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If you're considering pursuing a Master's degree in Management (MIM) at Bayes Business School, it's essential to understand the Bayes MIM fees involved. In this article, we will provide you with a comprehensive overview of the fees associated with the Bayes MIM program, including tuition fees, living expenses, scholarships, and the return on investment (ROI) .
We will also discuss part-time job opportunities and potential earnings for students and the work-hour restrictions for Indian students on a student visa. So let's dive in and explore the Bayes MIM fees for the Bayes MIM program.
Bayes MIM Tution Fees
Tuition fees for the 2023 MIM intake at Bayes are £32,000.
The Bayes MIM fees for the Bayes MIM program varies based on your nationality and residency status. The Bayes Master's in Management (MIM) program has a tuition fee of £28,800 for UK/EU/International students. However, it's important to keep in mind that tuition fees are subject to annual change.
This means that in each subsequent year of study, there may be an increase of 2% in the tuition fee. The university will inform students about any changes to the annual tuition fee in writing before the start of each subsequent year.
Upon receiving an offer to join the program, students are required to pay a deposit of £2,000 within one month as a part of Bayes MIM fees. It's essential to note that this deposit is usually non-refundable unless the conditions of the offer are not met. This deposit serves as a confirmation of the student's intent to enroll in the program.
| Fee Component | Cost |
| Tution fess | £32,000 |
What your tuition fee includes
This Bayes Business School tuition fee covers more than just the academic courses. It encompasses access to the school's state-of-the-art facilities, extensive career services, and a range of extracurricular activities and clubs. This holistic approach ensures that students gain not only academic knowledge but also practical skills and a robust professional network.
NOTE: The tuition fee covers the full length of the 12-month program and is not affected by your chosen exit point.
Navigating Living Expenses in London
Bayes Business School is one of the top MIM colleges in UK. Apart from Bayes MIM fees, it's important to consider the cost of living during your studies.To provide an overview of living expenses for students in the UK, the average cost of living ranges from £1000 to £1600 per month, which includes rent. Here are some key aspects of living expenses you should keep in mind:
1. Accommodation:
It's important to note that living expenses can vary depending on the location and the type of accommodation. Rent is a significant budget item, with the average rental cost in the UK reaching a record high of £1,007 per month.
This average is slightly skewed due to higher rents in places like London. For a single person, the average monthly rent is around £725. Single individuals sharing a room generally have a slightly lower average rent.
2.Food:
The cost of food can vary depending on your lifestyle and preferences. On average, a student has to spend £1,000 annually on food. Hence, it's advisable to budget accordingly and explore different options, such as cooking at home, meal planning, and taking advantage of student discounts at local stores and restaurants to save Bayes MIM fees.
3.Transportation:
Transportation costs in the UK can be significant, with private companies owning most of the public transportation services. In London, a public bus ride costs £1.50 per hour, and the average monthly commuting cost in the city is £186. Trains in the UK are also expensive due to their ownership by private organizations.4.
4.Utilities
Utilities and bills contribute to the overall cost of living as a part of Bayes MIM fees. Fuel costs in the UK average £1,131 per year, accounting for approximately 4% of the average household budget.
The monthly cost of electricity is around £34, while water bills can vary across different locations, with an estimated annual cost of £400 for water and sewerage services. Broadband services in the UK typically cost an average of £27.50 per month, encompassing internet and TV services.
Additionally, it's advisable to consider other living expenses such as insurance, healthcare, mobile phone bills, internet connection, and personal expenses. These costs may vary based on your individual needs and lifestyle choices.
| Expense | Cost (annual) |
|---|---|
| Tuition fees | £28,800 |
| Accommodation | £725 |
| Food | £1000 |
| Transportation | Average monthly commuting cost in London: £186 Public bus ride in London: £1.50 per hour Train fares: Varies |
| Utility | Fuel cost per year: £1,131 Monthly electricity cost: £34 Annual water and sewerage bill: £400 Broadband cost per month: £27.50 |
Scholarships & Financial Aid at LBS
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Bayes Business School offers various scholarships to support students pursuing the MIM program and thus helping them in paying Bayes MIM fees. Bayes Business School has announced several scholarships for the 2023 intake. Some of these scholarships include:
- Stelios Scholarship: The Stelios Scholarships offer financial support to students from the UK or Greece, covering full Bayes MIM fees.
