One of the factors when deciding to undertake an MSc at Bayes Business School will be the cost of living in London. You will need to budget for general living expenses, including rent, bills, food, toiletries, travel and socialising.
Average living costs can be difficult to predict, as every student will have different priorities and lifestyle choices. That is why, in addition to the information on this page, you should fully consider and research your personal likely living costs.
Accommodation can be one of the biggest expenses and costs vary depending on which option you choose, so please consider if your preferred option suits your budget. Please check the information on our accommodation and housing pages for information on student halls and private accommodation run by the University of London Housing Services.
Please note the list provided below is approximate and not exhaustive, therefore it should be used as a guide only.
Accommodation (in halls) - £950-£1,400 per month
City, University of London work with affiliated halls of residence for post-graduate students. If you have a place in halls of residence, you can expect your accommodation to be between approximately £220 and £320 per week depending on which hall you are allocated to. This weekly amount typically includes utilities such as heating, lighting and hot water. You can see the post-graduate halls of residence and their related costs here.
Accommodation (private) - £600-£1,600 per month
Prices will vary depending on which zone in London you live in and whether you want to flat share or live alone. You could expect to pay more than this if you want to live within walking distance of the campus. However, the majority of students will live further out and commute in for classes. Private accommodation rent is not guaranteed to include utilities. You can find further advice on the City website here and you can use sites such as Zoopla, Rightmove and SpareRoom to find accommodation in London. We would recommend looking at the government’s website about your rights when renting in the UK as these may be different from what you are used to.
Electricity/Gas/Water/Council tax/Internet - £120-£220 per month
Utilities in private accommodation are rarely included within the rental price. Prices will vary depending on whether you flat share or live alone. You are able to change internet providers if you find a better contract, however, electricity, gas and water providers are sometimes fixed by the landlord or letting agent. Council Tax will vary in amounts depending on the borough of London you live in but you might get a discount if you are a full-time student.
Travel - £65-£130 per month
London has a great travel network with trains, tubes, buses and bikes connecting you across the city. Each comes with a different price so depending on which public transport you take, this can affect your travel budget. Full-time students are eligible for a 30% discount on a student weekly or monthly travel card to use on buses and the underground.
Food - £170-£350 per month
While London is home to some of the best food in the world, eating out every day can become costly. Near the campus you can find chain coffee shops and supermarkets that have reasonably priced lunches. However, we recommend buying groceries and bringing lunches if you are looking to budget your money.
Entertainment - £110-£220 per month
One of the benefits of studying is access to student discounts. Cinemas, museums and theatres often advertise a student price which you are entitled to. High-street retails often have student sales and many food vendors will provide various discounts. To take opportunity of any of these, we would recommend getting a TOTUM card from the Students' Union.
For information on cost comparisons, you may find the following sites useful:
