With more than 395 universities, the United Kingdom ranks as the second most important foreign student educational hub. With more than 5 lakh international students welcomed, the nation offers a wide range of cultural experiences.
The best thing about studying in this nation is that foreign students from various backgrounds who are exposed to a whole new atmosphere forge wonderful ties that aid them in networking. The degrees earned in the UK are respected all over the world and have aided many hopefuls in landing dream careers and even starting their own businesses.
Summary
- You will need the necessary GPA and GMAT score, evidence of your English language ability, and more to study MBA in the UK, but money is the most significant need. The UK may be out of reach for poor and medium-class Indian families as a developed country.
- Thankfully, there are a number of scholarship for MBA abroad available in the UK that can assist you if you find yourself in a tight financial situation and allow you to lower the overall costs associated with finishing the programme.
Many scholarships are available to cover the cost of tuition, living fees, and other associated costs for students - pursuing a Master’s degree. These enable Indian students to afford to attend the best business schools in London, Manchester, or anyplace else in England.
Why an MBA Abroad?
The MBA is thought to be the most sought-after degree when it comes to obtaining a globally recognised one in business and management. Earning an MBA will prepare you for contemporary business difficulties through its demanding projects and curriculum.
Additionally, this curriculum aids in the development of a wider perspective for problem-solving when undertaken on a worldwide scale. Many international students choose the United Kingdom as their preferred study location.
Why MBA for Indian Students in the UK?
One of the most developed economies in the world is the United Kingdom. Universities are created with the intention of giving students the knowledge and skills they need in a certain field. The United Kingdom is a great place to pursue higher education, especially for a master’s degree in business and administration, thanks to a number of important features.
The following are some of the main qualities that make the United Kingdom a good location for MBA study:
Excellent Education: MBA programmes at UK universities blend theoretical and application-based learning to provide students with essential knowledge and abilities. Students receive regular lectures and workshops from well-known business executives, increasing their exposure to and expertise in a particular field while also learning from professional people.
With the exception of a few basic management courses, the majority of MBA programmes provided by UK universities are one-year programmes. This gives students the opportunity to quickly enhance their knowledge while also receiving high-quality education and exposure to other cultures.
Industry Links – Meeting top industry experts and professionals at conferences, events, and lectures hosted by universities is one of the largest benefits of getting an MBA in the UK.
Scholarships – There are a number of financial challenges associated with pursuing an MBA abroad. Many universities in the UK provide scholarship for MBA abroad as a kind of financial aid.
Required Minimum Work Experience: Please don’t let being a fresher discourage you. The diversity of MBA programmes provided in the UK is each tailored specifically to the needs of the students. They offer services for both experienced and inexperienced candidates. Students with little to no job experience can apply to UK universities that do not need it as a requirement for an MBA.
The UK provides a selection of business and management courses for skilled and seasoned professionals that will help them hone their current abilities while staying up to date with emerging market trends.
In light of the fact that many universities, like Oxford, Cambridge, London Business School, and others, hire academics who are active in the field, working in management will undoubtedly help you discover your strong points.
Studying with the top international minds would also enable you to have fruitful brainstorming sessions that would produce brilliant and original ideas from all over the world. It is much more fascinating to examine business procedures because of the enormous diversity present in the nation and the well-chosen minds from across the world that works together to attain a shared goal.
Overall, doing an MBA in the UK would serve as a stepping stone for applicants, enhancing their chances of seeking work in any sector of the economy.
Eligibility
It is not necessary to hold a business or management degree to apply for an MBA in the UK. For overseas students, the application process for MBA programmes in the UK is the same as for other programmes. There is no requirement for a GMAT Score because several universities in the UK even offer MBA programmes without it. Additionally, some universities also provide an MBA without a job history. However, it is advised to apply to well-regarded universities if you want your MBA endeavours to be successful.
The following would be the minimum qualifications to apply to a reputable business school:
- Successful GMAT Exam Score
- MBA essays required by the universities, you select letters of recommendation from your prior academic and professional institutions
- The candidates are called to the university for a face-to-face interview after the admissions committee has approved these documents.
