UK MBA

archlondon

2 4

Posted Jan 21, 2012 16:29

Hello,

Looking for a bit of advice. I'm considering a career change from the Armed Forces and so am looking at an MBA. I will be 30 this year and am as yet undecided as to what sector to aim for. I've a BA in Modern Languages (French and Russian) and am due to finish an MSC in Political Economy this year. I don't yet have a GMAT score.

I've looked so far at the following programs in the UK:

LBS (V expensive but apparently worth it)
Cass (seemingly well regarded)
Imperial Tanaka (heard mixed things about this program)
Cambridge Judge
Said Oxford
Durham (I'm an alumnus and so get a significant discount on fees; not sure of quality)

Based on the advice of friends in the business world, it would appear that not all MBAs are created equal and that it is worth spending money on the 'right' MBA at the outset. This also presumes that I will be sufficiently strong in terms of GMAT and interview, but I might as well aim high at the outset!

I'd prefer in the first instance to stay in London as this would minimise my costs (ie: fees of circa 30k and a move will probably work out more expensive than fees at LBS) and disruption to my home life but would consider moving for the right course.

I've looked at a couple of programs abroad but the fess and costs associated with moving appear to be prohibitive.

I'd be grateful for any advice.

Arch

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mistermark

31 62

Posted Jan 21, 2012 23:12

Are you thinking of a full- or part-time course? If the latter, you will still be able to earn while you study and will have to be on campus only part-time, which would reduce the accommodation cost disadvantage for non-London courses. Since the schools outside the capital tend to be rather less expensive, this might be a factor to consider.

Also, I'm biased but have you considered Cranfield? It has the highest satisfaction rating of any European school, according to Forbes Magazine. And it operates a defence MBA (a variant on the modular course), so you'd have some Forces company.

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archlondon

2 4

Posted Jan 22, 2012 17:37

Thanks for the reply.

I'm looking at full time; my rationale being that at 30/31 upon entry that I need to get moving soonest if I am to make this worthwhile.

I've been to Cranfield for courses before and know a couple of people who have completed the MDA; they speak highly of it. However, the fees and the cost of a year's accomodation etc make is less appealing. That said, it would work out at less than either Oxford or Cambridge and so is worth bearing in mind.

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ralph

692 1.074

Posted Jan 23, 2012 17:41

Based on the advice of friends in the business world, it would appear that not all MBAs are created equal and that it is worth spending money on the 'right' MBA at the outset.

Your friends give good advice. By all means, aim for the best school you can get into - LBS is a great school, one of the best in the world - so if I were you I'd shoot for that - and use it as a goal.

A couple of things you should consider when applying:

The average amount of work experience for students admitted to the LBS MBA program is about six years. You've been in the armed forces - can you translate your military experience to the equivalent in business acumen? Business schools do appreciate armed forces service as valid work experience - but the challenge is in presenting and framing it as such in your essays. Think about what your training gave you - and how it has prepared you for going back to school.

GMAT scores: Be sure to do all the prep work for the test to get the best score possible - take practice tests, get a study guide, etc. It's not a difficult test by any means, but sometimes the quantitative part is challenging for those who have been out of school for a while. The average GMAT score for students admitted to the LBS program is 700 - so aim high.

I'd apply to 3-4 schools. Choose one or two that you know you can get into and then one (probably LBS) that you really want to land. Maybe like this:

1. LBS (reach school)
2. Oxford/Said
3. Cambridge/Judge
4. Durham

<blockquote>Based on the advice of friends in the business world, it would appear that not all MBAs are created equal and that it is worth spending money on the 'right' MBA at the outset. </blockquote>
Your friends give good advice. By all means, aim for the best school you can get into - LBS is a great school, one of the best in the world - so if I were you I'd shoot for that - and use it as a goal.

A couple of things you should consider when applying:

The average amount of work experience for students admitted to the LBS MBA program is about six years. You've been in the armed forces - can you translate your military experience to the equivalent in business acumen? Business schools do appreciate armed forces service as valid work experience - but the challenge is in presenting and framing it as such in your essays. Think about what your training gave you - and how it has prepared you for going back to school.

GMAT scores: Be sure to do all the prep work for the test to get the best score possible - take practice tests, get a study guide, etc. It's not a difficult test by any means, but sometimes the quantitative part is challenging for those who have been out of school for a while. The average GMAT score for students admitted to the LBS program is 700 - so aim high.

