UK Study Advice

Karan Gupta, published in rediff.com

Joseph Wharton founded America's first business school at the University of Pennsylvania in 1881. Realising the need for specialised business courses, the UK government set up the London Business School and Manchester Business School in 1964.

Since then, the MBA degree has become the most sought after degree worldwide.

Is an MBA right for you?

The US, Canadian and Australian MBAs are traditionally a two-year curriculum (although you can find one year options as well), with an optional internship position in summer.

European and UK MBA schools, on the other hand, usually follow a one-year curriculum (although you can find two year options as well) and require candidates to have many years of work experience before they can be admitted.

The MBA Center defines the MBA as 'an education based on insight into the fundamental concepts of management and the know-how to relate them to the broader, international picture.'

Most Indian students want to pursue an MBA straight after graduation. The Indian system of education encourages students to complete their bachelor's and master's degrees before starting to work somewhere. However, the rest of the world does not agree with this straightforward policy.

The US, UK, Canadian, Australian and European business schools insist on significant work experience after graduation. Global business schools require a minimum of three years of work experience.

Some students view the MBA degree as a way to switch their career paths. Students who have worked in health care, computer firms, engineering firms and so on opt for an MBA degree so that they can achieve a managerial position in their field.

For instance, if you are a software developer and have worked for years developing software and now want a managerial position, then an MBA would be ideal for you.

Paul Danos, dean of Dartmouth College in the US told the Financial Times (US), 'The MBA is the most remarkable step-up mechanism ever invented. Business schools take people of infinite variety and give them a tremendous platform for opportunity. If you do well, the opportunities are fabulous. For a 25- or a 30-year-old, it's a great way to change your life. There aren't too many mechanisms around which allow that.'

Possession of an MBA degree would indicate to your prospective employer that you have the skills required to be successful in any business -- you would be able to manage and lead teams, have time management skills and so on.

An MBA would challenge you and at the same time it would be an enjoyable learning process for you.

But, before deciding to pursue an MBA, ask yourself if you really need this degree. Make sure you know what your career goals are and examine if this degree will really help you achieve what you want. Once you have your career goals outlined, deciding on the country where you want to pursue your degree will become easier.

Says Harshad Gupta, an alumnus of Baruch College, City University of New York, "I decided on the US for an MBA because I wanted to work for a few years and gain international work experience before I come back to my home country. Initially, I was not sure if I wanted to give up my existing job and bang my head over tons of books. But, over the past years, I have grown as a person and have learnt valuable business concepts."

If you want to work in the country where you have pursued your MBA, then the US would be the best option for you. Your F-1 visa allows you to work for one year after graduation after which you can switch to a work permit (H-1) valid for three years. This work permit can be renewed once, which makes the total validity six years. No other country has such flexible work regulations.

The UK has programmes such as the Training and Work Experience Scheme (TWES) and the Highly Skilled Migrant Programme (HSMP). These programmes may allow international students to work in the UK after they complete their MBA degree.

Canada allows students to work for one year after they complete their MBA. If you have a job offer after graduation, the Canadian government will have no problem giving you a work permit and eventually permanent residency.

Is it cheaper to study in Australia?

Australia has the most rigid work permit regulations as compared to the US, UK and Canada. However, the Australian government now issues work permits for MBA graduates who have job offers and who manage to earn enough 'points' on the point system for work permits.

The point system in Australia is calculated for non-Australian individuals who are planning on applying for residency in the country by taking into consideration certain factors such as skill level, age, English language ability, specific work experience, Australian qualifications, and so on. It is necessary to have sufficient points to reach the 'pass mark' at the time your application is evaluated. The pass mark and its qualifiers vary according to the requirements of the Australian job market.

These nations have relative strengths and weaknesses as destinations for international study. The only way to navigate this decision, therefore, is to consider your individual circumstances and aspirations.

Sandeep’s story

Sandeep Shah will pursue his MBA at the University of Chicago.

'Teamwork, leadership and analytical abilities are what I will gain from the University of Chicago. With 35% international students, my education at UC will be invaluable.' says Sandeep.

He, like many other students, is now in the process of deciding which school to attend.

If you find yourself in the same situation, think carefully. Your two or four year tuition investment and time are at stake. It's in your best interest to review certain criteria before finalising on your school of choice.

Self-analysis

One of the most important things you can do is self-analysis. After determining what skills you want to develop, ask yourself the following:

Is the length and program structure right for me?
Is the course content what I am looking for? (area of specialisation)
Will this program help me achieve my career objectives?
Will I get a good job?
Is this program ranked and accredited?

Many MBA programs are geared towards general management while others offer specialisations in finance, accounting, international business and so on. Skills and knowledge of the business world are constantly changing and hence it's better to opt for a program which regularly updates its courses and curriculum.

The teaching method adopted by the school is also an important factor to consider. Know the difference between the case-study approach and the 'theoretical' approach. Some MBA programmes have intensive tests while others do not have tests at all.

Many students prefer torture to weekly tests. Says Dartmouth College's business school, 'At Tuck, our approach is innovative yet practical. The curriculum is as flexible as it is focused. Our faculty of respected scholars is accessible, involved, and dedicated to teaching. Our students are bright, accomplished, diverse, and down-to-earth.'

Even MBA programme directors expect students to be focused in their career goals and know what they want from the MBA programme. 'We are looking for students who know what their career goals are.' says Stephen Chambers, Oxford University.

