An MBA holds prestige in many sectors of business across the world. This has been largely due to the fact that it comes with a hefty price tag. With globalisation and changes in international business, more people are getting their MBA’s through different ways of funding.
We asked Professor Zaheer Hamid, Director at MANCOSA Online to give us his advice on how to get the best experience for your MBA tuition fees.
How do you get accepted on an MBA?
Preparation is key to gaining entry to an MBA programme as there is always competition for places. Professor Hamid says:
“Ensure you have the essential supporting documents required by your chosen institution, which may include a CV, your academic qualifications and transcripts, professional and academic references, and perhaps an English-language test (if it’s a requirement).”
“Most schools will request a formal interview with you prior to offering admission. Before this interview, think carefully about what you can offer if selected – for example, your professional work experience, your academic achievements to date, your motivation towards both the MBA and the school, what you want to achieve from your MBA and your future plans.”
How to save on MBA fees?
Many business schools offer early-application discounts and scholarships. Online MBAs are often an accessible way to obtain the same qualification and will allow you to keep working throughout your studies, although you will need to be very self-motivated to study successfully in this way.
Professor Hamid explains:
“The MANCOSA Online MBA offers prices per module rather than for the whole qualification which can help spread the payment over time. Our programme is also fully online and it allows one to study or connect at a time that suits them.”
Other routes you might explore would be to request your company or employer to pay for your fees or ask for an employer sponsorship.
How to ensure I maintain a good study-life balance?
There is no denying the fact that studying an MBA is a colossal undertaking. “MBA students that perform well have planned and dedicated their time for their studies and have all-around support from their families, friends and employers – this directly speaks to the critical skill of time management which is crucial,” says Professor Hamid.
“Our online MBA offers the flexibility of studying anywhere, anytime, without needing to attend a contact learning class. It also allows one to plan ahead of time, and it teaches one to better manage their time,” he explains.
An MBA as a career changer?
Our MBA programme offers great opportunities for networking with fellow students and alumni. “The peer-to-peer conversation and alumni involvement can be a powerful networking platform that can facilitate a career change.”
“If you’re looking to change careers, it’s perhaps even more important to make sure that you take advantage of other learning and development opportunities, such as personal and professional development, networking and extracurricular sessions that might expose you to potential career paths,” Professor Hamid explains.
“Choose assignment topics, too, that allow you to develop your knowledge of areas and sectors that you might want to move into so that you can take full advantage of any serendipitous conversations or opportunities.”