Debunking MBA myths
Undertaking an MBA can be daunting, especially if you’ve never studied before. Despite new research showing that MBA graduates are in high demand, many potential MBA students still have concerns about embarking on a new academic journey.
At the Australian Institute of Business (AIB), we offer the Fast-Track MBA – a 100% online program that will provide you with the business and leadership skills you need to thrive in your career. With a strong industry focus, our MBA equips you with contemporary leadership and management knowledge that can be immediately applied in your business and workplace as you progress in your studies.
So what are the biggest myths surrounding MBAs? Read on to discover the truth behind one of the world’s most popular management qualifications.
You need a degree to apply for an MBA
False. You can apply for and complete an MBA at AIB without a degree or tertiary education of any kind. That’s because your work experience may meet the admission criteria to qualify for an MBA.
According to AIB’s Course Advisor (CA) Trevor Mann, “about half of all AIB’s MBA students don’t have a degree. One of the strengths of our MBA is that it’s delivered with a practical focus, so the need for an undergraduate degree isn’t there.”
Trevor explains that applicants don’t need a business background to be successful MBA students. “People can utilise their experience base significantly. They actually increase their return on investment because they can relate their learning with their own knowledge. That’s how students are able to create great ideas and boost their learning.”
What are the entry requirements if you don’t have a degree?
There are two ways to apply for our MBA – through academic achievement or managerial experience. Applicants need at least five years of management experience in order to be eligible.
“It doesn’t have to be through a people leadership role. It can be project-based,” Trevor explains. “That means your experience doesn’t have to be title-based. It can be based on what you actually did for the company, rather than the official role you were given.”
The application process is confusing
Not at all. According to Trevor, applying for an AIB MBA is easy and doesn’t take much of your time. “The application process is very straightforward and only takes about 30 minutes.”
You will need to provide simple documents such as your passport and resume. For those who have studied before, a transcript is ideal. And for those without a prior degree, you’ll need to send references.
Once you’ve submitted your paperwork, a dedicated CA will call you to discuss the next steps.
“I call as many students as I can – but I’m not interested in rushing through the conversation,” says Trevor. “This is my chance to understand you. My aim is to give you perspective on what studying an MBA is like and give you confidence.”
After your phone call, your CA will send your application to the Admissions Team. “There are certain roadblocks when it gets to this stage,” Trevor mentions. “Not having enough managerial experience, for example. Or poor English skills. But most people who are eligible will be accepted into the MBA.”
High-quality MBAs are expensive and unaffordable
Worrying about expenses and money while studying shouldn’t hold you back from achieving your career goals. At AIB, we’re committed to keeping education affordable, so you can pay back your course fees and see a return on your investment faster.
While other online MBAs in Australia charge up to $50,000-$100,000, AIB offers one of the most affordable MBAs in the country. That’s because we don’t need to maintain any campuses or lecture theatres – meaning that you won’t pay for things you don’t need. Instead, we ensure your MBA fees are properly invested in quality education, academic teams, student support services and innovative technological advancements.
Can I apply for FEE-HELP?
AIB is an approved FEE-HELP provider. Our customised MBA FEE-HELP Calculator will help you determine how FEE-HELP might impact your finances – including your total fee debt, your weekly take-home pay and how long your repayments will last.
You can’t study and work at the same time
By the time potential students have built up enough work experience to consider an MBA, their professional and personal life is at their busiest. And for many people, spending time away from their family is non-negotiable.
“The vast majority of AIB’s MBA students have families,” Trevor states. “My philosophy is that family comes first. Thankfully, our MBA program is geared towards making your professional goals possible around your family life. Our program works around you – everything’s online, allowing you to study and succeed without impacting your everyday life.”
That’s why AIB provides a flexible MBA program that fits into your lifestyle. “At AIB, we take the ‘staged’ approach and offer a nest of qualifications – such as a Graduate Certificate in Management, a Graduate Diploma in Management and a Master of Business Administration. This means you can study in chunks or subjects – and I find that students think that eight months is far more palatable than two years.”
All 12 subjects are required to complete the MBA, but we understand that life can get in the way. Therefore if you need to take a break or leave the MBA program early, you can still achieve a postgraduate qualification.
Our MBA course material is available online at all times, so you can access it whenever you need it. We even offer monthly start dates so you can enrol at a time that suits you.
There’s no support when you study for an MBA
Not true. At AIB, we offer many kinds of support – academic and personal.
“The support is extensive,” Trevor elaborates. “People think that they’re on their own because it’s an online program. I tell them that it’s delivered online, but the support isn’t absent. Every subject has a dedicated Online Learning Facilitator that they can contact anytime for help and guidance. All our facilitators are qualified lecturers and experienced leaders in their industry.”
AIB also offers welling support through Converge International – an Employee Assistance Program (EAP). Completely free of charge, our EAP is available for both AIB staff and students. It even provides help with a variety of work-related and personal problems, giving you access to qualified professionals – such as psychologists, social workers and management support counsellors.
Learn more about our well-being resources.
By debunking these MBA myths, we hope to encourage you to accelerate your career and take the next step. Delivered online with continual updates, innovations and new releases, the Fast-Track MBA offers genuine flexibility, industry insights, practical skills and the support you need to achieve your goals in our fast-changing world. It’s created for people just like you. Find out more about our flexible, online MBA program.