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    Masters in Management in UK: Top Colleges, Fees, Scholarships, Admissions, Salaries

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    Bhavya Rawal

    Study Abroad Expert


    Masters in Management in UK is an intensive full-time taught program usually of one-year duration. It aims at preparing recent graduate students from diverse academic backgrounds for careers in management. The tuition fee for Masters in Management in UK ranges from 20,000 GBP- 33,600 GBP. Studying in UK as a MIM student has been gaining popularity as an alternative to pursuing an MBA degree.

    Masters in Management in UK may offer returns slightly lesser than MBA courses, but the course is considered no lesser as it opens most of the doors to management careers. Admission to this program at UK universities does not require a management degree program at the undergraduate level or any kind of prior work experience. Another added advantage of applying to a master's in management is that GMAT scores are not mandatorily required by all universities offering the program.

    • For Indian students, the cost of studying MIM at top UK universities is approximately 19 lakhs to 33 lakhs to study in the UK.
    • The overall cost of studying in UK may seem overwhelming to students. In such a case, you can opt for scholarships in the UK available for international students. 
    • Your salaries may reach up to 50,000 GBP to 67,000 GBP (annual average) after a few (2-3) years of experience. This means you earn as much as 65 LPA INR.  
    • For students applying to universities for offering MIM in the UK, you will not only need to fulfill basic admission requirements but also ensure that they fulfill country-specific eligibility criteria.
    • Indian students need to have at least 60% in their bachelor's degree to get into universities in the UK. 

    Top Universities for Masters in Management in UK

    According to QS World University Rankings 2020, listed below are the top universities in the UK offering Masters in Management programs. The table below also describes the program offered, its duration and tuition fees for completing the program from a specific business school in UK.

    University QS World Rankings 2020 Program Program Fee (in GBP)
    London Business School 2 Masters in Management 33,600- 41,100
    Imperial College Business School 5 MSc in Management 29,500
    London School of Economics and Political Science 7 MSc Management and Strategy 32,184
    Warwick School of Business 21 MSc Management 29,950
    Alliance Manchester Business School 24 MSc International Business and Management 24,000
    MSc Management 23,000
    Cranfield School of Management 28 Master in Management 26,000
    University of Edinburgh Business School 38 MSc in Management 24,900
    Durham University Business School 46 MSc Management 23,500
    University of Bath School of Management 54 MSc in Management 20,000
    Strathclyde Business School 55 MSc in Business and Management 22,050

    Why Study Masters in Management in UK?

    According to the University College of London’s Centre for Global Higher Education, studying in the UK is the second most popular option among international students. A few of the reasons to pursue a Masters in Management in UK are:

    • 68% of the Masters in Management programs are offered in Europe.
    • 21 UK universities are among the top 100 in the world for the Masters in Management program.
    • According to the Master in Management Compass, employers plan to hire 63% more Master in Management graduates.
    • Top universities in the UK do not require a mandatory working experience for admissions to Masters in Management.
    • The program fee for Masters in Management in the UK is almost 50% less than that of an MBA in the UK.
    • According to a survey conducted by the Graduate Management Admission Council (GMAC) in 2018, among the 350 employers, 37% projected on hiring graduates of the Master in Management program in 2019. This is 5% more as compared to the actual hiring in 2018.
    Percentage of Employers Hiring Management Graduates

    Admission Process of Masters in Management in UK

    For admissions to Masters in Management, applicants are required to fulfill all the admission requirements as per the university. Mentioned below are a few of the important admission requirements.

    Applications for Masters in Management in UK

    • Application: Admission applications to apply at UK universities for Masters in Management can be made online through the respective university website.
    • Application Fee: All the applicants are required to pay an application processing fee that is non-refundable. The application fee at a few of the top UK universities for Masters in Management ranges between 60 GBP- 90 GBP.
    • Application Timeline: The application for Masters in Management in the UK usually begins in the month of September in most of the top universities in the UK. Many of the universities have their admission deadlines in the month of June- July.

    However, a few universities such as Imperial College Business School and the London School of Economics do not have any application deadlines. Applications for such universities are reviewed on a rolling basis.

    Eligibility for Masters in Management in UK

    The eligibility for admissions in a Masters of Management program is similar for most of the universities in the UK. Applicants from any study discipline are eligible to apply for Masters in Management in the UK. 

