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Deciding to pursue a Master of Business Administration (MBA) degree can be an exciting and transformative experience. However, it's also a significant financial investment. With tuition fees, living expenses, and potential lost income, it's crucial to thoroughly research the costs involved before committing to a program. In this blog post, we'll take a closer look at the University of Cambridge MBA fees associated.
Cambridge MBA Fees
Tuition fees for the 2025 MBA intake at Cambridge are £69,000. There is an additional application fee of £165.
Cambridge Judge Business School's 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.
Living Expenses in Cambridge
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.
| Expense | Cost (annual) |
|---|---|
| Accommodation | £15,000 |
| Food | £2,500 - £3,700 |
| Transportation | £750 (bus pass) or Free (cycling) |
| Utilities | £1,000 - £2,000 |
Scholarships for Cambridge MBA
Cambridge Judge Business School provides a range of scholarships to financially support students. Admitted students are automatically considered for all awards, and the selection criteria depend on the scholarship. Some of the scholarships available are:
- The Wider Cambridge MBA Scholarship for Regional Diversity
- The Wider Cambridge MBA Scholarship for Professional Diversity
- The Forté Foundation Fellows Scholarship (available for women only)
- The ROMBA Fellowship for the LGBTQIA+ Community
- The Boustany Foundation MBA Scholarship (awarded once every two years)
- The Cambridge Judge Dean’s Scholarship for Outstanding Academic Achievement
- The Cambridge MBA Scholarship for Technology Advancement
- The Cambridge MBA Scholarship for Entrepreneurs
- The Cambridge MBA Military Veterans Scholarship
- The Cambridge MBA Professor Nick Oliver Scholarship for UK Nationals.
Cambridge MBA Fees vs ROI
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.
Part-Time Jobs and Potential Earnings
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.
Conclusion
In conclusion, the Cambridge MBA program offers valuable education that can help students succeed in their careers. While the University of Cambridge MBA fees can be significant, scholarships and part-time work opportunities can help alleviate the financial burden. Prospective students should consider all costs and opportunities before committing to the program and take advantage of the various part-time job opportunities available to international students in the UK.
