The Ultimate Guide To Masters In Business Analytics In The UK

Masters in Business Analytics are among the most popular and preferred courses for students interested in pursuing a career in Business Management. They say that "if you look like you are having fun, you are having fun," so who knows, you might just have the time of your life while studying for your Masters in Business Analytics in UK. Several universities in UK offer this program. Let us dive into the world of Masters in Business Analytics in UK!

What is Business Analytics?

Business analytics is a set of abilities that aid in analysing data to enhance new or current business concepts according to customer wants. The multidisciplinary courses that make up the Business Analytics Masters in UK will equip graduates with all the necessary abilities to work for any top data company. The UK has top-notch educational facilities with cutting-edge technologies and distinctive specialisations.

Why study Masters in Business Analytics in UK?

The UK is a fantastic choice to study business, and you are in for a great time while you are here. Masters in Business Analytics in UK is an advanced program in which students can explore the key aspects of business intelligence. You will learn to use computational data analytics and mining to extract value from business data. Studying for a Masters in Business Analytics in UK will also help improve your critical thinking and improve decision-making, which will help you gain a competitive edge over others! These are the reasons why you should study Masters in Business Analytics in UK!  

MS in Business Analytics in UK: An Overview

The UK is known worldwide for being the home to numerous prestigious and traditional institutions. Second, the demand for Business Analytics specialists is increasing daily while the supply is limited. This guarantees that there is employment available in UK for international students. A Masters degree increases your chances of finding a job by 60–70%. Additionally, students can gain worldwide exposure and experience while paying a cheap tuition fee for a Masters in Business Analytics in UK. Every year, there are three intakes in UK, allowing students to select a convenient time to start their studies.

Specialisations for Masters in Business Analytics in UK

Studying for Business Analytics Masters in UK means studying the course for around 1-2 years in a full-time course in the top universities for Business Analytics in UK! While studying Business Analytics, you can expect to study a few subjects: 

1. Data Analytics

This specialisation would cover statistical analysis and modelling, data mining, and data visualisation techniques. It would also cover data management and database design.

2. Foundation of Finance

This specialisation would cover financial management, investment, and financial statement analysis. It would also cover financial reporting and regulations.

3. Principles of Accounting

This specialisation would cover the basics of financial and managerial accounting. It would include balance sheets, income statements, and cash flow statements.

4. Innovation Management

This specialisation would cover the process of managing innovation in a business setting. It would include product development, market research, and intellectual property protection topics.

5. Machine Learning and Visualizations

This specialisation would cover machine learning principles, including supervised and unsupervised learning algorithms and data visualisation tools to communicate insights.

6. Risk Management

This specialisation would cover identifying, assessing, and managing risks in a business setting. It would include topics such as risk analysis, risk mitigation, and risk communication.

7. Business Process Management

This specialisation would cover business process analysis, design, implementation, and optimisation. It would include process modelling, workflow management, and process improvement techniques.

These specialisations are designed to give students a strong foundation in various Business Analytics aspects and prepare them for careers in data analysis, finance, accounting, innovation, machine learning, risk management, and business process management.

Cost of Studying Business Analytics Masters in UK

Two types of costs come with pursuing a Masters degree in Business Analytics in UK, tuition fees and cost of living. Let's understand them both one by one:

Tuition Fees

If you're applying to the top universities in UK to pursue your MSc in Business Analytics, the tuition fees will range between £25,750 and £35,900 a year.

What are the fees for MS in Business Analytics in UK?

If you choose to pursue a Masters in Business Analytics in UK, you can expect to spend anywhere between £21,900 and £37,300 a year if you are an international student. In contrast, you can expect to spend £8,800 per year as a domestic student!

Cost of Living

The cost of living in UK depends on the university you choose and your lifestyle. If you stay in an expensive area such as Winchester, the cost of living is higher. The average cost of living in UK is $1000- $1600 a month.

