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Should I study a Masters of Business Administration?

Posted by
23 Jan 2017
I am often asked by both clients and candidates whether a Masters of Business Administration (MBA) qualification is of real value and beneficial to one’s career, or whether it is just an expensive, demanding and unnecessary qualification for candidates to include on their CV.  

The MBA is a senior business course aimed at students with management level experience. The course is designed to help an individual broaden their leadership skills and offers professionals the opportunity to be accredited and recognised for their business expertise. But is the qualification really a value add for candidates?

It can be extremely advantageous to study an MBA at a top business school with a very good reputation as different courses/schools reveal different levels of recognition and skillsets. In 2015/2016 it was reported that an all-time high of 84 per cent of companies globally will look to hire professionals with MBAs in favour of professionals that have not obtained an MBA.
 
MBAs are sought after in today’s market for a variety of different reasons. The curriculum of an MBA course focuses on four major subject areas: analytical, functional, ethical and electives. When you think about what it takes to be a leader in any business, the key character traits that leaders possess can be learned and enhanced upon. Furthermore, the MBA can open up new experiences to individuals via short secondments/projects that would otherwise be unavailable through conventional methods.

In addition, there are numerous advantages of an MBA. Below are a handful of reasons for why I think it is worth securing this specific qualification:

1. Higher salary – The average salary for an MBA graduate is considerably higher than that of an employee with a regular masters qualification and it can often be as much as twice the salary.

2. Better career opportunities – It is estimated that 70 percent of MBA graduates worldwide are senior managers or board directors. Whether you wish to further your current career by advancing in a leadership position, an MBA is definitely going to boost your chances of achieving higher goal

3. Broadening your professional network
–You get to know and interact with other future high level managers/directors as well as having the opportunity to meet potential employers through various internships that are part of most MBA courses. Furthermore, you will also gain access to the extensive alumni network of that particular course.

4. New skills and knowledge acquisition – The MBA course will explain and demonstrate the latest issues, apply the latest management techniques and constantly take you out of your comfort zone by challenge you, your practices and your approaches.

5. A wider perspective of the business world
–Through your studies and interaction with the business world you should gain a deeper understanding of the changes, challenges and trends that can impact a business.  

However, the opposing views for undertaking an MBA course are generally the cost and the time commitment. The tuition fees for MBA programmes are notoriously high and could cost anywhere between £15,000 and £70,000. This does not include the costs of housing and textbooks that must also be taken into consideration if you are planning on studying full-time.

Studying for an MBA takes a maximum of two years full-time and a minimum of one year, depending on the program and which country you are studying in. If you are undertaking your MBA part-time, the qualification can take even longer to complete. You certainly need to consider the impact of this on your personal life, especially if you have other commitments such as a family. If you are thinking about undertaking an MBA qualification it is crucial you are committed to following through and completing it.

In conclusion, I feel that the advantages do outweigh the disadvantages and the MBA qualification is ‘gold standard’ but you must be mindful that there is no guarantee you will achieve a successful career from it. Many MBA qualified professionals will attest that the qualification gets your foot in the door over other candidates, but it will then be down to how you stand out in the interview and if successful how you excel in the post.

For further information about an MBA qualification and how it could be the next stepping stone in your career please contact me on 0161 834 1642 or email jonathan.moss@sellickpartnership.co.uk. Alternatively, browse our latest roles. Browse Roles

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