At Henley Business School Africa, we’re very aware of the tension that comes with getting an MBA. While the evidence that an MBA is good for your career – and bank balance – is indisputable, as a premier degree, the upfront investment is also substantial.
Last year, the average fees for the country’s top 10 business schools was R260,000. That’s a number that’s out of reach for many of us. On the flipside, consider that in 2023, the average salary of an MBA holder was R961,000. That’s nearly twice as much as someone who holds a doctorate, and nearly four times as much as someone with a bachelor’s degree. Not a bad return on investment really.
Of course, not all top earners were always top earners. Many MBA graduates had to use payment plans in order to get the degree that got them where they are now. Now, an MBA will challenge you on many fronts and you don’t want your finances to distract you. That’s why we recommend several ways to find the money to pay for your studies so that you can focus on getting the full value from your MBA learning experience from South Africa’s only internationally, quadruple-accredited business school.
Here are ten good reasons why you should study at Henley Business School Africa:
Option 1: Payment plans
For the majority of students, it’s a cashflow issue. But there’s more than one way to fund your degree. At Henley, we offer three simple payment plans. The first option, if you have access to the funds or perhaps if your employer is paying for your studies, is to take advantage of our full-fee discount for upfront payment. Failing that, we make provision for students to pay in two or three lump sums, which helps to ease your cash flow situation over the two-year study period.
By the way, if you’d like to ask your employer to help you pay for your studies, we can give you some advice on how to make the perfect pitch too:
Option 2: Take it to the bank
Imagine: the quizmaster is asking you how you’re going to fund your MBA. You decide you’re going to phone a friend. But there’s a twist: two friends pick up. Their names are Standard Bank and Capitec. Both of them have the answer. They’re going to give you loans.
And there’s more good news: because of Henley Business School Africa’s close relations with both banks, there are preferential interest rates available to Henley students on whatever option you choose. Whether that’s the ten-year loan plan or the revolving credit plan (which works a bit like a credit card), the banks can help you out.
Option 3: If nobody got me, I know Henley got me
Henley is here to help. Seriously – if neither of the above options work out, we have one last possibility to help you fund your MBA, and it goes as follows: each year, you pay a percentage of the fees upfront – say, 50%– and then you to pay the balance in regular instalments over the year – eating the elephant one bit at a time so to speak. For year two and year three, you repeat this process. The means less upfront capital, less stress.
We know that this degree is going to change your life for the better – ask any of our graduates – and we don’t think that finances should stand in the way of that. You’re a part of Henley Business School Africa now, and we’re happy to have you!
Join our next info session on how to finance your MBA.