MBA with Specialisations
Tailor your degree, create your career with this MBA for early to mid-career professionals
Focus on the future of work with this intensive 1-year MBA for aspiring business leaders
MBA in Entrepreneurship
Develop your start-up idea with this intensive 1-year MBA for entrepreneurs and innovators
The highest achievement in business education, with a strong cohort of experienced leaders
Well, good evening, everyone. And thank you for joining us today for a webinar where we're going to be taking you through the various MBA options available at UTS Business School. Firstly, I would like to acknowledge the Gadigal people of the Eora nation upon whose ancestral lands our City Campus now stands. I would also like to pay my respects to the elders both past and present, acknowledging them as the traditional custodians for knowledge for this place. Now, just quickly, before we get started, I would like to bring your attention to the fact that we will be recording tonight's session. So to make it publicly available later on, so if you're asking questions throughout and everything, we're not necessarily going to be referring to you by name, but the questions that you ask will be answered. And those answers will be made publicly available and shared. But you will remain anonymous as attendees. So who do we have chatting with you this evening. So tonight, my name is John Elliott, actually, my name is John Elliott every night, but I'm fortunate enough to be the Marketing Communications Manager for UTS Business School. And we have a stellar cast of panelists joining me this evening, we have Dr. Helen Spiropoulos, who's the director of the MBA, the classic MBA with specializations, Associate Professor Jochen Schweitzer, who's the director of the MBA in Entrepreneurship, Associate Professor Natalia Nikolova, who's the director of the Advanced MBA, and Dr. Mel Edwards, who's the director of the Executive MBA, so all four of our MBAs are well, well represented here this evening.
Now, what we're going to be covering off is each of those MBAs in a little bit of detail, then sort of do a wrap up of the differences and similarities between those different programs. And then we'll be opening it up to Q&A. So that's your opportunity to ask us questions. It's very rare that you're going to get four MBA directors in the one room or in the one webinar. So we'd love to answer as many questions as we can. And to do so you should be able to see the Q&A feature on your zoom box. If you've got a question about a specific programs, don't necessarily wait until the Q&A session at the end. If it's quite pertinent, I might interrupted the presenters and see if I can get their thoughts on that straight away. Otherwise, we'll get to it in the Q&A section at the end. But please do ask us questions. Because that's sort of what makes tonight live. Now, I just thought I'd do a little bit of coverage of COVID-19. And I just like to share with you the response that UTS has had with it, because obviously, we've been fully supporting government's efforts to slow down the spread of COVID-19 and introduce social distancing measures. And that has meant that most of our classes have been taught online in the Autumn semester, with some of those classes being moving to a sort of a blended option for Spring session. So just rest assured that we have, you know, we've sort of been taking it pretty seriously and we'll be endeavoring to support you as we go forward. Um, if you've got questions about the Coronavirus, and the way it's impacting students, there is a portal that you can go to but just quickly, just a quick question to our panelists. How have you sort of adapted to, how do you see the learning taking place in sort of Summer, in Spring, Autumn next year?
Well, John, it depends, of course, on what the government regulations are, but so far, we do have a mix of online learning for those students that prefer to do their learning well socially distanced, and we do have some on campus activities, so workshops and interactive seminars, that we've carefully made sure the rooms are spaced one and a half meters apart. And lots of extra cleaning and hand sanitizer is provided for those that do want to come on campus. So we are being very safe as well as offering students the option on they want to do.
My answer is to this John, it's very similar for the Advanced MBA. We did transition to fully online teaching in March when there was a total lockdown. But since August, we have went back to selective face to face and online teaching, and this is based on the students requests. So we have a lot of sessions on Saturday because it is designed for, for professionals who work full time. And those sessions are taking place face to face. Whereas we are keeping the Friday sessions to zoom. And we also have designed a number of interactive online self paced modules for students to go through content and tools and concepts. But keeping the face to face sessions for the real value at interactive collaborating work practices, where it really makes sense actually, to be together in the classroom.
John, and everyone, for the MBA in Entrepreneurship, pretty much the same picture, we have three subjects that we taught in September in the curriculum, and two of which were completely delivered, or currently are delivered completely online. And one of which we do a blended approach where we still have Saturday, some we have three of those or have three of those and this session, where we come together and observing those social distancing measures that Helen just spoke about earlier, which worked actually quite well. So and we even had people in a mixed approach, zooming into some of these sessions as well, which is a little bit difficult to facilitate as an educator, sometimes, but it works. And I think we've done the best we can in the situation.
Just on this we've actually had a question come in which I'd normally wait to the end, but because it's quite pertinent to what we've discussed. We've had a question about when we return to the new normal, whatever that might look, might be, and classes. Do you think like next year, I'm going again, crystal balling here, and let's assume we've found a, you know, COVID gone away, or we've got some form of vaccine or something like that, do you think we'll continue face to face with online? Or do you see that blend continuing into the future?
I'm still unmuted so I'm going to respond quickly to this. So even before COVID, we had the option to do a lot of content online, we before that, toward in a blended approach where you would engage with most of the material online before you come to class. So that flexibility has been there before. Only that I think, for the class, face to face class time, we would have intensively discussed the content and did engage in exercises and case study and so on. And so much of that flexibility will retain as we go back to the new normal, but really good question. I do foresee that we'll probably have more online possibilities and ability going forward.
