'The UK is an economic world leader, a G8 member and a global financial hub - and home to internationally acclaimed business schools with an annual intake of over 12,000 students'
When the Association of MBAs (AMBA) surveyed careers in 2008, the average increase in base salary for MBA graduates worldwide was 46 per cent. In the UK, the average annual salary for an MBA graduate was £66,875. It all points to an MBA being a great way to boost your international career.
Choosing a school
You can find the best business school for you by researching its reputation and quality of recruitment. As a prospective student you should look at all the available rankings and league tables. You should also ask schools to name the companies that recruit from their programmes, and look at the type of organisations that a school’s alumni now work for. This will give you an idea of how the school is viewed by industry. At schools where the Graduate Management Admission Test (GMAT) is used, the average student’s score can provide an indication of the quality of the MBA.
Many institutions require students to take the GMAT, which covers verbal reasoning and numerical analysis and is designed to see if you can cope with studying for an MBA. MBA students are usually required to have business and management experience as well as a first degree. A minimum of three years’ work experience is normally requested, meaning that MBA students are usually at least 25 years old and are often in their 30s or 40s, with considerable senior management experience.
You also need to consider cost – course fees can vary from under £8,000 to more than £35,000 on accredited programmes. Expensive tuition fees don’t guarantee a first-rate MBA any more than low fees necessarily indicate a programme is of inferior quality.
Study methods
Your MBA programmes will include lectures, seminars, case studies, group projects and role-playing exercises and you’ll need to read extensively around the subject. MBA programmes also provide opportunities to meet influential business figures and speakers through seminars, internships, projects and events so you can learn even more about the world of business.
Increasingly MBA programmes are tailored to particular industries or aspects of management, such as financial management, hospitality, sport and international business. This means you can fit your interests around your course.
What can I study?
Full-time programmes
Most full-time MBA programmes in the UK run for one year, although some can last for two. The first term covers the core curriculum of finance, marketing, human resources, economics, accounting, information systems, operations and quantitative methods. In the second term, you can choose from a number of optional subjects (electives), meaning you’ll be able to specify in your interests.
To enrol on a full-time course you should apply directly to the school(s) of your choice. The application deadline can be as early as the January before the September start date of a course, so make sure you check the requirements well in advance.
Part-time and flexible programmes
Most part-time programmes last between two and three years. You can also opt for distance learning at some institutions, which is offered on both full-and part-time study, making the course tailor made for you.
Distance learning programmes use text, CD-roms, videos, audio material, web-based resources and video-conferencing. Many business schools provide local support and, if you’re studying in your own country, you may be able to meet up with academic staff from the UK. However and wherever you chose to study your MBA, once completed, you will have a prestigious and renowned qualification.
