In the case of most postgraduate
qualifications, you can move straight on from
a first degree to a postgraduate course. While
it is not absolutely impossible to take an MBA
in this way, it is certainly inadvisable.
Why
do an MBA?
As Mike Jones, Director General of the Association
of MBAs says “The MBA is focussed on themes
and techniques applicable to the business world
and demands that students bring to it some business
theory and experience. What distinguishes it
from other business-led masters degrees is that
it is both a postgraduate and post-experience
qualification,” so apart from a minimum
of two years work experience, what qualifications
do you need to be accepted by a UK business
school?
How to start
The Association’s Salary and Careers survey
reveals that around 80 percent of MBA students
studying part-time or full-time held a first
degree and had achieved a first or upper second.
So a good first degree can be said to be the
norm.
Applicants are also usually required
to take a common entrance exam, and one criterion
of how choosy the different schools are is the
GMAT score they require applicants to achieve.
GMAT comprises tests in numeracy, literacy,
verbal and non-verbal reasoning. Non-English-speaking
applicants are also required to take an English
language test.
Most, but not all, business schools
academic years run from September or October.
Although the deadline for applications is generally
April/May it is advisable to get your application
n at the beginning of the calendar year in which
you wish to begin studying. Part-time and distance
learning MBAs tend to begin in January so you
should think about applying for these about
six months prior to that.
Many prospective MBAs see the
qualification as a passport to change jobs or
move between companies, business functions and
industries. MBAs can also look forward to a
big leap in salary once they have graduated.
In fact, our latest Salary survey shows that
average starting salaries for graduates have
risen by 72 per cent. However, an MBA is a huge
investment in both time and money and there
are many factors to consider before taking the
plunge.
Types of
course
The first step is to decide which type of the
multitude of courses available is most suitable
for you. The MBA programmes can be full-time,
part-time, and modular or use distant learning.
Full-time programmes usually last a year, while
part-time programmes, which offer students the
chance to integrate studies with employment,
average two or three years.
More than 10,000 students opt
for distance learning, which is the fastest
growing method of MA study. Distance learning
provides a viable alternative for students who
are unable to fit in part-time attendance, or
who do not have access to a school of suitable
standing. The course takes an average of three
to five years to complete.
Additionally, a prospective student
needs to consider a range of factors including
the size and culture of the school, programme
content, quality of faculty and student body,
facilities and location. The official MBA handbook
is the Association of MBA’s Guide of Business
Schools, published by Financial Times/Pitman
Publishing at a cost of £29.95. It offers
the budding student information on choosing
a school, the salary and career prospects open
to them once they have obtained their qualification,
as well as comprehensive details of programmes
and schools. Other topics covered include studying
overseas, different methods of study, how to
apply, financing an MBA and the impact turning
to study may have on families and your social
life. For the first time the 200-2001 guide
also includes a StudyLink MBA CD Rom which highlights
programmes accredited by the Association and
lists of hundred of others around the globe.
The Programme
Whatever type of MBA you opt for, the core programme
will consist of basic business skills (about
one-third of the course) and electives (which
you choose) As a general rule, core courses
should cover managerial economics, financial
and management accounting, marketing, quantitative
methods, human resource management, operations
management, information systems and business
strategy. Increasingly schools are offering
specialist MBAs but these core subjects still
form the meat of the programme.
Selecting
a school
Competition among business schools to attract
prospective students is fierce and choosing
a provider is not an easy task as there are
now over 114 schools in the UK.
The reputaion of the institution
from which the MBA is gained is crucial. Employers
do not simply ask whether an applicant has an
MBA, they also want to know where it came from.
Although Europe is beginning to
establish league tables of business schools,
the process of accreditation that has been carried
out by the Association of MBAs for more than
25 years offers clearer, more specific guidance
and gives an indication of the quality of a
schools programmes that is rather better than
that given by the school itself. Programmes
at 32 British business Schools and 18 schools
on the continent and elsewhere carry accreditation
by the Association on full-time, part-time,
modular and distance learning programmes.
Accreditation by the Association
gives an indication of the standing of the business
school involved and also means that students
are eligible for the Association’s loan
scheme, which is designed to help individuals
paying their own fees. Since the loan programme
started in the 1970’s £130 million
has been made available to students.
The rewards
Company sponsorship is the most popular method
of taking an MBA. Our Salary Survey shows that
50 per cent of MBA students have all fees paid
by their employers, and only 16 per cent report
no financial assistance.
The decision to take an MBA cannot
be taken lightly – but, as our survey demonstrates,
for those who graduate the prospects, both in
terms of personal development and career progression,
are bright.
Author: Robert
Owen,
Association of MBAs
Please
also see MBA
courses in the UK
