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3 Things to Consider When Choosing to Do an MBA

If you’ve reached a stage in your career where you feel you would like to take on more responsibility and you think a MBA is the way to do it, then you have to take a number of decisions before applying. Though an MBA can be a great asset to any aspiring business person, it requires a large amount of commitment and should be thought through carefully before you take on the course. Here are a few key things to consider when choosing to do an MBA which should help you come to the right decision for you.

1. is this the right moment in your life? When someone describes an MBA it all sounds too good to be true – a qualification that is well respected, will increase your career prospects and give you the skills you need to climb the career ladder. However, it is important not to be overwhelmed by how great it all sounds – an MBA only works for you if you’re at the right stage in your life to take it on. To begin with, you need to have had enough business experience before applying – on many MBA courses it is a prerequisite to have around 5 years of real work experience (often around 10 if you would like to do a EMBA). Most full-time MBA courses take 1 or 2 years, and will require a lot of your time to study. You should also make sure that your financial situation allows you to study a MBA. Like most graduate and postgraduate courses there is some funding available (such as The MBA Loan Scheme financed by NatWest and administered by the AMBA) but you will also be expected to pay a certain amount of the fees yourself.

2. What kind of a basis do you want to study on? You need to decide whether you would like to work full- or part time. Most institutions like Ashridge Business School offer a full-time, 1 year MBA and a part time, 2 year MBA or EMBA, along with change management and leadership training. Many people, are on one hand ready to make the commitment to take an MBA course,but do not feel dare to take a break of one year from their career to focus entirely on studying. If you’d rather continue working whilst studying, then a part-time course may be better suited to your needs.

3. Where do you want to study? Though the MBA course originated in the US, it is now a popular option for businesspeople worldwide. You can either choose to do your MBA at a UK institution, or try one of the many MBA options available abroad. Check out FT.com for the global MBA rankings to see which courses are popular.