The tuition fees constitute a large component of the cost of MBA in UK program, primarily ranging from GBP 31,500 to above GBP 123,000 (approximately INR 40.02 lakh to INR 1.57 crore)per year based on the college or business school.
Besides university tuition, students will also be required to pay expenses of GBP 1190 - 2470 (approximately INR 1.51L-3.14L) per month. There are some additional costs too, which include the student visa, application and test fees, flights, and accommodation deposit.
This article lists everything you must know about the average cost of MBA in UK, with a detailed breakdown of tuition fees, living expenses, other costs, scholarships, and how to reduce your overall cost.
MBA Tuition Fees in UK
The tuition fee is usually the biggest part of the cost of studying MBA in UK. UK universities set their own MBA fees, so the amount can be very different from one university to another.
Top business schools in London and other major cities can charge much higher fees. Other universities offer MBA programs at a lower cost. The program length also matters. Some provide full-time one year MBA programs in UK, while others may take 15, 18, or more months.
This shows why students should compare full program fees when looking at the cost of MBA in UK.
The table below uses the full-program fee where the university provides one. Fees can change by intake, so students should check with the university before applying.
Tuition is not the only part of the cost of MBA in UK for international students. You also need a monthly budget for daily life.
The primary cost of living in UK comprise accommodation, food and groceries, transportation, personal expenses and study materials. It's very dependent on the city. London usually needs a bigger budget than many cities outside London.
The following is a planning estimate, not a fixed fee. These costs may vary from region to region and based on individual choices.
Your city can make a big difference to the average cost of MBA in UK.
London has some of the country's highest MBA tuition fees and living costs. Cities outside London can have lower day-to-day costs, although MBA tuition can still be high at leading business schools.
Here’s a table showing approximate MBA tuition costs and living costs according to the city.
City
Approximate MBA Tuition Fee (GBP/INR)
Approximate Annual Living Cost (GBP/INR)
London
GBP 45,000-124,000 (INR 57.1 Lakh-1.57 Crore)
GBP 18,350-21,500 (INR 23.3-27.3 Lakh)
Oxford
GBP 60,000-95,000 (INR 76.2 Lakh-1.21 Crore)
GBP 15,000-19,000 (INR 19.1-24.1 Lakh)
Cambridge
GBP 60,000-86,250 (INR 76.2 Lakh-1.10 Crore)
GBP 19,800-21,000 (INR 25.1-26.7 Lakh)
Coventry / Warwick
GBP 30,000-62,500 (INR 38.1-79.4 Lakh)
GBP 14,050-15,500 (INR 17.8-19.7 Lakh)
Manchester
GBP 30,000-52,000 (INR 38.1-66.0 Lakh)
GBP 14,050-15,000 (INR 17.8-19.1 Lakh)
Edinburgh
GBP 32,000-48,000 (INR 40.6-61.0 Lakh)
GBP 14,050-15,500 (INR 17.8-19.7 Lakh)
Glasgow
GBP 30,000-41,000 (INR 38.1-52.1 Lakh)
GBP 14,050-14,500 (INR 17.8-18.4 Lakh)
Durham
GBP 26,000-41,000 (INR 33.0-52.1 Lakh)
GBP 13,000-14,050 (INR 16.5-17.8 Lakh)
Birmingham
GBP 25,000-40,000 (INR 31.8-50.8 Lakh)
GBP 14,050-15,000 (INR 17.8-19.1 Lakh)
Leeds
GBP 25,000-40,000 (INR 31.8-50.8 Lakh)
GBP 13,500-14,500 (INR 17.1-18.4 Lakh)
Note: As these numbers are based on rent, lifestyle and accommodation type, they can vary.
When calculating the cost of MBA in UK for Indian students, remember the costs that come before and during the MBA.
Additional costs, including student visa, application fee, English tests, and other costs, may range around GBP 2,852-4,300 (approximately INR 3.66-5.53 lakh) for a student doing MBA in UK.
You can get a complete understanding of additional items with their estimated costs in the following table.
