MBA, UCT or Stellenbosch?, Is it worth it?, Is there demand in job market? Salary?

[FibreOptic]

So i am thinking of doing an MBA but as you may know it is extremely expensive so I am considering my options.

Firstly which MBA, I could either go for the UCT MBA or the Stellenbosch MBA, from your experience and if you have completed which do you think is the preferred option and why?

Secondly what is the demand like for people in the local job market, Cape Town specifically as I would not like to move, for people with MBA's?

Thirdly once qualified what are the expected Salaries for MBA graduates?

 

[Cassady]

Subscribed.

 

[saturnz]

UCT UCT UCT UCT

GIBS is also good but UCT consistently ranks as one of the top schools globally, its executive MBA programme is in the top 50 in the world according to The Economist (was in one of the latest editions). There is a write up on MBAs in this weeks Financial Mail that answers your question with respect to salary expectations etc.

By the way there is a conversation going on for the past few years about the relevance of MBAs so this may be something you wish to think about as well. This is also touched upon in the latest Financial Mail.

 

[proxilin]

I don't think it matters, they are both good, and it would depend on your preferences. Both are triple accredited http://en.wikipedia.org/wiki/Triple_accreditation

Location may matter to you (especially if doing it full time).

I've spoken to someone who did an MBA at Stellenbosch, who's girlfriend did the MBA at UCT at the same time. He said what he found is that the UCT course was more about the content, while the Stellenbosch one was more about the application. He mentioned the Financial Accounting module specifically, saying the UCT one went into more depth w.r.t the accounting, whilst at Stellenbosch they did the basics and then looked at the application and how it ties in to everything.

I would choose Stellenbosch for the above reason, but I also realise that on a CV going out into the world, University of Cape Town might sound better than University of Stellenbosch, for the simple reason that the name Cape Town is recognised all over the world.

Also, where do you do your undergraduate? There is a myth (true or not?) that it looks better if you attend different institutions for education, rather than sticking to one.

I'm also looking at doing an MBA with one of these in the near future

 

[FibreOptic]

I don't think it matters, they are both good, and it would depend on your preferences. Both are triple accredited http://en.wikipedia.org/wiki/Triple_accreditation

I would choose Stellenbosch for the above reason, but I also realise that on a CV going out into the world, University of Cape Town might sound better than University of Stellenbosch, for the simple reason that the name Cape Town is recognised all over the world.

I am also strongly considering Stellenbosch because I am working Full Time so will only be able to fit in the part time MBA and UCT does not have the part time option.

 

[MKFrost]

If you are looking for global recognition then definitely UCT. Nothing wrong with the Stellenbosch one, I actually think it might even be a bit more hands on, but in so far as the international recognition is concerned I will go with UCT.

 

[proxilin]

If you are looking for global recognition then definitely UCT. Nothing wrong with the Stellenbosch one, I actually think it might even be a bit more hands on, but in so far as the international recognition is concerned I will go with UCT.

I agree, it's not right but I think it's the way it is. If I go to Stellenbosch I will definitely put in brackets (Triple accredited by AMBA, EQUIS and AACSB) behind the name. I think that'll cover you.

I am also strongly considering Stellenbosch because I am working Full Time so will only be able to fit in the part time MBA and UCT does not have the part time option.

Both have Modular formats (block weeks). Stellies is the only one with the Part time option (Friday evenings and Saturday mornings). Either way it's a lot of work, you will not have a life for 2-3 years. No weekends or evenings to yourself. Just be aware of this before you start.

For the above reason I want to do it full time, but I need to save for a couple more years. Biggest disadvantage with full time is that you are unemployed once you are finished.

Another note, I originally looked at an MBA to change career paths. I've since come to realise that this is naive. You should do it because you want to. It won't hurt you, but I doubt it's going to change your life in the way I originally hoped. It's a very nice to have, a box to tick, but make sure your career is set up with or without it. The MBA can help you change paths/fields/responsibilities in the future, but it won't be the sole catalyst.

That being said I love the content of an MBA, if my future job could revolve around the subject matter I'd be in heaven. That's why I want to do it, regardless of whether it's going to make me in demand/rich.

MBA sets you up well with a career change to finance/banks/investments though.

 

[saturnz]

Stellenbosch ranked beyind UCT by quite a bit according to the FM survey.

As for UCT focusing on accounting, it may be they went into further depth because the UCT accounting programe is very strong, as well as their economics programe.

