Abstract
Much of the research on the value related to MBA programmes is focussed on American institutions and concentrated on the leading Business Schools. This research investigates the value of the MBA in a sample of UK Business Schools. The research evaluated the concept of MBA value through an extensive literature review and constructed a model which represents the value construct of an MBA using a framework developed by Sheth, Newman and Gross (1991) but placed in the educational domain. A mixed methods approach was adopted. An instrument was constructed to measure student perceptions of the value they had received from their MBA study and in depth interviews were held with a group of Programme Directors from both accredited and unaccredited institutions. The self-reported instruments recorded the perceptions of 145 students across a number of UK universities and a thematic content analysis carried out on the interview data from the Programme Directors. The results of the survey and the interviews confirm the expectations of MBA value as described in the literature. Although, the development of a single goodness of fit model was unsuccessful there was evidence to support the development of a range of value indicators for the MBA. The research indicates the MBA perceived main value of improved business knowledge and career change are met, but other values accruing from the MBA such as personal growth and improved social links are as important for the student. No evidence of a gender gap in career perception was found which challenges previous research on the MBA. This may indicate the MBA badge is acting as a clear credential for the managerial professional and holders are less likely to be discriminated against within the workplace. The research also indicates that Business School tier differentiates for internationally ranked institutions in terms of greater career success, but no differences are found in the other dimensions of the MBA value construct. This suggests that the signal effect of high ranking MBAs primarily influences economic reward and further research is suggested to evaluate these findings.