- Clélia Haji-Ioannou Scholarships: These scholarships are available to students from Cyprus and cover full tuition fees.
- Haberman Fund: The Haberman Fund offers scholarships to students from low-income backgrounds, covering full tuition Bayes MIM fees.
- The Matrona Michael Xylas (MMX) Scholarship: This scholarship is awarded to students from Cyprus and covers full tuition fees.
- The Iain Allan Bursary: The Iain Allan Bursary provides financial support to students from Scotland, covering full tuition fees.
- The Wael Khatib Scholarship supported by Lockton MENA Ltd: This scholarship is available to students from the Middle East and North Africa region, covering full tuition fees.
- The Worshipful Company of Insurers Scholarship: This scholarship is open to students interested in insurance-related careers and covers full Bayes MIM fees.
- The Boyle-Rodney Scholarship: The Boyle-Rodney Scholarship offers financial support to students from Jamaica, covering full tuition fees.
- The Navarino Scholarship: This scholarship is available to students from Greece, covering full tuition fees.
- The Nick Maughan Foundation Scholarships: These scholarships offer financial assistance to students from the UK, covering full tuition fees.
Financial aid & loan options
The return on investment (ROI) of pursuing the Bayes MIM program can vary based on individual circumstances and career goals. The MIM program equips students with the necessary knowledge and skills to pursue careers in various industries and sectors. Graduates of the Bayes MIM program have gone on to work in fields such as consulting, finance, marketing, entrepreneurship, and more.
It's important to research and evaluate the potential career opportunities and earning potential associated with your chosen field of interest. Networking, internships, and career development services offered by Bayes Business School can also contribute to enhancing your career prospects and potential ROI.
Opportunities for Part-Time Work
While studying at Bayes Business School(one of the best MIM Colleges in UK), students may consider part-time job opportunities to supplement their income, pay their Bayes MIM fees and gain work experience. The UK has specific regulations regarding the number of hours international students can work during term time.
As of my knowledge cutoff in September 2021, international students in the UK can work up to 20 hours per week during term-time and full-time during vacations.
When it comes to part-time jobs in the UK, students have several options to explore. The Bayes MIM program itself offers on-campus roles like research assistants, teaching aides, library assistants, and student ambassadors.
For those interested in the hospitality industry, opportunities as waiters, bartenders, or chefs in restaurants and bars are available. Cafes also hire students for customer service roles which can help in paying their Bayes MIM fees.
The retail sector provides part-time positions in supermarkets, departmental stores, and exclusive boutiques, offering flexibility and potential career growth. Tutoring is a great way for Indian students to help their peers while deepening their knowledge of a subject or learning a new language or instrument.
Freelancing platforms like Fiverr and Upwork allow students to monetise their skills in content writing, graphic design, and web development. It's crucial to prioritise academic performance and consult the university career services office for job opportunities and visa regulations while considering the Bayes MIM fees and program
Understanding the legalities
It's essential to be aware of the legal aspects of working in the UK as an international student. Adhering to visa work-hour restrictions is crucial to maintain your student status. Here are the stipulations governing Indian university students in regard to pursuing an MBA from UK from their alma mater:
- Students can work up to 20 hours per week during term time
- Students can work full-time during vacations
- Students can take up part-time jobs, internships, and work placements while studying
- The minimum wage for students aged 18-20 is £6.56 per hour and for those aged 21 and over, it is £8.36 per hour
Students are prohibited from engaging as professional athletes or coaches. Students must possess a valid student visa and must be enrolled in an accredited course at an official institution to avoid breaching UK immigration laws
Conclusion
The Bayes Master's in Management program offers a valuable opportunity to develop business acumen and gain essential skills for a successful career in management and related fields. While considering the financial aspects, it's important to carefully evaluate the Bayes MIM fees, living expenses, and available scholarships to make an informed decision.
Remember to visit the official Bayes Business School website or contact the admissions office for the most accurate and up-to-date information regarding the program, Bayes MIM fees, and available financial aid options.
