Plan B....???!!!????

[Darren_Test]

I come from quite a heavy academic background. I wouldn't advise just doing any old MBA, mainly because they aren't actually that well respected in the IT and services industry.

The real, valuable, MBA's are those demanding high fees at respected institutions with a long history. Yep, those well known ones that just popped into your head.

You'd be better concentrating on project management certifications, or if you desire, more technical skills.

An MSc would perhaps not be a bad idea if you have the money to get along whilst doing it, as that can actually be more respected by upper management in a position you're applying for than an MBA. It was MBA's and the structured teaching that could be said to have gotten certain businesses in America into trouble.

I know a few people without degrees in contracting who thought it would be a good idea, and it certainly is rewarding after the 3/4 years, depending on which UK country you live in, but most people would admit that at university you are learning how to learn and analyse information. So don't be expecting miracles in your job prospects as a result of doing one, and it requires dedication for a few years. It may even perhaps show a lack of direction on your part.

However, given some responses, I suspect you've already got academia coming out of your pores, so you probably already knew half of what I just wrote. I wouldn't rush into an MBA these days, unless you're entrepreneurial, as a final point.

Thanks..Not a big fan of MBA, but just thought productive use of time...

[larson]

I come from quite a heavy academic background. I wouldn't advise just doing any old MBA, mainly because they aren't actually that well respected in the IT and services industry.

The real, valuable, MBA's are those demanding high fees at respected institutions with a long history. Yep, those well known ones that just popped into your head.

You'd be better concentrating on project management certifications, or if you desire, more technical skills.

An MSc would perhaps not be a bad idea if you have the money to get along whilst doing it, as that can actually be more respected by upper management in a position you're applying for than an MBA. It was MBA's and the structured teaching that could be said to have gotten certain businesses in America into trouble.

I know a few people without degrees in contracting who thought it would be a good idea, and it certainly is rewarding after the 3/4 years, depending on which UK country you live in, but most people would admit that at university you are learning how to learn and analyse information. So don't be expecting miracles in your job prospects as a result of doing one, and it requires dedication for a few years. It may even perhaps show a lack of direction on your part.

However, given some responses, I suspect you've already got academia coming out of your pores, so you probably already knew half of what I just wrote. I wouldn't rush into an MBA these days, unless you're entrepreneurial, as a final point.

[lje]

doing an IT start-up is completely different from the skills you'd be taught on an MBA.

I guess that depends on the type of MBA. I did a general MBA which gave me a basic knowledge of a wide range of stuff, some of which could be useful for an IT startup, such as accounting, corporate finance and business strategy. As with any of these things it also depends on the person, their attitude to doing the MBA and what they take away from it. I don't think I would run things in a hugely different way now but I do have a lot more tools to choose from.

My worry is will this be the end for contracting...??

I don't think so. Once the economy picks up again I expect it to continue as before.

I'd say do the MBA or a Phd because you want to.

Exactly. In the UK an MBA is not going to get you a job (although it won't do any harm). Do it if you are interested in doing it and maybe changing career afterwards. It is unlikely to be a good financial investment on its own.

[nomadd]

Thanks...

My worry is will this be the end for contracting...??
Now lot many contract jobs are advertised as Fixed term contracts ..ie Permie salary but no Permie benefits, more over all of these so called first tier recruiters have setup their own consulting companies say Hays/Capita etc & started employing people in those arms rather than recruiting contractors. So I doubt contracting never will be the same again..??

Except it's mental in Banking at the mo., and good rates too. I've got back into that side of things over the last 2-3 years, after giving the MBA/Phd thing a huge amount of thought. From a purely financial point of view, I'm glad I "wasted" my time where I did (lower paid contracts, building up my banking skills) as it's kept me in contracting. Longer term, who knows?

I'd say do the MBA or a Phd because you want to. I personally know quite a few people who've gone the MBA route thinking it would improve their employment prospects and it's done nothing of the sort. As ever, nothing in life is guaranteed.

Just my two cents.

Nomadd

[Darren_Test]

Don't lose hope, market is definitely improving. Come Mar/Apr next year, the situation will change a lot. Remember, we are experiencing worst time in last 400 years (proof BoE interest). So, things can only improve now.

Thanks...

My worry is will this be the end for contracting...??
Now lot many contract jobs are advertised as Fixed term contracts ..ie Permie salary but no Permie benefits, more over all of these so called first tier recruiters have setup their own consulting companies say Hays/Capita etc & started employing people in those arms rather than recruiting contractors. So I doubt contracting never will be the same again..??

