In 2025, tuition fee hikes across MBA programs in the UK ranged from 0.7% to 8%, with some schools such as Cranfield (-8%), Bayes (-4%), and Durham (-1.9%) pursuing cost reductions.
A resilient labor market, reduced energy costs, cost restructuring at the institutional level, and a slow but steady recovery in consumer spending have afforded the gamble for UK-based Business Schools.
In this analysis of the Top 10 UK MBA Programs for 2025-26, we cover:
1. Inflation vs GDP Growth Rate (2001 to 2025) vs Job Openings (UK Economy)
2. Cost of an MBA vs. the Increase in Salary
3. Which Top UK School experienced the most increase in costs?
4. What budget should candidates allocate for LBS, Oxford, and Cambridge MBA?
5. Post-MBA Salary (2024 vs. 2025)
6. Top UK MBA – Salary vs. Cost
7. Top 10 UK MBA - Living Cost Ranking (2025)
8. Strategy to negotiate high Cost
Inflation vs GDP Growth Rate (2001 to 2025) vs. Job Openings (UK Economy)
Since inflation has consistently remained above the Bank of England's 2% target, while GDP growth has remained uneven ever since 2020, with last year’s growth rate hitting a new low, cost continues to be a concern that has impacted the MBA market as well.
GDP Growth Rate – 2001 to 2025 (UK Economy)
| Year | GDP Growth Rate | Year | GDP Growth Rate |
| 2001 | 2.54% | 2011 | 1.45% |
| 2002 | 2.45% | 2012 | 1.48% |
| 2003 | 3.32% | 2013 | 2.05% |
| 2004 | 2.36% | 2014 | 3.05% |
| 2005 | 3.09% | 2015 | 2.34% |
| 2006 | 2.45% | 2016 | 1.79% |
| 2007 | 2.35% | 2017 | 1.70% |
| 2008 | -0.47% | 2018 | 1.30% |
| 2009 | -4.18% | 2019 | 1.40% |
| 2010 | 1.69% | 2020 | -9.90% |
| 2021 | 7.5% | 2022 | 4.2% |
| 2023 | 5.1% | 2024 | 1.1% |
The number of job openings has declined, but not to levels that signal a downturn.
Wages are expected to rise from 4.0% to 5.0% per annum in 2025 as employers and government sectors adjust for increased living costs.
Cost of an MBA vs. the Increase in Salary
UK business schools continue to adjust pricing carefully to maintain their appeal to international students.
In 2025, increases in total MBA costs remained controlled, with only Oxford (+8%) and Imperial (+3.5%) increasing their tuition fee. Most programs in the top 10 rankings either held steady or reduced costs to retain accessibility.
Which Top UK School experienced the most increase in costs?
Oxford saw the highest increase in costs among the top schools, with an 8% hike, followed by Imperial with 3.5%.
On the other hand, Cranfield, Lancaster, and Bayes posted cost cuts in the range of -3% and -8%.
What budget should candidates allocate for LBS, Oxford, and Cambridge MBA?
For the 2025 class, LBS ($226,810), Oxford ($163,114), and Cambridge ($134,248) remain the costliest UK MBA programs.
Students should plan for an annual cost of living budget between $25,000 and $29,000.
Post-MBA Salary (2025 vs. 2024)
LBS continues to lead with a 7.5% increase in total salary from $152,525 in 2024 to $163,883 in 2025.
Cambridge Judge saw a 15% decline from $157,355 to $134,106.
Oxford’s post-MBA salary dropped significantly from $128,075 to $106,816.
Alliance Manchester and Bayes salaries remain the same as last year due to the absence of updated employment reports.
Top UK MBA – Salary vs. Cost
Highest Salary in the UK
London Business School stood at the first position among all the Top UK MBA programs with a $163,883 average total salary.
2nd Highest Salary in the UK
Cambridge Judge School of Business is at #2 with a salary of $134,106- $50,000 behind the average T10 US MBA.
Highest Total Cost for a UK-based MBA Program
As the only two-year MBA program in the Top 10 UK MBA list, LBS has the highest total cost of $226,810.
Highest Tuition Fees for a UK-based MBA Program
The Oxford MBA program has the highest tuition fee of $127,933 among all the Top 10 UK MBA programs, whereas Cambridge MBA has the second highest tuition fee of $106,610.
With $47,946 in tuition fees, Lancaster University Management School offers the most affordable MBA program.
Top 10 UK MBA - Living Cost Ranking (2025)
Oxford Said Business School reported the highest percentage increase in total cost among the top 10 UK MBA programs, at 8%, bringing its total cost to $163,114, up from approximately $151,260 in 2024.
Imperial College Business School followed with a 3.5% increase, reaching a total cost of $146,928.
Alliance Manchester Business School saw a marginal rise of 0.7%, and Cambridge Judge Business School maintained its total cost at $134,248, indicating no increase from the previous year.
In contrast, several schools reported a decline in total costs.
Cranfield School of Management - Largest Decrease in Cost
Cranfield School of Management recorded the largest decrease at -8%, followed by Bayes Business School (-4%), Lancaster University (-3%), and Durham University (-1.9%).