    • Applicants are required to have an undergraduate degree equivalent to the UK first or upper second class honors (2:1) degree 
      • An equivalent undergraduate degree with 60-70% is acceptable
    • ELP is an important part of the admission criteria for international students. Applicants must make sure to submit their scores for English proficiency exams along with the admission application.
      • IELTS- 6.5 to 7.0
      • TOEFL- 93-100
    • Another major part of the admission application for Masters in Management are the scores of standardized exams to study in the UK. These include GMAT/GRE scores, though not required by many universities, having one will always be an added advantage. 

    Country-specific requirements for Masters in Management in UK

    International students are required to provide a UK equivalent undergraduate degree from an accredited and recognized university in their respective home countries or universities abroad. Tabulated below are a few of the acceptable degree equivalents for admissions in the UK:

    Country Requirements
    Bangladesh Masters degree after a 3-4 year bachelor’s degree with a first-class honors degree and average marks of 75% or a GPA of 3.75/4 or above
    Hong Kong Bachelor degree with a 2:1 classification
    India 3-4 years bachelor degree with 60%-70% or 7.5/10 or 3.3/4 CGPA
    Sri Lanka 4- year bachelor or professional degree with overall marks of 65% or 2:1 classification honors degree
    Thailand Bachelor degree with overall GPA between 3.25/4 to 3.5/4 or 75%

    The table above shows the average accepted scores for the Master's program. Applicants are advised to contact the university officials for specific details. 

    University-Specific Eligibility for Masters in Management in UK

    Though the general requirements are already listed above, let us now dive into the details of admission requirements for some of the top colleges in UK offering masters in management:

    University Additional IELTS TOEFL
    London Business School GMAT- 600+, Interview, CV 7.5 100
    Imperial College Business School Career planning questions, CV, GMAT recommended 7.0 100
    LSE GMAT required, 3 months or more work experience recommended 7.0 100
    Warwick Business School GMAT- 700+ 7.0 100
    Alliance Manchester Business School CV 7.0 100
    Cranfield School of Management CV 6.5 92
    University of Edinburgh Business School work experience recommended 6.0 100

    Documents Required for Masters in Management in UK Admission

    The admission requirements or the supporting documents required for admissions in a Masters in Management program are listed below:

    • Completed admission application form
    • Payment of non-refundable application fee
    • Academic transcripts from all educational institutions attended
    • Proof of English language proficiency scores
    • Standardized exams to study in UK- GMAT or GRE
    • Current CV
    • Name and contact details of 1-2 referees
    • Personal Statement with details about themselves, interests, values, etc. 
    • Application Essays on why the applicant wants to join the program and the university/ college
    • A few of the universities might also ask the applicant to appear for an interview with the university

    It must be noted that Masters in Management in the UK is targeted for newly graduated students. Therefore, it is not mandatory for an applicant to provide any work experience. However, an internship or work experience for up to two years might be a plus point in the admission application. 

    Masters in Management in UK without GMAT

    Pursuing masters in management in UK without GMAT scores is not difficult. Along with some of the top, globally ranking universities in UK, there are various other universities that accept MIM applicants without GMAT scores. Some of these are:

    • University of Edinburgh
    • University of Bath
    • Warwick School of Business
    • Alliance Manchester Business School
    • Cranfield School of Management

    Most of these business schools in UK, do not ask their applicants to have GMAT scores. However, students planning to pursue masters in management do need to have work experience to get into top universities. 

    Cost to Study Masters in Management in UK

    Studying abroad is an important investment done by a student to pursue higher education in the UK. The costs incurred by a student not only includes the tuition fee but also the pre-arrival costs and the living expenses while studying in the UK. 

    Pre-arrival Costs

    The pre-arrival costs to the UK for higher studies include the one-time payment of fees for the admission application, student visa application to the UK, registration fee for the various standardized exams to study in the UK. 

