What Is the Lancaster University Management School (LUMS)?

Lancaster University Management School (LUMS) is the business school of Lancaster University in Lancaster, England. Established in 1964, it offers a wide range of subjects from undergraduate degrees to postgraduate degrees including MBAs, Ph.D.s, and post-experience executive education.

LUMS's MBA program has consistently been ranked highly along several dimensions, such as in corporate strategy and for providing the best value for the money in the world.

Key Takeaways

  • Lancaster University's Management School (LUMS) is a U.K.-based business school offering higher education programs at the undergraduate and graduate levels.
  • LUMS is often ranked among the best business schools in the U.K. 
  • LUMS is accredited by four bodies, including the AACSB, EQUIS, AMBA, and the Small Business Charter.

Understanding the Lancaster University Management School (LUMS)

Lancaster University Management School (LUMS) is one of the four faculties of Lancaster University and is situated on the university campus, south of the city of Lancaster. The campus consists of new buildings and facilities grouped together near the south end of the campus. The Hub area and atrium of the school is primarily a host to postgraduate studies. The Charles Carter Building provides additional teaching space as well as Ph.D. study facilities. It is home to several academic teaching departments.

LUMS is one of a small group of business schools in the world to have achieved quadruple accreditation by the leading international business school accreditation organizations, including AACSC, EQUIS, Association of MBAs, and Small Business Charter.

In 2005, LUMS partnered with Ernst & Young to offer undergraduate degrees in accounting and finance, in which students undertake two periods of paid work experience with Ernst & Young, in preparation for a Chartered Accountant career.

MBA Ranking

Lancaster University Management School was ranked 9th in the UK and 96th in the world by the Financial Times in its MBA rankings 2021.

Tuition and Fees

There are different fees based on whether a student is undergraduate or post-graduate, from the UK or from another nation, as well as what field they are studying.

For graduate students attending the business school who are either from the UK or from other nations around the world, the 2021-2022 tuition cost is £33,000, or roughly $45,344.

At the undergraduate level, the price varies depending on what country the student comes from. For full-time undergraduate students from the UK studying at Lancaster, the yearly tuition is £9,250, or roughly $12,710. For part-time students, the cost is £3,083, or $4,236, per 40 credit module, or £2,312, or $3,177, per 30 credit module. 

For international undergraduate students, the tuition ranges between £19,930, or $27,385, per year for those who study arts and social sciences, to £36,430, or $50,057, for those in medical school. 

Fee Status After Brexit

Prior to the U.K.'s exit from the European Union, students from other EU countries were able to pay the same tuition and fees as students in the UK. But as of August 1, 2021, new students attending Lancaster University from EU nations will no longer receive the same fee status and financial support as students from the UK. All new students who hail from EU member states in 2021-2022 and beyond will pay the same tuition and fees as all other non-UK students.

Students from EU countries who are already enrolled at Lancaster University will not be charged the higher non-UK student fees. They will continue to pay the same fees as before Brexit.

Study and Work Abroad Costs

Students taking a year abroad to study at another university will be charged 15% of the standard tuition fee, whether they are part of the Erasmus program or not. Students participating in a work abroad program will be charged 15% of the fee if they are part of Erasmus, and 20% of the fee if they are not.

Erasmus is an EU program that provides funding for education, training, youth, and sports in Europe. It is primarily available to students from EU-member nations. Following Brexit, the program is no longer available to the majority of U.K. students. Those who have already qualified for funding in previous years will be allowed to finish their programs through the 2021-2022 school year.