I may be extremely biased when it comes to UCT, simply because I did three degrees there and simply walked into a job with no job experience or any formal recruitment process. That was six years ago and next year I can and will be retiring.

Also do not forget about networking, this plays an extremely important role in an MBA programme. If everyone you may have to interact with in the future goes to UCT then it may not be in your interest to go to Stellies and vice versa ofcourse.

 

[Gnarls]

Subbed. Been thinking seriously about forgoing my honours and just getting the work experience and cash and then doing an MBA. Like the OP, I'd also like to know what they roi would be.

cheers

 

[saturnz]

according to this week's FM article pay grew by between 10-40% PA.

an MBA basically just teaches you to make executive decisions (decision making framework) in a commercial environment, atleast that is my understanding of an MBA

 

[saturnz]

I will try to find the article I read in the Economist, but MBA graduates are not that sought after internationally anymore. They are described as expensive and out of touch with the management realities a company faces in today's uncertain world.

 

[FibreOptic]

That was six years ago and next year I can and will be retiring.

Sir, you must be in a very lucrative field if you can afford to retire after 6 years.

 

[saturnz]

Sir, you must be in a very lucrative field if you can afford to retire after 6 years.

Not really, it is easy to think I must be super rich etc but my goals, outlook on life etc are significantly different to most people I come across.

Once you change one or two things in your decision making process things become a lot easier and clearer, but thats a topic for a totally different discussion

Nevertheless my recommendation is to do an MBA at UCT, it is worth it although I recognise and acknowledge the arguments the other users put forward.

I forgot to add that their open day was two weeks ago, I think they are having another one next month, but not for the MBA course.

 

[FibreOptic]

according to this week's FM article pay grew by between 10-40% PA.

10% to 40% lol. Not much of a jump. You could probably get that increase by doing a Masters in something instead of the MBA which would work out much cheaper.

 

[saturnz]

10% to 40% lol. Not much of a jump. You could probably get that increase by doing a Masters in something instead of the MBA which would work out much cheaper.

It does depend on your base salary though, 10% of R1m is R100 000 which in absolute terms is quite a bit.

Read the article, I briefly glanced the tables and in absolute terms I see increases of R100k to R1m.

Personally my view is if its just financial reward you are seeking, consider the CA conversion course. If you wish to develop yourself further then consider doing a masters degree.

 

[OMB]

I think you need to decide where you want to be in the future, if the intention is to remain in corporate employment then the MBA may provide you with a short term advantage, but any MBA over 6 years old is past its sell-by date (the world of work is very dynamic these days).

Since I left corporate life 8 years ago I really can't say if having studied an MBA was really worth it.

Personally I seldom see MBA's being applied much in the real world of work, and I've seen guys with MBA's make as big a stuff up as guys without.

 

[FibreOptic]

but any MBA over 6 years old is past its sell-by date (the world of work is very dynamic these days).

Yes, but your qualifications irrespective of when they were obtained will always be on your CV and most likely count in your favour.

 

[OMB]

Yes, but your qualifications irrespective of when they were obtained will always be on your CV and most likely count in your favour.

like I said, depends where you want to be in the future

to me a degree proves nothing more than the candidate has the ability to study which would indicate a certain degree of commitment (and the ability to read ), track record of achievements is far more telling

 

[proxilin]

Yes, but your qualifications irrespective of when they were obtained will always be on your CV and most likely count in your favour.

like I said, depends where you want to be in the future

to me a degree proves nothing more than the candidate has the ability to study which would indicate a certain degree of commitment (and the ability to read ), track record of achievements is far more telling

I agree with you both. A degree merely gets your foot in the door, and therefore it doesn't hurt to have them on your CV. Noone needs an MBA, unlike other degrees (doctor/lawyer/accountant) that you need to get the work. MBA is a nice to have that demonstrates that you have interest and knowledge of how a business functions. I think it's very good to have for people who have purely technical undergraduates. But no, I don't think it will suddenly have everyone falling at your feet, and no, it won't see your job offers or paychecks increase 3 fold immediately.

OP, what are your reasons for considering it?

 

[saturnz]

Noone needs an MBA, unlike other degrees (doctor/lawyer/accountant) that you need to get the work. MBA is a nice to have that demonstrates that you have interest and knowledge of how a business functions.

Like I said previously, an MBA in my view should be about assisting a decision maker in making executive (and not operational) decisions in an uncertain environment, knowing how a business works (operational) is neither here or there, CAs know how business works as well but they struggle to make strategic decisions nevertheless.