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MBA Cost in UK

Cost & Finance Related to MBA in UK: How to Manage?

Understanding the MBA cost in UK is crucial for prospective students planning to pursue this prestigious degree. The financial investment required for an MBA in the UK can be substantial, but the potential return on investment makes it a worthwhile consideration.

This guide provides a detailed breakdown of the costs associated with MBA programs in the UK, helping you to budget effectively and make informed decisions about your education and future career.

MBA Cost in UK :Tuition 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 £53,203
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 

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 cost in UK. 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.

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

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 MBA cost 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

mba in uk cost

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.

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.

What do you think the cost of living in the UK?

The average monthly cost of living for a family of four in UK is $3,135 (£2,268) without rent. The average monthly living expense for a single person or student in UK is $900 (£651) without ren

 

How to manage living costs in the UK?

To manage living expenses while studying abroad, you can create a budget, find affordable accommodation options, cook your meals instead of eating out, take advantage of student discounts, use public transportation or use bicycles instead of relying on expensive taxis

Why choose the UK?

Courses in the UK education system are shorter and more intensive than in many other countries, which means you'll graduate sooner without compromising on quality. While you can complete an undergraduate program in three years, you'll be able to finish a graduate program or post-graduation in the UK in just one year.

Is the UK very expensive?

The UK is an expensive country to live in for a lot of international students. However, the major reason for high living expenses is based on the city in which they reside. There are certain cities in the UK which are more expensive to live in than others

Know Your Author
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Rohit Rajaram
Study Abroad Expert
Rohit is a results-driven individual with a strong background in Education Mentorship, Program Management and Business Development. Holding a Master's degree in Management from ESCP Business School in Paris, Rohit combines academic excellence with extensive industry experience. Throughout his career, Rohit has consistently delivered exceptional results, driving sales, increasing turnover, and achieving targets. Known for his strategic acumen, Rohit formulates and executes successful business strategies, enhancing operational quality, customer satisfaction and key bottonline drivers. As the Co-Founder of MiM-Essay, a leading Early Career Degrees application consulting company, Rohit has successfully mentored over 10,000+ students, enabling them to secure admissions in top-ranked schools worldwide with significant scholarships. Under his leadership, the company has maintained high-quality service and exceptional client satisfaction rates. With expertise in analytics, product development and business excellence, Rohit has successfully driven the success of various initiatives. Committed to constant innovation, he is expanding the company's offerings by introducing digital and technology-powered products for comprehensive education solutions.
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