Funding can reduce the cost of MBA in UK for international students, but not every scholarship is available for every MBA. There are various scholarships provided in UK, such as full scholarships, partial scholarships, merit-based scholarships, and need-based funding.
Some business schools offer their own MBA scholarships. For example, Warwick lists scholarships worth 10% to 50% of its MBA tuition fee.
Here is the table including some popular scholarships with eligibility criteria and coverage offered.
Bachelors degree; strong academic background; admitted to a participating UK university
Some scholarships have deadlines before the final course application deadline. Check the university and scholarship website for the exact dates.
How to Reduce the Cost of MBA in UK?
The cost of doing MBA in UK can be high, but students can reduce some expenses with simple planning. Students also need to budget for accommodation, food, transport, visa fees, the Immigration Health Surcharge (IHS), flights, and other study-related expenses.
Below are some pointers that one needs to be followed when planning to reduce the cost of studying MBA in UK:
1. Choose a university outside London: London has higher living costs in many areas. Studying in another city can reduce rent and daily expenses.
2. Compare full program fees: Do not compare only the yearly fee. A one-year MBA and a two-year MBA have different total costs.
3. Apply for scholarships: Check university, business school, and external scholarships before paying the full tuition fee.
Consider shared accommodation
Sharing a flat can reduce rent and utility costs.
Use student travel discounts
Student discounts can reduce the cost of buses, trains and other travel.
Prepare food at home
Cooking most meals at home can lower your food budget.
4. Compare accommodation: Do not book the first room you see. Compare:
Rent
Deposit
Bills
Distance from university
Transport costs
Contract length
5. Plan one-time costs: Keep separate money for your:
Visa
IHS
Flight
Deposit
Laptop
Test fees
Initial living expenses
This makes the cost of MBA in UK easier to manage.
ROI of MBA in UK
The return on investment of an MBA depends on your career, previous experience, industry, location, and salary after graduation.
An MBA does not guarantee a particular salary. It is better to compare your total MBA cost with the salary range for the type of job you want.
Average Salary After MBA in UK by Experience Level
The approximate salary ranges from around GBP 45,000- GBP 2,00,000+ (approximately INR 57.2 lakh- 2.54 crore+) per year. The salary may vary according to the specialisation, work experience, and location.
The table below provides some examples of jobs in UK and the expected range of salary for roles at various experience levels.
Students should also take into account their experience, career path, loan or savings used to pay the MBA, and living expenses. The higher the level of education and experience of the professional, the greater the pay.
Some of the higher-paying job roles in UK are provided in the next table, along with their estimated annual wage.
The cost of studying MBA in UK is compared with the cost of studying MBA in other countries.
A comparison of the cost of studying MBA in UK with other sought-after study destinations. The tuition fees vary depending on universities. However, the average value may only be used as a reference.
Here are some country cost comparisons for UK, USA, Canada, Australia, and Germany.
Country
Approximate Annual MBA Tuition Fee (Local/INR)
Approximate Annual Living Cost (Local/INR)
United Kingdom
GBP 31,500-123,000+ (INR 39.97 lakh-1.56 crore+)
GBP 14,280-29,640 (INR 18.12-37.61 lakh)
United States
USD 50,000-100,000+ (INR 48.00 lakh-95.99 lakh+)
USD 18,000-25,000 (INR 17.28-24.00 lakh)
Canada
CAD 40,000-70,000 (INR 27.19-47.58 lakh)
CAD 18,000-24,000 (INR 12.23-16.31 lakh)
Australia
AUD 50,000-75,000 (INR 33.71-50.56 lakh)
AUD 25,000-30,000 (INR 16.85-20.22 lakh)
Germany
EUR 0-45,000 (INR 0-49.12 lakh)
EUR 11,500-14,000 (INR 12.55-15.28 lakh)
This table lists the country-specific differences in tuition, room and board. While the tuition fee costs range between GBP 31,500-123,000+ (approximately INR 39.97 lakh-1.56 crore+), and living costs in UK are around GBP 14,280-29,640 (approximately INR 18.12-37.61 lakh) annually, students can also manage to finish their education sooner and save on living costs with its many 1-year MBA courses.
