Sunday Business Post - Recruitment Section - 14 Jan 2007
There are many options for Irish professionals wishing to pursue an MBA here and abroad, writes Dermot Corrigan
In Ireland, all the main third level institutions, including University College Dublin; Trinity College Dublin; University College Cork; University of Limerick and the National College of Ireland, Galway, run Masters in Business Administration (MBA) and Executive Masters in Business Administration (EMBA) courses.
According toNick Barniville, MBA Programme Director at the UCD Michael Smurfit School of Business in Dublin, the best option for each candidate depends on their individual aims and circumstances.
“Different people have different goals for their MBAs,” said Barniville. “The main reason to do an MBA in Ireland is that the way business works here is so highly networked,” said Barniville. “One of the things that is different about Irish programmes is that there is more industry interaction.”
Irish students can also opt to study overseas in the US, Canada or Australia. Many EU countries offer MBA and EMBA courses tailored to the needs of international students, with English as the language of tuition.
“Getting international experience can only help someone in terms of getting a job, and in terms of having an exposure to the kinds of markets they will be dealing with in the future,” said Boris Porkovich, MBA director of the International University of Monaco.
“I think it is very important for people to study internationally is that in order to progress in any job now, everyone needs to understand clearly and carefully the differences that they will encounter. People need to actually know how to manipulate those differences in order to create better market opportunities for their companies.”
MBA programmes typically last for between one and two years, while EMBA courses are usually two year programmes.
Students on EMBA courses are more likely to remain working, and study by block release, where they take attend classes during a set number of weeks spread throughout the year. MBA programmes are usually, but not always, taught on a full-time basis from 9AM to 5PM on weekdays.
However, for candidates keen to add an international dimension to their career, there are definite advantages to studying abroad.
“If you are looking to have an international career, there is a big advantage in going to a school which has an international presence and having an international brand recognition,” said Arnold Longboy, Director of Corporate Relations and Recruitment with the Chicago Graduate School of Business – Europe Campus.
“One thing about doing an international programme is that usually the people you are studying with too tend to be much more international, so you will actually learn a lot more just by being with these students on the programme. Here in London we have forty different nationalities and you learn directly from the people from those cultures, as opposed to from a professor who has studied doing business in a different culture.”
The delivery methods and timetables of international MBA programmes at European and US universities are often designed with the requirements of international students in mind.
“75% of students taking our EMBA in London actually fly in from outside of the UK to participate in it,” said Longboy “About 80% are either Western, Eastern or Central European, then the rest come from the Middle East and Africa.”
One obvious consideration for potential MBA students is cost. Tuition fees for MBA programmes are typically higher than for other postgraduate courses. The fees for the full-time MBA Programme at Smurfit Business School for 2006-2007 are €26,700.
Barniville said that most students see the costs as an investment, considering the potential for improved earning potential following graduation. He said that the UCD fees compare favourably with international competitors such as the Saïd Business School in Oxford, Judge Business School in Cambridge, Rotterdam School of Management, and the Bocconi University School of Management in Italy.
There also lots of ancillary costs involved in travelling abroad to study, as well as potential difficulties involving family or social life.
Porkovich said MBA programmes differed from country to country. He said the US style is focused on intensive learning and is very practically oriented, while the European model tends to be less intensive and more academic.
Students can compare MBA programmes by using one of the four major international MBA rankings systems, published annually by the Financial Times, Business Week magazine, the Economist Intelligence Unit and the Wall Street Journal.
Some business schools in particular locations concentrate on particular areas. For example the International University of Monaco focuses on wealth and asset management, entrepreneurship and luxury services.
Longboy said some students opted for an international programme to smooth their transition to work in a new country.
“Our campus is right in the heart of the financial district, and some people take this programme because they may eventually want to have a career here in London, especially in finance,” he said.
Irish institutions are introducing programmes in areas in which they have specific advantages or competencies.
“We are probably going to see more niche MBAs coming onto the market,” said Barniville. “UCD have introduced an MBA in Health Services Management and we are looking at developing an MBA together with the Institute of Bankers in Financial Services and Regulatory Compliance.”
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