Alrighty, so let's um, let's get to looking into the programs then, we're going to start with the specializations. So, Helen, talk to us some about the MBA. I mean, it's the MBA in general has been going for like 100 years or more now, and the way UTS has been going since before we were actually UTS, so yes, the MBA is still a relevant and respected qualification. What do you think people invest in an MBA?
Yeah, definitely, John, MBAs are still the number one respected degree in business, and they're often required to secure a management position. The reason is because employers know that an MBA covers the fundamental business topics, including accounting, economics, management, marketing, and finance to name the basics. So the two most common students I find when I teach in the MBA are the career changers, looking to switch careers, and the leadership role seeker. So those looking to move into a leadership position within their current organization or industry.
Excellent. At UTS, what are the options that are available within the MBA that you look after?
So at UTS, we have the entire MBA, which consists of 16 subjects, and is usually two years of full time study, or four years of part time study. But this can be accelerated by taking subjects over summer, which we do offer. Now, the other entry path is a Graduate Diploma. So that's an entry path for those who don't previously have a business degree as a background. It comprises five of the six core subjects plus three electives. So that's a total of eight subjects, which would be one year of full time study. The third pathway in would be a Graduate Certificate. So that would be the entry path for those that haven't undertaken business studies previously, but you may have a lot of business experience. So it comprises four of the six core subjects. And that would be equivalent to half a year full time study. So if you don't commit to the entire MBA, you can start off with the Grad Certificate, and then build it into a Grad Diploma, and then build it into the Masters of Business Administration.
And once you do those, you don't need to, like you don't need to redo those subjects once you've done them in the Grad Cert. So they're done, you can just take them into the Grad Dip and Masters?
Yep, definitely. You will get recognition of prior learning and your graded marks will be transferred over to your transcript, that's not an issue at all.
Excellent. So, who is the UTS MBA designed for?
The MBA is designed for anyone looking to switch into a career in business or to step into a leadership role in their chosen area. So a point of fact, actually, I was reading an article that the Graduate Management Admission Council, so they surveyed MBA alumni, and 93% said they would still do an MBA all over again, knowing what they know, today. So I've taught a range of professionals from varying backgrounds, some include IT and Communications, New South Wales Health, I've actually taught a lot of people from New South Wales Health, people working in government, a lot of accountants or auditors from the Big Four auditing firms down the road, investment bankers and even automobile sales persons actually looking to move into management positions within a company.
So it really does cover a broad spectrum. And as you said before, you don't need a, like a business degree. Like if you've got an engineering or science degree or something that's okay too?
100%. We teach, the core subjects are taught assuming no prior knowledge. So if that's the great thing about an MBA, you really do get a well rounded understanding of how business works from all the angles, which is really good. So I've taught one of my students, I remember him clearly he was he worked in medical imaging, so like, you know, X ray place, and had no idea about any type of business and was doing an MBA, and he thoroughly enjoyed it. And he was doing it obviously, for a career change.
Alrighty, so the MBA that's been around for quite a while has had a little bit of a facelift in, for commencing in 2021. Do you want to talk to us how this the new structure of this works?
Yeah, definitely. So we spoke to a lot of our MBA students and the new structures based on what they asked us for and what they saw was valuable. So out of the 16 subjects, six core subjects, and the remainder can be used to suit what you want to get out of it. So if you want to specialize, you can choose to do a major. And then you can choose to do a sub major and electives. If you want a more generalist sort of approach, you can choose to do two sub majors, or a sub major and another six electives from a huge pool of electives that we have available, and they don't necessarily have to be from within business. So this really allows you to tailor the degree to suit your needs and wants, and it also allows you to build in an internship into the program. So if you score an internship down the road with one of the companies you want to work for, we can factor that into your elective block.
That's excellent. And the core subjects, you mentioned, they sort of they take you through the basics. I think these are the six core subjects here, talk us through these.
Yep, so Leading People and Change is a management subject and it covers topics such as how to facilitate individual and collective efforts, as well as leading transformational change. And you can imagine that to become very important during periods of uncertainty and change, which we experienced from COVID. We also have marketing so Marketing Decision Making, which essentially covers how to make effective decisions in a competitive market using research marketing strategies and tactics for profit as well as non for profit organizations. And then we have some accounting. So Accounting and Financial Reports teaches students how to understand and interpret accounting information to support your decision making within business. So you're not necessarily training to be an accountant, though you can if you want to specialize in that area. But this will actually give you the basics on how to understand the information to make those critical decisions. Economics for Management covers micro and macro economics and you know just how important those two topics are, and Financial Management covers the analytical skills to make informed financial decisions. The sixth subject is what we call our capstone subject, and capstone meaning, it ties in all the knowledge, you would have learned through the other five core subjects, as well as essentially any of the other subjects you've done in the MBA. So you'll actually complete the sixth one in your final, your final year of your MBA. And basically, it teaches you how to pull in all the knowledge you've gathered to make effective strategies in your business, how your decisions will affect your strategy, and analyzing what makes a strategy successful and why some strategies don't work.
And in terms of the specialisations, there's a pretty broad range that people can choose from.
Definitely, so you can see them on the screen in front of you. Some of our popular ones that have been growing in the last five years is Supply Chain Management, a very hot topic now, especially looking at sustainability in supply chain and green packaging. Finance is very popular, Professional Accounting, and Technology Management and Information Technology. So there's literally a whole bunch you can choose from. And if you go to the handbook on our website, you can also have a look at the sub majors that we offer.
