MBA
Author
Discussion

matt28

Original Poster:

147 posts

235 months

Tuesday 10th July 2007
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Hello

I am considering studying for an MBA.

I have done a search on here for threads about MBAs, and the main thing I read is: "I / my mate / my partner got an MBA and their salary doubled/tripled/quadrupled". That's all well and good if their 50k salary turned into 150k. But are we actually talking of 20k salaries turning into 60k?

Would anyone who has (or knows anyone) who has fairly recently got an MBA comment on this in a little more detail than percentages. Any PMs appreciated if you would rather not comment on the board - I am just trying to decide if financially it is worthwhile as I am already on a decent salary and find it hard to believe I could even double it, much less better that with an MBA.

Thanks

edc

9,665 posts

281 months

Wednesday 11th July 2007
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If you're on 20k then no MBA is going to make up for the lack of experience. MBA is the icing on the cake and almost a USP for somebody who is already senior/manager/leader/strategist.

matt28

Original Poster:

147 posts

235 months

Wednesday 11th July 2007
quotequote all
edc said:
If you're on 20k then no MBA is going to make up for the lack of experience. MBA is the icing on the cake and almost a USP for somebody who is already senior/manager/leader/strategist.
Ok, so let's take someone who is fairly senior (technical) but has just got into the management side of things in the past year or so and are currently making circa 50k (outside of London). What is an MBA likely to do to their salary, if anything?

trunnie

317 posts

287 months

Wednesday 11th July 2007
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Have a look at the tables published by the FT here. www.ft.com/businesseducation/mba The tables show the changes in salary. Much also depends on where you do your MBA - an MBA from a good university is better thought of than one form a poor one and thus more likely to give you a higher salary.

It's difficult to generalise because any individual will be unrepresentative and any tables too general. As a rule of thumb the City pays people a lot more and I suspect that that leads to a lot of the doubling/tripling stories. As a lawyer my MBA just meant that I got a shot at some more interesting jobs, but didn't mean a huge salary increase. There were a number of engineers in management positions on my course and given the relatively low sums they were paid then I believe the doubling stories.

neilo

29 posts

232 months

Wednesday 11th July 2007
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Hi Matt,

I graduated with an MBA from CASS Business School last year however I am still in my current job. A few things to note:

1) Reasons for doing an MBA should not ALL be about money, it should be more of a case of personal development you want to do it for you, you have a career path in mind and that an MBA will assist in getting you there...money comes into it yes but as I was sponsored (£27k 2 years) I think its a little bit much to ask for my salary to be doubled.

2) Don't believe all you hear about doubling salaries post graduation etc etc. Lots of my classmates have stayed in the same job with little increase in salaries....again its a career path decision and a stepping stone (step by step) you are not going to be offered CEO job after CEO job straight away.

3) Lots of people nowadays have additional qualifications of which the MBA is one, it is more sought after in some areas than others (City etc etc) and will be of benefit.

4) If you decide an MBA is for you make sure its with a reputable business school or uni...some are not worth the paper they are written on

5) Its quite intense at times and assuming you do it P/T your work life balance will at times be work/work balance.

6) I am glad I got it and was sponsored to do it, its not cheap but generaly if you consider the step by step approach and you know where you want to get too it certainly cannot do any harm. Its not a get rich quick sceme or anything but a useful differentiator...you still have to sell yourself at future job interviews etc where the positions you will apply for will typically have other MBA graduates applying as well.

HTH and good luck with your decision.
Neilo


eyebeebe

3,867 posts

263 months

Thursday 12th July 2007
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I think the earning multiples of your salary stories relate mainly to going into Front Office City roles and maybe Consulting. I plan on doing one in a couple of years and the only two I would consider in Europe are London Business School and maybe INSEAD. I work as a financial analyst in the city at the moment, but plan to use it to get into the front office. I don't expect my basic salary to increase, in fact it may be slightly lower, but the bonuses, even in the first year post-MBA have the potential to be 100% of your basic.

If you are on £50k in industry outside of London and don't want to move into the City, I can't see you doubling your salary in the short term. It should however open doors for your later career.

matt28

Original Poster:

147 posts

235 months

Thursday 12th July 2007
quotequote all
Thanks guys.

With regards to schools, is Warwick considered a good one? I am interested in doing this distance learning, and they seem to be the highest placed uni that offers an MBA via distance learning?

beedj

484 posts

243 months

Thursday 12th July 2007
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Warwick is one of top few - completed mine via Warwick Distance learning c.5 years ago.

Now earning twice what I was four years ago (pm me) - no dramatic change of career - just accelerated progression in my field (IT Services, but account management side, not technical). I genuinely believe this is a result of me performing better by really using what I learnt on MBA, rather than the qualification qualifying me for higher/better roles.

Don't undertake it lightly - hard to fit in the necessary hours (I got by on c.8 hours per week - less than they say) if you're also holding down a demanding day job.

eyebeebe

3,867 posts

263 months

Thursday 12th July 2007
quotequote all
matt28 said:
Thanks guys.

With regards to schools, is Warwick considered a good one? I am interested in doing this distance learning, and they seem to be the highest placed uni that offers an MBA via distance learning?
I'd say that a large part of an MBA is the networking and sharing other peoples experiences and that you would miss these vital components if you did a distance learning based one.