MBA in Finance in UK: A Complete Guide to Pursuing MBA in Finance in UK for International Students Image
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MBA in Finance in UK: A Complete Guide to Pursuing MBA in Finance in UK for International Students

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Yocket Editorial Team
9 mins read
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If you are good with money management, negotiations and investments then an MBA with a specialization in finance is the right degree for you. MBA Finance in the UK is a multifaceted degree program that attracts students from a variety of academic backgrounds and develops a critical understanding of concepts and techniques of financial and risk management.

 

UK is home to some of the world's best business and finance schools, as well as offers a plethora of finance-related possibilities. The financial service sector alone recruits over 30% of the graduates followed by technology, consultancy and other global industrial sectors. If you are planning to study MBA in finance in UK, continue reading this guide to learn about top universities, admission, MBA in finance in UK fees, scholarships and career prospects.

 

Table of Contents:

  1. Why Study MBA in Finance in UK?
  2. Eligibility Criteria and Admission Requirements for MBA in Finance
  3. Admission Process for MBA in Finance in UK
  4. Cost of Studying MBA in Finance in UK
  5. Top Universities for MBA in Finance in UK
  6. Job Opportunities in UK after MBA in Finance
  7. Frequently Asked Questions About MBA in Finance

 

Why Study MBA in Finance in UK?

 

Let us see why you should consider studying MBA in finance in UK:

 

  • Course Duration: MBA in UK can be completed within 1 year which makes the program quite cost-effective. While the standard duration of a master's degree program is 2 years, the shortest duration to complete a full-time MBA degree in UK is 12 months.

 

  • World-Class Education: UK universities are ranked among the top globally and known for providing world-class education. The QS Global MBA rankings 2022 featured 28 business schools from UK with 11 institutions ranked in the top 100 categories. Several B-schools in UK hold the prestigious AACSB accreditation which is only offered to only 5% of the business schools in the world.

 

  • Affordable Education: Though the cost of living in UK is high, education in UK is quite affordable. The tuition fees for public universities in UK is quite reasonable compared to private institutions. You can also expect financial support in the form of scholarships provided by universities in UK.

 

  • Easy Admission Process: UK has a simple and well-defined admission process for international students. You can complete your application online, submit scanned copies of necessary documents, appear for the interview and wait for the admission decision.

 

  • Excellent Employment Opportunities: UK is the hub for business and finance and home to top companies like Google, ITC, Amazon, Accenture, IBM, PwC, Microsoft, KPMG, Deloitte, etc. who are ready to pay high salaries to recruit talent from top universities.

 

SUGGESTED: Find out what are the top Job Opportunities after Studying in UK for international students

 

There are certain eligibility criteria and admission requirements that need to be followed when applying for MS in Finance in UK. Let's take a look at these:

 

Eligibility Criteria and Admission Requirements for MBA in Finance in UK

 

The admission requirements differ from one university to another, however, here are a few common requirements:

 

1. Bachelor’s Degree

 

Check the international equivalent of the university’s academic requirement for your education system. Like any other postgraduate degree program, you will require a valid bachelor’s degree from a recognized institution to apply for an MBA finance in UK universities. A UK second class honours degree in a business-related field is preferred for admission. This is equivalent to 60-70% in a three to four years bachelor’s degree. However, students from different academic backgrounds are welcome to apply for this degree.

 

2. Proof of English Language Proficiency

 

You will have to provide acceptable proof of English language proficiency for admission if your native language is not English. Business schools accept a minimum IELTS score of 6.5 or equivalent for admission.

 

3. GMAT Scores

 

GMAT is the most widely accepted test score worldwide when it comes to business degree programs. You are encouraged to achieve a GMAT score of 600 or above to get into your dream institution for MBA in Finance in UK.

 

4. Work Experience

 

Work experience can be a valuable addition to your application for admission to a competitive program like MBA. Some of the top institutions in UK like London Business School, University of Birmingham, Imperial College Business School prefer candidates with work experience as they are more likely to get hold of the subject and excel in their careers. It is possible to seek admission to MBA finance in UK without work experience. Some institutions that do not require work experience for admission to MBA in finance in UK are Coventry University, London School of Business and Finance, University of Sunderland, University of Bedfordshire, University of Northampton, etc.

 

5. Visa Requirements

 

You will have to follow the standard procedure to apply for a Tier 4 visa to study in UK by visiting the nearest UK Embassy in your home country. It is advisable to apply 3 months before the program start date.

