Table of Contents
- 1. Admission Requirements
- 2. Duration
- 3. Mode of Education
- 4. Scholarships
- 5. Cost of Living and Part-time Jobs
- 6. Immigration policies and work visa
- 7. Job prospects and average salary
- 8. More information to help you make the decision
- Best universities for MBA in UK
- Best universities for MBA in USA
- Latest updates to keep in mind
- In the end…
It can be quite a dilemma, choosing between an MBA in the UK or an MBA in the USA. Both destinations are highly reputed for their education, have a rich global culture, and are gateways to numerous career opportunities. But how do you choose the right country for yourself? This detailed comparative guide will tell you everything you should consider as you make your decision.
1. Admission Requirements
The eligibility criteria for different universities may differ. Listed below are the basic criteria you need to fulfill for studying at either of the destinations:
- 3 years of undergard education from a recognized institution
- 680-690 score in GMAT
- 2 – 4 years of work experience
- TOEFL or IELTS scores
- 4 years of undergrad education from a recognized institution
- 720-730 score in GMAT
- 3 – 6 years of work experience
- TOEFL or IELTS scores are an important criterion for eligibility
- A competitive CGPA in your previous degree will give you an added advantage
In the UK, the duration of most MBA courses is 1 year, except at London Business School where it can range from 15-21 months.
For the US, the duration of an MBA program is 2 years. However, a part-time MBA course may stretch to around 3 years.
3. Mode of Education
In the UK, the mode of education strictly adheres to the classical curriculum, where the focus is more on theory rather than practical experience. This gives you enough room to choose from a larger variety of subjects you may find interesting.
Pursuing an MBA in the USA, on the other hand, gives students the option to gain hands-on, practical experience. Even here, you will have the flexibility to explore other subjects, such as the liberal arts, history, etc. There is also scope for research and networking. Students get to attend guest lectures and seminars to supplement their learning.
The USA is comparatively better when it comes to offering scholarships, but there are several options available in the UK as well. At both places, you can choose from three types of scholarships, merit-based, need-based, and scholarships for underrepresented communities. Here are a few you can look into:
- The London Business School Fund Scholarship
- Oxford Saïd Business School Scholarships
- Cambridge Judge Business School Scholarship
- BrokerFish International Students Scholarship
- The 30% Club scholarship
- Fullbright Foreign Student Program
- Harvard University Scholarships
- Wharton’s Emerging Economy Fellowships
- NYU Stern School of Business Scholarship
- University of Chicago Booth School of Business Scholarship
5. Cost of Living and Part-time Jobs
The cost of living depends on factors, like, the university or program you choose, your location, and your lifestyle. While tuition and accommodation are the major expenses, you also need to keep transportation, utilities, and food in mind. The best way to support your expenses is to take up part-time jobs or full-time ones during vacations (if allowed). Given below are average costs you can expect-
- Tuition – $10,000 to $15,000 per year
- Accommodation and living expenses – $10,000 to $15,000 per year
- Visa – $310
A total of 20 hours per week (part-time) and full-time (only on campus) during vacations is allowed. In some cases, part-time jobs are not allowed.
- Tuition – $70,000 to $75,000 per year
- Accomodation and living expenses – $2,500 to $5,000
- Visa – $510
All universities in the USA allow students to take up part-time jobs. For the first year, you can only work 20 hours a week on-campus while maintaining your F-1 visa status. Then, during your first summer vacation, you can work for up to 40 hours per week.