And do people need to know what majors, that when they're when they're choosing to do the MBA, do they need to say I want to do the MBA with a major in, you know, Human Resource Management? Or can they decide that later?
Yeah, not at all, you can focus on completing your core subjects first. So the five core subjects, and then you can choose your major up until the point you need to begin it. So basically, if you're doing this as a full time study, you would choose your major or sub major in the second half of that year. If you're doing it part time, you could have a whole year before you have to choose. So you do have a lot of time in place.
And if you choose to do a major and then decide that you want to change it to a sub major or vice versa. You can, as long as you've done the requisite within those, can that happen as well.
Yeah, if you've chosen, let's say you've chosen to do a major and you've done two of those subjects out of the six. And then you decide I don't really want to do this, I want to switch it to a sub major and electives. Well, you could get recognition of prior learning for those two subjects as two of your electives. Or if you want to do a sub major in the same area, those two subjects will count towards the sub major. So it's pretty easy to shift and move them across.
It sounds really flexible. And a lot of people, if they're not 100% sure what they want to do that flexibility is is great.
Definitely. And that's what we found that our students wanted, not only our students, but our business advisors. So people from practice that we consult on our degrees said, yeah, we want the MBA to cover those business fundamentals, but also have scope for people to specialize in the areas that they're seeking to gain employment in. So that's what we have now with our MBA.
Alrighty, well, Helen, we'll come back to you with the Q&A section. But thank you so much for your time so far. And now what we're going to do is, we're going to chat with Jochen, regarding the MBA in Entrepreneurship. So, Jochen, talk us through this exciting one, this program.
Hello. Thanks, John. So yes, so you just heard from Helen, that you have this tremendous choice when you start in the MBA. The MBA in Entrepreneurship is sort of the opposite. Because there's nine subjects and that's it. There's nothing else, there's no electives. But I'll tell you what this is for, this degree is built and designed for people who are interested in starting their own business, or their own venture. So we're looking at people who are coming into this program with a business idea or venture ideas, or this could be anything around starting that project that you always had on your list. Tech venture, a social venture, even a small business, or also, I guess, if you are continuing or getting into a business that is small, and you really want to know and understand how you can grow that business to scale. So what you're looking at here is subjects that we teach in one year intensive. So we're teaching in Autumn, Spring and Summer. And each of these columns that you're looking at at the moment, represents one of those sessions. So starting with our autumn program, three subjects, the Startup Finance and Accounting subject, Startup Data Marketing and Sales. And these are little smaller boxes because they are six credit point units. So normal subject size, and then Opportunity Commercialisation as a double unit of twelve credit points. The difference between these two types of subjects is that the six credit point units are MBA basics, basically, as they apply to entrepreneurship or to starting a business. And Opportunity Commercialisation in this session would be the one where we intensively apply the knowledge to your startup idea. So one big feature of this program is that you bring in your own idea into this program, and we work with you on your venture through these subjects. So you have always an opportunity to apply the knowledge directly to your startup into your context. So moving on, going from Autumn to Spring session. The second block here is then again, how to scale and grow a team and an organization. And then also, Startups Structures IP and Negotiation, the subject we learn some legal requirements to start a business and actually get going registering the company and get going. Entrepreneurship and Innovation Practice is a subject where we give people a taste of what startups might feel and look like two or three years down the track. So we're working with startups in Sydney, and students in groups would work on a consulting project to these startups. So do these companies dealing with issues like you know, scaling into a new market or reviewing features of products and services, to innovate and to make them better and make them ready for the next step. And then going into the Summer term, so for this year, starting soon in November. Three more subjects, again, Founder at Heart, really dipping into finding out whether you're in it for the right reason, entrepreneurship is not everybody's game. And here, we're really trying to help you if you you're in it, for the right reason, talking about resilience, talking about different approaches to how you can be an entrepreneur, in different scenarios in social ventures, and tech ventures and not for profit ventures. And finding out, you know, what your taste of that would would look like, Venture Growth and Internationalization looks at growing internationally. We in Australia, we always have to think about operating beyond our borders, and there's much to be learned about that. And then finally, Venture Planning and Pitching, which works like an accelerator program. So the last couple of months then of this program. This is the capstone where you bring everything together into one big, great proposal piece. Every year in mid February, we present to the world our Venture Day. And that concludes your program.
One of the question that always comes up is about duration. Many students in the program, take an approach where they stretch it over two years, some even longer than that. So that will just reduce your study load. So there's always a study path, and we will discuss it with me as he enter the program.
John, you asked some nice questions, what are your questions?
I do have, I've got a couple of questions for you, one from the audience, which is, do you need to have an idea in mind when you're about to take on the MBAe? Like do you, do sort of, do I need to have my idea all set?
Yes, it's a great question. And yes and no. So we would like you to have a definite idea. And that might be just enough to see what can be developed. And also they might have to change slightly. And that's perfectly fine. That's part of the program for you to find out about that. But part of the process of entering the program is certainly to to come in with an idea, something that you want to develop.
And another question we often get is, so people can start if they wanted to, they could start this Summer and go straight into the the Venture Acceleration Startup part of the program, can they do that? How would that work?