 

6. Documents Required

 

You will require the following documents to apply for MBA in finance in UK:

 

  • Copy of university transcripts
  • Official translation of documents not issued in English
  • Proof of English Language Proficiency
  • Application essay
  • Updated CV/ Resume
  • Work Experience
  • Letters of Recommendation
  • Statement of Purpose
  • Copy of Passport
  • Evidence of sufficient finances

 

SUGGESTED: Know How to Write the Perfect SOP for UK

 

Once you are aware of the requirements, the next step is applying for the program. We have discussed the process below:

 

Admission Process for MBA in Finance in UK

 

Before learning about the top universities for MBA in Finance in UK, let us take a look at the admission process:

 

  1. Visit the university website and check the available intakes and application deadlines for your program. Universities in UK usually invite applications twice a year for semesters starting in January and September.
  2. Complete the online application form and pay the necessary application fee.
  3. Prepare the documents required for admission and submit it as suggested by the university. Make sure you check requirements regarding the evaluation or translation of your academic documents.
  4. After submitting your application, wait for the admission decision. Meanwhile, you can track the status of your application.

 

SUGGESTED:  A Step-by-Step Guide on How to apply to UK Universities

 

Cost of Studying MBA in Finance in UK

 

The cost of studying MBA in finance in UK will majorly include the tuition fees, cost of accommodation, food, transportation, healthcare and personal expenses. On an average, the tuition fee for pursuing MBA in finance ranges between £31,500 - £97,500. The tuition fees for private institutions are usually higher than public universities.

 

On the other hand, your cost of living will vary depending upon your location within the UK. For instance, the average cost of living anywhere in UK except London is around £12,180 per year i.e. £1,015 per month according to UK student visa requirements. While students in London are expected to have £15,180 per year i.e. £1265 per month. However, these are the minimum amounts that you must have in your bank account for each month but a student spends £1500-1800 per month i.e. while staying in UK.

 

Top Universities for MBA in Finance in UK

 

Finance is a popular specialization for MBA aspirants in UK. We have compiled all necessary information on top universities for MBA in finance in UK:

 

1. London Business School

 

London Business School ranks 2nd in the world for the 2-year MBA program in the Financial Times 2021. The b-school boasts of a 90% employment rate after 4 months from graduation. The flagship MBA program of the university provides the advantage of studying in the world’s most dynamic city along with its academic excellence.

Type

Private

Annual Tuition Fees

£97,500

Scholarships

●     BK Birla Scholars Programme (Up to full fees)

●     London Business School Fund Scholarships (Up to full fees)

●     SARI Foundation Trust Scholarship (Up to 100% of tuition fees)

Eligibility Criteria

●     An undergraduate degree at least a UK Second Class Honours or international equivalent

●     Minimum GMAT score of 600 (Average GMAT score of 590-790)

●     Average work experience of 5.5 years

Program Offered

MBA in Finance

Course Duration

15-21 months

 

2. Imperial College Business School, (Imperial College London)

 

Imperial College Business School is a top 10 university in the world recognized for its academic excellence in the field of business and STEM. The business school reserved the 7th spot in the QS World University Rankings 2022. The program is conducted for a highly selective group of 50-55 students with an average age of 30 representing 20+ nationalities.

Type

Public

Annual Tuition Fees

£57,200

Scholarships

●     Dean’s Impact Scholarship (£25,000)

●     Imperial Excellence Scholarship (£15,000)

●     Imperial Loyalty Bursary (20% of tuition fees)

Eligibility Criteria

●     Undergraduate degree with at least a UK Second Class Honours degree.

●     Minimum GMAT score of 600

●     Minimum 3 years of work experience

●     Minimum IELTS score of 7.0, no band less than 6.5

Program Offered

MBA in Finance

Course Duration

12 months

 

3. University of Birmingham

University of Birmingham holds triple-crown accreditation from the AACSB, AMBA and EQUIS. According to the High Fliers Research 2021, it is the no.1 targeted institution by UK employers. Make sure you have gained at least 5 years of work experience before applying for this program.

Type

Public

Annual Tuition Fees

£31,500

Scholarships

●     Birmingham Business School MBA Scholarships (50% of tuition fees)

●     Claire and Sean Henry Scholarship (Full fees)

Eligibility Criteria

●     A good honours degree or equivalent

●     5 years of work experience with 3 years of professional finance-related experience with managerial responsibilities.

●     Minimum IELTS score of 7.0, no band less than 6.5

Program Offered

MBA Global Banking and Finance

Course Duration

12-21 months

 

4. Bayes Business School, (City University of London)

 

The MBA program at the Bayes Business School is ranked at the top in Financial Times Global MBA rankings 2021 to offer value for money. The program ranks 7th in UK and 16th in Europe and the business school has triple-crown accreditation. You will experience a global business environment and also have access to the campus in Dubai International Financial Center.

