According to the latest top MBA salary and job trends report, international study experience is sought by 67 percent of MBA employers, and recruiters say that candidates with international experience outperform those without.
If you’ve applied to the MBA program at London Business School or have that school on your radar for the future, you’ll want to check out this informative cost-of-living post recently published on the LBS Admissions Office Blog by financial aid officer, Kathleen Bell.
Just about everyone knows that life across the pond is expensive. London Business School is a significant investment in your future, writes Bell, though the cost of living varies from person to person depending on the choices they make.
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“But, we can provide you with a rough guide to understanding the cost,” Bell assures. “We’ve surveyed our student population to find out what their monthly expenses are including renting their flat, utility bills, transportation, and socialising.”
In addition to £70,800 in tuition and course materials, here are some of the key points to consider/expenses to plan for:
- Average monthly expenditure for MBA students: £2,395 ($3,433.20)
- Average rent per month: £1,273.92 ($1,826.23)
- Socializing expenses per month: £452.53 ($648.72)
- 47 percent of renters live with another person; 17 percent live with two other people
Flat sharing is a great alternative for many students, says Bell, including Arly, a 2015 MBA grad. “He thought it was important to live close to the School and rented a flat with two other students.(…) By flat sharing, it allowed Arly to keep his cost down, which then provided the opportunity to attend more cultural treks,” Bell explains.
A majority of students choose to live close to campus, where rents ten to run higher. But, according to LBS, a number of students wish they had known how easy it was to commute to the school from anywhere across London. Living a bit further out would have reduced that significant expense.
LBS has a close-knit MBA program set in one of the most exciting cultural centers in Europe. If this is the business school for you, do your research early on to figure out the many options available to help finance your studies.