Mba?

TopQuark

Bear in mind that the league tables don't tell you everything. For example, the OU can't be ranked in the main tables as it doesn't offer a full time MBA course. Also, the rankings take into account the average salary of MBA graduates from different business schools. In this situation, it is difficult to separate out cause and effect as the most expensive MBA courses are associated with the highest paid positions.

TopQuark

Acc72 wrote: »

Thanks for the comments - for those who studied for an MBA via the OU, how long did it take you to complete and what was the average time commitment required to study per week ?

Also, does the course run continually throughout the year, or are there "terms" which offer a break ?

I have looked at this course, but in addition to the financial commitment the commitment to studying for at least 3 or 4 years is rather daunting !

It is quite a commitment, yes. It's around 10 hours per week at a minimum and there are no breaks - it's pretty much continuous. It takes around 3 years to complete. It's interesting though (in the main), so I generally don't find it a chore.

You also need to be fairly numerate to get through the finance component of the course. It's nothing more than a bit of easy algebra, statistics and a tiny smidge of calculus but if your first degree is not technical in any way, it's something to bear in mind.

Best of luck if you decide to go for it!

spock007

Good thread - I'm in similar situation to the OP. Engineering, under 30, £47k salary. Getting bored with the technical side of things and would REALLY like to do the INSEAD MBA. 10months and €60k + €30k expenses. Add on lost salary for that year, also. Problem is they require you to practically speak 3 languages and to have worked outside of your home country..

INSEAD did a 2011 MBA employment statistics guide and it looks encouraging - good employment prospects (largely with consulting groups) and certainly very good salaries.. Trouble is, I could take all my savings and I'd still need a loan to do the course, and there's no GUARANTEED payback/job prospect. Yes, the money matters. But also, I love to learn - I'm currently learning German and reading MBA materials in my spare time (as well as technical stuff for work). I also fancy a change of industry and the chance do something more international. Engineering will never pay, and I don't want to be stuck in front of a computer forever. Alternative is to go into management with my firm after another 3-5 years and they might pay for a lesser known MBA (probably Heriot-Watt or Edinburgh uni), though I'd be staying in the same field of work - and I'm not sure I want to do that. But the costs would be fully covered by them.

I guess I'm as uncertain as the OP seems regarding this. You've got to speculate to accumulate, but it's a big risk... or is it? It'd be good to speak to some of the people who've done it / current students.

gibson123

I did my MBA at Napier Business School whilst working full time, it takes 3 years, I am also a lone parent. This isn't a how brilliant I am post however, just give you some pros and cons and ideas for fitting around lifestyle.

The distance learning option fits in with the full-time work but you need to dig out a good 15 hours a week for studying and have to be extremely disciplined. If you can wrap your course work around work in your main job that will help. I negotiate with my employer to do my business processes and International business modules using real work situation, so these modules I basically completed 50% work time and 50% own time, I did a similar exercise with my dissertation which I based on a real scenario and research my workplace found valuable.

I also did a lot of work in my car e.g. drop of kids at rugby, switch on laptop, get on with course work and on the train to work, if you drive now think ab out public transport options.

Doing an MBA makes you better in your job, I thought I was pretty good before but I now think differently, more strategically, more focused, it has been really valuable. I was not motivated by money, just fancied a challenge.

BUT kiss your social life goodbye, if your employer / partner / family is unsupportive don't even think about it.

Get a cleaner and a gardener.

Good luck no matter what you do.

spock007

Same boat as the OP (sorry to resurrect an old thread). I'm also in engineering, money is about the same. Wow to the person earning £80k, what job was that? Save a decent amount but can't help think I can do better wage-wise. Not sure whether to stay in engineering or do the MBA and change field. To really make money it'd have to be a change of field; engineers with MBAs don't really tend to rise any further from what I've seen - in fact most managers etc in engineering get taught on-the-job. Still, if my company paid for some of it, it could be an option regardless. Those who did it - did you part-fund it? What line of work did you go into?

vivatifosi

Mine was corporate funded. It was useful at the time, though I've since left, gone into a totally different field and don't use it as much (I was a business analyst). I'd say that:

1) Be sure of your motivation for doing it. It is rewarding but a long and hard slog if not taken full time.
2) Make sure that you take an accredited course. Not all MBAs are created equal. There are numerous rankings and tables to help you decide: Economist, FT, etc; as well as bodies such as AMBA.
3) Be aware that for every recruiter that wants MBAs, you will meet others that hate them with a passion and see us all at clones.
4) In addition to accreditation, find one with electives that meet your interests and needs.

I also agree wholeheartedly with gibson123's post above.