Post 1 year, you can get a job off-campus. But keep in mind – there are strict guidelines for this given by the US Citizenship and Immigration Service, which you need to look at while looking for a job.
|1.||Eligibility||– 3 years of graduation degree|
– 680 to 690 GMAT score
– 2 to 4 years work experience
– TOEFL/IELTS score
|– 4 years of graduation degree|
– 720 to 730 GMAT score
– 3 to 6 years work experience
– TOEFL/IELTS mandatory
– Competitive CGPA
|2.||Course Duration||1 year||2 years (3 years for part-time) MBA|
|3.||Age Limit||Up to 35 years||25 to 28 years|
|4.||Application choices||Wide range of GPA and GMAT cutoff||Stringent GMAT cutoff|
|5.||Mode of Education||Strictly curriculum focused||Opportunities for practical application|
-Guest lectures and seminars
|6.||Cost of Living + Tuition||$30,000 per year||$80,000 per year|
|7.||Work Visa||2-year work permit||12-month work permit|
|8.||Average salary||$65,000 – $85,000 per year||$80,000 – $120,000 per year|
6. Immigration policies and work visa
Immigration policies in the UK and the USA are subject to change from time to time, so you should keep yourself updated.
The USA is stricter when it comes to providing visas to international students. But the competition to get into the UK is much more fierce, so your chances of getting in either nation are more or less the same.
It’s important to note that-
- For a 1 year program in the UK, you get a visa for 16 months. But according to the new points-based immigration system, the UK allows students to stay back and work for 2 years, irrespective of the type of job and salary.
- For the USA, your application may get rejected if they get think you plan to stay in the US after your study. However, on completion of your degree, you get 3 months to look for a job. After which you can stay and work for 12 months.
7. Job prospects and average salary
Pursuing an MBA abroad is one of the most sought-after career choices today for a reason. It not only prepares you to directly step into a management position but also offers high-end salaries.
- Average salary of an MBA graduate in the UK is between $65,000 – $85,000 per year.
- Average salary of an MBA graduate in the USA is between $80,000 – $120,000 per year.
Keep in mind that MBA is a competitive degree. So the kind of job and pay you get depends on the college you’ll graduate from as well as your work experience.
8. More information to help you make the decision
Flexible Application Choices
Colleges in the USA tend to keep tight GMAT scores and allow students to choose colleges only on that basis without extending the cut-off. European schools, however, have a wide range of GPA and GMAT scores as they put more emphasis on the application quality and the experience of the applicant.
The age limit for an MBA program in the USA is between 25 to 28 years, whereas, for UK programs, candidates up to 35 years old can apply.
The education system of a country and the rankings of its institutions can further help you to decide between MBA in UK vs. MBA in USA. As per UN statistics, most of the top universities are in the US. But the UK nonetheless has a historic reputation for academic excellence with universities like Oxford and Cambridge.
Let’s look at the top universities for MBA in both countries.
- London Business School
- Judge Business School, University of Cambridge
- Saïd Business School, University of Oxford
- Warwick Business School, University of Warwick
- Imperial College Business School, Imperial College London
- Stanford Graduate School of Business, Stanford University
- Wharton School of Business, University of Pennsylvania
- Sloan School of Management, MIT
- Harvard Business School, Harvard University
- Columbia Business School, Columbia University
Latest updates to keep in mind
Recently, there has been a shift in trend-
- Aspirants are now leaning toward a one-year MBA program from European schools rather than pursuing more extensive MBA programs in the USA. It seems to guide students in the right direction along with lower fees, cost of living, and without much work experience.
- The extensive two-year MBA program in the USA however, is suitable for a potential business person. The USA has special executive MBA programs that you can also look into.
When considering MBA in USA or MBA in UK, the cost of living will vary as MBA in the UK will cost less. But if you consider the return on investment on your course, MBA programs in the USA can get you just that.
In the end…
Whether an MBA in UK or an MBA in the USA is more beneficial is something incredibly personal. The right destination for you depends on the college and program you choose and what you intend to reap out of it. Both the UK and the USA are global destinations with a plethora of opportunities that can serve you well if make your choice aligned with your needs.
We hope this information has helped you get a better picture of the battle between pursuing an MBA in UK vs an MBA in USA. If you’re still unsure about what to do or have any doubts or questions, feel free to drop a comment or reach out to us. We’d be very happy to help!