I'd apply to 3-4 schools. Choose one or two that you know you can get into and then one (probably LBS) that you really want to land. Maybe like this:

1. LBS (reach school)
2. Oxford/Said
3. Cambridge/Judge
4. Durham

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maubia

209 418

Posted Jan 23, 2012 21:48

However, the fees and the cost of a year's accomodation etc make is less appealing.

are you sure? they have school's accomodations which are quite cheap

<blockquote> However, the fees and the cost of a year's accomodation etc make is less appealing.
</blockquote>
are you sure? they have school's accomodations which are quite cheap

quote

archlondon

2 4

Posted Jan 23, 2012 22:06

Ralph,

Thanks for your informative response. I'm glad to hear that the advice I have received thusfar has been good.

I have one further question to ask if I may. I note that you rank Durham as a potential fourth choice. How different are the opportunties coming out of a Durham MBA to those of at LBS? This may appear to be a somewhat foolish question, but this has much to do with fees. I can cover the fees at Durham comfortably from savings (along with the alumni discount) whilst LBS would require pulling rabbits from hats! In terms of opportunity going forward, does the extra £30k+ justify itself?

As an aside, I like the Clay Davis avatar!

Maubia,

Whilst the accomodation at Cranfield may be cheap, I presently live in the London commuter belt and so would lean towards London in the first instance, unless the course fees were so much lower as to comfortably offset the cost of a move (ie- as at Durham). With Cranfield fees at circa £33k, I'd imagine that the cost of a move and accomodation would add another £10k, putting it into the same bracket at Oxford and Cambridge, and not too far from LBS (assuming I stay at home). I suppose that this links to the question I asked Ralph- would the extra expenditure at a given school justify itself in the longer term?

Thanks again for your help.

Arch

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maubia

209 418

Posted Jan 23, 2012 22:08

well... I didn't know you are from London :-)

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archlondon

2 4

Posted Jan 23, 2012 22:11

Sorry! I neglected to mention that in my first post.

Thanks again

Arch

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ralph

692 1.074

Posted Jan 23, 2012 22:41

How different are the opportunties coming out of a Durham MBA to those of at LBS? This may appear to be a somewhat foolish question, but this has much to do with fees.

Not a foolish question. It's based on return on investment and the average salaries that grads tend to see after graduation. For instance, three years after graduating from LBS, alumni report their salaries are, on average, about $146,000 / year (in U.S. dollars.) As opposed to Durham, where the same three-year post graduation salary is about $101,000.

Using averages as a benchmark, you'd recoop the extra 30k in fees in about a year.

And the ROI isn't just in real dollar terms - you see similar reporting in overall salary increases: After 3 years, LBS grads see an increase of 132%; versus just 89% for Durham.

This performance is what people pay for - and it does pay off in the long run.

<blockquote>How different are the opportunties coming out of a Durham MBA to those of at LBS? This may appear to be a somewhat foolish question, but this has much to do with fees.</blockquote>
Not a foolish question. It's based on return on investment and the average salaries that grads tend to see after graduation. For instance, three years after graduating from LBS, alumni report their salaries are, on average, about $146,000 / year (in U.S. dollars.) As opposed to Durham, where the same three-year post graduation salary is about $101,000.

Using averages as a benchmark, you'd recoop the extra 30k in fees in about a year.

And the ROI isn't just in real dollar terms - you see similar reporting in overall salary increases: After 3 years, LBS grads see an increase of 132%; versus just 89% for Durham.

This performance is what people pay for - and it does pay off in the long run.

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maraki

10 20

Posted Jan 26, 2012 13:38

I'm also considering a career change from the Armed Forces but I am looking at a distance learning MBA. I am between: Imperial,
Warwick,
Manchester,
Bradford
Durham.
Any suggestions, please?

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ezra

521 711

Posted Jan 26, 2012 22:58

Warwick is one of the oldest programs, and I think your choice would really be between that one, Bradford, and Durham.

I'm not sure that Manchester has a distance learning option - I know the Global MBA can be taken from one of several centers around the world, but as far as I know it's not a true distance learning program.

Either way, for each program, check out the way the courses are delivered and what's involved on a weekly basis. Some you'll have to have a high-speed dedicated internet connection to use live videoconferencing. Others rely on previously-taped lectures and discussion forums.

