What
makes the UK an excellent choice for business education? What are the benefits
of getting an MBA from the UK? Which are the best business schools to target?
What does it take to get into a top MBA in the UK? After searching for the
answers to these questions, if you’re feeling knackered or you’ve got your
knickers in twist. An MBA from the UK offers several benefits. First off, the
names Cambridge and Oxford are synonymous with a history of excellence. So are
the London School of Economics, London Business School, Manchester University,
you name it. Over 10% of the top 100 world’s best MBA programs
in the world are from the UK. These are not just good business schools but
global brand names respected in both academic and professional circles. Each
year GMAC, the company that owns GMAT, surveys the number of score reports by
geography– including how many score reports are sent to a country. The
popularity of a UK MBA is evident from the GMAT scores sent to the UK in the
recent years. Despite the instability introduced by the Brexit vote, the number
of scores sent in the past couple of years haven’t reduced from about 5 years
ago, before Brexit. In fact, non-European Union score reporting had an
unexpected increase in applications. From 3.8% in 2016, it went up to 4.4% in
2017.Clearly, whatever fear Brexit may have induced among the immigrant
population, UK MBA aspirants were quite unfazed by it.
MBA tuition fees in the UK:
Global
stalwarts like Cambridge and Oxford have enough might to hold off against the
massive political changes that could possibly affect future jobs. But there’s
also some good news on the topic of work permits after MBA, which we’ll cover a
little later. Here are some of the best business schools and world’s best MBA
programs in the UK that regularly feature in the top 100.Though the cost of an
MBA in UK can be steep, between $40,000-$75,000, most UK MBA programs are only a year long. This
provides an added advantage to make good on the opportunity cost of getting a
two year MBA degree from USA. UK also has some of the major financial centers
of the world. London, for instance, provides massive networking opportunities
for cashing in on the MBA ROI. The typical expenses in the UK depends on the
city housing the university.
Living in the UK and part time job:
Here’s
the monthly cost of living in the UK for some popular cities. International
students are allowed up to 20 hours of part-time on-campus jobs and full-time
jobs during holidays. This can help in relieving the financing stress,
especially for MBA students with heavy student debts. The caveat is to
understand how to balance the MBA workload with a part-time job without
compromising the quality of learning. This is why students at the top programs
with a rigorous schedule are unable to work while studying. Let’s talk about
life in the UK as an international student. One major advantage for
internationals is UK’s highly cosmopolitan nature. While that gives
international students a cozy home away from home feeling, communicating in the
Queen’s language makes it easy to transition into the country. You know, ‘coz
the English are known to speak in…English. So, no need to squint through Google
translate to order a cup of tea!
Work visa and PR in the UK:
Let’s
move on to the work visa and permanent residency after an MBA in the UK. This
is one of the biggest perks of studying here. Compared to the one year OPT in
the United States, UK has very recently become quite generous with the duration
of work authorization permit after graduating from a recognized UK institution.
The Post-Study work visa or the Graduate route is open to all international
undergrad or above students at an approved UK Higher Education Provider. It
will begin with the intake of 2020–2021 students.The visa allows eligible
students to work, or hunt for work, in any career or position for two years
after completing studies, according to the UK government’s website. In
addition, the UK has also opened up fast-track visa options for scientists. It
is committed to increasing the cap limit of PhDs entering the skilled work visa
path. In simpler words, the UK is aiming to become a STEM hub. Which in turn
means, students of STEM designated programs, will have better chances of
finding long-term employment, and a position that can help them get into the
skilled work visa system. Permanent resident status is automatic after living
and working in the UK for at least 5 years. Coming to the eligibility
requirements, most UK MBA programs, like anywhere else, follow the same recipe
to judge the MBA readiness of its applicants. And they do so by monitoring some
or all of the application criteria, as sampled from various top B-schools in
the UK.
GMAT or GRE Score required for admission:
These standardized test scores are used to compare candidates against a baseline. Typical GMAT scores, even in the top programs are in the 680–700 range. Almost none mention a minimum requirement but the generally accepted competitive score is over 650. As for GRE, a score of over 160 for both Verbal and Quantitative, is considered competitive. An English language proficiency test may not be necessary if the applicant has a degree where the medium of instruction has been English. Though this concession really depends on the program. Typical proficiency tests accepted include- TOEFL, IELTS, Cambridge CPE, CAE or PTE Academic scores. When it comes to undergraduate degree, the usual good academic pedigree is a requirement no matter where you apply. Though anyone with a low GPA can also explore as long as their profile is otherwise strong. A minimum of two years of work experience is usually expected. Though the average is about 6 years. The details are program dependent but the quality of previous employment should be able to demonstrate leadership and applicants should be able to add to the classroom richness through their global experiences. The rest of the application requirements would include MBA essays, reference or recommendation letters, CV and interviews.
