I'm looking for some advice please regarding MBA choice, applications and career strategy from someone who knows the MBA market well.
My background, UK born and raised, have worked in academia all my life, Computer Science background, degree from a world leading university, MSc, PhD. Decent publication record, international links including through paid speaking engagements. Experience with several side businesses, as well as consultancy work.
In recent years, have moved away from working with students and doing things I love into a management role. I've exceeded targets, brought income into the universities I work for and developed my marketing skills substantially in the process. But I miss technology and working with software startups (I've positioned many students into startups, including some that have since been acquired and always regretted not giving that career path a go myself) . I can code well, although I'm a bit rusty with the most recent technologies. But my real interest is in the business side.
I need to make a career move and the question at the age of 40 is whether to continue on the academic path or make a career change. My heart tells me its the right time to give the MBA a go and subsequently move either into tech consulting, work with startups or become a founder.
If possible, I'd like to study a full-time MBA in the United States. I'm single and able to be mobile. Otherwise, I could study within the UK. I'd also consider Europe and other countries if the financial return looks reasonable. The two year length of most US MBAs is a bit of a barrier but it would be workable for the right opportunities.
It's very important for me to get contacts and opportunities through the MBA, so I'm not keen on an executive MBA, a part time MBA or anything taken online.
I went in blind to the Economist mock GMAT and got a predicted score of 660 to 690. Much stronger on the quants (glad to find the maths and logic is still filed away at the back of my brain somewhere - I've always specialised in stats, even within CS). I rather rushed through the questions as a late night test and can see some obvious errors looking afterwards that I can fix quickly.
I currently work an intense job, so I have to be strategic with GMAT preparation and make considered applications where I have a good chance of being accepted (and I also have to be mindful of the cost of applications). I'm anticipating having much more free time in March 2018 and could start an MBA anytime after that, but that would be late to put applications in.
I'm also moving from a UK academic position. Even at a senior level, this isn't well-paid. Let's say I could pull together around $40K to invest, which I appreciate wouldn't go far. I'd preferably be looking for some financial support, but I'd consider taking out a loan. Due to the costs and time factor, I'm willing to trade off aiming for an elite school for somewhere that would offer a good financial return based on where I'm at and where I want to get to.
So, some questions:
1. GMAT. I have the option to schedule that in asap, aim for a 650 and put in early applications? Is that sensible? If not, I could push to a 700 by November, or higher if I wait until 2018. What's the best time straegy?
2. Any recommended schools, based on my tech interests (and the fact I'd need to leave time to sort a visa)?
I'm particularly interested in tech, but also enjoy entrepreneurship and marketing.
I really like the look of the Tech MBAs at Johnson Cornell and NYU Stern, but they're both premium priced and the student outcomes aren't too clear. But if anyone can vouch for those, or suggest any alternative courses, that would be useful too.
Thanks in advance for any thoughts or ideas.