Top MBA Industries - UK (2018) | F1GMAT MBA Admissions Consulting, Essay Editing and Interview Prep

While writing the book: MBA in the UK, we found out an interesting trend – industries that were promising in the UK doesn’t always translate to interest for MBA candidates. Peer pressure and the lure of compensation from the Consulting and Technology sectors are bigger influencers than the promise of a rising industry or an industry that is undergoing metamorphosis.

The only exception was in FinTech.

Download F1GMAT’s MBA in the UK and read our analysis of Finance, Management Consulting (MC), Technology, Healthcare, Energy, Automobile, Aerospace, Retail/Luxury and Manufacturing industries.

FinTech

Traditional roles in Finance – investment banking and investment management has been on a decline after a resurrection in 2013. This has partly to do with the loss of trust among consumers with traditional banks following the disastrous 2008-09 period, but more to do with the changing demographics of the workforce. Millennials value meaningful work over long monotonous work that traditional banks demand.

The big banks were comfortably maximizing their monopolistic position without any innovation in their services (the last major innovation was in Credit Card payments and RTGS payment settlements – six and two decades ago respectively).

FinTech companies emerged from the market complacency and replaced the core settlement services and provided an alternative store of value in the form of digital wallets and cryptocurrency. They lured fresh MBAs with one of the highest mean base salary (£84,472 mean base salary). Suddenly, MBA candidates realized that they could fulfill the intellectual challenge of the technological roadblocks, the regulatory changes and the marketing message that are essential for converting a niche sub-sector to a mass industry without compromising their work-life balance.

Read the latest FinTech trends in Top MBA Programs (UK)

Technology

UK-based AI companies have a history of big exits. Notable among them was Deep Mind, that was acquired in 2014 by Google for $500m. Most recently, Magic Pony and SwiftKey were acquired by Twitter and Microsoft for $150m and $250m respectively.
Despite big exits, from 2010-2016, United States attracted total investments of $4833m whereas the United Kingdom was at third behind China ($401m) with $294m. Although VC funding is not the only criteria to measure the progress of AI in the UK, the recent brain drain from Universities (Cambridge, Sheffield, and Imperial) to US private enterprises (Uber, Amazon, and Google) is an indication of US Tech firm’s ambitions.

Despite the challenges, UK’s strength as the #1 country for technological readiness, the mean base salary of $120,000 in top MBA programs, and the potential of AI and FinTech, have led to a massive brain drain from the dying industries to Technology (20% of the MBA class chose the Technology industry).

Read the latest Technology trends in Top MBA Programs (UK)

Finance

Following the Brexit Referendum in 2016 June, 8.1 billion and 2 billion worth of Equity and Property funds were withdrawn from the UK, bringing in a new challenge to Asset Managers. The MiFID II, the European policy on fee disclosure mandates that cost and charges should be tabulated as a single total charge.

FCA's (UK's financial regulatory body) scathing observation on the Asset Management industry, particularly on the lack of enthusiasm among Fund Managers to negotiate the cost for retail funds in addition to the study that fees and performance has a limited correlation, adds to the mistrust towards Asset Management Companies.

Unlike developing countries, UK’s Asset Management industry is responsible for over £1 trillion of UK’s retail investments and £3 trillion in pension funds, taking the total assets managed to over £7 trillion. Under such high exposure for UK citizens, the influence of regulatory body on the future performance is profound. For EU investors, who account for over half of the £2.6 trillion overseas funds managed by UK fund managers, the fine prints of Brexit would have a direct impact.

Read the complete analysis of UK’s Finance industry and its impact on Post-MBA offers in our book: MBA in the UK

Management Consulting

Management Consulting in the UK has an interesting mix of services with Technology taking the largest chunk of the service - 28%, followed by Finance (15%) and Operations (13%) at third. Strategy - the favorite for MBA candidates, is fourth, tied at 10% with change management.

As of 2018, the skills demanded of consultants entering the UK market favors data scientists, process specialists, and technologist who understands banking technology architectures. MBAs with experience in designing user experience similar to contactless and mobile payment apps are two niches that received the most offers.

Finance and Risks have evolved from complying with regulatory guidelines to cybersecurity as more customers prefer payment through mobile, introducing a wide set of scenarios that would breach their privacy and jeopardize secure payment.

