The advantages of studying abroad range from developing second language skills to broadening your perspective on the world. Students who pursue a master’s degree abroad have the chance to immerse themselves in the beauty and culture of their host country, including its museums, natural marvels, landmarks, and new landscapes.
As immersion is the shortest learning technique, adding extra language classes when you are out and about can be a great way to meet new people.
You may improve your people skills and gain a deeper understanding of other people, especially those from various cultures, by being exposed to various types of individuals.
The UK is a popular destination for postgraduate study for several reasons, including its wide selection of courses and esteemed universities. But have you considered the perhaps less expensive options in its neighbouring European nations?
Tuition costs, scholarships, grants, and the general cost of living were taken into account when comparing which country is more or less expensive for international students.
Employers emphasise MBA graduates with foreign experience and education in today’s globalised, interconnected society. In fact, according to research by IES Abroad, 90% of MBA graduates who studied abroad found a job within six months of their graduation, compared to just 49% of all general graduates.
A significant portion of the world’s top institutions is located in the UK, US, and EU, three countries with highly recognized higher education systems. If you’re deciding between the UK and Europe for your master’s program, keep reading to know which is more affordable for international students.
Studying MBA in Europe vs UK
Postgraduate courses are frequently longer in the continent, where two-year Master’s degrees are relatively typical. In contrast, a full-time Master’s program in the UK is typically a one-year program.
However, an extended European Master is not necessarily “worth more.” Remember that your study pace will differ: The dissertation portion of a UK master’s program takes place during the summer “holiday,” which isn’t a vacation at all. Internships are a common choice for European students between their first and second years.
Your optimal plan of study will likely depend on whether you want shorter, more intensive master’s programs or lengthier programs that provide you with more flexibility.
Although the University of Bologna is the oldest institution of higher learning in Europe, several of the world’s most renowned and illustrious universities are located in the United Kingdom. It was founded about ten years before Oxford University.
Due to their shared membership in the larger European Higher Education Area, continental and British university systems today are remarkably comparable.
The major distinction is the existence of two different types of universities in various European nations: research institutions and universities of applied sciences. The second group offers programs that are more professionally oriented and practical.
Although they offer outstanding master’s degrees, they rarely offer doctoral degrees. In other countries, universities of applied sciences are known by different names: “Fachhochschule in Austria” and Germany, “Hogescholen in the Netherlands,” and “Högskolor in Sweden,” etc.
Most UK universities offer a comprehensive range of Bachelor, Master, and Ph.D. degrees. However, their specific programs and areas of specialisation will differ.
Rankings play a significant role in evaluating the quality of educational institutions, including business schools. While traditional international rankings such as the Times Higher Education or QS World University Rankings are widely recognized and used by students, it is important to note that there are other reputable rankings and recognitions that can be useful in evaluating the quality of business schools.
While it is true that UK business schools frequently claim the top ranks in international rankings, it is important not to discount the accomplishments of European business schools. In fact, when you narrow your focus to specific topics or areas, European business schools in European countries are among the top institutions worldwide.
To help students make informed decisions, it is important to consider multiple factors and sources of information when evaluating the quality of business schools, including rankings, recognitions, and other sources of information such as student testimonials and program outcomes. In this regard, it is worth noting that UBI Business School, a European business school, received a 5-star QS rating for teaching, online learning, and employability, which is an impressive accomplishment and suggests that it is a high-quality institution in those areas.
As soon as the annual results of various rankings and recognitions for business schools are made public, it is important to review the most recent overall rankings and what they signify for postgraduates, in addition to other relevant information, to make an informed decision about the best business school for one’s needs.
Comparison of Tuition Fees
There are very few UK universities that offer a completely free education. Usually, you must apply for financial aid and scholarships.
Additionally, overseas students typically pay roughly twice as much for a master’s degree in the UK as domestic students. The average cost for domestic students pursuing a full-time taught master’s degree is 8,407 pounds, whereas the average cost for overseas students is 16,082.
Although there might be wide variations in tuition costs across Europe, they are often less expensive than in the US and UK. In some instances, master’s programs are even provided for free; nevertheless, this does not imply that the standard of instruction has been compromised. A master’s degree from UBI Business School (EU) costs 28,500 Euros.
Scholarships and Grants
Universities in the UK and across Europe provide merit-based scholarships and study grants to assist you in affording all or part of your costs. The Chevening Scholarship and the Erasmus Mundus Joint Master Degree (EMJMD) Scholarship are two well-known fully-funded awards that you may have heard of.
A few UK universities offer fully financed scholarships, such as the University of East Anglia Scholarship and the Dean’s Award for Academic Excellence Scholarship, even though most do not offer tuition-free admission.
Some of the fully-funded master’s scholarships available in Europe include the ICP Connect: VLIR-UOS Master Scholarship, the Eiffel Excellence Scholarship Program, and the Erasmus Mundus Joint Master Degree (EMJMD) Scholarship.
UBI Business School offers various scholarships for prospective and existing students. Learn more about UBI Business School scholarships and its terms and conditions.
Most UK and EU universities require applicants to hold a bachelor’s degree in a relevant field. International applicants must meet English language requirements and have a comparable overseas degree from an accredited higher education institution (TOEFL or IELTS). The admission requirement in UBI Business School’s MBA is a minimum of Band 6 IELTS or TOEFL IBT 7.
While most colleges demand an upper second-class degree (2:1) or its equivalent for admission to a master’s degree program, some universities and courses also admit students with lower second-class degrees (2:2).