I'd recommend choosing one with an on-campus segment - as meeting faculty and your fellow students face-to-face can really deepen the learning experience.

I'm also considering a career change from the Armed Forces but I am looking at a distance learning MBA. I am between: Imperial,
Warwick,
Manchester,
Bradford
Durham.
Any suggestions, please?

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maraki

10 20

Posted Jan 27, 2012 11:26

Dear Ezra, thank you for your answer.
Manchester offers a Global MBA with on campus sessions (1 week per semester) which is something I can do.

How would you rate-evaluate the programs mentioned above based on their students absorption in the market, their education quality and the opinion employers have about them?

If i decide a career change which one of them will help me more to find a well paid job in UK or Europe?

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mistermark

31 62

Posted Jan 27, 2012 20:46

Ralph,

Thanks for your informative response. I'm glad to hear that the advice I have received thusfar has been good.

I have one further question to ask if I may. I note that you rank Durham as a potential fourth choice. How different are the opportunties coming out of a Durham MBA to those of at LBS? This may appear to be a somewhat foolish question, but this has much to do with fees. I can cover the fees at Durham comfortably from savings (along with the alumni discount) whilst LBS would require pulling rabbits from hats! In terms of opportunity going forward, does the extra £30k+ justify itself?

As an aside, I like the Clay Davis avatar!

Maubia,

Whilst the accomodation at Cranfield may be cheap, I presently live in the London commuter belt and so would lean towards London in the first instance, unless the course fees were so much lower as to comfortably offset the cost of a move (ie- as at Durham). With Cranfield fees at circa £33k, I'd imagine that the cost of a move and accomodation would add another £10k, putting it into the same bracket at Oxford and Cambridge, and not too far from LBS (assuming I stay at home). I suppose that this links to the question I asked Ralph- would the extra expenditure at a given school justify itself in the longer term?

Thanks again for your help.

Arch

IMO there's a world of difference between Cranfield and Durham in terms of the quality of the course and reputation of the business school (as opposed to the university as a whole). As for accommodation costs, I suspect that Durham will be if anything more expensive than Cranfield. You can rent a flat off-campus in Milton Keynes or Bedford for maybe £500 a month; go for a two-bed and share it or live on campus and your accommodation costs will be a lot less than the £10k a year you fear.

<blockquote>Ralph,

Thanks for your informative response. I'm glad to hear that the advice I have received thusfar has been good.

I have one further question to ask if I may. I note that you rank Durham as a potential fourth choice. How different are the opportunties coming out of a Durham MBA to those of at LBS? This may appear to be a somewhat foolish question, but this has much to do with fees. I can cover the fees at Durham comfortably from savings (along with the alumni discount) whilst LBS would require pulling rabbits from hats! In terms of opportunity going forward, does the extra £30k+ justify itself?

As an aside, I like the Clay Davis avatar!

Maubia,

Whilst the accomodation at Cranfield may be cheap, I presently live in the London commuter belt and so would lean towards London in the first instance, unless the course fees were so much lower as to comfortably offset the cost of a move (ie- as at Durham). With Cranfield fees at circa £33k, I'd imagine that the cost of a move and accomodation would add another £10k, putting it into the same bracket at Oxford and Cambridge, and not too far from LBS (assuming I stay at home). I suppose that this links to the question I asked Ralph- would the extra expenditure at a given school justify itself in the longer term?

Thanks again for your help.

Arch</blockquote>

IMO there's a world of difference between Cranfield and Durham in terms of the quality of the course and reputation of the business school (as opposed to the university as a whole). As for accommodation costs, I suspect that Durham will be if anything more expensive than Cranfield. You can rent a flat off-campus in Milton Keynes or Bedford for maybe £500 a month; go for a two-bed and share it or live on campus and your accommodation costs will be a lot less than the £10k a year you fear.

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Duncan

14.013 15.475

Posted Jan 28, 2012 09:53

Durham will be pricey on campus but off campus is dirt cheap because the county is so depressed. But educationally Durham is a very bookish and academic programme. Cranfield is a world apart, as shown by student satisfaction scores there.

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maraki

10 20

Posted Jan 30, 2012 21:50

Imperial
Warwick
Manchester
Bradford
Durham

How would you rate-evaluate the programs mentioned above based on their students absorption in the market, their education quality and the opinion employers have about them along with the Financial time 2012 ranking?

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