An MBA, or Master of Business Administration, is one of the most sought-after degrees in the world. Every industry in the world wants to hire MBA graduates, as they bring diverse skills and knowledge across finance, marketing, accounting and more. This skill is extremely useful for any business. Most universities in the UK offer MBA programs, so an Indian student has many choices when deciding where to go for a degree in MBA. So, studying MBA in the UK for Indian students can be a great way to advance their careers and gain new insights into how businesses work.

Studying in some of the most prestigious MBA programmes across the UK and the world gives you a leg-up in terms of your resume.

Table 1: Top 10 Business Schools in the UK, Financial Times 2022

MBA ELIGIBILITY IN THE UK

Because of the prestige of the MBA degree, they also come with many eligibility requirements that you are required to fulfil at the time of your application. Doing so will ensure that you are getting the best out of your MBA.

Following are some basic MBA requirements common to most business schools.

• Work experience is needed; anything from 1 and a half to 3 years of experience is a good amount
• GMAT (Graduate Management Admissions Test) score over 550
• A Bachelor’s degree or any equivalent
• Recommendation Letters (ranging from 1-3)
• A copy of all your educational transcripts
• Statement of Purpose/Intent (to explain your reasoning behind doing the MBA)

ABOUT THE GMAT

While the GRE is also another important test while applying for further graduate studies, it is the GMAT that is of utmost importance when you are applying for an MBA degree.

The GMAT is divided into 4 sections:

You can also choose the order in which you would like to do these sections; with Integrated Reasoning and Analytical Writing Assessment being done together. Quantitative Reasoning and Verbal Reasoning can be done separately, with optional 8-minute breaks after each other.

REQUIREMENTS FOR MBA IN THE UK FOR INDIAN STUDENTS

Like most students applying to business schools in the UK, the requirements for Indian students are the same. So they also require:

• Work experience
• GMAT score over 550
• A copy of all your educational transcripts
• Statement of Purpose/Intent

The only additional thing Indian students need to have while applying is a good score on tests of English language such as the IELTS, TOEFL, PTE, CAE etc to prove their proficiency; though this requirement can be waived on fulfilling certain criteria, including a certificate to prove at least two years of study in the English language.

Application Process

The application process for the MBA usually begins in September, with multiple rounds of admissions (usually 3) being held until March. But to get a good scholarship, it is advised to apply as early as you can.

The application process for most MBA schools tends to be similar. Once you have submitted your application, it is evaluated by the Admissions Committee on the basis of the eligibility criteria for the programme as well as your written Statement of Purpose/Intent. If you are successful, you will be called to do an interview which can take place either online or in person depending on the region you’re staying in.

Depending on your interview result as well as your overall application, you will receive an offer of admission.

COST OF STUDYING MBA IN THE UK

Before you start planning to apply for your MBA degree, you should work out an estimated cost of doing so. Most MBA courses have an application fee that can range from £90 to £200. In case of certain financial circumstances, you may reach out to the admissions committee for an application fee waiver.

Once you have secured your admission, you will have to pay the cost of tuition to attend the MBA degree. Depending on the university you attend, the cost of doing an MBA can range from £55,000 to £100,000. Universities tend to provide a range of scholarships and bursaries that help you cover the cost of tuition in case you are unable to afford it. These can be partial, fifty per cent or full scholarships. Education loans can be another way to pay off your tuition fee.

An important thing to do is to calculate the cost of living for the duration of your MBA degree. Depending on the business school, your MBA degree can be of 1 or 2 years. Accordingly, your cost of living will change. While calculating the cost of living, you should include the following:

• Cost of Accommodation/Rent: some universities offer residential scholarships if you live on campus
• Cost of Travel/Transport
• Groceries
• Textbooks
• Eating out/Entertainment (includes subscriptions to streaming sites and more)
• Phone bill
• Miscellaneous costs

Other important costs to keep in mind are the travel costs, which includes the airfare to go to the UK as well as the transportation to get to your university; the visa fees for your student visa as well as the cost of health insurance for the duration of your MBA degree.

POST MBA JOB OPPORTUNITIES FOR INDIAN STUDENTS IN THE UK

Once you have completed your MBA degree, you can obtain a UK Graduate Visa which allows students to stay in the UK for two years. During these two years, you don’t have to be sponsored by an employer, and you can even be self-employed and start a business of your own.

The MBA degree provides you with a leg-up in terms of applying for jobs because combined with your earlier work experience and your MBA education, you can bring in diverse, new insights.

Post-MBA job opportunities include:

• Financial Analyst
• Financial Consultant
• Management Consultant
• Human Resource Consultant
• Marketing Associate/Manager
• Business Development Associate/Manager
• Digital Marketing Specialist

You can even use your MBA degree to start your own business. Or you can even work in other highly specialised and diverse fields.

The salary range for a post-MBA job in the UK tends to start from £35,000 and goes up to £100,000, depending on a variety of factors including the field you’re applying to, the position, previous work experience and more.

CONCLUSION

When you are doing an MBA, you are signalling a commitment to develop and enhance your leadership and team-building skills. You also learn to network and build connections with your fellow students which can be incredibly useful. As stated, MBA degrees also provide you with a leg-up when it comes to applying for jobs as employers look to hire people who can bring in new insights.

So, doing an MBA, especially in a country like UK, will be very beneficial for you and your career.

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