Read our analysis of the Management Consulting industry in the UK. Also, find out the compensation the industry has to offer for

Top MBA Industries in the UK (2018)

Winning MBA Essay Guide - A Complete Guide for M7 and Top 15 MBA Application Essays

F1GMAT's Winning MBA Essay guide will teach you how to transform your essay into a life journey with trials and tribulations that will move the admission team.

+ Over 245 Sample Essays (Read Previews of F1GMAT's Winning MBA Essay Guide Sample Essays here)

+ Top 15 MBA Programs (Harvard, Stanford, Wharton, Columbia, Booth, MIT, Kellogg, Yale, Haas, Darden, INSEAD, LBS, NYU Stern, Tuck, Duke Fuqua, Ross)

+ The Art of Storytelling
+ Leadership Narratives
+ Review Tips
+ Persuasion Strategies
+ The Secret to "unleashing" your unique voice
+ How to prepare and present for the Video Essay
+ How to write about your Strengths
+ How to write about your Weaknesses

Download Winning MBA Essay Guide (245+ Sample Essays) (M7 and T16 MBA)

Want to try the individual school Essay Guides before upgrading to the Winning MBA Essay Guide? Try below.

F1GMAT's Essay Guides

Harvard MBA Essay Guide (20 Sample Essays)
Growth-Oriented Essay: Curiosity can be seen in many ways. Please share an example of how you have demonstrated curiosity and how that has influenced your growth. (up to 250 words)
Example #1: Persistence Narrative
Background Information: The applicant – a design and music talent, shares her journey through several setbacks. She attributes curiosity to her growth.
Curiosity: Philosophy
Curiosity (Explained): Curiosity as a philosophy is tough to translate into a narrative unless you are from the creative industry or your contributions had an influence on a solution or an initiative.
MBA Essay Strategy: I wanted to capture the humanity of the applicant and her influence in music instead of just highlighting how she overcame multiple roadblocks to gain attention as a designer.
Theme: Persistence
Read: Harvard MBA Curiosity Essay – Life Starts at NO (Growth-Oriented HBS MBA Essay Example)
Example #2: International Community Building
Background Information: The applicant, a Machine Learning (ML) entrepreneur specializing in healthcare diagnostics, shares how his curiosity to learn other ML algorithms’ evolution in diagnosing Alzheimer’s, cancer, and heart disease transformed his platform into a global community.
MBA Essay Strategy: I wanted to show the applicant’s contributions in diagnostic from 2020 to 2024 by citing two events. Such examples build credibility instead of engagements that were recent. The evolution of the platform from an AI development community to a community for discussing the application of AI in diagnostics is captured through a ‘curiosity’ angle.
Read: Harvard MBA Curiosity Essay – Growth through Collaboration (AI in Healthcare) (Growth-Oriented HBS MBA Essay Example)
Example #3: Culture
Background Information: The applicant, an Entrepreneur from India narrates his first entrepreneurial experience – facilitating exchange of stamps in the late 1990s.
Theme: Culture
MBA Essay Strategy: Instead of addressing the biases in the investor community that could turn preachy, I wanted to focus on the applicant and his entrepreneurial journey by citing two entrepreneurial experiences – a platform(club) for stamp collection and his Grocery delivery App.
Read: Harvard MBA Curiosity Essay – The American Dream (Growth-Oriented HBS MBA Essay Example)
Example #4: Addiction
Background Information: The applicant – a beneficiary of the foster home system, captures the sacrifice his adopted grandparents made to save him from a path of addiction. Paying it back through early intervention among teenagers and community engagement is the curiosity narrative.
Theme: Addiction
MBA Essay Strategy: My strategy is to capture a gratitude narrative in the first one-third of the essay to demonstrate motivation for starting the venture and dedicate the latter part of the essay to the unique solution
Read: Harvard MBA Curiosity Essay – Drug Addiction and Gaming (Growth-Oriented HBS MBA Essay Example)
Example #5: Scarcity
Background Information: The applicant, an education major, recognizes that 70% of all students in Kenya don’t have a computer. The curiosity that drives him to pivot from one solution to another is the growth narrative.
Theme: Innovation
MBA Essay Strategy: Often, innovation is captured with a ‘hero’ narrative where the applicant is the sole originator of an idea. I wanted to break that cliché and include a person from whom the applicant learned to use a concept called ‘scaffolding.’
Read: Harvard MBA Curiosity Essay – Scarcity (Growth-Oriented HBS Essay Example)
Example #6: FinTech
Background Information: The applicant captures a vulnerable moment of a beneficiary to compare his journey of side hustle before a technology giant noticed his talent. Although cryptocurrency is not a flavor for the year, capture niches where innovation is still happening.
Theme: Education, Child Welfare
MBA Essay Strategy: Empathizing with a techno solution is tough without a strong backstory around the beneficiary. For the essay, I wanted to clearly establish the beneficiary – Rami, before the applicant narrates the similarities to his journey and finally shares the solution that emerged from his curiosity.
Read: Harvard MBA Curiosity Essay – FinTech as a Tool for Good (Growth-Oriented HBS MBA Essay Example)
Example #7: Learning from the best
Background Information: The applicant – a Remote Engineer in the Oil and Gas industry, reflects on a value that has helped her learn from the best regardless of her geographical limitations.
Theme: Learning
MBA Essay Strategy: The effectiveness of the case-study method depends on the assumption that peers in a Harvard MBA class will help elevate your learning experience. For the essay, I have highlighted the applicant’s recognition of this value proposition with three examples.
Read: Harvard MBA Curiosity Essay – Learning from the Best (Growth-Oriented HBS MBA Essay Example)
Example #8: Military & Search for IMPACT
Background Information: The most common narrative for US military applicants is to quote 9/11 and the reaction your immediate family had while watching the events unfold. The horrifying moment is captured as a motivation to join the Military. On digging deeper, most applicants would share that their motivations were diverse.
Theme: Career Choice
MBA Essay Strategy: I wanted to quickly highlight that the applicant had the choice of entering any industry. One achievement to demonstrate his curiosity that I shared in the first half is the invention of a game. Since the game is mentioned in the resume and verifiable through search, I didn’t quote the name. By clearly highlighting the person’s curiosity and career options, the family legacy is used as a factor in joining the military.
Read: Harvard MBA Curiosity Essay – Career Choice after a Military Career (Growth-Oriented HBS MBA Essay Example)