So we we admit people in every session. So if you wanted to start this program with us in Summer that's possible, I would discuss with you whether or not it makes sense to take the full load and go with all three subjects, or whether it's better to take the two core subjects first. So Founder at Heart and Venture Growth and Internationalisation and then leave the Accelerator program for a little bit later. It really depends a little bit on a level of experience, I guess, and also how far your ideas already developed. But by all means, yes, we take we take people on in Summer, and that will be just a conversation with me.
Now, we know that it's done over 12 months, and you did mention that people can do it over two years. But if you do, do it over 12 months, can you still work and and study at the same time? Or do you have to, is it one of those sort of MBAs where you got to pretty much put everything else in life on hold and commit to doing this?
A good question. Look, it's designed for full time study. But it's also designed so that you can, because all the classes are in the evening or on the weekends. It's designed for people who also work, we realize that obviously that's a reality. And in fact, a good 80% of our students have full time work, some sort of commitments. So was being active here, if you do it full time as possible, and just designed that you can do it.
And is there, there's a lot of talk about the startup community at UTS. Is there a, how big is that, at UTS?
Yeah, look. So really over the last year, UTS has invested a lot in how we help entrepreneurs and student entrepreneurs, not just at UTS but way beyond UTS. So I think by now it's fair to say that the UTS startups, the UTS student entrepreneurship community is one of the biggest, if not the biggest one in Australia, and UTS offers the most support that you would find, more than you would find in any other Sydney based University. So a couple of things, really. One is UTS startups, obviously, which is a university wide program and community that helps you find, you know, support. The MBA in Entrepreneurship itself is there as a support in itself, because the curriculum helps you really to accelerate, thinking and get you going. But there's this great, huge benefit of the wider community. We have core curricular activities, master classes, mentor sessions, pitch pitch training. And so it really, you can get really, really busy and dipping into this effort as you do startups awards, and lots of really great programs going on.
And there are a lot of prizes available as part of the the venture planning and pitching on that final pitch day. But I hear there's a new scholarship as well.
So I was super excited to have women in entrepreneurship, female entrepreneurship scholarships available, we're going to be starting to promote that I think, within the next couple of weeks. It's a $25,000 scholarship towards studying this degree, this is pretty much half the student fees. So if you're a female aspiring entrepreneur, look out for this scholarship coming around and put in your application. Because that's just an amazing feature of this program to have this scholarship available. And also because you said that UTS has Venture Day, which I talked about briefly earlier, this year, it had over $85,000 of awards.
That was cash incentives, and to have this through the program, by winning some of these awards, which is really amazing. So it helps them to to fund their studies. Plus you also of course, support startups.
All right. Well, thank you, Jochen, we'll come back to you again, I'm sure with some questions at the end. But so if you've got more questions about the MBA in Entrepreneurship, fire them through and we'll talk more about that in a moment. But now, we're gonna talk about the Advanced MBA, which is our newest MBA offering with Natalia. So, Natalia, over to you, talk us through this exciting program.
Thanks, John. Um, so the Advanced MBA is similar to the MBA in Entrepreneurship, it's designed as a one year program. So it is especially designed for busy professionals who are seeking to accelerate their career. And would like to do so in a short amount of time, just because they're not sure what they might be doing in two years time. And they are, they have a window of opportunity. This might be particularly relevant right now, where when a lot of people have reduced hours due to COVID to consider doing a program like this, because it does, it starts at the end of January every year. And it's the students have finished by the end of November. So the fact it's even not a full year. And the way the program runs is that most of the sessions, as I mentioned earlier, runs on Saturday, so they're 26 Saturdays spread throughout the year. And they're also 13 Fridays. So we have a detailed calendar published on the website, if you Google UTS Advanced MBA, you'll be able to access a dedicated website with lots of additional information about the program, we have the videos with the academics, with industry partners, the calendar, and a lot of other information about every subject. So you can actually read a lot more about the program there. But this program in terms of what it focuses on, it's really designed to develop people's or candidates, future so called future work skills, or transdisciplinary skills or evergreen skills, they've got seven different names, but it really focuses on skills such as problem solving, critical thinking, communication, collaboration, developing one's leadership capabilities in the context of digital transformation. So as a difference to the MBA, our traditional MBA, we also focus on developing deep expertise in any of the special business disciplines like accounting, finance, marketing, HR, and so on, we do cover these topics, but we cover them into smaller three credit point subjects that run for about a month and are completed within six weeks. But the real focus of the program or the heart of the program are the three studios, which you can see on the screen, the three big black circles. So the Discovery, Design and Delivery. These studios, we call them studios, because students have the opportunity to apply what they're learning in the other subjects as well. So prior knowledge and skills on solving or addressing complex challenges. So the first is about Discovery so how do you discover complex challenges? How do you understand trends? How do you think about the future? But also thinking how do you work with external partners, topics such as open innovation, and also has some digital labs where students are engaged in understanding key technological trends and the relevance for business such as AI, machine learning, Internet of Things, and so on. And then in the second and third studio, Design, and Delivery, students, we're working with an external client on a complex challenge that this client has brought as a defacto consulting project. And this is a very, very collaborative experience. And every team of students has a dedicated industry coach, who then support them throughout this experience in the design and delivery studios. Another key characteristic of the program is that we do work with a lot of industry partners, and we bring them to not just a guest session, but we bring them to design and facilitate workshops. So it is on the website again of the program, you can see some of the key partners in the program, but their companies such as Deloitte, Mercer, KPMG and we have also some smaller partners who are specialists in their area of expertise such as, for example, small companies focusing on diversity and inclusion consulting, Transition Hub, who's a specialist in developing people's transition skills, and so on. So there's a lot of information again on our partners on the website, where you can read about these different partnerships and where they contribute in the program. And in the last thing, in terms of subjects, I'd like to focus on here are the two leadership labs. And so there is a strong focus on developing participants leadership skills. And we do so in two applied labs. Leadership lab one, which focuses on self leadership, understanding oneself. And then leadership lab two, which is about leading innovation teams or teams that are responsible for digital transformation. So this is about how do you lead others to lead digital transformation.
