Is an MBA worth it?
Discussion
I have a 2:1(Hons) in Software Development and I was thinking about diversifying myself a little bit and moving into the business side of things.
I can do an MBA for £15,000 and I was wondering if anyone here had done one and what the benefits were in terms of getting into higher management/setting up own business, etc.
Thanks.
I can do an MBA for £15,000 and I was wondering if anyone here had done one and what the benefits were in terms of getting into higher management/setting up own business, etc.
Thanks.
Most places require a minimum 2:1 degree, alternatively you can go through the american SATS (I think they are called that???) tests.
Most AMBA approved MBA's need a degree and SATS.
Is it worth it? I think it looks good on my CV, but hasn't really done me any good yet....Maybe one day.
paul
Sorry should have addded, Where your MBA is from is nearly as important as having one in the first place...personal opinion OU
>> Edited by JP to stop me sounding so smug...
>> Edited by JP on Monday 17th January 19:34
Most AMBA approved MBA's need a degree and SATS.
Is it worth it? I think it looks good on my CV, but hasn't really done me any good yet....Maybe one day.
paul
Sorry should have addded, Where your MBA is from is nearly as important as having one in the first place...personal opinion OU
>> Edited by JP to stop me sounding so smug...
>> Edited by JP on Monday 17th January 19:34
When I got my Marketing Diploma, I considered doing an MBA too. I was quoted £14k and the only viable reason I was ever given to justify the cost was that it "gave added weight when arguing a certain point"!
Suggest you look at the most successful people in your industry and see if they have got there because they have an MBA.
(Bet they don't!)
Suggest you look at the most successful people in your industry and see if they have got there because they have an MBA.
(Bet they don't!)
JP said:
Sorry should have addded, Where your MBA is from is nearly as important as having one in the first place...personal opinion OU
From what I have seen this holds very true for employers who will recruit solely on having an MBA, however if it is for personal development, the lower ranked schools still provide a good curriculum.
In the professional services market at the moment MBA's aren't that hot, however it seems they are in the city and boutique consultancies/strategy houses
If you look at the content of a lot of management school programmes you'll see that their business MScs are very similar to the MBA, apart from the double price. Some places will allow you to do a business MSc and convert or top up or whatever onto MBA. If all the academic arguments/writers are to be believed then European MBAs are 'better' than their American counterpart. If it's E-business you want to study then again you can to a certain extent tailor your MBA to suit.
schueymcfee said:
I have a 2:1(Hons) in Software Development and I was thinking about diversifying myself a little bit and moving into the business side of things.
I can do an MBA for £15,000 and I was wondering if anyone here had done one and what the benefits were in terms of getting into higher management/setting up own business, etc.
Thanks.
My mate who did an MBA straight after his Electrical Engineering degree, says that it really hindered his career within engineering as he was more qualified than any of his potential bosses and that made it harder for him to get on within the industry as he hadn't enough experience and all his potential employers (ordinary bog standard managers doing the hiring) weren't prepared to give him a start as they weren't going to let him take over their jobs.
Just a thought if you have no industry experience.
The mate says, if he was to do it again he would try and get 3-4 years good experience first and then do his MBA, where it would be easier to apply his industrial experience along with the rigours of an MBA. He is doing more than okay now (he is one very smart cookie), but his career did look touch and go for a while.
The thread >12 months ago was probably me.
I am 37 now and just finished an AMBA accredited MBA at Bradford Uni, one of the top 10 FT listed schools. I did it full time for 12 months and really enjoyed it. At £16,500 for the basic fees + expenses + mortgage + not working for that time, the opportunity cost is nearer £80-100K.
I was one of the lucky ones and came out with a distinction. As said before, it can be a hindrance as much as a help. The "you don't have enough experience" line does crop up from time to time from prospective employers (even though I have 15 years in the industry) - so work that one out! Finding a job where you have exactly the right amount of experience to do it plus having the MBA, is the hardest part. I have even turned down jobs because I felt that although the money offered was very good, it would be a waste of my investment in the MBA. Having the degree is not a magic ticket into a super job, it should really be seen as being the icing on the cake.