Type

Public

Annual Tuition Fees

£47,000

Scholarships

●     Entrepreneurship Award (Up to 30% of tuition fees)

●     International Award (Up to 30% of tuition fees)

●     Women in Business Award (Up to 30% of tuition fees)

●     Academic Distinction Scholarship (50% of tuition fees)

Eligibility Criteria

●     An upper second class honours degree

●     Minimum 3 years of full-time work experience

●     Have experience of working in a team with diverse minds and an international outlook

Program Offered

Full-time MBA with Finance as a specialisation

Course Duration

12 months

 

5. Arden University

 

The Arden MBA is available fully online and teaches students relevant skills demanded by employers in UK. Applications at the university are considered on a case-by-case basis. All your qualifications will be reviewed by the Admission Committee before taking an admission decision.

Type

Private

Annual Tuition Fees

£10,855

Eligibility Criteria

●     A UK honours degree at minimum 2.2 or equivalent

●     Minimum 2 years of work experience

●     IELTS score of 6.5, no band less than 6.0

Program Offered

MBA in Finance

Course Duration

1 year full-time/ 1+ year part-time

 

6. London School of Business and Finance

 

The London School of Business and Finance provides a 100% online Global MBA program with a specialization in Financial Management. You will get the opportunity to fulfil your professional commitments while pursuing this program in UK. It is a highly flexible program with start dates in January, April, July and October and sees enrollment from students representing over 150 countries. This program will not cut a hole in your pocket and also provides a flexible student payment plan.

Type

Public

Annual Tuition Fees

£9,000

Eligibility Criteria

●     A completed undergraduate degree

●     Minimum IELTS score of 5.5 or equivalent

●     Work experience is recommended but not required.

Program Offered

Online Global MBA (Financial Management)

Course Duration

18-36 months

 

SUGGESTED: Take a look at some other Best Courses to Study in UK

 

Now that you are aware of the top universities for MBA Finance in UK, let's take a look at the career opportunities:

 

Job Opportunities in UK after MBA in Finance

 

A professional in the field of Accounting and Finance can expect to be paid around £73,100 annually. The average MBA finance salary in UK is £29,600 which can go up to £147,000 with years of experience. You can expect around a 30% salary hike after gaining 2-5 years of experience. Graduates with an MBA in Finance degree in UK are welcomed by companies like:

 

  • Infosys
  • HP
  • MasterCard
  • PwC
  • Siemens
  • Amazon
  • Google
  • Accenture
  • IBM

 

The popular job titles and MBA finance salaries in UK are given in the table below:

 

Job Title

Average Annual Salary

Finance Executive

£105,000

Financial Analyst

£93,100

Financial Administrator

£87,400

Financial Manager

£135,000

Financial Operations Manager

£124,000

Finance Team Leader

£119,000

Financial Project Manager

£104,000

Finance Relations Manager

£120,000

 

An MBA in finance from UK can bring a significant change in your career. With affordable fees, a short duration of the program and good career prospects, it will definitely offer a good return on investment for your future. We would advise you to check the admission requirements in advance, aim for higher scores, plan to gain some work experience before applying, know how to finance your education in UK and have a smooth experience of studying in UK while pursuing your MBA in finance.

 

Frequently Asked Questions About MBA in Finance

 

  1. What is the cost of studying MBA in finance in UK?

Ans. MBA in finance in UK fees range between £31,500-97,500 i.e. approximately 32,00,000-97,00,000 INR.

 

  1. What is the average GMAT score required for admission to MBA in finance in UK?

Ans. The average GMAT score for admission to elite business institutions for MBA in finance in UK is 590-790.

 

  1. Are there good career opportunities after MBA in finance in UK?

Ans. With demand in all industries, you will definitely land a well-paid job after MBA in finance in UK. Graduates from UK universities are considered highly employable and also sought after by employers. You can expect to be offered jobs as a financial analyst, financial manager, finance executive, financial consultant, investment banker, etc.

 

  1. Can I get admission to MBA in finance without work experience in UK?

Ans. Yes, there are institutions in UK that offer admission to MBA in finance without work experience. These include. However, work experience is recommended for admission to MBA and will give you a competitive edge over other applicants.

 

  1. How much can I expect to be paid after MBA in finance in UK?

Ans. The highest salary you can expect to be paid after MBA in finance in UK is £147,000 i.e. approximately 147,00,000 INR. You can expect an average salary of £71,300 i.e. approximately 70,00,000 INR.

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