Natalia, what sort of people choose to do the advanced MBA, like how would have advanced do you need to be within your career to do it?
Yeah, look, our admission criteria required is four years of work experience, however, over the two cohorts that we have had since the program started. So we have, we have the second cohort going to the program at the moment. We have seen that the majority of the students have over eight years of work experience. So it does attract a lot of candidates who are looking to, as I said, accelerate their careers, are looking to transition into more higher level roles, but also particularly candidates who are not satisfied with the status quo in their organizations and want to be change agents who are looking to upskill, especially with regards to digital transformation, and leading others to deliver on digital transformation. Candidates who want to also understand how technology is impacting business. So we do have a few subjects in the, as I said, the digital labs, the plugging and understanding of technology into this program. And many of the client projects we work on also have a technological element. So this is the type of candidates, something I'm very proud about is that we have had in both cohorts that gender balance, so 50/50. And we do have a very small number of international students, but it is mainly a local cohort of experienced local candidates.
And I know this is designed to be done over one year. But if people can people sort of stretch it out a bit longer if they need a bit more time, or do they have to, sort of, stick to that, sort of, 11 months?
No, we do have a two year option. And this option works in a number of different ways. So a candidate who wishes to stretch the program, because they might have, they might be worried that their work commitments will not allow them to attend all these sessions in one year, or just because their preference to take it in a slower pace, can actually stretch the program in a number of different ways. They can choose to take the first part of the program, which is also called Graduate Certificate in Business Practice, which consists of the full, you can see on the screen, blue subjects, which we call satellites, and the big Discovery studio and the first leadership lab. So this part of the program runs from January until about end of May and can be taken in year one, and the rest of the program can then be taken in year two, or there is also an option to take all the satellite subjects or the blue subjects in year one, and the studios in year two and leadership labs either in year one or two. So there's a number of different options how someone can actually take the program over two years.
And how many people roughly are we talking? Are you in a class with hundreds of people? Or is it a bit more select?
No, this is this is a targeted program. So we are not looking to have a large number of students. So we have an average about 25 students cohort. So definitely a program that is focusing very much on intensive interaction with all of the candidates. And as I said, in all the studios, there is a very intensive element of coaching and providing ongoing feedback to teams as they progress to the complex challenges they're working on. So we do need to keep the program smaller to be able to offer this very dedicated support to the candidates in the program.
All right, well, Natalia, thank you for that. And we'll come back to you in Q&A, I'm sure with some questions about the Advanced MBA, but for now, thank you. And we're going to move on to the Executive MBA, the fourth of our MBA programs with Mel. So hi, Mel.
Hi, John, how you doing?
Talk us through the Executive MBA, or as it seems to be, we'll probably never use those words 'Executive MBA', we'll just call it EMBA. From now on, what is it?
So the Executive MBA, or the EMBA, it's a boutique program, it's highly selective, it's targeted for an experienced set of people who are mid career predominantly, looking to accelerate their career up into those sort of senior management levels, we get a lot of people in the program who may have deep experience within a profession with a background that's more technical, you know, maybe in engineering or IT. And they're looking to kind of broaden out their view, so to speak, and sort of leverage their experience in, in that profession into more of a managerial capability across the division or a whole department or a whole organization. And yeah, a lot of the assessment work is therefore applied to your actual workplace. So we're working with those sort of theoretical concepts across a broad range of disciplines, but always in the context of how can I use this in my career in order to be able to sort of leverage up that next level.
Excellent, and how does the structure of the program work?
So basically, you might see a little bit in here reminiscent of the traditional MBA that we've just been through, in that it does cover the disciplinary foundations across marketing, finance, economics, accounting. But always we're looking at them in the context of, okay, so you understand the basic foundations, you're at a kind of threshold of those concepts, and then it's more around that application piece. So how can you apply this to either a live case study with bringing in guest speakers, or how can you think about the context of applying those basic concepts and frameworks to the current context of your workplace. And then we have another lot of subjects in there that are really more around the kind of competency, the leadership and management capabilities, and particularly looking at that sort of governance and senior management levels. So again, here, the sort of assessment components are related to doing, applying tools to some sort of analytical tool, you know, and if, for example, it might be around risk management and doing some sort of risk assessment of an organization and then identifying risks and being able to report those at a sort of board level, to create the case for some form of change, or some sort of, you know, transitional transformation strategy that might need to be implemented within the company. And then we've got another of another range of subjects similar to the two specialist MBA programs that we've just been talking about that are more, what we call experiential in application. And these are larger credit points subjects. One is really based around strategy. So you know, what do you understand in terms of strategic thinking in your career, so far, defining a kind of strategic project that you think needs to be undertaken, and then engaging in strategic conversations internally within your company in order to be able to pitch that up the levels is the first of those experiential subjects. The second one is, again, a similar type that you've heard just previously, where we do a live consultancy project. So it's about applying those tools and frameworks to somebody else's problem, if you like. And then the final one is okay, then repeating that process, but applying it to a mini project within your own workplaces, if you are a implementing some sort of transformational change project. And then sort of capping the beginning. And beginning of the program is a retreat. So another feature of this program is that we have residentials. And there, there's one set, I guess, more compulsory residential that's built in at the beginning, that's an opportunity for you to meet your cohort, we go off site. So we have a three night stay away, focused on leadership, focused on you trying to identify, you know, where you're up to in your career, and where do you want to go? And also, what do you hope to achieve out of a program of this kind. And then the second residential that we have comes about midway through your second year, which is the global business practicum, where we go overseas and inside companies, and you get a chance to ask questions, and do your own analysis of that company in relation to the global context.
