Brexit has changed the landscape for international graduates in the UK. From changes in visa and immigration policies, to the economic impact on job prospects, international students graduating from UK schools face new challenges. In this article, we explore the post-Brexit opportunities for international graduates.
Brexit has raised concerns for internationals considering an MBA in the UK about its impact on career development and opportunities.
The effect of Brexit on factors such as employment prospects, tuition fees, immigration policies, and visas is a cause for concern. Understanding these changes is essential for MBA applicants to make informed decisions regarding their future in the UK.
However, Christian Dummett, Executive Director of the London Business School (LBS) Career Center, is optimistic about international students’ post-graduation prospects in the UK.
We analyze Brexit’s impact on international graduates in the UK, weighing its pros and cons. Starting with some new challenges that international students in the UK face in this post-Brexit era.
Brexit has resulted in the loss of particular European Union (EU) membership privileges. Exemption from work visa requirements for EU citizens is one of those privileges. International graduates from the EU now face the additional requirement of obtaining a work visa to work in the UK.
Obtaining a work visa after graduation is daunting for some, with additional costs and eligibility criteria to meet. Requisites include proof of English proficiency and sufficient funds for UK living expenses.
However, Brexit has leveled up the playing field for non-EU students, who now face the same requisites and conditions as EU citizens.
Before Brexit, students from the EU were charged the same tuition fees as UK students. Brexit reclassified EU students as international students, resulting in equal tuition fees with other non-UK students. London Business School is an exception to this trend and charges the same tuition to all students regardless of their nationality.
The exact amount of tuition fees varies depending on the university and course, but in general, international students pay significantly more than UK students.
To help offset these higher tuition fees, numerous universities offer scholarships and other types of financial aid. Additionally, a scholarship from the UK government can cover course fees and living costs when studying in the UK.
Although the effects of Brexit on the job market are yet to be fully realized, some employers in the UK may be more hesitant to hire international workers. Due in part to the added administrative efforts and uncertainty surrounding new visa requirements.
Jonathan Portes and John Springford studied the post-Brexit UK labor market. They found the new immigration system caused labor shortages in key sectors due to 460k fewer EU workers. There was an increase of 130k non-EU workers, but the net loss was approximately 330k workers.
However, according to Christian the post-Brexit job market hasn’t changed much for international students graduating from LBS. He tells us, “We’ve always been a magnet for international students, both from the EU and beyond. There’s always a market for talent, amongst ‘blue chip’ companies and others. I would say that actually COVID has had more of an impact than Brexit, and even then, we have exceeded our own expectations by adapting to the changing market.” (01:48)
Despite the aforementioned challenges, there are also new opportunities for international graduates in post-Brexit UK. For example, certain sectors – such as technology or healthcare – have an increased demand for international talent, as companies seek to bring new perspectives and diversify their workforce.
From Christian Dummett’s experience, London, in particular, is a great place for international students. “I would also say that London has always been, and always will be, a multidisciplinary professional hub and a real magnet for human capital,” he says. “That really means that the UK will always be a number one choice destination. In fact, I don’t know if you are aware of this, but the World Economic Forum produces research around the magnetism of global cities, and London has for the last 10 years remained the number one city for professionals to work.” (03:55)
He adds, “There’s a real willingness from companies to recruit diverse, multicultural talents, and we’re a natural source of talent in this regard.” (08:16)
After Brexit, the UK government introduced the two-year graduate visa. This allows international students who have successfully completed a course in the UK in summer 2021 and onwards, the right to stay in the UK for at least two years (three for to PhD students).
“Visa regulations for the last couple of years have actually been positive for us,” says Christian. “The government introduced the two-year graduate visa, for professional students coming out of university, including our own. And indeed, you can see that reflected somewhat in the fact that 63% of our graduating MBA class stayed in the UK, which is significantly higher than it has been in the past. Typically, we were closer to 50%.” (07:42)
The two-year visa aims to increase employment opportunities for international graduates in the UK and retain talent. It showed the UK government’s commitment to welcoming international students and helping them boost their career prospects post-Brexit.
For international graduates, it will become easier to finalize the process to obtain a skilled worker visa. The UK government has made changes to its immigration system to make it easier for employers to sponsor workers from overseas. These changes include the removal of certain tests and quotas and improvements to the application process. A survey by the UK government shows that 92% of applicants choose the UK for opportunities for career progression.
The government plans to make further changes to the sponsorship system in 2023 to speed up the process, including a focus on sponsor compliance, faster processing times, and IT transformation. These changes are intended to make the sponsorship system more efficient and user-friendly for employers and applicants.
Brexit eliminated privileges for EU students in the UK, but the changes leveled the playing field for non-EU students.
As Christian Dummett from LBS puts it, “In some respects, Brexit actually improved the prospects for international students […] Now everybody comes in as an equal.” (03:17)
So while EU students can still study in the UK, they are now subject to different tuition fees and visa requirements than before. Non-EU students, on the other hand, have not been significantly affected by the changes resulting from Brexit.
There’s no denying that Brexit has shifted the landscape for international and EU students wanting to study in the UK. However, despite EU students losing some privileges, international students still benefit from attending UK business schools post-Brexit.
After all, the UK is home to some of the best universities in the world. The UK is also a magnet for many companies that depend on top universities’ talent.
The UK offers a combination of high-quality education and diverse cultural experiences like no other. Hence, for international students who aim to study and work in the UK, it is a desirable and valuable place to consider.
Do you want to know what it’s like to study in the UK? Check out our UK Ambassadors who study in the UK, and ask them about their experiences.
