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Are you considering pursuing an MBA in the United Kingdom? As a business development manager, this course can offer you a great opportunity for personal and professional growth. However, before embarking on this journey, it's important to know how MBA Cost in UK.
The cost of MBA in UK varies depending on several factors such as location and business school. According to Financial Times, Imperial College London has the highest MBA tuition fees in the UK. On the other hand, Ulster University offers a more affordable program compared to other business schools in London.
MBA Cost in UK :Tution Fees
The tuition fees for pursuing an MBA in the United Kingdom vary depending on the business school and program chosen. On average, MBA cost in UK can range from £20,000 to £40,000 or more for the entire duration of the program, which typically spans one to two years.
It's important to note that these figures are indicative, and prospective students should research specific universities and programs for accurate and up-to-date information. Additionally, some prestigious business schools may have higher tuition costs.
Top MBA school Fees
The tuition fees for top MBA schools worldwide can vary significantly, with renowned institutions often commanding higher costs. Generally, pursuing an MBA at a prestigious business school is considered a substantial investment in one's education and career.
These fees typically encompass the academic program, access to facilities, and various resources provided by the institution. The exact figures can range from tens of thousands to over a hundred thousand dollars for the entire duration of the program.
| MBA Colleges in UK | MBA Tuition Fees |
| London Business School (LBS) | £115,000 |
| Saïd Business School (University of Oxford) | £117,080 |
| University of Cambridge Judge Business School | £69,000 |
| Imperial College of Business | £67,500 |
| University College London | RMB 418,000 |
| Bayes Busienss School | £69,000 |
| Warwick Business School | £53,750 |
| Alliance Manchester Business School | £48,000 |
| Business School • Durham University | £37,500 |
| Lancaster University Management School | £39,000 |
| Durham University | £37,500 |
| University of Edinburgh | £40,900 |
Cost of MBA in UK: Living Expenses
Studying for an MBA in UK will cost you not only university fees but also living expenses, as part of the cost of MBA in UK cost. The costs of housing, food, transportation, and social activities will all be included. As with tuition fees, living costs vary depending on where you live in the UK.
Most living expenses are determined by your location in the UK. Clearly, living in a metropolitan area is more expensive than in a rural or peripheral region. However, studying MBA in London is without a doubt the most expensive city in the world for international students.
- Accommodation - is a significant aspect to consider when pursuing an MBA in the UK
- Food - was an variable and most significant source in the cost of daily expenses.
- Transport - Transportation costs are a crucial consideration for MBA students in the UK.
- Utilities - costs are a significant component of the overall living expenses for MBA students in the UK
The cost of living for MBA students in the UK varies significantly between cities, with London being the most expensive. Here's a general breakdown of monthly living expenses:
| Expense | Cost Range (Monthly) |
| Accommodation | £500 to £1,500 |
| Food | £200 to £400 |
| Transport | £100 to £150 |
| Utilities | £100 to £150 |
Financial Aid options MBA Cost in UK
Pursuing an MBA is undoubtedly a valuable investment in your future, but it often comes with a significant price tag. Fortunately, there are several strategies and approaches that can help you mitigate the financial burden associated with earning your MBA degree.
In this guide, we will explore five effective ways to reduce the program of MBA Cost in UK, allowing you to attain your academic and career goals without breaking the bank. Whether you're a prospective student or a current MBA candidate, these tips can help you make the most of your educational journey while keeping your finances in check.
1. Scholarships
One of the most effective ways to lower the cost of MBA in UK is by seeking out scholarships and financial aid opportunities. Many universities and business schools offer scholarships based on merit, need, or specific criteria. Research and apply for as many relevant scholarships as possible to ease your financial load.
2. Assistantships and Part-Time Work
Considering part-time work or research assistantships within your university can be a smart choice for international students. These roles not only provide you with valuable experience but can also come with tuition waivers or stipends, significantly reducing your overall expenses while gaining practical skills.
What's more, pursuing an MBA in UK can open doors to lucrative job opportunities after graduation, enabling you to explore the potential for a rewarding career with an attractive MBA salary in UK.
3. Assistive Loan
Loan to fund your MBA in the UK is a common practice among students seeking financial support for their education. Various financial institutions, both public and private, offer student loans specifically designed to cover tuition fees, living expenses, and other associated costs.
Scholarship
| Scholarship | Amount Awarded |
| Chevening Scholarship | £18,000 |
| Inlaks Scholarship | £72,000 |
| GREAT Scholarship | £10,000 |
Loan in UK
| Loans | Description |
| Lendwise | Lendwise is a specialist loan provider based in London (UK) and regulated by the Financial Conduct Authority of the UK. |
| US Federal Aid | London Business School participates in the US Federal Student Aid Title IV loan scheme, as a recognised foreign school. |
| Prodigy Finance | Student loans for an international masters education. |
Part Time work
Full-time students in the UK can work up to 20 hours a week during the semester and full-time during university breaks, which offers a great opportunity to gain practical experience and potentially improve their prospects for MBA jobs in UK after graduation.