You've touched on that just now, I guess, that didn't happen this year with COVID. I've spoken to a couple of Executive MBA students who have really been sort of adamant that this is like one of the highlights of the course.
Yeah, absolutely. Yeah, unfortunately for our graduating cohort this year, they're unable to do that. Because of our border restrictions. And, you know, there were, we've got an alternate available there. I'm hopeful that anyone who takes the course starting in 2021, by 2022, we will be traveling again. And that's the best advice that we receive. So I presume it will remain a feature.
So just like, I guess, summarizing the Executive MBA for us, we've sort of got a few things here. What sort of people, I mean, describe your typical, you sort of touched on it before, but what would make an ideal Executive MBA student?
Like, my advice is, come to the Executive MBA, when you're ready to take that next step, because a lot of the learning is applied. So that means you bring your experience into the classroom, you use the tools and frameworks in order to be able to shape your thinking, and then you're taking it back into the workplace. If you're really looking to leverage your career, come in at this point. So that you can use it as a sort of transformative experience to help you help you push yourself in your own career. I always like to think that executive level education and executive learning in general is not about catching up on the latest buzzwords, because you know, we know the internet's freely available. And you can access all of this, all of this some information that you need, it's about you learning how to think, for yourself, about yourself, in your own career. And so it's that sort of thinking and transformation process that you can engage in, in executive education. So yeah, the kinds of people we get, I mean, all kinds of people, we've got, the average age is about 38 currently, we've got people across every type of organization that you can can think of, from both private and public sector, small and large corporates, we've got a couple of people who are in their, set up their own enterprises as well. So they're looking at, you know, making sure they understand what they already know about their business and how to take their own business to scale it to the next level.
And if people have got a lot of experience, but no prior university degree, a lot of people in that sort of older age group maybe didn't go to university when they finished. Does the same thing apply with the Grad Certs as an entry point?
Sure, yeah, we've got the three subjects at the beginning of the program can act as a act as a certain level entry for people without a degree qualification, so long as you've got substantive, professional experience, and, you know, the program is interview selection only as well. So there's an opportunity in that interview, and to be able to demonstrate the kind of experience that you have in your career. And that's taking it through a different entry pathway.
Thank you for that. Alright, I'm just going to take us through summary of all of the the MBA options before we get into the Q&A section. So, just sort of taking what's been covered off and putting it all onto a couple of summary slides that might be useful for you. And if you find this, this format useful, if you go to the UTS MBA Options page, we do have a 'Which MBA is right for you' page, which pretty much has exactly this content on it as well. But you can see here the key features of the different MBAs, and Mel touched on something that was quite important, the MBA in Entrepreneurship, Advanced MBA and Executive MBA, in terms of entry, all require an interview with the program directors. And the reason for that is to make sure that not only that you're a fit for the program, but the program is right for you. And it's going to take you where you need to go. We don't want people in our programs that realize a third of the way through that it wasn't the right program for them. But you can see here that the core features of all of them, the MBA with specializations is pretty standard, that the big difference between that and the other ones is, and Jochen touched on this as well, is that it's got flexibility. You can choose your own adventure with this program. Whereas the others have that, sort of, fairly sort of defined program that takes you right through. Who it's for, really there's a bit of overlap here. We've never liked, sort of, you know, it's up to you to find the right MBA for you and you might find that you might be tossing up between two of these MBAs. And that's quite, two or three even. So, if you find yourself in that position, we're happy to sort of chat to you in more detail and work out which one might be the best fit for you. Because there isn't really at this point, a great deal of ease of transition from one MBA program to the next. So you want to make sure that you choose the right one for you. But you can see here that wherever you are, in your career, there's an MBA that's going to fit you, whether you're really senior, you've been in a managerial role for quite a number of years, or whether you're early in your career, there's going to be one of our MBAs that's right for you.