The test that some schools require is the GMAT - Graduate Management Admissions Test - usually need somethign like 500-550 to get in. Some schools, like Bradford, make exemptions for UK students who obviously have a lot of experience, and can choose to waive that requirement after looking at tyour application. Absolute minimum to get on an MBA is 4 years experience, and preferably a first degree. Open Uni may be different, but that course still costs £10K and will take several interrupted years to complete.
If I can be of any further advice, drop me a mail.
Bryan
I am 37 now and just finished an AMBA accredited MBA at Bradford Uni, one of the top 10 FT listed schools. I did it full time for 12 months and really enjoyed it. At £16,500 for the basic fees + expenses + mortgage + not working for that time, the opportunity cost is nearer £80-100K.
I was one of the lucky ones and came out with a distinction. As said before, it can be a hindrance as much as a help. The "you don't have enough experience" line does crop up from time to time from prospective employers (even though I have 15 years in the industry) - so work that one out! Finding a job where you have exactly the right amount of experience to do it plus having the MBA, is the hardest part. I have even turned down jobs because I felt that although the money offered was very good, it would be a waste of my investment in the MBA. Having the degree is not a magic ticket into a super job, it should really be seen as being the icing on the cake.
The test that some schools require is the GMAT - Graduate Management Admissions Test - usually need somethign like 500-550 to get in. Some schools, like Bradford, make exemptions for UK students who obviously have a lot of experience, and can choose to waive that requirement after looking at tyour application. Absolute minimum to get on an MBA is 4 years experience, and preferably a first degree. Open Uni may be different, but that course still costs £10K and will take several interrupted years to complete.
If I can be of any further advice, drop me a mail.
Bryan
Only worth it if you want to either change career completely (eg go into consultancy) or seem to have hit a glass ceiling in your current organisation and want to move on in another place OR your current place sponsors it. In addition dont "buy on price". If you really want the MBA to work then you need to go to a really highly ranked school with a very stong reputation-say LBS, Cranfield, Warwick, Imperial, City etc..They will cost more but will open the right doors. Imperial and Cranfield are well suited to those with an engineering bias, whilst LBS is great if you want to join Consultancy or Investment Banking. Whatever anyone says-the MBA combined with appropriate work expereince opens doors. Once you step through the door its up to you to perform!
Stuart,
Add to the above list: Manchester, Bradford and Lancaster.
I note that you are in Huddersfield. If you are really serious about doing an MBA, I can naturally recommed Bradford to you as it is also your closest top 10 centre. I would be happy to take you around the school, introduce you to people and of course, tell you anything you want to know about the course. Just drop me a line and I will see what I can arrange.
Add to the above list: Manchester, Bradford and Lancaster.
I note that you are in Huddersfield. If you are really serious about doing an MBA, I can naturally recommed Bradford to you as it is also your closest top 10 centre. I would be happy to take you around the school, introduce you to people and of course, tell you anything you want to know about the course. Just drop me a line and I will see what I can arrange.
TUS 373 said:
Stuart,
Add to the above list: Manchester, Bradford and Lancaster.
I note that you are in Huddersfield. If you are really serious about doing an MBA, I can naturally recommed Bradford to you as it is also your closest top 10 centre. I would be happy to take you around the school, introduce you to people and of course, tell you anything you want to know about the course. Just drop me a line and I will see what I can arrange.
Thanks for the offer Bryan, it's much appreciated!
I'll be studying part-time while working full-time, but there might be a chance my company will fund it - but I reckon it'll depend on what course I do and its relevance to my job. I'll have to do some more thinking, but I'll keep your offer in mind.
Thanks again.
schueymcfee said:
Stuart,
Add to the above list: Manchester, Bradford and Lancaster.
I note that you are in Huddersfield. If you are really serious about doing an MBA, I can naturally recommed Bradford to you as it is also your closest top 10 centre. I would be happy to take you around the school, introduce you to people and of course, tell you anything you want to know about the course. Just drop me a line and I will see what I can arrange.
Thanks for the offer Bryan, it's much appreciated!
I'll be studying part-time while working full-time, but there might be a chance my company will fund it - but I reckon it'll depend on what course I do and its relevance to my job. I'll have to do some more thinking, but I'll keep your offer in mind.
Thanks again.
No problem. I have just been informed that Bradford has climbed up the new FT rankings - it is a quality business school. As well as the full time course, they offer part time, executive and distance learning too. Just give them a call for a prospectus!
Regards
Bryan
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