Conclusion
The MBA in UK is estimated to be between GBP 48,632-157,890 (approximately INR 61.83 lakh-2.00 crore) depending on the business school and program. Living expenses can add another GBP 1,190-GBP 2,470 (approximately INR 1.51-3.14 lakh) per month, with London generally needing a higher budget.
The cost of MBA in UK for Indian students includes much more than university fees. Students should also plan for accommodation, food, transport, visa, IHS, flights, tests, and personal expenses. Compare the full program fee, total living cost, and available scholarships when checking the cost of doing MBA in UK. This gives a much clearer idea of the money needed before starting this program.
The average cost of MBA in UK in your university comparison ranges from around GBP 48,632-157,890 (approximately INR 61.83 lakh-2.00 crore). Students should still make a list of additional costs and keep extra funds.
Is the cost of MBA in UK for Indian students too high?
MBA in UK for Indian students can be expensive, especially at top business schools. Depending on location, the monthly cost of living ranges from GBP 1,190 to GBP 2,470 (approximately INR 1.51-3.14 lakh) per month, and tuition varies from GBP 48,632-157,890 (approximately INR 61.83 lakh-2 crore) depending on the school.
In which universities is an MBA the cheapest?
London School of Commerce, Teesside University, York St John University, London Metropolitan University, Birmingham Newman University and Wrexham University are all affordable universities. The applicant should verify the current fees of the university before applying, as they may differ for every intake.
How can I study for free in UK?
International MBA students may avail of scholarships like Chevening scholarships, university-specific scholarships, and MBA scholarships to save or even pay the tuition cost of their MBA. For instance, an MBA Public Value Scholarship is available at GBP 10,000 (approximately INR 12.71 lakh) for Cardiff University students who meet the requirements.
How much bank balance is required for a UK study visa?
Applicants who wish to study in London on a student visa need to have GBP 1,529 in living expenses for every month of their course plus course fees, while those who are studying outside London have a requirement of GBP 1,171 (approximately INR 1.49 lakh) in living expenses for each month of their course, for up to 9 months. The money should be kept for a minimum of 28 days.
What are the eligibility criteria to get into MBA courses in UK?
Requirements for MBA vary from one university to another, but mostly applicants are required to have a bachelors degree and some work experience. There are also some programs that will require GMAT or GRE scores, and others with varying English-language requirements. Be sure to review the requirements of individual MBAs.
Can I study in UK without IELTS?
Yes, in some cases. UK visa rules allow English proficiency to be demonstrated through an eligible degree taught in English, while a university may assess English itself for degree-level study. Individual MBA requirements still depend on the institution.
Which specialisation is most in demand in UK?
Demand varies by employer, but finance, business analytics, technology management, consulting, and strategy are relevant areas. UK Skills England data shows strong demand for financial managers, IT business analysts, programmers, and other digital roles.
What are the top 10 courses in demand in UK?
The sectors include software development, IT business analysis, engineering, finance, healthcare, construction, clean energy, digital technology, and professional services and life sciences. There is no single degree with uniform demand, but rather different degrees have different demands in different occupations and sectors.
In which country is MBA in most demand?
Depending on industry, country, and position, there are no definite countries that can be said to have the highest demand for MBAs. The markets in UK, USA, Canada, and Australia are developed markets for MBAs.
Is an MBA in UK worth it?
If you're interested in or studying a career in Management, Consultancy, Finance, or Marketing and Strategy, an MBA from UK may apply. While considering sending off applications, learn more about tuition rates, living expenses, and how long it takes to complete the program, as well as the work experience requirements, career opportunities, and scholarships.
upGrad Abroad Editorial Team |5037 articles published
We are a dedicated team of study-abroad experts, ensuring intensive research and comprehensive information in each of our blogs. With every piece written, we aim at simplifying the overseas education ...
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