Part time MBA
A Masters in Business Administration (MBA) is one of the best business degrees to positively impact on career and salary prospects. An MBA can be obtained as its own broad qualification, or, with chosen business specialism's such as Finance MBA, Accounting MBA, Human resources MBA, Marketing MBA etc. Many institutions will have reputations for their specialist areas and this should be heavily considered when choosing where to apply for study.
Choosing to start working towards a Masters degree and subsequently achieving it, can be rewarding both personally and professionally, showing evidence of the individual's specialist knowledge and commitment in their chosen subject area. For a high number of people embarking on their MBA journey, the option of full time education is not available due to work, monetary or family commitments, and quite often, all three. A convenient way for students to still achieve their desire to obtain an MBA is to study part time, which allows a more flexible approach to their learning. Many different approaches are available from weekday, weekend and online/distance study options being offered by many business schools and universities.
The advantage of part time study is that it can be, more easily, carried out alongside a career and family life. The costs can also be spread out over a longer time period and although certain sacrifices will have to be made to allow focus on achieving the qualification, the nature of part time study being spread out can usually means the course can be completed without huge impacts on their existing lifestyle. It is common for employers to encourage their staff to develop and will often offer support, both financial and time, during their employees study. This is especially the case in larger companies and worth discussing with your line manager if you are considering beginning a course.
The biggest disadvantage of part time study is usually the time involved with courses taking up to three times longer than their full time alternative. Additionally, part time courses may end up costing slightly more than tackling the course in one go. However, when considering the loss of income through a year out of work and the advantages of part time study, as mentioned above, these negative factors may be outweighed.
Entry, application and cost
Academically, to embark on an MBA you will need an undergraduate degree or an equivalent professional qualification. Additionally, some institutions will require a minimum of 3 years work experience. For non English speaking applicants, a minimum score of 7 in IELTS is required. The majority of applications involve writing a statement as to why you wish to study an MBA and what your objectives are for the future. Often, if successful, a face to face interview will be arranged before being entered into the course.
Costs vary considerably depending on the institution and for part time study can range from approx £8,000 - £40,000. Often the cost is spread out across the study period and in some cases, you can pay for one or two modules at a time. In many cases there is funding available, from sponsorship to grants. Additionally, many employers offer financial support to assist in the development of their staff.
Where to study a part time MBA.
The following institutions and business schools all offer part time MBAs. For application, visit the website, check specific entry requirements and complete the online application form.
London School of Business and Finance
Established in London, offering both Part time and Online MBA courses ranging from 2 to 5 years.
Warwick Business School
Located in Warwick, offering part time and online MBA courses with flexible duration lengths.
Manchester University Business School
Situated in Manchester, offering part time MBA courses in Global, Finance, Engineering and Project Management from 2.5-5 years in duration.
The Open University Business School
The UK's leading distance learning university is highly ranked in the MBA providers list. The course duration is 3 years and payment is structured around each module.
Oxford University Said Business School
Offering an Executive MBA part time course over 21 months, this top ranked business school, located in Oxford, is world renowned.