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Key Takeaways:
- The total University of Cambridge MBA fees for the academic year 2024 amount to approximately £64,000.
- Students should budget an additional £15,000-£18,000 per year for accommodation and living expenses in Cambridge.
- Cambridge offers a variety of scholarships, including the Cambridge MBA Scholarship which can cover up to 50% of tuition fees.
- Including living expenses, the total cost of attending the Cambridge MBA can range between £79,000-£82,000.
The University of Cambridge MBA fees reflect the program's world-class reputation and the opportunities it offers for career advancement. Understanding the full cost is essential for applicants planning their finances. In this guide, we will break down the tuition fees, additional costs, and explore scholarship options that can help mitigate the financial burden, ensuring you are fully prepared for the investment in your future.
Understanding the Cambridge MBA Fees
Tuition fees for the 2025 MBA intake at Cambridge are £74,000. There is an additional application fee of £165.
The Cambridge MBA program is among the top-ranked MBA programs globally, attracting students from all corners of the world. As with any highly regarded program, the University of Cambridge MBA fees can be significant. Therefore, it is crucial to understand the costs involved in making an informed decision.
For the 2023-2024 academic year, the tuition fees for the Cambridge MBA program are £69,000. This University of Cambridge MBA fees includes all course materials and access to the career development services offered by the institution.
For detailed analysis of Cambridge fees, please refer Fees and Funding.
Living Expenses for Cambridge MBA Candidates
In addition to tuition fees, students must consider living expenses while studying in Cambridge. On average, students can expect to spend around £17,668 per year on living expenses, including accommodation, food, transportation, and utilities.
1. Accommodation: Accommodation in Cambridge can be quite expensive, with an average annual cost of around £14,000. However, there are various options available, including university housing and private rentals, which can help reduce costs.
2. Food: Students should be mindful of their budget when looking into food expenses. With an average expenditure of around £200-£300 per month, it's vital to make sure that they have access to adequate and affordable options on campus
3. Transportation: Transportation costs vary depending on the mode of travel, with public transportation and cycling being the most popular and affordable options. A monthly bus pass costs around £62, while cycling is free and convenient.
4. Utilities: Utility costs typically range between £1,000-£2,000 per year, depending on the size and type of accommodation.
Here is a table for the breakdown of the University of Cambridge MBA Fees:
| Expense | Cost (annual) |
|---|---|
| Accommodation | £15,000 |
| Food | £2,500 - £3,700 |
| Transportation | £750 (bus pass) or Free (cycling) |
| Utilities | £1,000 - £2,000 |
Maximizing Financial Support: Scholarships for Cambridge MBA Students
Understanding the University of Cambridge MBA fees is crucial. Explore available scholarships to ease the financial burden of fees and plan your investment in this transformative educational journey.
Cambridge Judge Business School provides a range of scholarships to support students financially. Admitted students are automatically considered for all awards, and the selection criteria depend on the scholarship. Some of the scholarships available are:
Rowan Williams Cambridge Studentship
Value: University tuition fee, annual stipend for a single person and other allowances
No. of Awards: Multiple awards
Eligibility: Applicants should be from an area of instability or zone of conflict and/or have been at risk of discrimination, persecution, suffering, violence or other abuse of their human rights. It is up to the applicant to determine if they feel they meet this criteria.
Global-Asia Management Programme
Value: Tuition fees and a monthly living allowance
No. of Awards: Multiple awards
Eligibility: This scholarship is open to Singapore citizens with the potential to become future leaders and partners in top companies, who are willing to complete an internship as well as a two-year service commitment with one of EBD’s partner companies.
Cambridge Society Bombay Scholarship Fund
Value: Up to Indian rupees 250,000
No. of Awards: Multiple awards
Eligibility: This scholarship is open to candidates domiciled in the Indian states of Gujarat, Maharashtra and Goa, who have secured admission at a College at the University of Cambridge for undergraduate, postgraduate or short duration courses.
Commonwealth Scholarship and Fellowship Plan (CSFP)
Value: Tuition fees and various expenses
No of awards: Multiple awards
Eligibility: This scholarship is open to Commonwealth citizens and British protected persons permanently resident in any Commonwealth country other than the United Kingdom who are under 35 years of age.
Prodigy Finance scholarships
Value: $5,000
No. of awards: 5
Eligibility: Applicants should be: looking to study their masters in UK during the 2024-2025 academic year, seeking financial support to fund their education, residing in a Prodigy Finance supported regions
or willing to share their story on Prodigy Finance platforms.
Cambridge Judge Dean’s Scholarship for Outstanding Academic Achievement
Value: £15,000
No. of Awards: 3
Eligibility: Your academic record will be particularly outstanding and your career to date has made the most impact in your sector. In addition, your attitude and outlook are deemed to be reflective of the values and brand of the business school community and the Cambridge Judge Dean.
Factors we will consider in awarding the scholarship will be: GMAT score, Undergraduate academic performance.
Please refer Scholarships and Loans | University of Cambridge for detailed analysis of scholarships.
Best Part-Time Jobs and Earnings Potential
International students pursuing the Cambridge MBA colleges in UK have the option to work part-time to help manage their finances. The British government allows international students to work up to 20 hours per week during term time and full-time during holidays, with an average wage of around £12 per hour. Here are some part-time job options that students can consider to help offset their living expenses:
1. On-Campus Employment
The Cambridge MBA program offers on-campus employment opportunities such as research assistants, teaching assistants, library assistants, and student ambassadors. These positions can provide valuable experience while offering flexible hours that fit around your academic schedule.
2. Hospitality Industry
The hospitality sector is a significant employer of part-time staff, with many opportunities available in restaurants, bars, and cafes. Students can find work as waiters, bartenders, or chefs, or in other roles that involve customer service.
3. Retail Sector
Part-time work is also available in the retail sector, with positions available in supermarkets, department stores, and smaller boutique shops. Students can gain experience in customer service, sales, and other skills that could be useful in their future careers.
4. Freelancing
Students can monetize their skills by offering freelance services on platforms such as Fiverr and Upwork. Freelance work can include content writing, graphic design, and web development, among other skills.
5. Tutoring
Tutoring is an excellent way for students to earn money while sharing their knowledge and expertise. They can offer their services to fellow students or local residents, helping them with their studies.
The ROI of Cambridge MBA Fees
If you're interested in pursuing an MBA, it's important to consider the cost involved and whether it will provide a good return on investment (ROI). Luckily, the Cambridge MBA program is known to offer a promising ROI.
While the total University of Cambridge MBA fees is around £69,000, graduates tend to earn an excellent salary after completing the program. This means that the investment can be worth it in terms of potential career advancement and financial stability.
The program also provides graduates with access to various career opportunities in industries like finance, consulting, and technology. Additionally, the program's alumni network can offer valuable connections to help graduates secure high-paying jobs and achieve their career goals.
Overall, if you're considering investing in your future through an MBA program, the Cambridge MBA program could be a wise choice.
Related Blogs:
- University of Cambridge MBA GMAT
- University of Cambridge MBA Salary
- University of Cambridge MBA Essays
- University of Cambridge MBA Interview Questions
- Is University of Cambridge MBA Worth It?
Conclusion
In conclusion, choosing the Cambridge MBA is a smart step toward a brighter future. While the university of cambridge mba fees and living costs might seem high, the quality of education, career opportunities, and the return on investment make it worth it. There are also scholarships and part-time work options to help manage the expenses. As you consider the costs and benefits, remember that the Cambridge MBA is more than just a degree; it’s a life-changing experience that will shape your future. Take the leap, invest in yourself, and open doors to endless possibilities with one of the top MBA colleges in the UK.