Life in the UK
It is quite simple to give in to the atmosphere of a nation that offers the ideal mix of world cultures. Amazing opportunities arise when people from various origins and current thought patterns come together. It is undoubtedly a memorable experience to try new foods, explore new locations, and meet people with diverse social networks in the cosmopolitan metropolis.
The Cost of Living for Students From India
Another advantage of the shorter duration of MBA programs in the UK is a nearly 50% reduction in the entire cost of tuition and living expenses. The cost of an MBA in the UK may vary depending on the college. The tuition fee may range from £10,000 to £15,000.
Your choice of college location will significantly impact the cost of living. The UK Border Agency (UKBA) states that in addition to the tuition costs for studying in London, you must have a minimum of INR 1.15 Lakh per month to get your visa accepted. You will require INR 1 Lakh per month for locations in the UK other than London. You would typically require between 25 and 30 thousand rupees a week to live anywhere in the nation. It is still only an estimate because your lifestyle will determine the actual price.
Salary and Work Visa
If you have an MBA from one of the top universities in the UK, you may earn up to INR 95 lakh per year working for reputable companies in India. Certain prestigious UK universities support their students by extending their Tier 4 Visas for those who choose to remain in the UK after earning their MBA. This undoubtedly aids in paying back the education loan taken out to fund your studies in the UK and in helping you save some money for your trip home.
The length of the student visa for the UK is 16 months, which is appropriate for a 12-month program. This would assist you in finding employment in the remaining four months, giving you another alternative besides hastily returning to your native country. However, because the requirements for student visas are always evolving, you should always consider the most recent information.
It is advised that you seek assistance from study abroad professionals who are knowledgeable about the most recent business trends and can help you enrol in your preferred course and college in order to stay up to speed on everything related to studying abroad for any course in any part of the world.
Scholarship for MBA Abroad and Financial Aid
Studying abroad costs a lot of money, especially for a globally recognised degree like an MBA. How would you react if you learned that scholarships might help you pay for your education?
Scholarships are given out depending on a variety of criteria. Scholarship for MBA abroad come in two varieties: internal and external. Internal MBA scholarships are provided by business schools, while external MBA scholarships are provided by outside organisations.
As most of us are aware, educational institutions award merit scholarships to students who perform exceptionally well inside the same institution or in the past or who achieved exceptional results on required tests like the GMAT.
Additionally, a Need-Based MBA Scholarship is available to students who demonstrate their commitment to their studies despite their inability to pay for their degree out of pocket. Students from backgrounds that are underrepresented in business are given other MBA scholarships.
1. Commonwealth Masters Scholarships
The UK Foreign, Commonwealth & Development Office (FCDO) is offering the fellowship to applicants from lower and upper-middle-income Commonwealth nations who want to enrol in a master’s programme at any UK university. The scholarship for MBA abroad pays for tuition, supplemental allowances for basic living expenses, and travel to and from the UK.
Eligibility:
A Commonwealth nation’s national or long-term resident
Unable to finance a degree in the UK without a scholarship
Upper second class undergraduate honours degree or better (2:1)
2. Chevening Scholarships
For Indian students seeking MBA fellowships who have top academic records, there is a worldwide scholarship programme called Chevening Scholarships. It is a fully-funded scholarship for an MBA programme in the UK that is based entirely on merit. These awards pay for tuition, airfare to the UK, a visa, and any necessary travel expenses.
Eligibility:
The candidate must hold a bachelor’s degree from an accredited Indian University or an equivalent institution.
Candidates whose English proficiency meets the Chevening standard
At least 2,800 hours or 2 years of related experience
3. The Global Study Awards
The Global Study Awards were established by the British Council as a way to acknowledge that studying abroad in the UK and other nations can be rewarding. It also aims to encourage tolerance and respect for various cultures. For each participant, the maximum award under this program is GBP 10,000.
Eligibility:
The candidate must be at least 18 years old.
To show their English proficiency, students must have the required IELTS score.
