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    Top Business Schools in UK: Courses, MBA in UK, Costs, Scholarships and Scope

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    Anam Shams

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     UK is a heavyweight in the world of higher education, and one of Europe’s biggest hitters in the world of business. Business schools hold a level of international cachet matched by few nations in the world.  While the country’s imminent departure from the European Union has caused a degree of uncertainty in the business world, it seems safe to say the country’s institutions of business education will continue to be esteemed among the world’s best. While London looms large over the nation’s business landscape, there are plenty of prestigious options across this island nation like Saïd Business School, University of Oxford, Judge Business School, University of Cambridge

    • The duration of the MBA in UK is rather less in comparison to USA and Canada.
    • QS Rankings 2020 suggests more than 15 business schools in the UK are globally ranked within top 100 positions and 24 in the global top 200
    • 2019-2020 Higher Education Statistics Agency revealed 127,335 international students were enrolled in different business Colleges in the UK. 
    • The UK Government has reinstated two-years work visa post studies for International students to be functional from the 2020-2021 academic year. 
    • Western Europe offers second-best salaries to its MBA graduates after USA. 
    Average Salaries (GBP) by Region

    Thus, adding a fundamental reason to choose business programs in the UK and experience working in the global market. Additionally, more than 25 multinational organisations are headquartered in the UK, making it the vantage point for world market exposure.

    Top Business Schools in UK

    More than 50 best business schools in the UK have made it to the QS Rankings 2020. Tabulated below are the top business schools in UK business schools along with their rankings

    Business Schools in UK FT Rankings QS Rankings Degrees offered
    London Business School #7 #3 6 Master’s degree, 5 Ph.D. programs in relevant field
    University of Cambridge #19 #8 1 Undergraduate degree, 6 Postgraduate degrees and several relative postdoctoral degrees
    London School of Economics and Political Science (LSE) - #10 2 Undergraduate degrees, 5 postgraduate degrees, 4 doctoral degrees
    University of Oxford (Saïd) #21 #11 1 Undergraduate degree, 4 Postgraduate degrees and several relevant postdoctoral degrees
    University of Warwick #43 #23 3 Undergraduate degrees, 10 Postgraduate programs, 2 Doctoral degrees

    Business Schools in UK: Degree Types & Specializations

    The top business schools in UK offer an abode of specializations at undergraduate, postgraduate and doctoral levels. Thus, tailoring absolute return of investment for international students aspiring to pursue business studies in this country. Some of the degree types and specializations offered to study abroad in UK listed below: 

    Education level Degree Specialization
    Undergraduate BA (Hons) Economics and Management
    BSc International Business
    International Management
    Management
    BSc (Hons) IT Management for Business
    Postgraduate MSc International Business and Management
    Management
    Business Analysis and Strategic Management
    Management of Information Systems and Digital Innovation
    Marketing and Strategy
    Business and Finance
    Master of Studies Entrepreneurship
    MPhil Management
    MBA International Business, Finance, etc
    Executive MBA -
    Doctorate Doctor of Business Administration International Business
    Organizational Studies
    Management Science

    Additionally, universities in the UK provide executive diploma or graduate certificate programs helping professionals to enhance their prospects in relevant fields. These programs are comparatively shorter in duration than other degree programs. 

    Business Schools in UK for Undergraduate Programs

    Some of the best business schools in the UK provide a multitude of undergraduate programs. Most of the courses are 3 to 4 years in duration. Universities also allow students to enrol in intercalated programs in the third or fourth year of study with partner universities abroad.

    Below are the details of the best undergraduate business schools in UK for international students:

    Program University Program Duration (in years) Tuition fees (in GBP per year)
    BA (Hons) Business University of Strathclyde 4 15,300
    BSc (Hons) International Management University of Manchester(Alliance Manchester Business School) 4 announced along with admissions
    BSc Management University of Warwick (Warwick Business School) 3 25,770
    BSc Mathematics, Statistics and Business London School of Economics and Political Science 3 21,570
    BA (Business and Management) Durham University Business School 3 21,500

    Post completion, graduates can seek jobs in diverse sectors like health, construction, fashion, grocery etc. The initial pay band is £25,000- £27,000 per year, depending on industry-specific knowledge and skills of the candidates. Hence to upscale, students usually opt for further studies like International Business Management or MBA.

