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MBA in the UK
British business schools are major players in the international MBA
scenario. Recently, a lot of effort has been put in by British
Universities to attract overseas students. According to a survey
conducted by the International Graduate Insight Group in January
2008, Britain is beginning to compete with America as the most
popular place for overseas students. The factors in Favour of UK are
perceived safety, the reputation of its institutions of higher
learning and the comparative ease in obtaining a Visa.
Advantages of studying MBA in UK
From the perspective of international students, some major
advantages for an MBA in the UK are:
* The duration of the MBA course, which is 1 year instead of 2 as in
the US and Canada
* Most universities in the UK recognize the three year bachelor’s
degree as a pre-requisite for admission to an MBA course
* The British system of education is more flexible. The Oxford MBA
programme for instance, can be taken either full time over a
12-month period, or part-time (EMBA) over 21 months
* A 1-year full-time MBA course in the UK is split into 9 months of
course work and 3 months of dissertation or project work
* Besides favourable rankings of British business schools, studying
in UK is also a culturally stimulating experience as a single campus
might be home to as many as 50 different nationalities
* According to ABS (Association of Business Schools), which is the
representative body of all leading business schools in the UK, 1 in
7 students were studying business and management in the academic
year 2005-06
* In terms of employability for overseas students, Britain’s rules
and Visa restrictions are soon going to be streamlined and made more
user-friendly to brighten the prospects for overseas aspirants
Eligibility and admission requirements
Undergraduate degree:-To pursue an MBA in the UK,
* An undergraduate degree is a prerequisite. Some universities may
however require an Honours degree
* A few may accept students even without a Bachelor's degree, if
professional achievements and work experience are exceptional
* A good academic record is a must for admission to an MBA course in
the UK. Mark sheets, along with transcripts have to be submitted
Work experience: - Work experience is necessary for almost all MBA
courses. Though most universities ask for 2 to 3 years of business
experience, students enrolled in the Lancaster School have an
average of 8 years of relevant work experience, despite the fact
that the school asks only for 3 years of full-time professional work
experience. Birmingham City University, Liverpool Hope University,
University of Central England and others ask for 2 years of
experience whereas Middlesex University and all other AMBA
accredited programmes require a minimum of 3 years full-time work
experience.
Screening exams:
Both TOEFL and IELTS scores are accepted in the UK. Some MBA
colleges also require a decent GMAT score for admission.
* GMAT:-There is greater flexibility over GMAT as a necessary
requirement in the UK. While some universities, like the London
Business School, or, the Manchester Business School insist on GMAT,
most others may not. Lancaster University insists on a GMAT score of
600 or above if the applicant’s degree is not from a recognized UK
university and first language is not English. Brunel University may
ask for a GMAT, if any of the academic criteria are not met by an
applicant
* TOEFL or IELTS: - Proficiency in English is highly valued. TOEFL
or IELTS is a must. Even students who have studied in English medium
are not exempt from TOEFL or IELTS
Referral and Statement of Purpose:
Good references make a lot of difference to an aspirant’s chances
of getting through. Some universities may insist on at least one
reference from one’s current employer. Letters of recommendation
must basically explain what distinguishes the applicant from others.
Another requirement for applying to the British universities is a
statement of purpose or an application essay. These have to be
powerful, well reasoned essays explaining why you want to do an MBA
and how you see yourself contributing to the campus environment etc.
MBA study expenses in the UK
The tuition fee varies enormously within the UK. According to one
estimate, it can vary from £ 5,000 to £ 30, 000 per year. The
tuition fee in Birmingham City University, which is one of the least
expensive universities in UK, is around £ 10,000. An MBA in London
School of Business and Finance, and Lancaster costs £ 17, 500. The
tuition fee for an MBA from Ashridge was £ 29,500 in 2007. Certain
universities allow flexibility in the payment of the tuition fee
over three installments.
The cost of living in the UK is one of the highest in the world.
According to the Lancaster University estimate, living costs will
come to around £ 8,500. The south-east of UK including London, and
other big cities are more expensive. Accommodation in a hall of
residence of a university is more expensive than sharing a flat with
friends.
Funding your MBA program in
the UK
Unlike US, scholarships are not available on as large a scale in the
UK. Only exceptionally bright students qualify for scholarships.
Foreign students are, however, allowed to work for up to 20 hours a
week during the term. Students who are enrolled for courses of six
months or more are entitled to NHC (National Health Centre)
services. The rising cost of Visas and the British immigration
system are major deterrents for students. Nonetheless, an MBA in the
UK is good value for money and the number of overseas students is
projected to triple and reach 8,70,000 by the year 2020, according
to a report by the British Council.
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