[jim2406]

MBA is also good if you try to set up your business.

not 100% sure about this - i guess it depends on the business.

doing an IT start-up is completely different from the skills you'd be taught on an MBA.

i am saying this having been through a (now successful) start-up with an ex blue-chip director-level guy with an MBA. the student, everyone chips in, regular late nights, living on pot noodles.. mindset was actually more useful to us!

for a non-IT start-up an MBA may be a lot more useful.

[DimPrawn]

It must be a laugh down the Job Centre.

"Qualifications?"

Err, MBA, Phd, Msc, Bsc,...

[mobi]

Ok, suppose 1 yr down the line you have done an MBA (so spent another £30k or so as you didn't work in this time).

Suppose, you are still not getting a good job.

What will you do then?

Now try doing the same now....

In good times, a lot of companies used to sponsor their candidates for part time MBA. If situation improves, that time will come back in few years time...

Don't lose hope, market is definitely improving. Come Mar/Apr next year, the situation will change a lot. Remember, we are experiencing worst time in last 400 years (proof BoE interest). So, things can only improve now.

[Darren_Test]

I asked for prospectus from Warwick Business Schools for MBA course.Two things mentioned there put me off outright.
1. After having MBA one can expect salary rise up to 16% only.

Well.. something is better than nothing...Not expecting a jump in salary, but donot want to waste another year searching Jobserve & receiving nonsense calls from pimps.

2. The companies who come on campus include Tata, Tech Mahindra, Wipro, Infosys etc.So, if you are thinking of doing MBA and stay in IT, then forget it.

[/I]

Well again ..its the question of survival for me now..I am ready to take job any where & move to a better company as things settle...even in Royal mail as long as they keep me untill end of this thin period & not asking me to do heavy lifting..!!. Recently I tried to jump in to Permie wagon, after 5+ years as contractor no one want to consider me for a permie job, even if I was asking lesser salary...! I recently applied for a Testing perm job with 26-30k salary...!!

However, if you want to change track like moving to hardcore finance or strategic consultancy then you may have a point.

[/I]

I was looking only MBA in IT managemnet...Not finance...After 12 years in IT I donot understand anything other than that. I donot want to get trainee job in finance after MBA..!!

[mobi]

But you will meet a lot of other people doing the MBA who could make a difference to your future opportunities.

Exactly! That's the real advantage of MBA. It will just open a lot more avenues for you. You may not get rich in monetary terms but your intellectual potential will grow to a great extent.

MBA is also good if you try to set up your business.

[lje]

I took last year out to do a full time MBA. I'm contracting right now whilst I wait for the permie market to pick up again so that I can get the type of job I want. (Probably - I'm thinking about other things to use my company for too.)

Don't do an MBA because you think it'll help with contracting - but if you're looking for a change in career or doing it for interests sake then go for it. In the UK you're unlikely to get a job just because you have an MBA. But you will meet a lot of other people doing the MBA who could make a difference to your future opportunities.

It's a lot of hard work though - be warned...

[VectraMan]

Why not start a baby sitting business?

[mobi]

I asked for prospectus from Warwick Business Schools for MBA course.

Two things mentioned there put me off outright.

1. After having MBA one can expect salary rise up to 16% only.
2. The companies who come on campus include Tata, Tech Mahindra, Wipro, Infosys etc.

So, if you are thinking of doing MBA and stay in IT, then forget it.

However, if you want to change track like moving to hardcore finance or strategic consultancy then you may have a point.

But again, those who are offered really good positions after finishing MBA, are those who were already running their own established business or already worked in investment banks for several years.

If you think MBA = higher salary, then welcome to real world.

On a positive side, if you get an MBA from a good UK university and willing to relocate to middle east (UAE etc.) or far east (India, Thailand etc.) then you can be confident of getting a high position + high salary (local standard).

PS: Above rules are applicable even if you do your course from London Business School or Oxford etc.

[Darren_Test]

As contract market seems to be going from bad to worst I am getting paranoid & bored being a baby sitter...!! Looking at plan-B after getting all possible/worthless certifications (spent £2000+ for that)...I think there may be 2 options to consider in next few months..

A. Some kind of website development & can put that in CV as working for
that..May cost less that £200 for domain & other stuff for 3-4 years.

B. Going back to College, spend £40k+ & get a full time MBA/any other masters & hope for a campus recruitment in 2011/12...

Any one here have any other suggestion/options in mind..? I am feeling worthless after 6 months in bench..!!

Thanks.