The basic requirements for master’s admission in the UK vary depending on the university, but generally speaking, they include the mandatory 16 years of primary education, an average GPA of 3.0 or 80% or higher, and standardised test scores for the GRE, GMAT, LSAT, or MCAT, depending on the chosen course.
Master’s degrees typically concentrate on one specific aspect of a larger subject, offering students a greater specialised knowledge. They are also more versatile in module selection and study alternatives, more intense, advanced, and time-consuming, and have smaller class sizes.
In the UK, master’s programs that are taken part-time often range between two and four years, whereas full-time master’s programs typically last one or two years. Writing a dissertation and completing a set of modules are standard study requirements.
Although most full-time master’s programs in Europe last two years, some are only one year long. Some programs last two years and are exclusively available to students from the EU. After finishing it, you’ll be qualified to pursue a Ph.D.
International quality assurance standards will ensure the worth and reputation of your master’s programs.
When considering studying in London or Brussels, it is important for international students to factor in the cost of living in both cities. When compared to Brussels, the cost of living in London is generally higher, with housing being a significant expense in both cities.
To help international students plan their budget, the cost of living in both London and Brussels can be broken down into several categories, including utilities, groceries, entertainment, gyms, housing, transportation, health care, and personal care. Of these categories, utilities, groceries, and transportation are generally comparable between the two cities. However, housing costs in London are generally higher than in Brussels, with many international students opting for shared accommodation in both cities to help reduce costs.
International students should carefully research and compare the cost of living and educational expenses of different schools and programs in both London and Brussels to make an informed decision about the best option for their needs.
MBA Programs in European Schools
Europe leads the way in business education because of its wide selection of top-notch MBA – Master of Business Administration – programs.
Check out a list of some of the best European business schools that offer MBA programs taught in English. Respected European business school rankings list these schools.
1. UBI Business School, Luxembourg and Brussels
UBI Business School’s BSc and MBA programmes are validated by Middlesex University London, a British university based in London, with a distinguished heritage of excellence and innovation in higher education. It is one of the top 100 Young Universities in the World (Times Higher Education) and top 10 transnational universities (Times Higher Education) in the world.
UBI Business School’s MBA program starts from 28,500 euros.
2. ESMT Berlin, Germany
With a stellar reputation, ESMT Berlin frequently ranks at the top of worldwide MBA rankings. The institution provides open enrollment and specialised executive education programs in addition to an MBA and an Executive MBA program.
MBA program tuition ranges from 38,300 to 43,500 euros per year.
3. The Netherlands’ Erasmus University in Rotterdam
The Erasmus University helped a Dutch university join the elite group of business schools in Europe. The Personal Leadership Development Program and the Living Learning Environments of Erasmus University are among the university’s most prominent features (PLD).
MBA programs cost between 28,900 and 52,000 euros per year in tuition.
4. Spain’s IE Business Schools
Another prestigious Spanish business school that frequently ranks in the Top 20 in global MBA rankings is IE Business School. A global online MBA is available in addition to the traditional MBA courses, and the MBA programs are in English and Spanish.
It uses a virtual campus with real-time interactive films, asynchronous online sessions, and integration days on campus.
The tuition fee for the MBA program ranges from 51,200 to 120,810 euros per year.
5. France’s INSEAD Business School
The dual-campus structure of INSEAD is one of its distinguishing qualities. The European site is in Fontainebleau, France, and a full-time MBA program is concurrently offered at a second campus in Singapore.
Students from various backgrounds attend both campuses, creating a vibrant multicultural environment. Students can select from more than 70 elective courses to best support their particular goals for the accelerated 10-month MBA program.
The MBA program tuition ranges from 87,000 to 111,940 euros per year.
6. Italy’s Bocconi University
It has a long tradition of offering top-notch study programs in business, finance, and economics at Bocconi University in Milan, Italy. Most programs are taught in English and offer hands-on training and internship possibilities. Students have the opportunity to participate in foreign exchange programs all over the world with different corporations and institutions.
The MBA programs cost between 59,000 and 89,425 euros per year as tuition fees.
7. London Business School
London Business School is one of the most prestigious business schools in the world, located in the heart of London, UK. It offers a variety of programs, including a full-time MBA, Executive MBA, and Masters in Finance, among others.
The full-time MBA program is highly competitive, with an acceptance rate of around 25%. It is a 21-month program that emphasises global business issues and leadership development, and is taught by world-class faculty with extensive industry experience. The curriculum includes core courses in finance, accounting, strategy, and leadership, as well as a wide range of elective courses that allow students to tailor their education to their specific interests and career goals.
London Business School has a diverse student body, with students from over 130 countries, creating a dynamic and multicultural learning environment. The school also offers a range of extracurricular activities, including clubs, speaker events, and social events, that provide students with opportunities to network and develop their skills.
Tuition fees for the full-time MBA program are around £110,000 for the entire program, with additional costs for living expenses and other fees. However, the school offers a range of scholarships and financial aid options to help offset the cost of tuition for eligible students.
Enrolling in an International MBA degree program can offer you many advantages, such as greater opportunities for professional networking and the chance to interact and connect with intelligent individuals from all around the world.
To make an informed decision about what is ideal for you, it is important to carefully analyse both the cost of the program and what you hope to gain from pursuing an MBA. By taking a comprehensive look at these factors, you can determine whether an International MBA is the right choice for you and your professional goals.