The UK is an attractive study destination for international students willing to pursue an MBA. This article provides complete insights about the fee structure of the top MBA colleges, cost of living in the UK, low-cost MBA colleges, etc.
Students planning to study MBA in the UK must be aware of the MBA in UK fees structure. The cost of studying an MBA program in the UK ranges from 31,450 GBP to 87,900 GBP over the course of 12-21 months. The average fee for an MBA in the UK is between 29 lakhs and 81 lakhs for an Indian student.
There are more than 130 business schools in the UK that offer MBA programs in various disciplines, including economics, international business, health administration, etc. In order to be admitted to a B-school in the UK, you must have a bachelor's degree in a relevant discipline, GMAT scores, and work experience (not mandatory). Read through this article to know about the MBA in UK fees structure, top B-schools, low-cost MBA universities, etc.
Top MBA Colleges in UK with Fees Structure
According to the QS Global MBA Rankings 2021, there are 9 UK universities that rank among the top 100 business schools of the world. The table given below gives an overview of the top MBA colleges in the UK, along with their fees structure:
| Universities | Name of the Business School | QS Global MBA Rankings 2021 | MBA Fee (INR) |
|---|---|---|---|
| London Business School | - | 7 | 74,20,000 |
| University of Oxford | Said Business School | 16 | 50,22,000 |
| University of Cambridge | Cambridge Judge Business School | 17 | 49,00,000 |
| Imperial College London | Imperial College Business School | 22 | 45,16,000 |
| University of Warwick | Warwick Business School | 34 | 34,14,000 |
| University of Manchester | Alliance Manchester Business School | 48 | 37,14,000 |
| City, University of London | Bayes Business School | 75 | 37,14,000 |
| Cranfield University | Cranfield University School of Management | 79 | 33,00,000 |
| Durham University | Durham University Business School | 84 | 31,90,000 |
London Business School
One of the top-ranked business schools in the UK, the London Business School is among the list of triple-accredited business schools of the world. Its MBA program has been ranked 2nd in the world by the Financial Times 2021. The average duration of the course is 15-21 months, and some of the major programs include a full-time MBA, Executive MBA, Global Executive MBA, and many more. LBS has a graduate employment rate of 90%, and students can select from more than 80 electives for MBA.
Students would get an opportunity to enhance their practical experience while gaining skills to compete, succeed, and thrive in the global job market through the MBA program at LBS. It requires candidates to have a good amount of work experience (5 years approx.) to be eligible for admission. However, students with less than three years of work experience may also be considered if they have an excellent academic record.
Read More: London Business School
University of Oxford
The MBA program at the University of Oxford is offered by the Said Business School. It is designed to prepare future business leaders to tackle the global challenges of the 21st century. Said Business School has an acceptance rate of 20%, making it a highly competitive business school. Students who complete an MBA at this school get a salary package up to 140,641 GBP and are hired by companies like Google, Deloitte, Amazon, Microsoft, and many more.
Students need to have academic transcripts, GMAT/GRE scores, English language test scores; minimum of 2 years work experience, online application, personal statement, 2 references, updated CV, etc., for getting admission into the MBA program of the Said Business School.
Read More: University of Oxford
University of Cambridge
The University of Cambridge offers an MBA program through its Cambridge Judge Business School. The QS World University Rankings, 2021 ranked Cambridge's EMBA program ninth in Europe. A 12-month MBA program is offered at Cambridge Judge Business School. There are five intake seasons every year, and the application fee for the program is 150 GBP (15,500 INR).
It has been found that 85% of students received job offers within 3 months of completing their MBA from the CJBS. The average base salary of an MBA graduate is approximately 67,000 GBP. Students must have a UG degree with a minimum of 60-70% marks, GMAT/GRE scores, UK student visa, professional letters of recommendation, relevant work experience, statement of purpose, proficiency in English, proof of financial support, etc. for securing their seat in the Cambridge Judge Business School.
Read More: University of Cambridge
Imperial College London
The Imperial College Business School holds a triple accreditation crown (AACSB, AMBA, EQUIS). Students from all over the world can apply for its full-time MBA as well as three part-time MBA programs. Additionally, the school offers weekend MBA programs, global online MBA programs, and executive MBA programs. However, its MBA program is quite competitive, and candidates are chosen based on an in-depth analysis of their applications.