Leadership-Focused Essay: What experiences have shaped who you are, how you invest in others, and what kind of leader you want to become? (up to 250 words)
Example #9: Small Business Values
Background Information: The applicant - a second-generation Asian American, is familiar with the values of fiscal conservatism, building relationships, and understanding the daily struggles of the community through his family’s department store.
Theme: Customer-Centric
MBA Essay Strategy: The applicant’s role in developing an App for the store is highlighted in the essay at a crucial part of the narrative so that the essay is not all about his father. I have also humanized the journey – by sharing how upset the father was when the revenues fell by 40%. The essay is about the transformation in the applicant’s value from a person chasing productivity and optimization technique to someone who is truly thinking about the customers.
Read: Harvard MBA Leadership Essay – Small Business Values (Leadership-Focused HBS MBA Essay Example)
Example #10: Breaking Away from Family Business
Background Information: A unique challenge that applicants whose parents are public figures or CXOs of businesses or entrepreneurs are the pressure to live up to the parent’s standards or milestones. For the leadership narrative, the burden of legacy is established before the narrative addresses his leadership principles.
Theme: Authenticity
MBA Essay Strategy: For the essay, I want to capture an entrepreneur’s journey to rise above his entrepreneur father’s image. But I didn’t want to make the entire essay about this complex dynamics. The narrative is around the applicant’s focus on customers and surrounding with teams who keeps him grounded.
Read: Harvard MBA Leadership Essay – Breaking Away from Family Business(Leadership-Focused HBS MBA Essay Example)
Example #11: Creativity and Communication
Background Information: When the overall percentage of users with internet access is 62% in South Africa and the inequality accentuated by the rural and urban divide, the applicant endured the lack of digital infrastructure, and spending close to 22% of the family income on gaining relevant information on schools, global exams, and financial assistance.
Theme: Creativity, Communication
MBA Essay Strategy: The strategy is to share why the applicant values no distraction in a child’s home for optimum education experience. Then I highlight the many roadblocks the applicant’s non-profit faced in receiving fee waiver for their cooperative run ISP.
Read: Harvard MBA Leadership Essay – Non-Profit (Telecom) (Leadership-Focused HBS MBA Essay Example)
Example #12: Mental Health
Background Information: The applicant like most didn’t pay much attention to the mental health epidemic until tragedy hit home.
Theme: Communication, Innovation
MBA Essay Strategy: A question we frequently get from applicants is whether they should cite tragedy in the family as a motivation for a venture or a non-profit initiative. As long as you don’t linger too much on the tragedy and offer a balanced narrative, there are no restrictions on leveraging unique stories from your life.
Read: Harvard MBA Leadership Essay – Mental Health (Leadership-Focused HBS MBA Essay Example)
Example #13: Trauma, Healing & Finding Authentic Self
Background Information: The applicant narrates the absurdity of war in the narrative about the duties in Kabul, and the trauma. Instead of wallowing in on the horror, the applicant takes what makes military applicants strong and guides unprivileged children build life and leadership skills.
Theme: Resilience
MBA Essay Strategy: Capturing PTSD in an essay, the healing process, and the cues that helped the applicant are too sacred to be shared in a Harvard MBA application essay. However, with the right motivation and narrative arcs, you can capture the essence of your journey without sharing the darkest secrets. That is what I did by merging two stories – the horrors of the war with a non-profit engagement.