A word about rankings

There are several rankings such as ReportED, Financial Times, Wall Street Journal and so on. While students can consult these rankings while deciding on their MBA programmes, it is worthwhile to note that rankings should be used as a subjective criterion and should not be used as an ultimate measure of whether or not to attend a business school.

To find more information on the programme, go straight to the horse's mouth. Query alumni and students currently at your prospective university about the programme you are interested in.

Thesis or work experience?

Many MBA programmes require a major paper, called a thesis. This paper ascertains that you have an accepted level of mastery of your field. Some programmes offer the option of an internship and thesis.

Check to see if your MBA programme has a thesis or internship requirement and whether it allows you the flexibility to choose between the two. If you have less work experience, you may just want an MBA programme that allows and requires an internship.

'I am looking for a part-time MBA as I don't want to quit my job in this economy. I need a weekend programme or a programme that allows maximum flexibility in terms of time commitment. Hence, Arizona State University is my best bet' says Mohit Bhatia, an engineer at Honeywell [Get Quote] International, Arizona.

Narrow down your career choices and be sure that you know which industry you would like to work in. Be practical and ask yourself if you can afford the two year investment and remember that you will be losing your earnings for the two years that you are studying at a business school.

How do I choose my MBA programme?

There is no right or wrong answer to this question. There are many factors to consider in selecting an MBA programme, but your primary consideration should be how well it fits your needs and aspirations.

Don't just be intrigued by the three mystical letters ? M, B and A. Know why you want to pursue an MBA degree, what your career goals are and whether a particular MBA programme will help you achieve them or not.

You are about to embark on a path which will change your life. Choose your path wisely.

Case studies

Case 1

Sandeep Agarwal was a successful doctor in India. When he was 42, he decided he wanted to change his life. So he took his GMAT and scored an amazing 770. He was deciding between the US, UK and Canada and applied to B-schools in all these countries. He did not apply to Australian Business School for personal reasons.

Sandeep got admission in many B-schools, but eventually chose the US. He got admission in Northwestern University (Kellogg Business School) and decided to go there to pursue his MBA. Sandeep wanted to work in the country where he pursued his MBA and hence decided against the UK. He did not want to go to Canada because of the slow economy and hence decided to attend Northwestern. Today, Sandeep is a successful financial analyst in Morgan and Stanley in New York.

Another factor to consider is the length of the MBA programme. If you have sufficient years of work experience and wish to get back to your business quickly, then you may want to consider the UK or Europe. The one-year MBA curriculum is extremely demanding and students are expected to work more than 10 hours a day to be successful in the one-year MBA programme.

Case 2

Kunal Mehta has a successful diamond business in India. He is a commerce graduate and worked in his family business for five years before deciding he needed an MBA degree. He felt his business knowledge was extremely restricted and hence he needed formal business skills to expand and diversify his family business.

An MBA was the ideal choice for Kunal.

However, Kunal wanted an MBA degree which was 'quick' because he wanted to get back to his business as soon as possible. Also, he did not have a 16^th year of education (the bachelor of commerce degree is a three year degree, hence Kunal had 15 years of education. Most US and Canadian B-schools require students to have 16 years of education).

The best option for Kunal was to pursue an MBA degree in the UK or Australia (both the countries require only 15 years of education). Since Kunal wanted a shorter MBA duration, he eventually chose the UK. He completed his MBA degree in general management in one year and is now back in India diversifying his family business.

Case 3

Raj Talreja did not have sufficient funding to pursue his MBA degree. He completed his bachelor of engineering degree and worked as a software engineer for three years.

Raj now wanted a managerial position and he felt an MBA would help him get there. Money was a very strong criterion for Raj and he had to choose an MBA programme that did not empty his wallet.

Raj decided against a one-year MBA as he has no prior business knowledge; he realised that a two-year curriculum would give him a better understanding of business. Hence, he decided to apply to Canada and Australia.

Raj got into top B-schools in both the countries but was not keen on Australia because of the difficulty in getting jobs once you graduate. He chose Canada as his destination. Canadian B-schools were not very expensive and he could work in Canada after pursuing his MBA degree. Today, Raj is a Canadian citizen and works for a large multinational software firm.

Carefully study the course content of business schools before making your decision, as some students prefer the case-study methodology as compared to group exercises. US and Canadian business schools tend to lean towards the case-study approach whereas UK and Australian B-schools tend to lay more emphasis on real-life situations and group activities.

Case 4

Nitish Shah worked in his steel factory. He had a successful business but regretted not having enough business skills to globalise the business. He decided an MBA would be ideal for him.

Nitish was a science graduate and had completed his bachelor of science degree. He wanted an MBA programme that was two years in duration. He also wanted an MBA programme that would use real-life examples as a teaching method.

Nitish was not in favour of the case study approach so he decided that he would not apply to the US or Canada. The UK was out because Nitish wanted a two-year MBA curriculum.

When he looked at Australian B-schools, he realised Australia was the best bet for him. Nitish completed his MBA degree at the University of Sydney and has now expanded his steel business to various parts of Asia.

With an increasing demand for international managers, the global future of the MBA looks bright. As Andrew MacDonald, head of APESMA Management Education, Australia puts it, "Management is where the dollars are, and an MBA is the key to getting into management".

Don't let your age deter you from applying to B-Schools -- whether you're in your mid-twenties, thirties or forties and want to change your career, go for it. The most difficult part of an MBA is deciding to go ahead with the MBA.

Once you have carefully evaluated all your options, done a thorough research on your career goals and aspirations and looked into your wallet, you are ready to board the MBA train to your dream destination.

Want comment contact Karan: kgc@karangupta.com