MBA in UK vs MBA in USA | What to choose and how?

MBA in UK vs MBA in USA | An introduction

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. 

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:

UK

• 3 years of undergard education from a recognized institution
• 680-690 score in GMAT 
• 2 – 4 years of work experience
• TOEFL or IELTS scores

USA

• 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

Duration

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.

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. 

Scholarships

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:

UK

• The London Business School Fund Scholarship
• Oxford Saïd Business School Scholarships
• Cambridge Judge Business School Scholarship
• BrokerFish International Students Scholarship
• The 30% Club scholarship

USA

• 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

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-

UK

• 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. 

USA 

• Tuition – $70,000 to $75,000 per year
• Accommodation 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.

S. No.	Criteria	UK	USA
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	$38,000 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

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.

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.

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.

Age Limit

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.

Academic Excellence

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.

Best universities for MBA in UK 

• 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

Best universities for MBA in USA 

• 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. 

Key takeaways

• MBA programs in the UK and USA have different admission requirements. The UK generally requires a 3-year undergraduate degree and lower GMAT scores, while the USA usually requires a 4-year undergraduate degree and higher GMAT scores.
• MBAs in the UK are often shorter, usually taking around 1 year to complete, whereas MBAs in the USA typically last for 2 years.
• The UK focuses more on theoretical knowledge, while the USA provides opportunities for practical experience, including guest lectures and networking.
• The USA generally has higher tuition fees, but offers more scholarship options. The UK has lower tuition fees, but the cost of living in both countries can be a significant factor.
• Both countries have different immigration policies and work opportunities post-graduation, with the UK offering a 2-year work permit and the USA offering a 12-month work permit for MBA graduates.

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!

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FAQs

Q1. What are the general eligibility criteria for an MBA in the UK and the USA?

Answer: In the UK, you generally need a 3-year undergraduate degree, a GMAT score between 680-690, 2-4 years of work experience, and TOEFL/IELTS scores. In the USA, requirements usually include a 4-year undergraduate degree, a GMAT score between 720-730, 3-6 years of work experience, and TOEFL/IELTS scores.

Q2. How long does an MBA take in the UK compared to the USA?

Answer: An MBA program in the UK typically lasts for 1 year, while in the USA, it generally takes 2 years to complete the course.

Q3. Are there scholarship options for MBAs in both countries?
Answer: Yes, both the UK and the USA offer various types of scholarships. For instance, the UK has the London Business School Fund Scholarship, and the USA offers the Fullbright Foreign Student Program.