Unlocking MBA Funding: How London Business School Supports Your Financial Journey

Pursuing an MBA at a globally renowned leading institution like London Business School (LBS), in the UK, is a life-changing decision, that comes with significant financial investment. Ranked among the top business schools globally, LBS provides students with comprehensive support to secure funding and offers a strong return on investment (ROI) through exceptional career outcomes.

In this article, Lydia Wakefield-Yeung, Associate Director for External Partnerships and Scholarships at LBS, shares insights into how prospective students can navigate funding their MBA program or master’s degree.

Why Choose London Business School?

London Business School consistently ranks among the best business schools in the world. LBS is ranked #8 in the Financial Times Global MBA 2024 Ranking and is known for its strong global reputation and excellent graduate outcomes. The investment in an MBA program at LBS extends far beyond the classroom. Graduates often see significant long-term returns through career progression, leadership roles, and salary increases

90% of the 2023 MBA cohort accepted an employment offer within three months of graduating. Graduates often secure positions at top companies such as Amazon, Google, Nike, McKinsey & Company, Bain & Company, and Goldman Sachs, demonstrating the long-term value of an MBA from LBS.

Lydia stresses that an MBA degree from LBS “is not simply a stepping stone into your first post-MBA role, but a catapult for your future with lifelong benefits.” (10:15)

LBS’s high rankings and outstanding career support make it a top choice for students worldwide. The school’s MBA program offers a transformative educational experience, a robust alumni network, and industry connections that drive career success.

Early Financial Planning: The First Step to Success

One of the most important things prospective students must do when considering LBS is to plan their funding strategy early.

Lydia advises, “Prospective students should start thinking about funding for their MBA or master’s programs as soon as possible. This should be a real core part of your application preparation journey.” (00:16

Understanding the costs involved, such as tuition fees and living expenses, as well as considering the return on investment (ROI), allows students to approach the application process fully informed and prepared. LBS offers plenty of information online about options for funding your studies, including a funding search tool that enables students to search for scholarships and loan options based on their needs.

Exploring Funding Options at London Business School

MBA funding at London Business School gives students access to a wide range of funding options. Lydia notes, “There are many different funding options when you’re considering how you’re going to finance your MBA or your master’s program.” (00:48

These include government loans, private student loans, or bank loans. As interest rates can differ per loan, Lydia encourages students to check these in advance to ensure they are fully aware of any financial commitments. (01:10)

For international students, it’s also essential to ensure that loans meet visa requirements. Lydia highlights, “If you are an international student, for visa purposes, loans often need to be obtained through regulated student loan schemes, so really do your research.” (01:24)

There are also scholarships and grants available. In some cases, applicants are company-sponsored or partially self-funded. If applicants are self-funded, she encourages them to think about saving and budgeting well in advance. 

She also notes that it is not uncommon for prospective students to combine various funding options. She recommends, “Do consider all of the different options that are available instead of relying on one. And remember that it’s very common for students to combine different funding options to maximize their available funds for their degree program.” (03:38)

As Lydia explains, it is important to research your funding options in advance, be aware of tuition costs and expenses, and make a well-informed choice for the one that best suits your needs.

Scholarships and Grants: Financial Aid with Prestige

LBS offers a variety of scholarships; some are merit based scholarships, some are assessed on financial need, and some are awarded to students from specific backgrounds.

These scholarships cater to students from underrepresented backgrounds, specific industries, and various countries, broadening the accessibility of an LBS education. These scholarships are valuable from a financial standpoint and for enhancing professional recognition. 

Lydia notes, “Scholarships can be hugely valuable not only from a financial perspective but also adding prestige to your own recognition.” (01:41)

Some scholarships will automatically consider eligible candidates when they apply to LBS, so it is wise to submit the best application that you can to ensure you have the best chance of receiving a scholarship. Some scholarships may require additional applications. Lydia advises, “For some scholarships, you may be required to submit additional information or submit a separate application form.” (02:24

In addition to LBS scholarships, prospective students can look for external grants and funding through foundations, trusts, and government organizations. She highlights that it is always good to have a plan B for funding options. If your original funding option doesn’t work out, having a funding alternative helps avoid financial stress later on.

Navigating Company Sponsorship

Many LBS students also seek sponsorship from their employers. Lydia encourages students to build a strong business case for why their organization should support them. This includes thinking about which skills and competencies you will bring back to the team and the ROI for the company.

“If you are looking for company support, really consider in your business case what your value will be as a value-add back into your organization on completion of your degree program.” (03:26)

Showcasing the long-term benefits of your education to your employer can increase your chances of receiving company sponsorship.

Resources to Help You Plan for Success

LBS provides numerous resources to help students succeed both financially and professionally. Lydia recommends speaking to alumni for real-world insights into managing finances and maximizing return on investment.

She says, “Speak to current students and alumni; they are the individuals that have been there and done that before… they will be able to give you tips and tools on how to budget and prepare but also what that looks like in the long term.” (06:33)

In addition to this, Lydia reminds prospective students to take advantage of the admissions team during their admissions journey. She says, “They are there to help you. Have a conversation, explain your current circumstances, and they will be able to help and guide you towards different funding options, and what might be available for you.” (06:59)

Additionally, LBS runs regular events focused on the financial aid process, where prospective students can ask questions to staff, students, alumni, and the admissions team. These events help students understand the long-term financial planning necessary to thrive at LBS and beyond.

Final Thoughts: Crafting a Winning MBA Funding Strategy

Pursuing an MBA at London Business School is an investment with substantial financial and professional rewards. An MBA from LBS can significantly impact your career trajectory, from increased salaries to greater employment opportunities.

Prospective students can plan for their education by exploring various MBA funding options, from scholarships to loans and company sponsorships. By researching funding in advance and exploring various options, you can make a well-informed decision about which funding type is best for you. This will help you make the most out of your MBA journey at LBS.

With strong career outcomes, excellent networking opportunities, and the chance to develop invaluable skills and knowledge, an MBA from London Business School offers long-term benefits that make the financial investment worthwhile.

Learn more about London Business School (LBS), and connect with an LBS ambassador to hear more about their experiences navigating the MBA journey.