    Business Schools in UK: Eligibility for Bachelors

    Eligibility criteria for international students are specific to their nationality and vary with universities. However, there are some common requirements that applicants need to meet before they apply for Undergraduate programs such as:

    • Qualifications: At least 70% to 75% in classes X and XII/Higher Secondary Certificate 
    • Language proficiency: IELTS-7.0(overall 6.5)/ PTE-75 (minimum 59 in each component)/ CAE-grade A/ CPE-grade C

    Language tests are important for students who are not native English speakers. However, students need to check specific University recommended test-type they need to take. Admissions for undergraduate programs can be made by UCAS portal

    Business Schools in UK : Fees and Funding for Bachelors

    • The yearly tuition fees for Undergraduate programs in Business ranges from £15,000 to £25,000 for each academic year in the UK. 
    • University funding is comparatively less for undergraduate programs. Nevertheless, University of Oxford and Warwick Business provide scholarships for Undergraduate programs.
    • External as well as government scholarships available for international students in UK

    Business Schools in UK for Postgraduate Programs

    A Postgraduate degree in Business is the ultimate choice for acing entrepreneurial skills. MBA in UK is one of the most popular programs opted at postgraduate level. Business studies in the UK are globally renowned with a larger share of universities making it to the QS Global Rankings repeatedly every year. 

    Degree University Program duration (in months) Tuition fees per year (in GBP)
    MSc in Management and Strategy London School of Economics 12 29,760
    MBA Warwick Business School 12 40,050
    MSc Management Alliance Manchester Business School 12 23,000
    MBA University of Oxford (Saïd Business School) 12 59,490
    MBA London Business School 15-21 87,900

    MBA or postgraduate programs in Business from UK universities represent more than 55% nationalities of the world. Additionally, there are other degrees offered such as:

    • Master of Science in Marketing
    • Global Masters in Management

    Aside from this, these universities also provide joint degrees, Executive MBA and Master’s degree with a Major in Management.

    MBA Schools in UK

    MBA is one of the most sought after programs across the globe. As per QS Salary trend reports, the UK has been featured as the fifth highest payer for MBA degree holders. 90% of the MBA graduates from UK tend to find a job within a minimum of 3 months of time post completion of the degree. Given below is a graph giving the weighted salaries of top business schools in UK. 

    Weighted Salary (GBP) by University

    Business Schools in UK: Eligibility Criteria for Masters

    To apply for postgraduate program in Business, aspirants need to meet the following requirements:

    • Admission test (Only for MBA programs): GMAT/ GRE
      • As per the GMAT geographic trend reports of 2018, it was found out that a rise was observed in the number of international students sending GMAT scores for admissions to business schools in UK to 4.4% from a previous 3.6% (2017)
    • Academic qualification: Bachelors’ degree with minimum upper second class (ie., 60%-69% marks) in honours subject
    • Language requirements: CAE- grade B, CPE- grade C , PTE- 66-73, IELTS-7.0 , TOEFL (internet-based)- 100

    Apart from this, certain institutions like Warwick Business School and University of Oxford expect 2-3 years of professional experience. 

    Business Schools in UK: Fees and Funding for Masters

    Tuition fees for master’s programmes or MBA from business schools in UK vary between £29,000- £88,000 per academic year.

    • Students need to pay an additional, non-refundable fee of £2,500 to £8,000 at the time of admission.
    • Students are given the scope to pay tuition fees either as lump sum or in instalments. 
    • Applicants from countries with low income (as stated by the World Bank) can appeal for admission fee waiver during the application process.
    • Scholarship programmes can reduce tuition fees by 50% and in exceptional cases even more than that. Find out some of the popular scholarships for postgraduate business programs in UK
    • External funding is available provisioned by banks or other financial institutions.