    Type of Expense Cost (in GBP)
    Application Fees 60- 90
    Visa Application Fees 348
    IELTS Registration Fee 150
    TOEFL Registration Fee 140
    GMAT application fees 194
    GRE application fees 159

    Tuition Fees for Masters in Management in UK

    The total international tuition fees for Masters in Management ranges between 20,000 GBP- 33,600 GBP. Among the top 10 universities in the UK offering Masters in Management, the London Business School program is the most expensive with a total tuition fee of 33,600 GBP for a 12-month duration. Students who plan to complete the fourth term at the business school are required to pay 41,100 GBP. Bath School of Management is the least expensive with a program fee of 20,000 GBP for international students. 

    Tuition Fees for Indian students planning to study masters in management in UK are:

    University Program Fee (in INR)
    London Business School 39.77 lacs
    Imperial College Business School 28.55 lacs
    London School of Economics and Political Science 31.14 lacs
    Warwick School of Business 28.98 lacs
    Alliance Manchester Business School 23.22 lacs
    Cranfield School of Management 25.16 lacs
    University of Edinburgh Business School 24.09 lacs
    Durham University Business School 22.74 lacs
    University of Bath School of Management 18.35 lacs
    Strathclyde Business School 21.33 lacs

    Cost of Living in UK

    The living costs in the UK varies with the part of the country a student stays in. Students living in London pay more as compared to other parts of the UK. The average living costs for international students in UK ranges between 15,600 GBP-18,000 GBP annually. 

    Type of Expense Annual Cost (in GBP)
    Rent (for 1 bedroom flat) 6,600 – 7,800
    Council Tax 1,500
    Other Utilities 2,400
    Travel Cost (via public transport) 660
    Mobile Phone Plan 480
    Other Costs ( food, internet, groceries, etc.) 3,000
    Total Cost 15,600 – 18,000

    Students can also stay on-campus if student housing options are provided by the respective universities. 

    Scholarships for Masters in Management in UK

    The universities in the UK offer various financial support options for international students. These financial aid options include scholarships, education loans, etc. The table below shows the various scholarships awarded to students enrolled in Masters in Management programs in the UK. 

    Scholarships University Scholarship Amount (in GBP)
    London Business School Fellowship London Business School 12,000
    Masters in Management Merit Scholarship London Business School 10,000
    Imperial Business Scholarship Imperial College Business School 10,000
    Inlaks Scholarships LSE Full cost of attendance
    Graduate Support Scheme LSE 5,000-15,000
    Chevening Scholarships Warwick Business School Variable
    Commonwealth Scholarships Warwick Business School Variable
    Alliance MBS Masters Scholarships Alliance Manchester Business School Full tuition fee
    Cranfield Scholarship Cranfield School of Management Varies
    Business School International MSc Scholarships University of Edinburgh Business School 4,000- 10,000
    Chevening Scholarships Durham University Business School Variable
    School of Management Scholarships University of Bath School of Management 5,000
    Great Scholarships University of Bath School of Management Full tuition fee waiver
    Strathclyde Business School Masters Scholarship for International Students Strathclyde Business School 7,000
    Strathclyde Business School Deans Excellence Scholarships Strathclyde Business School 10,000

    Students can also apply for various international scholarships to study in UK that are awarded by various private organizations or agencies and also the respective home country governments. 

    Jobs after Masters in Management in UK

    After completion of the Masters in Management in the UK, graduate students have a number of opportunities in various working sectors. Graduates from UK universities can look for jobs available for international students in UK or other countries as per their choice. 

    It is reported that most of the graduates go on to work in sectors such as:

    Job Sectors Companies Hiring
    Finance Barclays Bank, Cathay United Bank, Lloyds Banking Group, Clydesdale & Yorkshire Bank, Consulting - Ernst & Young, PwC, KPMG
    Manufacturing Pine Chemical Group, Rajeev Metal Industries
    Business Support Transport for London, GSK, Zepplin
    IT Services IBM, Italy-China E-commerce Sales Center, Toyota Tsusho Network Integration
    Start-ups Scorace, Nuvven, To Be Healthy Foods

    Graduates of MiM program have a strong reputation among companies that run various graduate training programs or among various banks, etc. looking for analyst-level recruits. This is quite distinct from the case seen in MBA graduates where recruiters recruit graduates for specific job profiles.

    An average annual salary package for a graduate of Masters in Management in the UK is 35,000 GBP. It is reported that international students are allowed a two year Post Study Work in UK, making it easier to apply for various jobs after graduating and staying in the UK. 