The duration of the MBA program at Imperial College London is 12 months. Almost 90% of their graduates are placed within three months of graduation, with some of their leading employers including JP Morgan, Deutsche Bank, Barclays Investment, and many more. Financial Times has ranked the school #44 in the world for a full-time MBA in 2021. It has also been ranked #9 in Europe for full-time MBA by QS Rankings.
Read More: Imperial College London
University of Warwick
Warwick Business School offers full-time, executive, and distance learning MBA programs at the University of Warwick. According to the Economist, the Warwick Full-time MBA ranks 1st in the UK and 17th in the world, fostering entrepreneurial, creative, and effective leaders. The school provides a 12-month MBA program that is innovative and offers business insights with practical applications.
Students need to have GMAT scores (minimum 660), English language proficiency proof, application essay, 2 reference letters, at least 3 years of relevant work experience, and an updated resume in order to be considered by the Warwick Business School. Students are advised to check the official website for complete details.
Read More: University of Warwick
University of Manchester
Alliance Manchester Business School offers MBA programs for 12, 15, or 18 months. International students are provided with career services, including connections to alumni networks by the university. The Manchester MBA has a global reputation, offering skills and knowledge in all aspects of business and management.
This is one of the most practical MBA programs in the world, as students will be allowed to take 3 consultancy projects with real clients. The Financial Times has ranked it at 4th position in the UK in 2021. Alliance Manchester Business School is also one of the triple-accredited business schools in the UK.
Read More: University of Manchester
City, University of London
The City University of London offers a 12-month MBA program through its Bayes Business School (formerly known as Cass Business School). Students will get an opportunity to acquire new skills and knowledge through intensive learning and practical applications. The school hosts several lectures, live projects, workshops, and expeditions.
Other than the full-time MBA, Bayes Business School offers an Executive MBA and a modular Executive MBA. The eligibility requirements of the MBA program include a GMAT score of 600+, 2 references, personal statement, updated resume, English language, and financial sufficiency proof, 3-6 years of work experience, etc.
Cranfield University
The Cranfield University School of Management offers a full-time MBA program that focuses on practical learning and leadership development. The program consistently ranks among the top MBA programs in the world. As part of this program, students will be evaluated through exams, presentations, and written projects
This 12-month program is designed for professionals with a minimum work experience of three years. There are two main parts to the program. The first part consists of 14 core management modules involving a group consultancy project. While the second part has three additional modules that include an International Business assignment.
Read More: Cranfield University
Durham University
There are a number of MBA programs at Durham University's Business School, including full-time, executive, part-time, and online options. The duration of the program is around 12-18 months. Durham's MBA program equips you with the most important skills to succeed in the business world: analytical skills, excellent communication skills, and global awareness.
The university has strong ties with a number of leading organizations, which gives it access to the dynamic commercial landscape. According to the Financial Times Global MBA Rankings 2021, it ranks 8th in the UK, 19th in Europe, and 74th worldwide.
Read More: Durham University
Eligibility Requirements to Study MBA in the UK
For most of the top business schools in the UK, the general eligibility criteria for MBA programs remain the same. However, there may be differences in country-specific requirements between institutions. The eligibility criteria to study MBA in the UK are listed below:
- A Bachelor’s Degree with at least 50-60% marks
- GMAT Scores (most universities require a 600+ score)
- Minimum 2 years of work experience (not mandatory)
- English language proficiency scores (IELTS- 6.5+, TOEFL- 95+)
- An updated CV/Resume
- 1-3 letters of recommendation
- Statement of Purpose
- Proof of financial sufficiency
- A valid passport
- Student visa
Why Pursue MBA in the UK?
One of the most popular study destinations for international students, the UK offers high-quality MBA programs that help students develop logical and lateral thinking skills, along with exposure to international markets and a network of global peers. The following are some reasons for pursuing an MBA in the UK:
- There are business schools in the UK that allow students to customize their own programs and choose their own subjects.