Looking through it, some other details of it, the MBA with specialisations, mainly evening classes, whereas as you heard from the other programs, there are a lot of intensives on weekends and that sort of thing. If weekends are no go for you, then probably the MBA with specialisations might be one for you. The duration, as we mentioned, it's a little bit flexible, all of our MBAs really importantly, allow you to work while you're studying. So you don't have to quit your jobs and, and do it, you can obviously quit your jobs. But you don't need to as part of part of doing the program. The number of subjects varies from nine through 16. The fees? The big question we get, these are the fees that if you started in 2020, they'll go up a little bit in 2021. But they're sort of indexed to inflation and inflation is not really going anywhere far. So it gives you an idea of the relative costs, the cost sort of commensurate with the length of the program. So you can see, the more subjects you do, the more expensive it becomes. And of course, when do you want to start your study, so the MBA with specializations you can start and with the MBA in Entrepreneurship, you can start in Summer, which actually for the MBA with specialisations that means November, so like late Spring, Autumn or Spring semesters. MBA in Entrepreneurship, Summer, Autumn, and Spring. The Advanced MBA starts in January, and the Executive MBA starts in February. The advanced MBA starts late January, so you don't need to sort of front up on the second of January, sort of bleary eyed or anything like that, and get a little bit of time in January to ease into the year. So before we go into to the Q&A session, one of the things I'd love to ask because I'm the marketing guy, and so I think everybody should come to UTS, now I've got a few suggestions over here. But I guess if we could combine two questions into one from each of you, why choose UTS for the MBA that they want to do? And also what's your top tip for me looking at doing an MBA next year. So who wants to go first? We'll start with you, Helen.
Yeah, kick it off. Okay, so why choose UTS? To me, it's pretty clear cut choice. We're right here in the heart of the CBD. So we're where the action happens. We're very well connected with the professional industries, regardless of which area you choose to specialize in, whether it be Entrepreneurship or MBA with specialisation, Advanced, Executive. So definitely, in my mind, that's a competitive advantage. And I guess, what was the second question, John?
Your top tip for somebody who's looking at doing an MBA, what would you, what bit of advice would you give them?
Get involved, definitely. One of the key things students come back and tell us is that the networks they create when they study an MBA, regardless which one you pick, is invaluable going forward in your career. Because think about it, you're in a classroom with another, you know, 20 to 30 people that are extremely intelligent and have a broad broad range of experience from different industries, different positions, different organizations, and just making those network connections are very valuable. So that would be my advice.
Yeah, I might jump in as well. So why UTS, as Helen said, one of our key strengths is that we are so well connected with industry. But just connected with industry is not making a huge difference. What we actually are known for and we have a very strong reputation is that we use these partnerships with industry to create really practice relevant, engaged learning experiences for students. So as I said, we're not just bringing industry to talk to you in a webinar or in a class session about what they know, we bring them because they engage with you in a much more interactive facilitated way, they coach you, they really work with you, in a very intensive way. So we are deleting the space and we are well known also for our expertise in designing this type of experiential learning. My key tip, well, plan ahead your time is, especially for the one year programs, like the Advanced MBA, and MBAe, but I actually have another tip that I think is more exciting. And this is, when you come to us be prepared to challenge everything. Because we work with students who have an open mind and who are willing to challenge their existing practices, they're even welcome to challenge us. And we take this feedback into, you know, we take it in a positive way, and we act upon it. But yeah, um, we want to work with people who have this attitude of let's make things better.
I just wanted to say everything Helen and Natalia said, so I really have to dig deep now. But look at it, we have a great campus, in the middle of the city, if you get to study at a at the Business School, that's the building where you'll be spending some time in assuming that COVID times will ease off in the next year or two, you will have plenty of opportunity to join us on campus. It's just an amazing environment to learn in, we have an amazing support system that goes beyond the classroom, the library's world class, I wish we had a photo of the library as well. So all these things matter, because they really help you to, you know, make this year this or these two years that you take to invest into your future, invest into your education, really special. So beyond networks and great classes and experiences, the campus life immersing yourself in that, you know, university is just really special. And my tip to you would be, I just knew it, and I just forgot it again. But Natalia said to really appreciate the time that you have with your peers, to also get into these networks. My tip would be to think about really how much time you have and make that time available for study, I think, and realize also that just giving it a go and starting something is a good start. Helen talked about the possibility to check out a Graduate Certificate first or dip your toe in a little bit. See if you like it. Even though our specialized programs have less choice within them, there's still a lot of flexibility in our programs as to how you can actually study them, you can stretch them over time. So even if you're not sure you're going to commit to a full MBA, you always have other options. And you know, checking out Graduate Certificates first, see if you like it.
So, how can I say anything that hasn't already been said? I'm like so impressed by my colleagues. And you know, the spirit and enthusiasm for the work that we do at UTS, which I wholeheartedly support. And I think the only thing I'd add to that at this point is just a bit of a reflection on the current context we're in. I know, it's difficult times for people at the moment. And you know, there's a lot of uncertainty that industry is facing, you probably experiencing this yourselves in your own lives, if not in the workplaces that you're in. And I think what better to prepare you for that then the kind of learning that we do in all of our MBA programs. Because it's a form of training that helps you think about how to make sense of that uncertainty, but not just sit around and say okay, well, we don't know what to do. We equip you with a set of tools and techniques that you need in order to be able to analyze, and take charge and take leadership around helping lead us out of the situation that we're currently in, in terms of economic recovery, but then you can also apply that to yourself, because there's also the sort of leadership and transformation piece sitting in the program that can help you to make sense of where you're going with your own career amidst all this uncertainty. So I think MBAs are more relevant now than ever. The business community needs to lead us out of this situation that we're currently in at the moment. My top tip then for, you know, being being you know, in a program of this kind of any of the ones that we've talked about this evening, is, yeah, similar to what my colleagues have said, make sure that you've got time to be able to put into it. I know you know, it's a great opportunity. And probably if you're coming to an MBA, then you're ambitious in the first place. But you really need to give yourself permission to take some time out of what you're doing in the rest of the other avenues of your life. And I know particularly that's the case for people choosing an Executive MBA, where often because of the age group that people are in, you're often you know, juggling many things in your life. And study is not just something that's handed to you, I think sometimes people think I'm going to come earn myself a degree and you know, tick that box, but it's something you need to actually set time aside. So it's like taking up you know, if you've ever taken up a new hobbies or in our sporting activity, studies a bit like that. So I think a close colleague of mine that teaches in the program says it takes 10,000 hours to master something to be able to do it really, really well. So if you're not ready, and you don't have that time, and I shouldn't be saying this, because I know my sales guys, they're just saying, Hello, but, you know, make sure it, make sure you can set those hours aside.
