Salesians Life Choices to Offer New Low-Cost MBA
Salesian Life Choices, in partnership with Tom Ryan, co-designer of the renowned UCT Graduate School of Business’ pioneering executive MBA, is offering a master’s degree in business administration — an MBA opportunity at a fraction of the cost of a standard MBA.
Research shows that MBA graduates earn close to double that of their peers. However, the option of taking on an MBA seemed available only to the few who could afford it. Mr Ryan believes this can be changed.
“I was inspired by the story of Laurie Pickard. In 2013, Laurie needed a business education to move forward in her career, but after researching the options, she was unconvinced that an investment of her life savings in a traditional MBA would pay off,” he said.
“She thought there might be another way and with the help of free online courses from the world’s top universities, she began her self-taught journey. She documented her noble experience on her blog, No-Pay MBA, so that others could learn from her — and the public quest went viral. When I read about her experience I knew it could be replicated and even improved in South Africa.”
Salesian Life Choices
Mr Ryan began conceptualising what a low-cost MBA would look like and soon approached Salesian Life Choices, a Catholic non-profit organisation, to partner with him.
Life Choices managing director Sofia Neves said when they heard of the concept of the No-Pay MBA, they knew they wanted to be part of it.
“Our mission as an organisation is to tackle inequality and this concept excited us. The fact that only a few can afford the exorbitant fees required to pursue an MBA feels unethical. Business skills are a scarcity, but they are essential to support South Africa’s economic growth — something we are in desperate need of.”
The No-Pay MBA uses blended learning. Students watch online lectures, collaborate in online discussions, carry out research at home, and then once a week engage in peer-learning in the classroom with the guidance of an expert.
“The programme welcomes people from different fields, and no background knowledge is required,” Mr Ryan said.
“However, preference is given to candidates with some management experience. The course is ideally suited to those looking to change careers, start a business or just get better in their profession.”
The 100-week programme demands ten hours of commitment per week — seven hours of self-study and three hours in meet-ups. It will start in May.
“We have begun our recruitment and anyone can join the open days before the closing date on May 14,” Ms Neves said.
“The programme will be piloted in Cape Town and the weekly meet-ups will happen after hours at our academy in the southern suburbs. The aim is to accommodate working professionals as much as we can.”
The cost for the two-year programme is R38000 and there are several payment options.
“Five scholarships will be offered. The aim is to push boundaries and align the programme with how modern education should be: dynamic and equitable,” said Ms Neves.
For more information contact Matt Fisher 021 696 4157 or e-mail email@example.com