does anyone have any MBA aspirations

**hugebrain** · 25 June 2007, 13:28

no problem

Being a geek I'm doing an MSc instead, but just choose one of the people you work with and his boss. Worked for me.

**BlasterBates** · 25 June 2007, 13:28

Should be no problem, just get a reference from a friendly former boss or colleague, or ask a friendly co-contractor.

You are paying so they really don't care.

**buffdaddy** · 25 June 2007, 13:33

sorry for the typo again..

yeah..another criteria is GMAT...so will work towards getting a good score on that first.

another questions is...

if I build up a HUGE profit in the Ltd Co in the next two years...then stop contracting to go studying...can my Ltd Co still pay me dividends or "sponsor" my study...

are there any tax benefits?

**Ardesco** · 25 June 2007, 13:38

You are employed by your LTD Co and it can pay you what it likes. There does not have to be income/profit for your company to be able to pay you wages, or income for your company to pay you dividends (as long as you are still in profit and have marked the profit for dividends)

**hugebrain** · 25 June 2007, 13:41

Originally posted by buffdaddy

sorry for the typo again..

another questions is...

if I build up a HUGE profit in the Ltd Co in the next two years...then stop contracting to go studying...can my Ltd Co still pay me dividends or "sponsor" my study...

are there any tax benefits?

As long as the course is for skills that the company needs then they can pay the fees directly, saving your dividends for essentials like beer money.

**buffdaddy** · 25 June 2007, 13:41

You are employed by your LTD Co and it can pay you what it likes. There does not have to be income/profit for your company to be able to pay you wages, or income for your company to pay you dividends (as long as you are still in profit and have marked the profit for dividends)

Great..

so the plan is going well....and hopefully my Ltd Co qualifies for the 3 year tax relief on profits too during the time i am doing the study.

Just don't want to put a financial burden on the Mrs when i am studying.

**KentPhilip** · 25 June 2007, 14:21

What do you want to do an MBA for.

My IT director thinks they are pants, and so do I.

Waste of time.

If you must do something, then an ordinary business masters is good.

The good schools claim that they add 70% to your salary. But we both think that that is cos you are putting in more work and are more motivated.

To be an IT contractor is the highest aspiration in my opinion. That and being a hollywood actor or John Prescott (snigger).

**DodgyAgent** · 25 June 2007, 14:26

Originally posted by buffdaddy

So i am a newbie contractor (9 months worth)

- Love the lifestyle
- Love the money
- Love being my own boss
- Love the interesting projects

But i have an asipration of getting an MBA from a good school in the UK.

Has anyone achieved this? how hard do people think it will be for a contractor to get into one of these courses. The problem with the applications is that you need two references from current "Line Manager" and "Colleagues", but since we have no such things, are we contractors at risk of not getting in.

look forward to the answers

If you are going to do one, do a proper one otherwise dont waste your time and money.

**pickle** · 25 June 2007, 15:35

I went through the whole MBA thing 2 years ago. Although I ended up deciding it wasnt worth it. A two year MBA at NYU Stern (where I applied and got in) would have cost well over a quater of a million GBP, including oportunity cost of not contracting for 2 years. I decided it wasnt worth it right now......

For what its worth, I found being able to spin a freelance/small business line on the contracting thing was actually a plus to the application. Bottom line - , unless you have some kind of special background, its all about the GMAT. Nail that and you will be fine. I made a 770, but it took a few months of solid graft.

does anyone have any MBA aspirations