What is MBA?
MBA is a sort of training that has gained momentum and popularity over the recent couple of years. Why? Because this sort of education prepares you to directly apply for managerial roles within the organizations. It provides a very specific set of skills addressed to individuals wishing to become managers or individuals looking for advancement in their existing managerial careers. The secret behind its popularity and functionality is the fact that it focuses on the industry you work in, and is therefore more practice-oriented than many other management courses offered by universities. Providing industry-specific competencies, studying with industry experts, expanding your industry network, and at the same time optimizing your chances for further professional growth is tempting enough to get interested in obtaining such a degree.
Is it worth to study for an MBA?
Speaking of studying an MBA programme, you need to consider substantial money and time investment. MBA courses tend to be the most expensive ones in the portfolio of programmes offered by universities or higher education institutions, in comparison to other business or management related programmes of the same delivery method.
When it comes to time investment, just like with any other postgraduate qualification, you will need to invest a year or two to complete it. Whether it is worth it or not, is a very individual decision. However, any education is an investment in self-growth, and self-development and gaining extra qualifications means becoming more competitive in the job market. It is true that some positions (especially those on higher managerial level) require candidates to be MBA holders and it’s not something you can replace with any other qualification. This proves that an MBA degree is a distinctive qualification and a prestigious one.
Making the right choice
MBA programmes are not something uncommon. As a matter of fact, the degree is offered by the majority of universities or higher education institutes that provide business education worldwide. The question is how to make the right choice. On what factors does your decision need to be based (school location, entry requirements, time investment, budget)? Does an MBA degree guarantee a return on investment? Should you go for a specialized MBA or a general one? Is an online programme of the same value as the campus one? And so on, and so forth, the question list seems to have no end.
All of these are important aspects of the decision-making process and require careful consideration and solid research to be made. However, what to start with?
Firstly, define your expectations and needs which will already help you in narrowing down the options and choose institutions that meet your criteria and programme delivery that fits into your current lifestyle.
Secondly, to become more knowledgeable about the topic I would definitely recommend reading the following blog “How to choose the best online MBA”: https://www.findmyprogramme.com/blog/how-to-choose-the-best-online-mba, tailored to answer MBA candidates’ questions. Thirdly, have a look at a quick checklist prepared by Find My Programme. This is a straightforward and simple tool helping and guiding you through the most important decision-making aspects: https://www.findmyprogramme.com/blog/10-facts-to-check-for-picking-your-perfect-online-programme.
We hope that these will make the process easier for you, less stressful and comforting knowing it has been created by experts.
Is an MBA best option for me?
In terms of skills acquisition, knowledge you will gain and qualifications upon programme completion, MBA is a top degree. A degree and title that is worldwide recognizable.
In terms of programme content and quality, these vary depending on the institution. This is also why the cost of the MBA programmes differs depending on who delivers it. University accreditation and institution recognition also play here an important role, next to the programme subject matter.
But let’s be honest- you can get as much or as little from each opportunity as you wish. And so is with studying an MBA programme. The more effort you put into it the more you can benefit from it.
Why does MBA entry criteria require prior professional experience?
What you need to remember is that MBA programme usually has more rigorous application criteria in comparison to other master’s degrees. MBA programmes are designed for individuals wishing to further advance their knowledge and grow professionally and therefore prior professional experience is one of the most important requirements. This is necessary for class activities including discussions, sharing experiences, providing examples, etc.
Prior experience is also useful for business analysis and case studies. Such activities require students using real-life examples such as companies and organizations for the purpose of analysis of certain concepts. In order to conduct such an analysis a student needs to have access to specific data that is not always researchable.
For these reasons, individuals with little or no experience will probably benefit more from a different programme that offers a less advanced methodology and content that does not require knowledge of business concepts.
Who studies MBA?
MBA students come from many different backgrounds. A common misconception is that you will be seated in the class with top-level management people including CEO’s, Directors, Heads of Departments, business people, etc. In fact, what universities and higher education institutions are looking for is a variety. Variety of students’ backgrounds, experiences, professions, and industries. The purpose of it is to make classes interesting, involving and valuable for each student. This allows having discussions and presenting topics from many different angles, rather than sharing very similar experiences.
What is interesting and distinctive about MBA programe is that taught knowledge can be applied to multiple industries and in multiple contexts. This is also one of the reasons why an MBA programme stands out from other academic qualifications.
In case reading through this blog inspired you towards discovering opportunities of studying an MBA programme, feel free to check here what Find My Programme has in its offer.