In contrast, students studying full-time below a degree level are limited to working just 10 hours a week. This work limitation is designed to ensure that students have enough time to focus on their studies while still allowing them to earn income and gain work experience in their field.
| Jobs | Average Salary ( 20 hours ) |
| Teaching Assistant | £ 230 |
| Event Planner | £ 280 |
| Library Assistant | £ 239 |
| Barista | £ 210 |
| Tour Guide | £ 242 |
Top Universities Offering Affordable MBA Cost in UK
If you're considering pursuing an MBA in the UK, one of the most important factors to consider is cost. While top business schools like Cambridge and Oxford offer world-class MBA programs, they can come with a hefty price tag.
Fortunately, several universities in the UK offer affordable MBA programs without compromising on quality, and many of these programs are available without requiring GMAT scores, catering to a broader range of applicants under the "MBA in UK without GMAT" category.
Durham University
Durham University is consistently ranked among the top 10 universities in the UK for business studies. The university's full-time MBA program is designed to prepare students for leadership roles in a variety of industries, including finance, consulting, and marketing.
One of the biggest advantages of Durham's MBA program is its affordability. The total MBA cost in UK of tuition for international students is around £28,000 - significantly less than what you would pay at other top universities like Cambridge or Oxford. Despite its lower cost, Durham's MBA program offers excellent career prospects for graduates, with alumni working at companies like Deloitte and PwC.
Aston University
Aston University is another great choice if you're looking for an affordable MBA program in UK. The university's full-time MBA program takes just 12 months to complete and covers a wide range of topics related to business management and strategy.
What sets Aston apart from other universities is its focus on practical learning experiences. Students have access to real-world case studies and simulations that allow them to apply their knowledge in a hands-on way. With a total cost of around £24,000 for international students, Aston's MBA program represents excellent value for money.
City University
City University offers an affordable option if you want to pursue an MBA while living in London. The university's Cass Business School has been ranked among the top 40 business schools worldwide by both Financial Times and Bloomberg Businessweek.
City University's MBA program is designed to help students develop a deep understanding of business principles and gain practical skills that they can apply in their careers. The total cost of tuition for international students is around £38,000, making it one of the more affordable MBA programs in London.
Lancaster University
Lancaster University is consistently ranked among the top business schools in the UK. The university's full-time MBA program takes just 12 months to complete and covers a wide range of topics related to global business management.
What sets Lancaster apart from other universities is its emphasis on sustainability and responsible business practices. Students learn about how businesses can operate in an environmentally-friendly way while still achieving financial success. With a total cost of around £28,000 for international students, Lancaster's MBA program offers excellent value for money compared to other top-ranked business schools.
Oxford University
While Oxford may be known for its prestigious reputation and high costs, there are several options for pursuing an affordable MBA at this top-ranked university. For example, the Saïd Business School offers an Executive MBA program that takes just 21 months to complete and has a total cost of around £69,000 - much less than what you would pay for a traditional full-time MBA.
Despite its lower cost, Oxfords MBA program still provides students with access to world-class faculty members and networking opportunities with alumni working at top companies like McKinsey and Goldman Sachs.
Affordable MBA Courses in UK
If you're considering pursuing an MBA in UK, one of the most significant factors to consider is cost. While some universities offer expensive MBA programs, there are also cheaper options available. However, before making a decision solely based on MBA cost in UK, it's important to weigh the benefits and drawbacks of opting for a cheap MBA course.
| Benefits | Drawbacks |
| Affordability | Limited Resources |
| Cost-Effective Option | Potential Quality Concerns |
| Opportunity for Skill Enhancement | Less Prestigious Institutions |
| Flexibility in Learning | Limited Networking Opportunities |
| Suitable for Specific Career Goals | Potential Negative Perception |
An MBA in UK is a substantial investment in your future, but it doesn't have to come with an exorbitant price tag. The UK offers a range of affordable MBA programs that can provide a top-notch education without crippling your finances. When choosing the right program, consider your career goals, the program's focus, and the potential for scholarships. With careful planning, you can unlock the doors to a successful career while keeping your financial future in check.
Conclusion
In conclusion, pursuing an affordable yet valuable MBA program is possible if you do your research thoroughly. We encourage you to explore different options before making a final decision. Remember that investing in your education can have long-term benefits for your career growth and earning potential.