Even LBS MBA - The most Expensive Program also experienced a 1% decline in total cost
London Business School, despite being the most expensive program at $226,810, also saw a small decline of -1% in total cost.
Among all programs, seven out of ten UK MBA programs in the list remain under the $150,000 mark, with schools like Lancaster ($65,234) and Cranfield ($81,970) offering some of the lowest total costs. These figures suggest that while top-tier UK programs such as LBS, Oxford, and Imperial continue to price at a premium level, the majority of UK MBA programs have maintained cost stability or reduced costs in 2025.
While leading UK MBA programs—such as Oxford and Imperial—have shown only moderate increases (8% and 3.5%, respectively), and several others have reduced or maintained their total costs, top US MBA programs have exhibited broader and more consistent cost escalations.
For instance, Haas (+14.3%), Kelley (+36%), and Foster (+22.5%) reported some of the highest increases in total cost among US schools.
Seven out of ten UK MBA programs remain under the $150,000 threshold, while none of the top 20 US MBA programs fall below $160,000 in total cost for 2025.
| Rank | Business School Name | Cost of Living USD PPP: (2025) | Tuition Fees USD 2024 [PPP for Int'l] (2025) | Total Cost of MBA in USD (2025) | % Increase/Decrease in Total Cost (2025) |
| 1 | London Business School (2 years) | $54,000 | £119,950 ($172,810) | $226,810 | -1% |
| 2 | Alliance Manchester Business School | £24,000 ($34,576) | £49,000 ($70,593) | $105,169 | .7% |
| 3 | Oxford Said Business School | £24,420 ($35,181) | £88,800 ($127,933) | $163,114 | 8% |
| 4 | Imperial College Business School | £22,044 ($31,758) | £73,000 ($105,170) | $146,928 | 3.5% |
| 5 | Cambridge Judge School of Business (Average) | £19,020 ($27,401) | £74,000 ($106,610) | $134,248 | 0 |
| 6 | *Bayes Business School (formerly Cass) | £19,800 ($28,525) | £50,400 ($72,610) | $101,135 | -4% |
| 7 | Durham University Business School | £18,500 ($26,652) | £40,000 ($57,627) | $84,279 | -1.9% |
| 8 | *University of Strathclyde Business School | £20,500 ($29,534) | £38,950 ($56,114) | $85,648 | 5% |
| 9 | Cranfield School of Management | £12,000 ($17,288) | £44,897 ($64,682) | $81,970 | -8% |
| 10 | *Lancaster University Management School | £12,000 ($17,288) | £33,280 ($47,946) | $65,234 | -3% |
Strategy to Negotiate High Cost
In 2025, London Business School remains the most expensive UK MBA at $226,810, with a total salary of $163,883. While this marks a salary increase from $152,525 in 2024, the cost has slightly decreased.
LBS has 51 scholarship and fellowship options, with 6 new ones added this year that benefit students from Israel, Greece, and Cyprus, Women candidates, and students in the sustainability sector. There are also 34 external and 15 loan options, as shown in F1GMAT’s Research on LBS MBA Cost and Funding Options.
Cambridge Judge remains one of the strongest performers, showing a nearly equal total cost ($134,248) and salary ($134,106), though both figures are slightly lower than last year.
Cranfield continues to offer a strong return with a lower cost of $81,970 and an improved salary of $117,878, compared to $124,086 last year on a higher cost.
Oxford Said’s total cost has increased to $163,114, while its salary has dropped significantly from $128,075 to $106,816, weakening its ROI position.
Imperial also saw a salary drop to $91,287 from $105,090 despite an increase in cost to $146,928.
Among lower-cost programs, Durham and Strathclyde remain under $90,000, but both show lower salary outcomes below $91,000, with Strathclyde declining from $106,608 to $90,763.
Lancaster, though affordable at $65,234, reports a salary of $115,255, up from last year.
Programs like Bayes and Alliance Manchester are excluded from the core ranking due to a lack of updated employment data, but FT figures suggest both remain competitive in salary terms—$137,128 and $140,238, respectively—against modest total costs.
Top 10 MBA UK: Total Salary and Total Cost (2025)
| Rank | Business School Name | Total Cost of MBA in USD (2025) | Total Salary (2025) |
| 1 | London Business School (2 years) | $226,810 | $163,883 |
| 2 | Cambridge Judge School of Business (Average) | $134,248 | $134,106 |
| 3 | Cranfield School of Management | $81,970 | £81,821 ($117,878) |
| 4 | Oxford Said Business School | $163,114 | $106,816 |
| 5 | Imperial College Business School | $146,928 | £63,364 ($91,287) |
| 6 | Durham University Business School | $84,279 | £60,022 ($90,795) |
| NA | Alliance Manchester Business School | $105,169 | $140,238 |
| NA | *Bayes Business School (formerly Cass) | $101,135 | $137,128 |
| NA | *Lancaster University Management School | $65,234 | £80,000 ($115,255) |
| NA | *University of Strathclyde Business School | $85,648 | £63,000 ($90,763) |
*NA: Employment Report not disclosed