4. Charles Wallace India Trust Scholarships
Following a 1981 agreement between the governments of India and the United Kingdom, the Charles Wallace India Trust Scholarships were created. It was initially founded as an English charity, and four trustees currently oversee its operations. As of right now, the organisation has given out over 3,000 scholarships and pays for all genuine scholarship applications’ living costs, international airfares, tuition, and housing.
Eligibility:
The applicant must be an Indian citizen.
They must not have won the same scholarship in the previous five years.
5. Inlaks Scholarship
The Shivdasani Foundation’s Inlaks Scholarship for MBA abroad students pays for tuition, living expenses, and outgoing travel fees. The organisation includes combined scholarship possibilities with Imperial College, the Royal College of Art (RCA), London, and the University of Cambridge and grants up to USD 100,000 (about GBP 73,000). (Cambridge Trust).
Eligibility:
All Indian nationals who have lived continuously in India for at least six months prior to the application are affected.
The candidate’s age should not exceed 30 at any time.
The applicants must hold the necessary degree from an accredited institution.
6. Felix Scholarship
Underprivileged MBA students from India are given a chance to study abroad in nations like the United States, the United Kingdom, Australia, and more, thanks to the Felix Scholarship.
The Felix Scholarship is available from the Universities of Oxford, Reading, and the School of Oriental and African Studies (SOAS), which is a division of the University of London. It includes living expenses, one round-trip ticket, and the full cost of tuition.
Eligibility:
Candidates with a first-class Bachelor’s degree from an accredited Indian University or an equivalent school are eligible to apply.
Students who are prepared to return home when the study term is over
7. Goa Education Trust
The scholarship was established to encourage Goan students to pursue higher education in the UK. It will partially or fully pay tuition costs.
Eligibility:
The applicant must reside in Goa.
Candidates should not be older than 30.
Unconditional year-long offer from a UK university.
8. Dr Manmohan Singh Scholarships
In Dr Manmohan Singh’s honour, St. John’s College established the Dr Manmohan Singh Scholarships. This fellowship is offered to academically gifted Indian students who wish to pursue PhD studies in particular subjects, such as science and technology, economics, and social sciences, at St. John’s College and the University of Cambridge. The utmost focus is given to applications in aerospace engineering and energy studies.
Conclusion
Scholarship for MBA abroad are an excellent method to encourage talented students from India and other nations who would otherwise feel that an MBA in the UK is out of their budget range.
Fortunately, a wide range of organizations are aware of this and conduct scholarship drives to assist worthy individuals in securing a brighter destiny for themselves by providing them with scholarships for MBA in the UK.
We are here to assist you if you also think you deserve to attend one of the best UK institutions. We provide individualised professional counselling to assist students in grasping their opportunities and avoid letting prohibitive course costs stifle their aspirations.
FAQs
1- How can I apply for a full scholarship in the UK?
Anyone can check their full scholarship eligibility by going to the UK Council for International Student Affairs (UKCISA) website.
In addition, if you meet the requirements listed on their websites, you may be eligible for a scholarship for an MBA at one of the best colleges or business schools in the UK.
2- Is there a free MBA program in the UK?
While the majority of your costs are covered by scholarships for MBA in the UK, none of the available bursaries will pay your whole tuition cost for MBA in the UK. But obtaining one of these can be a great way to cut back on overall spending and lighten your financial load.
3- Are MBA programs in the UK affordable for Indians?
Depending on where you apply, the cost of a Master’s in Business Administration programme in the UK might range from INR 25 lakh to more.
The cost will go down if you are awarded a scholarship, but postgraduate students should be ready to fork over a sizeable sum to study in the UK.
4- I have a 700 GMAT score. Can I earn a scholarship?
For the majority of the MBA and MSc programs, applicants with GMAT scores of 700 or above will be given a partial scholarship for MBA abroad covering 40% of the total tuition costs. Low GMAT scores make applicants eligible for minor awards as well.
5- Is an MBA worth it in the United Kingdom?
According to Payscale’s study, MBA graduates are more qualified for senior leadership jobs and make an average salary of over £19k more than their BBA counterparts in the same job titles. Both BBA and MBA graduates in the UK get an average income of £34,729 and £53,787, respectively.