Now, I think that's a really good point, Mel. I've met hundreds of MBA students, but I've only ever met one MBA student who's done more than one MBA. So you're only gonna do it once. So make sure it's the right one. And at the right time, if you don't do it too late, you don't want to put it off to the point where you're now regretting that you didn't do it earlier and everything. But you also don't want to rush in and sort of just do it because you want to have it done. You want to make sure it's at the right time for you professionally. Absolutely. I'm conscious that we're actually running a little bit over time, but we do have a couple of questions. And if you haven't already asked a question. Please do so. We'll go on to questions. Now, we've got a couple of questions. One of them, a lot of these pertained to the straight MBA with specializations. But, Helen, just quickly, can people go do study abroad or like an exchange within the MBA?
Yeah, they can actually, I'm just trying to think, from off the top of my head how that works. But we do have a Global Exchange built in. So that is part of the program.
If you've got more questions about that, please feel free to just shoot us an email and we can, we can take you through that in more detail, we can send you to the right information, etc. Um, we've got a another question, which is around rankings, do MBA ranks matter?
The research that I've seen, which compares MBAs across different schools and different countries and asks employers, you know, their perspective on does it matter. And a lot of them say it doesn't really matter, as long as their Business School is accredited, which we are. And what they look at is, the school is reputable in their sort of area that they that their organization, I guess operates in. So if you're looking to work, obviously, in Australia, UTS is very well known for our MBA. Having said that, we're also pretty well ranked globally, which is a good thing too. So I don't think it's something to get caught up on too much.
I've often heard that more important than rankings are accreditation, so things like AACSP, which is a massive, very difficult accreditation to get because it relies on, you know, the guarantee, you know, the proof of learning and all of those sorts of things.
Definitely, not only do we have that, but depending on which specialization you pick within the MBA, the MBA is actually also professionally accredited with the accounting bodies CPA, CA, and Institute of Chartered Accountants, as well as the Institute of Public Accountants. We have the Financial Services Institute of Australia, FINSIA, and the Certified Finance and Treasury Professional at the Finance and Treasury Association. I've got that right, also accredits if you're doing a finance specialization, and we have some HR and project management accreditation too, so it is a very well thought out degree. And that's because when we created it, we consulted these professional bodies in the process.
So I think we've got one last question, which is around internships. And you sort of answered that, but is it possible to to actually go and we've got another really good question, but just quickly, this one's for you again, Helen. Now, an internship in something specific like market research? Is it possible to get an internship in a sort of a specific field, be it market research or anything really?
Yeah, no, a lot of the time the internships are actually in specific fields. I hope that answers that question.
Yeah. And one last question is do we recognise, so for instance, if someone's done a Graduate Certificate at another university, would we recognize that? And provide credit for that?
Yes, we definitely would. All that we would need is the subject outlines from the courses you completed as part of your degree, as well as your academic transcript. And that way we can map the subjects and make sure it's consistent with what you would have learnt in our equivalent subjects. And then we issue recognition of prior learning.
Does that apply across all the MBAs?
I think it's different, John, in the Advanced that we only provide credit recognition for two of the subjects. One is focused on finance, the other one accounting. The reason why we don't provide recognition for any of the other subjects is that they're actually designed differently from what a standard subject, let's say, in another university or in our other programs looks like because in the Advanced MBA we have a different focus around as I say, future work skills, and the role of technology in business. So, we only provide recognition for two subjects.
And the Executive MBA has no RPL.
And in the MBA entrepreneurship, we do what we do in the Advanced MBA, we have recognition for a marketing and accounting subject. But every other subject is quite uniquely designed in the entrepreneurial context. And we don't provide recognition of prior learning there.
But you can use the Graduate Certificate as an entry point, you won't, you might not get recognition of prior learning, but you can use it as a demonstrator of preparedness for university study at postgraduate level.
It's about the qualification, yeah.?
Yeah. Well, I think we've run out of time. And so I'm just conscious, I'm burrowing into everybody's evening now. So look, I just want to quickly take you through the next steps. Applications for the MBA with specialisations and the the MBA in Entrepreneurship for Summer are open already, but so are also the applications for all of our programs. If you've got more questions, and I'm sure you do, please use the email address you see here, which is email@example.com. And that will get through to the support team, and if they don't know the answer, they know the people who do and they can scrape those up to the program directors or individual academics, or the admissions teams or whoever it needs to be. But we've got a big team that's really dedicated to helping you make the right decision. As I said before, you're only going to do this once. So we really want to make sure it's the right one for you. Look, thank you everybody for your time tonight. It's been really informative. Thank you for joining us this evening. Good luck with your decision making on your MBA and on your MBA journey. And we'll hope to see you all at UTS in the very near future. Thank you so much, everybody.