Top Scholarships for Masters in Business Analytics in UK

Each university you choose to study Masters in Business Analytics in UK will provide you with a scholarship, or you can even apply for external scholarships, like the Chevening Scholarship, Commonwealth Scholarship, or Postgraduate Tuition Fee Loans! These scholarships will cover a proportion of your tuition fees and will help you reach your dream of studying Business Analytics Masters in UK. Various scholarships are available for students pursuing a Masters in Business Analytics in UK. Here are some of the top scholarships:

1. Chevening Scholarships

These are prestigious scholarships offered by the UK government to outstanding students worldwide. The scholarship covers tuition, travel, and a monthly living allowance. Applications are accepted between August and November each year.

2. Commonwealth Scholarships

Students from Commonwealth nations who wish to pursue a Masters degree in UK are given these scholarships. The scholarship covers tuition, travel, and a monthly living allowance.

3. British Council Scholarships

The British Council offers these scholarships to students from select countries who wish to study in UK. The scholarship covers tuition fees and a living allowance.

4. Great Scholarships

The British Council offers these scholarships in collaboration with UK universities. The scholarship covers tuition fees for a one-year Masters degree.

5. University-specific Scholarships

Many UK universities offer scholarships specifically for Master in Business Analytics students. These scholarships are mostly based on academic merit and financial need. Some samples include the Imperial Business Analytics Scholarship at Imperial College Business School and the LSE Masters Awards at the London School of Economics.

It is important to research each scholarship's specific requirements and deadlines and apply well in advance. Additionally, many universities offer financial aid and other funding opportunities, so it is important to check with the individual university for additional options.

Eligibility Criteria & Admission Requirements

The admissions process and requirements for Masters in Business Analytics at UK universities are rigorous. Although this varies from university to university, the following general needs are covered:

1. Bachelor's Degree

To pursue a Masters in Business Analytics in UK, international candidates must have a first- or upper-second-class honours degree (2:1) in a quantitative discipline such as mathematics, statistics, physics, engineering, computing, economics, or management science. Ensure you received a 60–80% on your bachelor's degree, particularly in the abovementioned subjects.

2. English Language Requirements

To enrol in a Masters programme in Business Analytics in UK, international students must pass an English language proficiency test. The necessary score is:

• IELTS: 6.5 - 7.5

• TOEFL: 88 - 100

3. GRE/GMAT

Fe universities require GRE and GMAT scores for enrollment in Business Analytics Masters in UK. The tests' average results are as follows:

• GRE: 300+

• GMAT: 600+

4. Passport & Student Visa

All overseas students must have a UK student visa and a valid passport to enrol in any degree at any university in UK. Do not forget to apply for your visa at least three months before the anticipated departure date.

Top 5 Universities in UK for Masters in Business Analytics

Most UK universities have good MSc Business Analytics UK rankings, making them the ideal institutions for earning a Masters degree in the area. We've identified the finest universities in UK where you can study for an MS in Business Analytics to help you make the best choice:

1. Imperial College London

QS World Rankings 2023: 6

QS Rankings: Business Analytics 2022: 5

Average Tuition Fees: £34,300/year 

Program Offered: MSc Business Analytics

Regarding offering Business Analytics programmes, the Imperial College of London has a stellar reputation. The MSc Business Analytics programme at ICL ranked third in Europe, equips graduates for a future of evidence- and data-driven decision-making.

2. University of Manchester

QS World Rankings 2023: 28

QS Rankings Business Analytics 2022: 10

Average Tuition Fees: £27,500/year 

Programs Offered: MSc Business Analytics: Operational Research and Risk Analysis, MSc Business Analysis and Strategic Management

An intensive 12-month MSc Business Analytics programme is available at the University of Manchester. Risk analysis and operational research are the course's two main subjects. The course includes all the material you will need to deal with real-life situations after graduation, from fundamental ideas to analytics.

3. University of Warwick

QS World Rankings 2023: 64

QS Rankings: Business Analytics 2022: 12

Average Tuition Fees: £31,500/year 

Program Offered: MSc Business Analytics

The University of Warwick's Warwick Business School is well known for its business programmes, notably its Master of Business Analytics degree. Thanks to the curriculum, students can utilise theoretical and practical approaches to handling massive data sets to solve business problems.

