MBA in UK vs. India
This article compares and contrasts the MBA programmes offered by UK institutions with those offered by Indian institutions. So, let’s check the scope of studying MBA in UK vs. India.
Studying MBA in UK
The first piece in this series looked at the prices of an MBA in the USA and the differences between the salaries received by students with an American and Indian MBA. The same concept is continued in this article, which compares and contrasts the MBA programmes given by UK colleges with those offered by Indian institutions.
The UK has a reputation for offering top-notch management and legal programmes. Below is a list of the top five business schools, according to “overseas education consultants.”
Name of Institution – The London Business School (University of London)
- UK Ranking – 1
- International Ranking – 4
Name of Institution – Said Business School (University of Oxford)
- UK Ranking – 2
- International Ranking – 6
Name of Institution – Warwick Business School (University of Warwick)
- UK Ranking – 3
- International Ranking – 7
Name of Institution – Judge Business School (University of Cambridge)
- UK Ranking – 4
- International Ranking – 8
Name of Institution – Cranfield School of Management (Cranfield University)
- UK Ranking – 5
- International Ranking – 10
The London Business School (University of London)
Tuition Fee – 98,854
Pre-MBA Salary – 77,000
2021 Salary – 214,000
Years to recover costs – 3.4
Said Business School (University of Oxford)
Tuition Fee – 73,738
Pre-MBA Salary – 58,000
2021 Salary – 135,000
Years to recover costs – 2.6
Warwick Business School (University of Warwick)
Tuition Fee – 48,300
Pre-MBA Salary – 43,000
2021 Salary – 124,000
Years to recover costs – 2.6
Judge Business School (University of Cambridge)
Tuition Fee – 65,083
Pre-MBA Salary – 62,000
2021 Salary – 146,000
Years to recover costs – 2.9
Cranfield School of Management (Cranfield University)
Tuition Fee – 83,720
Pre-MBA Salary – 59,000
2021 Salary – 127,000
Years to recover costs – 2.8
The figures plainly show that there is a significant, nearly three-fold increase in the average wage between those who have an MBA and those who do not. According to the research, one will also be able to recoup their course investment within three years. The most important thing to keep in mind is that this cost recovery is only attainable if one is hired by a multinational company in the UK or Europe. Think about the students who weren’t fortunate enough to find employment in the UK and were compelled to return home to hunt for employment. It will take longer for such students to recoup the money they invested on earning their MBA.
Popular Job Options for MBA-holders in the UK
An MBA from a prestigious UK business school is highly regarded by potential employers. An MBA used to be a requirement for employment in the banking and financial industry. Things are changing; now, MBAs are being hired by both blue-chip firms and well-known internet brands like Google, Facebook, LinkedIn, etc. Guest posting sites The main development to take note of is the evolution of the standard MBA. From specializations in engineering management and technology management to specializations in marketing and finance, the MBA’s reach and related employment opportunities have grown.
According to an article in “The Telegraph,” MBA graduates, particularly those from top-tier schools, are still in demand from blue-chip employers even if the employment market is still unquestionably tight. According to the most recent statistics provided by the Graduate Management Admission Council (GMAC) in January 2013, 92% of business school graduates globally found work three months after graduation in 2012, an increase from 86% the previous year.
While business master’s graduates are included in this statistic, 76% of foreign companies surveyed by GMAC said they expected to hire recent MBA graduates in 2013 compared to 69% who did so in 2012. Additionally, even if recruiters are hiring more than they were a few years ago, despite the fact that they are changing their practices and visiting fewer campuses.
Tips to Find the Perfect Job after the MBA
Updated CV – Maintain your CV and have it professionally created, along with a pertinent cover letter. To gain a sense of how an organized CV should be written, browse websites.
Network – There is no denying the power of social networks; make a profile on LinkedIn, join organizations that are pertinent to you, submit your resume there, and look for positions that are pertinent to you. Take part in forum conversations to learn new things.
The career support team at your business school will be able to assist you in locating employment that fits your skill sets. Attend the hiring events that the team hosts; you can also ask for assistance with your resume and go to the soft-skills training sessions that the team sponsors.
Career portals Sign up for email updates on employment websites in the UK including London Jobs, Reed, and Monster. You will then receive information about relevant job openings in your inbox.
The Indian MBA
Average Fees for MBAs in India
India’s top business school is the Indian Institute of Management in Ahmedabad, which is followed by IIM in Calcutta, XLRI in Jamshedpur, and The Faculty of Management Studies (FMS) at the University of Delhi, and IIM in Kozhikode, which is placed fifth. Since it is a part of a university that is sponsored by the government, the FMS has the lowest tuition fees of any of these institutions. The tuition for any of the top IIMs ranges in price from between Rs 8.75 to Rs 15 lakhs. Additionally, living expenses will range from Rs 3 to Rs 6 lakhs depending on the area. Essentially, Rs 20 lakhs should be enough to support a student through an MBA program at one of India’s top IIMs.
Average Salaries of Top MBA Programs in India
Leading corporations from India and outside hire students from India’s top B-schools on-campus. The typical annual salary package provided by Indian businesses ranged from Rs 18.50 lakhs to Rs 20.50 lakhs. International businesses typically provide yearly salary packages between $100,000 and $120,000 USD.
Team Hotcourses India’s Take:
For Asian and African students, finding a job in the UK after completing their higher education is getting harder as immigration regulations in the UK tighten and the number of jobs available to non-EU and non-UK residents declines.
Decide if an MBA in your own nation will better suit the goal after carefully weighing all of your options. As previously mentioned, prospective employers highly regard and respect MBAs in the UK; therefore, if you can balance your financial needs and have the courage to take the plunge, congratulations on your decision to pursue an MBA in the UK.