Having more than 395 universities, the United Kingdom ranks second among international educational hubs. In addition to its multicultural diversity, the country also welcomes over 5 lakh international students. One of the greatest benefits of studying in this country is that students from all over the world have the opportunity to form meaningful connections that assist them in networking. Most aspirants who obtained degrees from the UK have taken advantage of their degrees and become successful in their careers and even set up their own businesses. Before students decide to pursue an MBA course in the UK, it’s imperative to know about the MBA in UK fees and other vital details.
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Overview of Studying MBA in UK
Some of the world's leading MBA universities are located in the United Kingdom. MBA in UK helps you to enhance your learning experience. Moreover, this course gives access to the global network through an introduction to the international market. These universities design their MBA programs to prepare students for life in the global market and to empower them to emerge professionally.
Apart from being prestigious universities and offering excellent education, MBA degree courses in the UK are expensive as well. The average cost of MBA in UK tends to be higher for the most popular study programs, particularly full-time MBA and executive MBA in UK.
Here are some popular MBA degrees in UK that students can pursue:
- MBA
- MBA Executive
- MBA Entrepreneurship MBA in International Business
- MBA in Finance
- MBA in Accounting
To meet challenges of the future in the UK, students need to devise a practical plan after knowing the MBA course fees in UK, along with the MBA in UK cost allowing them to successfully navigate the course.
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Factors Influencing the Cost of Studying MBA in UK
For all UK universities and courses, it is almost a universal rule that the more popular the course is, the more expensive the cost will be. The MBA degree courses are a popular choice for international students in the UK, but are some of the most expensive, along with medical degrees and natural sciences courses.
A realistic understanding of what MBA course fees in UK is crucial since it allows students to plan their budget and academic goals based on available options. In the UK, the total cost of an MBA degree can be divided into two prime categories:
- University fees
- Living costs
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The majority of international MBA students in the UK are concerned about university fees as their primary source of financial concern. For MBA courses in the UK, you can expect to encounter a different set of international fees because business schools set their own fee policies for international students.
- Moreover, the overall MBA in UK for international students fees, depends on which university, what type of course and your nationality you enrol in.
- Compared to local and EU students who pay fees that are limited to EUR 9,250 per annum (INR 7 Lakhs), non-EU students pay higher fees.
- The average for international students fees for MBA in the UK is EUR 35,000 to EUR 58,000 (INR 29.5 Lakhs to INR 48 Lakhs) per annum. Nevertheless, a few universities still charge fees outside of this range. As an example, tuition at the highly regarded London School of Business peaks at EUR 78,500 (INR 65 Lakhs) per annum for full-time MBA degree students.
Additionally, some universities charge lower semester tuition fees. For example, it costs EUR 30,000 (INR 25 Lakhs) for an academic year at the University of Durham.
- Application fee – There may be a one-time application fee you must pay when applying to some MBA schools in the UK, in addition to semester fees. Typically, this fee ranges between EUR 25 (INR 2,098) and EUR 60 (INR 5,036). Both the University of Manchester and the University of Glasgow are among the institutions that charge this type of fee to their students.
- Deposit fee – After you've been accepted to the MBA course you've applied for, you'll have to pay a so-called deposit to confirm your place. It is imperative to note that the amount of this fee is not determined by the universities, so it may differ from year to year. On average, the fee ranges somewhere between EUR 1,000 and EUR 4,000.
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Tuition Fees of Top MBA Universities in UK
By far one of the best places for Indian students to pursue an MBA the UK, but it is also one of the most expensive. The annual tuition fee in UK for MBA usually ranges from £21,916 - £1,15,000 or ₹22,83,740 - ₹1,19,75,090 per year. Despite the high cost of living in UK, there are a large number of universities offering quality MBA programs at a reasonable price. The following is a list of the most popular universities offering MBA programs for Indian students with average MBA fees in UK:
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Name of the University |
Duration |
Exam Required |
Annual Tuition Fees |
|---|---|---|---|
|
1 year |
GMAT, GRE |
EUR 49,783 (INR 41.8 Lakhs) |
|
|
1 year |
GMAT, GRE |
EUR 77,533 (INR 65.1 Lakhs) |
|
|
1 year |
IELTS: 7, PTE: 62 |
EUR 40,612 (INR 34.1 Lakhs) |
|
|
15-21 Months |
GMAT: 600, GRE |
EUR 72,174 (INR 60.6 Lakhs) |
|
|
1 year |
GMAT |
EUR 70,149 (INR 58.9 Lakhs) |
|
|
1 year |
GMAT: 600. IELTS: 7 |
EUR 46,210 (INR 38.8 Lakhs) |
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|
13 months |
GMAT, GRE |
EUR 47,996 (INR 40.3 Lakhs) |
|
|
1 year |
IELTS: 6.5, PTE: 58 |
EUR 29,060 (INR 24.4 Lakhs) |
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After knowing the MBA in UK fees for Indian students, it’s relatively easy for students to make an informed decision while choosing the university.
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Living Costs for MBA Students in the UK
Studying for an MBA in UK will cost you not only university fees but also living expenses, as part of the 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.
Nevertheless, if you manage your finances properly, international students can live comfortably in the UK. To be able to reduce the overall cost of studying in UK, you may need to adjust your lifestyle a little bit.
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Know More About Studying in UK |
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How to Reduce the Cost of Studying MBA in UK?
Now that we are aware about the MBA in UK cost, let us also give you some tips to reduce the MBA in UK for international students fees:
- Take up a part-time job to earn yourself some extra income, as well as expertise in your field.
- Look for UK internships for international students in your university itself.
- Get into a cheap university to study in the UK, with low tuition fees.
- Get yourself a scholarship, grant or an award to ease the financial burden.
- Lastly, get hold of student discount cards, offers, coupons, etc, as much as you can!
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In the UK, a student would be eligible for a UK Student Visa for 16 months if they attend a 12-month course. If you did this, you would be able to find a job in the remaining four months, so you would not be forced to return home immediately after your stay. In spite of this, the rules on student visas continue to change, which means you should always pay attention to the latest information regarding the same. For further information, why not connect with our Yocket Counsellors?