How much does an MBA cost?

I am currently a Chartered Manager and am interested in doing an MBA, can you advise how much this may cost and if there is  finacial support to help with gaining this qualification.

Depends where you do it Maureen.  Different schools will charge different amounts.  Are you planning to do full time or part time?

Hello Maureen,

I obtained an MBA via the Open University Business School and the four years part time study cost about £3k p.a. but I understand from colleagues doing it now that the cost has risen.  I believe those figures included the periodic residential school long weekends too.

I would suggest the cost should/could be viewed as an investment and you may care to research the net value of an MBA, in monetary and non monetary terms, in order to form a view about its value.

I have no idea about financial support, but you may be able to get some help from your employer.

 

 

Ms Maureen i will suggest if you dont mind, go for M.Sc/MA Management programme it is slightly cheaper then MBA. Although MBA is a very highly reputable the best of the best general management degree in th world. 

MBA and M.Sc/MA Management have got similiar courses.

I was also going for MBA programme but it was very expensive for me so what i did i went for alternative of MBA called M.Sc Management.

Hi Maureen,

I did my Exec (PT) MBA at Ashridge (currently £32k) and would recommend to anyone considering an MBA.

They (and other schools) offer scholarships, and there are MBA loans available from NatWest.  Take a look at the Association of MBAs website (www.mbaworld.com).

When looking at costs, also remember the following:

  • Your own personal investment in time required
  • Any unpaid leave you may need to take for class time, exams etc
  • Cost of text books (they can be expensive)
  • Travel and accomodation costs (I wished I stayed over at Ashridge more, but as I was self funded it was difficult)
  • Giving up things like holidays and sometimes juggling family life around a day job and MBA workload.

Robert mentioned looking at the cost as an investment - I'd definatley agree.  What ever you put in (time, effort, hard work) will be of benefit in your work And home life (yes, an MBA helps look at life differently too!).

Good luck,

Yusuf

Practice Executive, Dell and Non-Executive Director, Third Door

Good insight Yusuf.  Have you been able to quantify the return on investment?