    Business Schools in UK for Doctorate

    Doctoral degrees allow students to be experts in a particular field of study. With the availability of student loans and University scholarship in the UK, this degree has become exceptionally more accessible. Here is a list of some popular degrees for PhD in UK:

    Degree University Program duration (in years) Yearly fees (in £)
    PhD in Management Science and Operations London Business School 5 May not be required for students who complete in 4 years
    DPhil in Management University of Oxford 3-4 20,920
    Doctor of Business Administration Warwick Business School 5 27,000
    PhD in Management Program City University of London (CASS Business School) 4 9,700
    Business Doctorate University of Cambridge 4 80,000

    Admission committees decide upon the candidature for DPhil or PhD programs based on a student’s performance in the interview process. This is alongside academic qualification and language requirements. 

    Business Schools in UK: Eligibility Criteria for PhD

    Eligibility criteria for Doctoral programs are stated below:

    • Admission test: GMAT/GRE with at least 80 percentile
    • Language requirements: Minimum scores for IELTS-7.0/ TOEFL-100/ PTE-66. 
    • Academic profile: 2.1 to 3.0 GPA in Undergraduate course and Minimum upper second class (average 60%-69% ) in MBA or Master’s degree in relevant subject

    Additionally, there are other specific mandates for Doctorate programs pertaining to each university. 

    Business Schools in UK: Fees and Funding for PhD

    Tuition fees for Doctorate programs at business schools in UK range between £21,000 and £80,000 for each year. 

    • The trend for fee structure reveals an exponential reduction until completion of program tenure. This means the first year of the program comes with a heavier price compared to the following years.
    • Apart from university scholarships, privately-run organizations fund Ph.D. programs for international students in the UK. 
    • Some universities do not charge tuition fees if the student completes the degree in 4 years. In case it is completed in 5 years a continuation fee may be charged instead of tuition fees. 

    Scholarships by Business Schools in UK

    For an international student, apart from tuition fees, the cost of living is an added expense. However, scholarships can reduce the overall cost of studying in the UK. Scholarships provided at different educational levels by business schools in UK are listed below:

    Scholarship Organization Eligible students Scholarship Amount (in £)
    Cass Business School International Scholarship City University of London (CASS Business School) Overseas students applying for the undergraduate program in business 2,000
    GREAT Scholarship British Council All undergraduate programs 10,000
    The Skoll Scholarship Skoll Foundation Students applying for MBA from University of Oxford 14,985
    BrokerFish International Student Scholarship IEFA All programs 1,000
    WBS Scholarship Warwick Business School Students applying for PhD in Business and Management -

    The procedure to obtain a Scholarship from business schools in UK is quite competitive. As a fact, students need to demonstrate their intellect and purpose behind an individual study.

    Business Schools in UK: Career Scope

    With world-class educational quality and a global market to offer, 80% of the graduate jobs are in the business sector. Having said that, employers also provide graduate training programs for retaining students in commercial roles.

    • In the UK, postgraduates earn 29% more than graduates whereas Ph.D. holders in business earn 23% more than postgraduates
    • There is an evident pay gap between genders with male counterparts earning 5% more in managerial roles.
    • Some of the top-rated employers of Business graduates in the UK: Bain & Company, McKinsey & Company, FTI Consulting, Boston Consulting Group etc.
    • 99% of Business graduates in the UK are employed by small or medium companies

    Here’s a detailed account of probable job roles and salary packages after graduating from Business Colleges in UK:

    Job Role Annual Package (in GBP)
    Business Analyst 37,000
    Management Consultant Entry-level: 25,000-30,000
    5 years’ experience: 50,000
    +10 years’ experience: 125,000
    Audit Manager 50,000-70,000
    Business Development Manager Entry-level: 22,000-25,000
    Mid-level: 30,000-60,000
    Senior-level: 80,000
    Asset Protection Associate 151,000
    Financial Manager 60,000-100,000 and more
    Administration Manager 134,000
    Professor (MBA) 101,018-103,886
    Operational Researcher 100,000 and higher

    To sum up, business studies from globally renowned universities or MBA colleges in UK is a profitable deal. This is in terms of future prospects for research studies and jobs. However, students need to adhere to university-specific requirements to crack the deal for admissions or even achieving a scholarship.

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