What Is The Average MBA Salary In The UK?
Are you considering an MBA in the UK? An MBA can be a great investment in your career, but it’s important to know what you’re getting into. Here’s a look at the potential salary you can expect after graduation, as well as some of the long-term benefits of an MBA.
The average salary for an MBA graduate in the UK is £55,000 per year. However, salaries can vary depending on the school you attend, your specialisation, your work experience, and your location. For example, graduates of top business schools like London Business School can expect to earn significantly higher salaries than less prestigious schools.
In addition to the higher salary, an MBA can also lead to other long-term benefits, such as:
- Global Perspective: An MBA is a globally accredited program, so you’ll have the opportunity to learn from and network with people from all over the world. This can be invaluable if you’re interested in working in a global business environment.
- Hands-on experience: An MBA program will give you the opportunity to gain hands-on experience in areas such as finance, marketing, and operations. This can help you develop the skills and knowledge you need to succeed in your career.
- Knowledge and skills: An MBA will teach you the latest theories and practices in business management. This knowledge and skills will be valuable to you throughout your career.
- Worthwhile Investment: An MBA is a significant investment, both financially and mentally. However, it can be a worthwhile investment if you’re serious about advancing your career.
If you’re considering an MBA, be sure to do your research and choose a program that’s right for you. There are many great MBA programs in the UK, so you’re sure to find one that meets your needs.
While admissions for the 2023/24 academic year may already be closed, you can still apply for the 2024/25 academic year. Let’s look below for the top universities in the UK to study an MBA and what a typical salary will look like.
Top MBA universities in the UK
The UK is home to some of the world’s leading universities, many of which offer MBA programs. Here is a list of the top 10 universities for an MBA course in the UK, along with the cost of tuition for the 2023/24 academic year:
|Top Business University
|2023/24 MBA Tuition Fees
|2024/25 MBA Tuition Fees
|London Business School
|London Business School MBA
|Judge Business School,
University of Cambridge
|Judge Business School MBA
|Chicago Booth School of Business, The University of Chicago (London Campus)
|Chicago Booth EMBA London
|Saïd Business School,
University of Oxford
|Said Business School MBA
|Imperial College Business School
|Imperial College MBA
|Warwick Business School
|Warwick Business School MBA
|Alliance Manchester Business School,
|Alliance Manchester Business School MBA
|University of Edinburgh
|University of Edinburgh Business School MBA
|Cranfield School of Management
|Durham University Business School
|Durham University Business School MBA
Reference: QS Top University Global MBA Rankings: Accessed 3 August 2023. Link: https://www.topuniversities.com/university-rankings/mba-rankings/global/2023
MBA salary expectations
The average MBA salary in the UK is £55,000 per year. However, this number can vary depending on a number of factors, including the school you attend, your specialisation, and your work experience.
Below is a breakdown of the average salaries and the average salary after 3 years from four of the top 10 business schools in the UK:
- London Business School: £99,750 | £145,700
- Imperial College London: £68,400 | £120,800
- Judge Business School: £92,500 | £138,900
- Alliance Manchester Business School: £50-60,000 | £111,400
It’s important to note that these salaries are just averages and the ceiling salary may vary depending on each specific circumstance. For example, graduates with more years of experience or who specialise in in-demand areas such as finance or consulting are likely to earn higher salaries.
Which industry attracts the most MBA graduates?
The most popular industries for UK MBA graduates are consulting, finance, and technology. The percentage of graduates who are hired into each industry varies from university to university and has also changed over time. For example
At London Business School (LBS), the class of 2019/20 had the following distribution of graduates by industry – Consulting 40%, Finance 21%, and Technology 28%.
At Imperial College London, the class of 2019/20 had the following distribution of graduates by industry – Consulting 20%, Finance 30%, and Technology 22%.
In 2022, the distribution of graduates in these industries changed slightly.
LBS: Consulting 37%, Finance 27%, and Technology 29%.
Judge Business School: Consulting 29%, Finance 30%, and Technology 10%
Interested in pursuing an MBA?
At Lendwise, we understand the importance of an MBA. It can help you advance your career, earn a higher salary, and achieve your professional goals. But we also know they can be expensive.
We also understand that everyone’s journey is different. Whether you’re applying for a part-time or full-time MBA, the loan can help you achieve your goals. When you’re ready, you can *apply online. We’ll help get on the path to success.
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