Dear Sir or Madame,
An MBA at your institution is very expensive. What is the justification for such high tuition fees, especially in relation to the cost of the specialised MSc programmes at your university (which, I expect, deliver a similar standard of teaching)? Under which circumstances does it make sense to spend so much money for an MBA?
Thank you for your reply.
Answer from Cambridge:
Thank you for your question,
I think if you look at the prices other top MBA schools charge for their MBAs, you will find that we are all pretty much on par. Take a look at Oxford, London Business School, Cranfield, INSEAD, IMD, and top 30 US schools.
It is true that specialised Masters at our university are cheaper. At present there is a university regulation which does not allow us to raise the fees for these programmes. You are correct about the standard of teaching, our lecturers in the specialised masters also teach into the MBA.
The costing reflects the market...... other schools charge a premium for the qualification and so do we.
As to whether the cost is worth it, this is something you need to judge for yourself. Certainly there are many gains from an MBA, salary is one of them but there is also knowledge, networks, experience etc.
If you are weighing up whether to take a specialist Masters ( our MPhils) or an MBA, then you need to understand that they are fundamentaly different things. The MPHILs provide in depth knowledge in a particular field at a much more theoretical level , preparing you for a PhD and an academic career. An MBA is a broad and generalist degree providing a solid grounding in the full range of management skills. It is highly practial preparing you to go back into the workforce with more skills.
I hope that this has been useful.
Answer from Cranfield:
I think you will find that the fees for our MBA programme are comparable with those of the top European MBA programmes. In the FT and Forbes rankings we always score highly for value for money, and our full-time MBAs reckon to get payback on their investment within 2-3 years of graduation.
Yes, our specialist masters programmes are taught by the faculty who teach on the MBA, but there are 675 teaching contact hours on the one-year MBA and only 350 on the one-year masters programmes. The MBA covers many more core subjects and offers a broader learning experience than the MSc programmes.
Answer from Oxford:
In answer to your query:
1.It is not especially expensive at Oxford relative to similar calibre one year MBA degrees (cf Insead).
2. Good MBAs are costly to deliver, with a large number of core and elective courses and projects, high calibre teaching and considerable support mechanisms, including placement. A major business school thus needs a large infrastructure of facilities (includng in our case state of the art lecture theatres and library with much IT resource), faculty and administration. Much of the course material is included in the fee. A one year MSc requires far less faculty time and other support than an MBA degree.
3. The broad learning, extensive network, and future career opportunities provided by an MBA are in the judgement of those who take the course, sufficient to justify the cost.
Also, our students get access to the top practitioners in their field and unique events like the world forum on social entrepreneurship.
Answer from Ashridge:
Thank you for your enquiry. The fee for our MBA Programmem is £29,500 which is inclusive of all teaching, learning materials, project supervision, photocopying, food during modules, international module air fares accommodation and food. Ashridge offers a tailored MBA experience taught in small classes with each participant enjoying the one to one supervision of a member of faculty for the duration of the programme.
I think if you add up all additional expenses incurred on most MBAs, you will find that our price is less expensive in the long run !