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

UK is a heavyweight in the world of higher education, and one of Europe’s biggest hitters in the world of business. 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. 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 2022 suggests more than 15 business schools in the UK are globally ranked within top 100 positions and around 25 in the global top 200.
• Western Europe offers second-best salaries to its MBA graduates after USA. Check Popular Specializations for Jobs in UK after MBA

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 2022. Tabulated below are the top business schools in UK business schools along with their rankings

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 in UK listed below: 

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:

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. 

Know best UK colleges offering MBA without GMAT in UK

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 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. 

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. 

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:

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:

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:

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.