 |
| University of Gloucestershire | £9,850 |
| Bath Spa University | £9,500 |
| London Metropolitan University | £9,300 |
If you are looking forward to becoming an international student and need assistance with student loans, all you have to do is fill the form in this blog.
Application fee
In addition to semester fees, some MBA schools in the UK also have a one-time application fee that you need to pay when you enter the chosen course. Typically, this fee is not a lot and ranges from £25 to £60. The University of Manchester and the University of Glasgow also charge a one-time application fee from their students.
Best MBA Universities In The UK
When you get admitted to the MBA course in the UK you’ve applied for, you will have to pay an amount called a deposit fee to secure your place in the course. The amount of this fee is set independently by the universities and therefore it changes to a certain degree. Overall, it ranges somewhere between £1,000 to £4,000.
Below is the list of Best MBA universities in the UK:
| Name of the university | Average Fees |
| London Business School | 129,145 |
| University of Cambridge: Judge Business School | 122,135 |
| University of Oxford: Saïd Business School | 110,680 |
| University of Manchester: Alliance Manchester Business School | 95,235 |
| Warwick Business School | 93,820 |
| Imperial College Business School | 91,120 |
| City University of London | 95,775 |
| Durham University Business School | 81,040 |
| Lancaster University Management School | 70,730 |
MBA in UK – Eligibility Criteria
The entry requirements for admission for an MBA in UK may fluctuate based on the university and the chosen research field. Nevertheless, there exist common admission criteria that the majority of universities typically expect from applicants:
| Requirement | Criteria |
| Academic Degree | Undergraduate degree with honours in the related field |
| Minimum GPA | 3.7 on the scale of 4.0 |
| English Proficiency Test Scores | IELTS: 7.0TOEFL: 100 |
| Statement of Purpose | 5000 word personal statement highlighting academic and professional background along with reasons for applying and career aspirations |
| LORs | 2-3 or resumes if gaps taken |
| Research Proposal | 3000 word in the area of the intended research application |
MBA Scholarships For UK
If you’re considering an MBA in the UK, financing your education can be a concern due to the high costs. Fortunately, there are various MBA in the UK scholarships available to assist with tuition and expenses. In the table below, we have discussed the types of scholarships offered by various universities.
| Name of the scholarship | University Offering | Amount |
| The Skoll MBA Scholarship | Said Business School, University of Oxford | |
| The Imperial Business School Women’s Scholarship | The Imperial Business School | 50% of your tuition fee |
| The Cambridge MBA Bursaries | Cambridge Judge Business School | 50% of your tuition fee |
| The Cranfield MBA Diversity Scholarship | Cambridge Judge Business School | 50% of your tuition fee |
| The London Business School Masters in Finance Scholarship | London Business School | 50% of your tuition fee |
MBA Jobs & Salaries For UK
UK MBA graduates enjoy higher salaries than those with only undergraduate degrees, with an average annual salary of £75,000. Salary levels fluctuate based on job roles and experience, with entry-level positions like management trainees or junior consultants averaging around £50,000 annually, while senior roles such as directors or partners can command up to £120,000 per year. These are the various roles offered along with their average salaries:
| MBA Job Profile | Average Salary |
| Business Development Manager | $74,102 |
| Equity Portfolio Manager | $80,049 |
| Finance Manager | $61,511 |
| Human Resources Manager | $51,227 |
| International Business Manager | $45,133 |
Living costs for MBA students in the UK
The cost of living in the UK includes various aspects such as housing, food, transportation, healthcare, and personal expenses. On average, students can expect to spend approximately £14,000 per year to cover these expenses. It’s important to note that the costmay vary depending on individual circumstances and the city in which the student chooses to reside in.
| Particulars | Cost (Monthly) |
| Off-Campus Accommodation | £408 |
| On-Campus Accommodation | £472 |
| Transportation | £65 |
| Food Cost | £360 |
| Utility Cost | £189 |
| Entertainment | £40 |
| Groceries | £28 |
| Clothes | £64 |
| Total Cost of Living with Off Campus Accommodation | £1,154 |
| Total Cost of Living with On Campus Accommodation | £1,218 |
| Annual Cost of Living | £13,848 |
Top Recruiters For MBA In UK
The top B-schools in the UK place their graduates in some of the best companies having an attractive salary package. These are the top recruiters in the UK:
- HSBC
- EY (Ernst & Young)
- McKinsey
- International Business Machines (IBM) Corp
- P. Morgan Chase & Co.
- Hamleys
- Accenture
- Microsoft
Conclusion
The MBA stands as the globally popular postgraduate management degree. What draws the attention of numerous international students to pursuing an MBA in the UK are the promising career prospects and competitive salaries that follow graduation. The United Kingdom has an educational landscape of over 395 universities and holds the distinction of being the world’s second-largest hub for higher education..
FAQs
1. How much is the cost of an MBA in the UK in 2024?
The cost of an MBA in the UK in 2024 is expected to range from £31,000 to £88,000 (INR 3,100,000 to INR 8,800,000) for international students. The exact cost will vary depending on the university and the programme.
2. Is an MBA in the UK worth it for Indian students?
An MBA in the UK can be a valuable investment for Indian students. The UK is home to some of the world’s top business schools, and an MBA from a UK university can open doors to a wide range of career opportunities. Additionally, the UK has a strong economy and a thriving business sector, making it an attractive place to work for MBA graduates.
3. Is a GMAT score mandatory to apply for an MBA course in the UK?
While some UK universities require a GMAT score for MBA admissions, many others do not. Some universities may also accept other standardized tests, such as the GRE or the IELTS. The best way to determine if a GMAT score is required is to contact the admissions office of the specific university you are interested in.
4. Are there any scholarships or financial aid options available for MBA students in the UK?
Yes, the UK government offers MBA scholarships specifically designed for Indian students. You can explore the diverse range of available scholarships on the UKCISA (UK Council for International Student Affairs) website for more details and application information.
5. Can international students access financial assistance for MBA programs in the UK?
Yes, international students can access financial assistance for MBA programs in the UK. The same scholarships and financial aid options that are available to domestic students are also available to international students. Additionally, some scholarships are specifically targeted at international students.
We hope you enjoyed this blog. To know more about related fields, do check out our other blogs.
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