    Salaries after Masters in Management in UK

    Job Role Avg Annual Salaries (GBP)
    Project Manager 72,900
    Production Manager 114,000
    Operations Assistant 81,600
    General Manager 131,000
    CEO 162,000
    Assistant Manager 85,000
    Corporate Officer 74,500
    Executive Director 161,000
    Assistant to CEO 81,900
    Product Executive 98,100

    MiM vs MBA in the UK

    The Masters in Management (MiM) program is often confused with an MBA degree. MiM is a European phenomenon. This means that according to QS World Rankings or FT Rankings for the last three years, the top 100 universities offering Masters in Management program are from European countries such as France, UK, Netherlands, Switzerland, Italy, Spain, Germany, etc. 

    MiM program in the UK is a good alternative for students who are not able to find a place at a good B-school for pursuing an MBA in the UK.

    The major differences in the two programs have been showcased below:

    Description MBA Program MiM Program
    Who are they for? Ideal for experienced professionals; 3-8 years of work experience Targeted towards recent graduates; Up to 2 years of work experience
    Goals of Applicants Majorly for career development and to get a higher salary package Targeted towards people who want to start a career in business and join top companies
    Age of Applicant 25-32 years 21-25 years
    Way of Teaching Majorly practical oriented; Based on the application of business techniques Theoretical Focus; Courses taught through case studies, team projects and lectures
    Curriculum Goal Getting specialized knowledge Building a foundation
    Tuition Fees* High (ranges from 31,450 GBP- 87,900 GBP) Half of MBA tuition fees (ranges between 20,000 GBP- 33,600 GBP)
    Duration 1-2 years 1 year
    Post Graduation Opportunities Mid-level job positions Entry-level job positions
    Salary High (average salary package of 100,000 GBP) Average (average salary package of 55,000 GBP)

    In conclusion, there is no clear winner for the two programs. Both MBA and Masters in Management have their own target audience and unique selling propositions. Students can decide for themselves and choose an appropriate study option for themselves. 

    Students who wish to study abroad and want to launch their careers in management can choose to study Masters in Management in UK. The program will give a foundation in the fundamentals of managing people and organizations in the real world. The program curriculum also promotes the knowledge and skills demanded by leading companies in business analysis, marketing, financial management, leadership, and strategy, etc.

    FAQ's

    Ques. How much can I make with a masters in management degree in the UK?

    Ans. With a master's in management from UK, you can earn an average annual salary of 45000 GBP (~43 LPA INR). With the experience of 2-3 years, your salaries may hike up to 67,000 GBP (~ 67 LPA INR). 

    Ques. Can I pursue a master's in management in the UK without GMAT?

    Ans. Yes, many business schools in the UK offering a master's in management do not require you to have a GMAT score.   

    Ques. Do I work experience to pursue a master's in management in UK?

    Ans. No, though some business schools prefer students with work experience, it is rarely a mandatory minimum requirement for getting into masters in management programs in UK.

    Ques. How much does a master's in management in the UK cost?

    Ans. Pursuing a master's in management in the UK from top universities can cost from 19-33 Lakhs to complete the program. Additionally, you will require to survive in UK. The amount requires from city to city, London is the most expensive. On average your cost of living in the UK will be 14-17 Lakhs.

    Ques. What do I need to apply for a master’s in management in the UK?

    Ans. International applicants must have a relevant bachelor's degree with 60% or more, ELP test score- IELTS (7.0) or TOEFL (100), and GMAT scores if required by a specific university of choice. 

    Ques. Where can I study masters in management in UK?

    Ans. Some of the popular business schools and universities in UK offering masters in management are Imperial College London, LSE, London School of Business, Business School of University of Edinburgh, Alliance Manchester Business School, Warwick School of Business, Strathclyde Business School, and more.

    Ques. Is masters in management in UK available with placements?

    Ans. Some of the popular UK universities offer placement route for master of management courses. Students opting for placement route through the university usually have a two-year course with one semester or one complete year dedicated to industry experience or placement.

    Ques. Is GMAT mandatory for masters in management in UK?

    Ans. Though universities may ask for your GMAT score as an additionall assessment criteria but for most popular universities it is not mandatory to have GMAT scores as a part of your master in management applications.