MBA decisions advise
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22 Dec 2014, 07:19
Hi everyone,
I am looking for a some advise on how to best proceed in finding a quality part-time MBA program to start in Fall '15 which doesn't break the bank.
A weekend program where I get face-to-face experience (e.g., weekend executive MBA) would be awesome. There doesn't appear to be a great, affordable, program within reasonable distance. There is a risk if my employer asks me to move, but best case scenario is a school which would then let me move over to an online program in that situation.
Alternatively, I would still enjoy and learn well from an MBA online.
Background:
Located in Roanoke, VA.
3 years working experience (4 years by start of MBA) at a large energy company gaining technical, leadership, and a little project management experience.
While working - enrolled in MSEE at Virginia Tech, completing May '15 (~3.8 GPA if relevant).
GRE taken for MSEE, 167Q 155V (comparison tool says 680 GMAT equivalent).
Will be sitting for my Professional Engineering Examination in October 2015.
I can only afford a program limit of ~$30k-40k, longer program is easier on my financials.
Why I want an MBA:
Although I enjoy the technical aspect of my job, I prefer leadership opportunities - leading teams and supporting team members to drive larger projects completion. An MBA will improve my leadership and business knowledge to have a greater understanding of 'the big picture' when asked for business decisions (i.e., product innovation, R&D) and improving my soft skills for people issues. I will also be better qualified/prepared/marketed for a future transition into management, long term goal is upper management. My primary focus of the MBA is not to leave my current company, but to rise in the ranks. That being said, not everyone works for the same company their entire career, so I could be working for a new company in the future.
Schools I am looking at:
Indiana University - Would need at least $20k scholarship, not sure if my credentials warrant such merit based support.
UNC Chapel Hill - Would need a substantial scholarship. This is a great school, and I would be ready and willing to drive for their weekend MBA (although I would be 1 year short of their 5 years exp requirement) or attend their online MBA.
NC State University - Doesn't appear to have any scholarships and their price is slightly out of my range. They accept up to 12 credits transferred, if I attend a more affordable school for 12 credits and transfer I am back in my budget (risky plan).
UNebraska or UMass Amherst - These appear to be the best schools available within my price range.
Warwick - Got the idea from this board. Would this be accepted as easy as one from the US? Could it be a better thing to differentiate me?
Questions I have:
As I am not looking for a huge change from this program, rather a more successful long career move, is the extra cost of the best programs warranted?
How do I best improve my chances for the scholarships I would need? Should I take the GMAT instead of using my previously taken GRE scores?
Thank you in advance for your help.