So, what is an MBA?
In a competitive global job market the demand for postgraduate education has soared over recent decades, meaning that people are increasingly choosing to study for an MBA, or Master of Business Administration. And if you’ve found your way to this page then there’s every chance that you’re already aware of what an MBA is. But what does the program actually consist of? Why is it so highly-regarded by employers? And how can an MBA from the top business schools regularly lead to a graduate salary of over $150,000?
There are some key differences between a Master’s degree and an MBA. Whilst Master’s are specialized degrees that are typically targeted by those holding an undergraduate qualification, MBA programs are more generalized programs that teach overarching business skills such as management, leadership and communication. They tend to be aimed at students who already hold a postgraduate qualification and some years of work experience. Executive MBAs, meanwhile, are aimed at individuals even more advanced in their career who are looking to target upper management roles and international opportunities.
Though an MBA provides students with the practical business skills that appeal to employers of all shapes and sizes, the international network of business contacts that many MBA graduates possess is arguably just as valuable. Also important is the international nature of the program. Classes are often made up of a diverse set of candidates from various backgrounds, with a focus on foreign study trips and exchanges. Graduates therefore come out of the program with a wealth of international experiences that leave them well-prepared to work with a wide range of people, and in a wide range of locations, in their post-MBA career.
Part of the reason why the top MBAs remain at the summit of MBA rankings is because they are always evolving to meet the demands of the job industry. By maintaining close links with the business community they are able to adapt their curriculum to plug skill gaps, embrace new technologies and stay on top of the latest workforce trends. Ultimately that may be the reason why MBAs have been the go-to qualification for major employers ever since the first program was introduced at Harvard Business School back in 1908.
So whether you’re looking to enhance your current career path, switch job function, change industry, seek employment abroad, start your own business or advance up the ranks of your current employer, an MBA could well be the first step in the next phase of your life.