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Scope of studying MBA in UK

This article examines the MBA offered by institutions in the UK and how they differ from an Indian MBA

Mahesh Ramani

An MBA from a top-tier business school in the UK commands immense respect from prospective employers. MBA graduates are still in demand from blue-chip employers, according to ‘The Telegraph’.

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The previous article in this series examined the costs associated with an MBA in the USA and how the salaries earned by students with an Indian MBA and an American MBA varied. This article continues the same theme and examines the MBA offered by institutions in the UK and how they differ from an Indian MBA.

‘The Fab Five’:

The UK has been traditionally known for its top-notch courses in management and law. The Top-5 Business Schools as per ‘The Forbes Magazine’ are as listed below:

Name of Institution

UK Ranking

International Ranking

The London Business School (University of London)

1

4

Said Business School (University of Oxford)

2

6

Warwick Business School (University of Warwick)

3

7

Judge Business School (University of Cambridge)

4

8

Cranfield School of Management (Cranfield University)

5

10

Now let us look at the costs of studying at these institutions along with the pre-MBA salary and the 2012 salary (post-MBA).

Note - All costs in USD

Name of Institution

Tuition Fee

Pre-MBA Salary

2012 Salary

Years to recover costs

The London Business School (University of London)

98,854

77,000

214,000

3.4

Said Business School (University of Oxford)

73,738

58,000

135,000

2.6

Warwick Business School (University of Warwick)

48,300

43,000

124,000

2.6

Judge Business School (University of Cambridge)

65,083

62,000

146,000

2.9

Cranfield School of Management (Cranfield University)

83,720

59,000

127,000

2.8

Number-Crunching:

So the number speak clearly; the difference in the average salary earned before and after an MBA is substantial; almost three times more. Plus going by the data one will be able to recover one’s investment in the course in about three years. The chief point to note here is this recovery of costs is only possible if one gets recruited by an international firm in the UK or Europe. Spare a thought for those students who are not lucky enough to land a job in the UK and are forced to return to their home country looking for a suitable job. Such students will take a longer time to recover the money spent on completing their MBA.

Popular Job Options for MBA-holders in the UK:

An MBA from a top-tier business school in the UK commands immense respect from prospective employers. In the not too distant past an MBA meant a job in the banking/finance sector. Things are changing - blue-chip companies and popular internet business brands like Google, Facebook, LinkedIn etc., are also recruiting MBAs. The chief point to note is that the traditional MBA has evolved; from specialisations in marketing and finance to engineering management and technology management; the scope of the MBA and the associated job-opportunities have expanded.

Here’s what an article in ‘The Telegraph’ has to say: "But while the job market remains undeniably tight, MBA graduates – particularly those from top–tier schools – are still in demand from blue–chip employers. Some 92 per cent of 2012 business school graduates worldwide found employment three months after graduation, up from 86 per cent the previous year, according to the latest data released by the Graduate Management Admission Council (GMAC) in January 2013.

"While this figure includes those with business masters as well as MBAs, 76 per cent of international employers in a separate GMAC survey said they planned to hire recent MBA graduates in 2013; last year 69 per cent hired those who graduated in 2012. And while recruiters' habits are changing – they now visit fewer campuses – they're hiring more than they were a couple of years ago.

Tips to Find the Perfect Job after the MBA:

  • Updated CV - Keep your CV updated; seek help to get your CV well-written along with a relevant introductory letter. Browse through websites to get an idea of how a structured CV should be written.
  • Network - The power of the social network is undisputed; create a profile on LinkedIn; join relevant groups; upload your CV on the website and scout for relevant jobs. Participate in discussions on the forums and gain knowledge.
  • Career Support Team - The Career Support Team at your business school will be able to help you find a job matching your skill-sets. Attend the recruitment events organised by the team; you can also request for help with your CV and attend the soft-skills training sessions organised by the team.
  • Job-Portals - Register on job-websites in the UK like, London Jobs, Reed and Monster; register for email updates and get information about relevant job-vacancies directly in your email. 

The Indian MBA

Average Fees for MBAs in India:

The Indian Institute of Management - Ahmedabad is India’s top-ranked business school followed by - IIM - Calcutta, XLRI - Jamshedpur, The Faculty of Management Studies (FMS) - University of Delhi and ranked fifth is IIM-Kozhikode. Among these institutions the FMS charges the least as tuition fees as it is part of a government-funded university. Studying at any of the premier IIMs would cost roughly between Rs 8.75 and Rs 15 lakhs as the tuition fees. Plus based on the location; living costs would range between Rs 3 to 6 lakhs. In essence, Rs 20 lakhs should see a student through an MBA program in India’s premier IIMs.

Average Salaries for Toppers of MBA Programs in India:

Students from India’s top B-schools get recruited on-campus by top companies from India and abroad. The average annual pay-package offered by Indian companies was between Rs 18.50 lakhs and Rs 20.50 lakhs. The average annual pay package offered by international companies ranges between US$100,000 and US$120,000. 

Team Hotcourses India's Take:

With the immigration laws becoming stricter in the UK and the number of jobs for non-EU and non-UK citizens becoming lesser; it is becoming increasingly difficult for Asian and African students to find a job in the UK after their higher studies.

Weigh all your options clearly and decide if an MBA in your home country will serve the purpose better. As stated earlier, an MBA from the UK is immensely valued and respected by prospective employers; so if you can balance out your financial needs and have the confidence to take the plunge, then all the best for an MBA from the UK.

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