Choose UK as your destination for pursuing an MBA degree
In recent years and counting, United Kingdom is rated as the topmost destination in the world for pursuing an MBA education. In fact, the number of MBA students in the UK was more than the total number of students in the rest of Europe as per the survey was done by the British Council research department. In addition to Oxford and Cambridge, London Business School, UK has numerous universities offering MBA degrees, which rank among the best in the world. In 2014, London Business School ranked 1st in Financial Times as the top European MBA School.
Why choose UK for MBA?
There are plenty of reasons for you to choose the UK for an MBA course rather than going for other options, and here is why:
- Duration: One of the major advantages of doing MBA from the UK is the duration. MBA in the UK is for one year as compared to two-year programs you will see around the world.
- A mix of theory and practice: The academic program in the UK is such that it prepares the students to face the corporate world with competitiveness and proficiency The program structure is well made to provide a perfect combination of theory and practical. The grading and evaluation system keeps a proper check on the performance of the students.
- A good balance of student to faculty:In most of the universities of the UK, the student-teacher ratio is small that provides the students an opportunity to reap the maximum benefit. The institutes in the UK encourage the faculty to carry on research programs that give them wider exposure and hence they are abreast of the latest developments.
- Fantastic Architecture:The infrastructure of the MBA colleges and institutes in the UK is also excellent. These are made with the aim of making the atmosphere conducive to learning, development, teaching, and research.
- Power of the degree: With an MBA degree from a reputed UK business school, the student can be assured of attracting top world recruiters, opening avenues of getting jobs from the best companies worldwide. The MBA degree holder from an established UK Institute certainly gets an edge over others even when he or she decides to go back to their country for jobs.
- Being deeply involved: Apart from the direct benefit of enhancing the job prospects, an MBA program helps the degree holders to become alumni of the respective institute. The network of the individual grows, which enables the student to gain knowledge that further has a positive impact on his or her career.
- A unique experience: When a student studies with other international students from numerous countries who are enrolled in a top business school in the UK, it certainly gives the students an international exposure which is truly incomparable. Such an international culture aids in business and grooms the overall skills of the students.
- Unlocking your true potential: Using the full-time career services the students can know about the talents and tap them to their benefit. The career service advisers are appointed at the best U.K MBA schools who help the students enrich the CV, interview tips, cover letters, which brings the students closer to their dream jobs or setting up his/her own business.
The courses offered in the UK are not just an "MBA". An MBA student of the UK has the option to select an area of concentration and focus approximately one-third of their studies in that particular area. The specializations are quite a lot, leading a student to be slightly unsure of what should be their best pick. Hence, we have compiled some of the best MBA courses offered by UK universities and colleges. They are as such:
- Financial Management (EIA)
- Business Intelligence
- Financial Services
- Human Resource Management
- IT Management
- Public Relations and Reputation Management
- Dual Program - Master of Business Administration Combined with Association of Chartered Certified
- Global Management
Course Duration for MBA
For ease of the students, MBA courses are offered both part-time and full-time in the UK. Keep in mind that the duration of the course depends on the choice you make between full-time or part-time. Your fees and cost of living will also get impacted by this decision.
The duration of a full-time MBA is one year, which is further split into nine months of course work and three months of dissertation or project work. On the other hand, part-time programs can go over 21 months, while the course work remains the same, only the duration and fees differ. Full-time courses offered are fully residential, but some colleges provide residency to part-time students depending on their condition.
Your visa and working while studying
International students coming to study in the UK need to have a Student Visa (previously known as the Tier 4 General Student Visa). This visa allows you to study and work in the UK, but it has its own restrictions. On a student visa, you are only able to:
- work part-time while the course is ongoing, and during holidays you are eligible to work full-time.
- are eligible for the minimum payment, but not public funds.
The UK also allows the MBA to pursue students to do jobs along with the course, students can work for 20 hours a week as per the rules. This is a great opportunity as it gives students the exposure they need before entering the fast-paced world of marketing and also gains more knowledge about the market at one go.
HealthCare in the UK
The students who have applied for courses that are for six months or more in the UK are automatically eligible for free
healthcare services by the NHS (National Health Services). This will allow you to access healthcare for free in the UK, although you will be paying insurance money for the same.
Note: The free healthcare ONLY includes the services and few medications. Any major surgeries or diagnostic tests have to be paid for separately if need be.
Eligibility for an MBA is pretty much standard all across the UK, although the requirements might change in terms of marks required. Some basic requirements are as such:
- To pursue MBA from the UK, the student must possess a Bachelor's degree or equivalent degree from a reputed university or college.
- A high GMAT score with either TOEFL or IELTS scores
- work experience and a good academic record are necessary.
- Some of the universities also ask for well-reasoned essays explaining why you want to do an MBA and how you see yourself contributing to the campus environment, which is popularly known as Statement of Purpose.
- at least one reference letter from your current employer. The reference letter serves as an additional advantage for the students, which paints a picture of the student from a different perspective and might make the chances of acceptance higher.
As far as the work experience is concerned most universities ask for two to three years of full-time experience while some universities might ask students an average of eight years of average work experience.
Top universities Ranks (offering accredited MBA programs)
- University of Oxford
- Cambridge University
- City University, London
- London Business School
- Warwick Business School
- University of Leeds
- University of Sheffield
- University of Glasgow
Every university has something unique to offer. It may be so that you might not find your desired course in either of the top universities, but don't be disheartened about it. The list above shows only a fraction of what the UK has to offer. You can continue your search beyond any lists you come across unless you find the course best suited for you since any degree from the UK is world-recognized and gives you an edge no matter the university.
As for the work experience, you will get that opportunity in almost all universities, maybe even more. Some universities give students the option to carry out internships on the side while studying, giving the students even more exposure and the opportunity to build connections.
The tuition fee for MBA may vary enormously within the UK itself, as it is based as per the university. The higher the reputation of the university, the more the tuition fee for the course.
In general, the tuition fee for a year can range from £10,000 to £30,000. It is preferable to pay the whole amount upfront, as the fee is subject to change as per the conversion rate. But, universities understand that not every student is capable of doing so and have kept an option of paying in installments.
You can also keep an eye out for scholarships given by the university or other sponsors based on your home country and/or your academic merit.
Cost of living
As per the record, the cost of living in the UK is one of the highest in the world. According to the University of Lancaster, the estimated cost of living will come to around £8,500/year.
Most of the universities offer financial assistance to international students based on their merit and academic record, which vary from university to university and the level of study. Some universities waver off the living costs if you qualify for it as per their terms and conditions.
Future after MBA
Lastly, the degrees provided by the UK institutes are valid and recognized all over the world, and they tally with the international standards. Students can expect bright career prospects after completion of their MBA in the UK. As per the records, 90 percent of MBA's from the UK experience a 40-60 percent uplift in salary, with an average salary being £62,000/year, if not more.