Which MBA?
Which MBA?
With a plethora of options available, it is crucial that you ensure you will get everything you want from your MBA course. Firstly, can you afford to study full-time? If not, limit your rsearch to part-time and distance learning courses, rather than wasting time with full-time programmes.
Ranging from as little as £3,000 to more than £40,000, you must decide what type of course you require - and can afford. An individual programme costing £40,000 will almost guarantee you an internationally recognised qualification and an address file brimming with top class contacts. At the other end of the scale, you will save money with a cheaper MBA in the short term, but your qualification is unlikely to do much more than improve your basic skills. A lack of international recognition generally dictates that the high-flying positions remain outside your grasp, and with them, the top salaries. When thinking about how much to spend, bear in mind that the average student spends between £8,000 and £12,000. There are 118 different MBA providers in the UK, offering a grand total of 250 programmes and making your selection process far from easy. Beware the charms of glossy prospectus brochures and while league tables can be helpful, it is important that you recognise their limitations. Each table adopts different measures rendering any comparison fairly meaningless. Also, the majority of those published are international and include only a few UK institutions. If a UK business school consistently fairs well across the tables, it is almost certainly a good all-rounder, but don’t imagine that it is the only one.
A number of professional bodies accredit business schools, including the UK’s Association of MBAs and, EQUIS (the European Quality Improvement Sytem).
Accreditation basically guarantees a respectable level of teaching and facilities. This does not mean you should necessarily discount those that are not accredited. Accreditation is expensive so up-and-coming schools may not have applied as yet. Any business school that has applied but failed, however, is probably best avoided.
Ultimately, doing your own research is probably the most productive and safest plan of action. Remember, most schools will be more than happy to let you sit in on a lecture; try and asses the quality of student currently studying there. You should also ask individual schools which companies are recruiting from their courses. How is the programme constructed? Will you have a great deal of contact with your lecturers or will it be a more reading-based course?
For more advice, have a look at the other MBA-based articles in this section.
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