4. University of Edinburgh

QS World Rankings 2023: 15

QS Rankings: Business Analytics 2022: 18

Average Tuition Fees: £27,500/year 

Program Offered: MSc Business Analytics

The University of Edinburgh's Business Analytics programme strongly emphasises aiding students to improve their decision-making abilities. The focus is on three areas: understanding varied business contexts, the significance and relevance of organisational decision-making difficulties, and methods for resolving them using useful strategies, making the University of Edinburgh one of the top universities for Business Analytics in UK.

5. University of Leeds

QS World Rankings 2023: 86

QS Rankings: Business Analytics 2022: 71-80

Average Tuition Fees: £25,750/year

Programs Offered: MSc Business Analytics and Decision Science

Leeds University offers the optimal academic excellence level needed for this course. A group of well-known academics and business professionals with extensive experience in the sector teach the students. This aids students in gaining more information to improve their theoretical and practical learning, which makes the University of Leeds one of the top universities in UK for Masters in Business Analytics.

Admission process for Masters in Business Analytics in UK

To apply for a Masters in Business Analytics in UK, each university will have its admission process, so it would be best if you checked out the university of your choice and looked up their admission process. As an international student, you best apply early for a good chance! Several top universities in UK for Masters in Business Analytics take GRE and GMAT scores into consideration as even relevant experience in the field. One thing to note is that the course is commonly offered in the fall and winter terms. 

Application tips for Masters in Business Analytics in UK

A few tips will help you secure admission to the best universities in UK for a Masters in Business Analytics! Here are a few college application tips!

1. Start early
2. Create A College List
3. Start the common application prompts
4. Prepare your resume
5. Build a LinkedIn profile
6. Apply for scholarships
7. Take a MOOC Test

Read our blog on college application preparation to learn more about these tips. There are also no worries if you have never written a resume before! Since we have a guide on how to write your first resume!

Career options after Masters in Business Analytics in UK

Many opportunities are available for a Business Analytics career in UK. After earning their Masters degrees, students typically land lucrative jobs in various UK data companies. The position can be found in any business or public industry, including entertainment, sports, education, banking, and management. Since there is a growing demand for Business Analytics professionals, graduates should be able to find employment within three months after earning their Masters degree. Jobs in Business Analytics are highly paid in UK. Graduating students earn more money due to their increased experience and talents. In the upcoming years, more career opportunities are anticipated as well.

With the ever-increasing demand for Business Analysts, MSc Business Analytics graduates have a range of job profiles and excellent salaries to look forward to. Here are the top job profiles to consider, along with the average pay scale you can expect:

1. Data Analyst: £39,534
2. Business Intelligence Analyst: £45,326
3. Data Scientist: £55,475
4. Business Analyst Manager: £78,761
5. Quantitative Analyst: £81,764

Pursuing a Business Analytics degree in UK has multiple benefits, such as employment in top companies nationwide, globally accepted degrees, high-quality research, etc. Now that you have all the basic information, it's time to make the right choice. In case you wish to receive expert assistance on the matter, consult Yocket counsellors today.

A Business Analyst position will be available upon completing a Masters in Business Analytics in UK. A starting salary of about £45,000 is typical. After 1-3 years of work experience, graduates can apply for level 1 Domain Business Analyst jobs. One can apply for a Senior Business Analyst or Chief Technology Officer position with five years of experience or more. Professionals can also change to more advantageous companies based on better payment possibilities. Other job profiles include the likes of Cyber Security Engineer, Credit Controller, Business Analyst, Risk Manager, Project Manager, and more!

A Masters in Business Analytics in UK can give students the skills and knowledge they need to succeed in data analytics. Whether you're looking to break into the field or advance your career, a Masters in Business Analytics in UK can open up a gateway of opportunities and set you on the path to success in the competitive business world. Also, check out this blog to know everything about masters in digital marketing and data science.