Read: Harvard MBA Leadership Essay – Military & PTSD (Leadership-Focused HBS MBA Essay Example)
Example #14: Addiction, Setback and Leadership Mantra
Background Information: In this narrative, the applicant captures Peru’s Silver mining boom of 2006. The growth experienced in her father’s business shifted the family’s economic status to a new stratosphere. Through the changing economic and family dynamics, the applicant finds her voice in a unique way, initially to record her unheard voice but later as one of the youngest subject matter experts in mining and commodities.
Theme: Failure
MBA Essay Strategy: For the essay, the strategy is to show how life’s unpredictability is a blessing. By narrating two setback events, the essay demonstrates the applicant’s resilience and her acknowledgment of people who made a comeback possible.
Read: Harvard MBA Leadership Essay – Addiction, Setback and Leadership Mantra (Leadership-Focused HBS MBA Essay Example)
Example #15: War, Immigration and Starting Over Again
Background Information: Despite a raging war in Syria, the family of the applicant was unblemished by the chaos. The strategic government assets near the applicant’s house would have made the region an easy target, but it was not. The calmness of her journey is shattered in one event. From the privileges of a cocooned life, the applicant is forced to think about survival, her sister’s future, and her future in the US. The second half of the narrative captures the change that was forced on her.
Theme: Gratitude, Resilience
MBA Essay Strategy: I consciously chose not to start the essay with a dialogue or trauma. Two lines are allocated to set up the narrative before the trauma event.
Read: Harvard MBA Leadership Essay – War, Immigration and Starting Over Again (Leadership-Focused HBS MBA Essay Example)
Harvard MBA Business-Minded Essay: Please reflect on how your experiences have influenced your career choices and aspirations and the impact you will have on the businesses, organizations, and communities you plan to serve. (up to 300 words)
Example #16: Creative or Finance
Background Information: The applicant starts the narrative with the origin of her talents. The unbridled enthusiasm receives a reality check when in high school, the applicant’s father has a conversation with her about academics. While the applicant picked up her quant skills, she was reaching over 50,000 loyal fans, and her videos captured 1 million views.
Theme: Passion, Talent
MBA Essay Strategy: Capturing vulnerability is the toughest part for Harvard MBA applicants. For this essay example, I have captured the applicant’s uncertainty about career choice throughout the essay. Here the goal is to show vulnerability in the career choice essay while for leadership and growth essay, I could capture one example each from creative and PE industry respectively to balance the narrative. So don’t follow this example without a strategy.
Read: Harvard MBA Business-Minded Essay – Creative or Finance (Business-Minded HBS MBA Essay Example)
Stanford MBA Essay Guide (24 Sample Essays)
Columbia MBA Essay Guide (21 Sample Essays)
Wharton MBA Essay Guide (15 Sample Essays)
INSEAD MBA Essay Guide (19 Sample Essays)
Darden MBA Essay Guide (21 Sample Essays)
Yale SOM MBA Essay Guide (15 Sample Essays)
Tuck MBA Essay Guide (15 Sample Essays)
Haas MBA Essay Guide (18 Sample Essays)
NYU Stern MBA Essay Guide (15 Sample Essays + 6 Examples - Visual Essay)
LBS MBA Essay Guide (6 Sample Essays)
MIT Sloan MBA Essay Guide (6 Sample Cover Letters + 3 Sample Video Statement Scripts + 3 Sample Optional Essays)
Kellogg MBA Essay Guide (11 Sample Essays)
Chicago Booth MBA Essay Guide (12 Sample Essays)
Ross MBA Essay Guide (31 Sample Essays)
Duke Fuqua MBA Essay Guide (10 Sample Essays + Two 25 Random Things Samples)
Cambridge MBA Essay Guide (12 Sample Essays)