- Around ten universities in the UK are listed among the FT business school rankings in 2021.
- A shortage of skilled new managers exists in the UK. The economy of the UK requires 1.9 million skillful executives with new strategies.
- Approximately 55% of tier 2 skilled worker visas were issued to Indians as of September 2018.
- MBA and executive MBA are the two highest paying degrees in the UK, with annual salaries of 133,000 GBP and 116,000 GBP.
- The best MBA universities in the UK have vibrant campuses with students from different nationalities.
- MBA programs are offered full-time, part-time, evening, and via distance learning at top UK universities.
- In the UK, top MBA schools offer career service instructors throughout the academic year to assist students in preparing for interviews and also bring in guest speakers and world leaders to motivate students throughout the academic year.
Cost of Living in the UK
As you now know about the MBA in UK fees structure, you also need to understand the different living expenses that you will incur while studying in the UK. The average annual cost of living in the UK is 11,880 GBP/year. An international student can expect to pay a total cost (living and studying expenses) of 32,310 GBP annually. The detailed information of the monthly expenses of a student while staying in the UK, including the cost of accommodation, transportation, personal expenses, etc., has been provided in this section. However, the costs might vary according to the type of accommodation, city, and lifestyle choices of the individual.
| Particulars | Average Monthly Cost (in GBP) |
|---|---|
| Rent | 450 |
| Food | 200 |
| Mobile Phone | 30 |
| Internet | 40 |
| Stationery Items | 40 |
| Clothing | 75 |
| Laundry | 25 |
| Transportation | 45 |
| Miscellaneous | 25 |
| Total | 930 |
Low-Cost MBA Colleges in UK
Studying in the UK is an expensive affair for international students. However, there are a number of top-notch MBA colleges in the UK that charge a low tuition fee. The table given below contains the list of these colleges, along with the details of their tuition fees:
| University | Fees (in GBP) |
|---|---|
| University of Bedfordshire | 16,250 |
| University of Bolton | 13,950 |
| University of East London | 15,720 |
| University of Suffolk | 16,380 |
| Cardiff Metropolitan University | 10,500 |
| University of Wales, Trinity St. David | 15,000 |
Top Scholarships for MBA in the UK
We are now familiar with the MBA in UK fees structure. The overall cost of living for an Indian student pursuing an MBA in the United Kingdom is between 59 Lakhs and 1.11 Cr, including tuition fees. To pay a hefty amount like this, it is very important to have financial support. To ease out this financial burden, there are various scholarships available for international students in the UK. A few of these scholarships are listed below, along with their benefits:
- Commonwealth Masters Scholarships- travel allowance, partial tuition fees, basic living expenses
- Commonwealth Fellowship Plan- covers entire tuition fee
- Global Study Awards- £10,000
- Inlaks Scholarships- full tuition fees
- Chevening Scholarships- tuition fees, monthly stipend, travel expenses, visa application cost
- Great Scholarship- covers entire tuition fees
MBA in UK ROI
The top MBA colleges in the UK provide a great return on investment. According to Financial Times, the following is the percentage increase in salary of MBA graduates at popular UK business schools:
| University | % Salary Increase |
|---|---|
| London Business School | 105 |
| Cambridge Judge Business School | 95 |
| Said Business School | 103 |
| Warwick Business School | 78 |
| Alliance Manchester Business School | 103 |
| Bayes Business School | 93 |
| Imperial College Business School | 64 |
| Durham University Business School | 107 |
| University of Edinburgh Business School | 68 |
Jobs After MBA in the UK
Graduates of the top UK business schools receive a plethora of employment opportunities at internationally renowned companies. There are many major recruiters for MBA students in the UK, including Amazon, Boston Consulting Group, JP Morgan, Goldman Sachs, Apple, Bain and Company, McKinsey, etc. Some of the major job roles offered to students after completing an MBA in the UK are shown below:
| Job Designation | Annual Average Salary (in GBP) |
|---|---|
| Assistant BD Manager | 131,000 |
| BD Manager | 184,000 |
| General Manager | 173,000 |
| Manager | 204,000 |
| Project Manager | 134,000 |
| Planning Director | 202,000 |
