Part time MBA for an automotive contractor

psarinuk

Hello all,

Sorry for long post, seeking some career advice here:
I am in mid 30s, have a BEng honours in Computer Science Engineering and have been working in automotive sector in the SE England for the last 12.5 years as software and mainly diagnostics engineer, contracting through various agencies for the last 9 years, but on a largely stagnant hourly rate that has not reached mid-30s yet :mad:
I think I might be near saturation in this sector.

Also find my job fairly easy apart from this year when some CAD training and new SW tool training due to Euro5 legislation has been brought.

I would have to admit that most of my friends have surged ahead (money wise) during this time working as contractors in IT and finance, so I feel that I am left behind

I am looking to enhance my skills and look at other opportunities, MBA is something that has always fascinated me. Physics and Maths have been my strong areas and Finance has always attracted me.

I've a house-wife and 2 small kids. I am highly motivated, disciplined and very competitive. I've always aimed to stay at top during my academic and professional life.

With these things in mind, I am looking to start a part time MBA course and seek your advice. Someone has recommended OU to me, but any help + guidance would be highly appreciated. It would have to be an evening or weekend course (weekend preferred) as I intend to carry on working to support myself + family, but I am happy to put in all the hard work required. I also think of myself as a quick learner (avid DIYer @ home).

Your kind advice would be highly appreciated.
Many thanks in advance.

jacques_chirac

Nottingham has an Executive MBA programme, run in weekly blocks so you are not required to attend regularly. I was dubious when a friend told me he was taking the course, his background was similar to yours but in the gas industry, but since completing it he has jumped several grades up the ladder into a senior management position.

psarinuk

Thanks for your response Jacques.
Any further replies please, especially on open uni? Where to start/ look?

InsideInsurance

Many places do Exec MBAs but like full MBAs, where you do it has a significant weighting to how much its respected. The UK has 7 that make it into the world rankings: http://rankings.ft.com/businessschoolrankings/emba-ranking-2013

They are expensive, they take a lot of time and in my experience there are very few middle guys with them. Half the characters I know with them do very well for themselves but the other half I'd argue its done absolutely nothing for their careers as they do the same job on the same pay as people without even a degree let alone an MBA. Before investing in it I'd want to be certain I'd get the right return.

National_Careers_Service

Hi there psarinuk

It sounds like you’ve made a decision that doing an MBA would be the right step, but you’re just trying to work out which is the best programme option for you. I guess you’re trying to compare the value and quality of different courses as well as how you can make them fit around your current commitments. Definitely lots to think about!

It could be worth contacting the Association of MBAs http://www.mbaworld.com/ for some help. I understand they can offer impartial advice to prospective students. You could also ask individual institutions offering MBA courses, if you could speak to current students and/or graduates about their experiences and study outcomes.

It doesn’t sound like you necessarily want to stay in the automotive industry, but if you do, maybe you could even use some of your contacts and network for advice on this.

You mentioned you’re interested in finance and that science and maths are strong areas for you. This suggests you’re open-minded about your options. I wonder if it’d be easier to make a decision about your MBA, if you have a clearer picture of your career goals. If you think this is something you want to reflect on, you might find it helpful to talk this through with a careers adviser at the National Careers Service.

Whatever you decide, the great thing is you’re a motivated and disciplined person and this is exactly what’s required for this level of study.

Best wishes!


Penny

Andy_L

psarinuk wrote: »

Hello all,

Sorry for long post, seeking some career advice here:
I am in mid 30s, have a BEng honours in Computer Science Engineering and have been working in automotive sector in the SE England for the last 12.5 years as software and mainly diagnostics engineer, contracting through various agencies for the last 9 years,

What do you want to do that an MBA will help/allow you to do rather than spending the time/effort/money on, say, a relevant MSc/MEng (for Chartered Engineer status) or retraining in something new.

johnthea

If the OP passed his BEng Hons starting his course 98 or earlier he can get Ceng status if his course was accredited at the time most likely does not need the masters to get Ceng

seems about 16k the going rate for a DL MBA over 3 years no loss of earnings but possible loss of future earnings as you lose 2 years of any increase in salary an MBA would bring. Call it 6K a year by the time you buy a few pencils.

25K if you do it FT plus loss of earnings say 20K take home so that's 45K to find in the year you do it.

psarinuk

Hi again,

I bow and thank you all for your helpful replies.

My degree started in 2007, so if someone could share on how to attain the CEng status, it would be great. Are foreign accredited universities covered for this title?

As Penny from NSC pointed, I am not willing to be bound in automotive sector. I've always wanted to do MBA and reach senior management (with a technical background), work for good companies, preferable in finance sector. Living close to London, I should be able to achieve that.
Happy to commit to studies and put all the hard work.

Thanks for pointing out that reputation of the place where it is done matters. I've good and bad news here:
Bad: Most reputable institutions charge an arm and a leg for MBA. Can someone point out some reasonable ones to me or show me a path for scholarship?
Good: Since I work through a limited company, my accountant has hinted that I can claim some of this course as training/ expenses, so it may not turn out to be a bad thing. He suggested I can also win better contracts (like project managers) once I've finished my MBA.

Your take please?

I've not seen any suggestion for OU, so I presume the recommendation is not to go down that path?

Acc72

psarinuk wrote: »

Since I work through a limited company, my accountant has hinted that I can claim some of this course as training/ expenses, so it may not turn out to be a bad thing.

You might want to ask your Accountant about the concept of "wholly and exclusively".

psarinuk

Acc72, I was really in 2 minds when I put that piece of info so as to avoid any diversion from the main topic, but thanks for info. We are aware of that.

Can I've some suggestions wrt to Universities and fees please?

InsideInsurance

psarinuk wrote: »

He suggested I can also win better contracts (like project managers) once I've finished my MBA.

Why is your accountant trying to give you career advice? What expertise does he have to tell you what clients want?

If you are looking to get out of engineering and wanting to get into project management, what sort of net day rates are you hoping to achieve (and is it London or non-London)?

Ive done strategy and change/ project management in financial services for years and can count on one hand how many MBAs PMs there have been - more ACCAs