The management field is like a vast ocean and an MBA degree at a top B school is the best way to make it to the top. The Masters in Business Administration is the most popular and sought after business qualification. An MBA degree abroad could be just what it takes to bring out the manager in you. A glimpse at the current global market tells us that MBA has made its way into just about every possible employment area.
In the UK there are over 22,000 students having taken up the MBA degree at more than 120 B- schools and universities. The USA has seen more the 90,000 graduate with an MBA on an annual basis. The number of applications to Australian B schools has seen an increase by almost 50% over the past few years. Over the past year, MBA in Singapore has experienced a considerable increase, both from students who are sponsored by their employer and applicants who are self- financing. This is owing to the fact that Singapore, more than ever before, is looking to expand globally and three out of four companies are hiring MBA graduates for senior level positions. The degree also stands to be equally popular in Europe.
Globally, across many industries, especially in the fields of consulting and finance, the MBA is not so much a preferable qualification as an essential one. Most companies not only require the MBA qualification for their management positions but also recruit only from their list of chosen B- schools. The degree is a generalist qualification structured to widen the students’ horizons to help them take account of the major functions of an institution. As the MBA’s focus is more general than specialist, it is targeted more at making a contribution to strategy. Unlike most of the other master’s degrees, the MBA is both a post-job and postgraduate qualification.
Not one sector stands uninfluenced by the MBA. Especially over the past ten years, the MBA has deeply rooted itself even in the not for profit sector: civil service, education, law, health, charities, local government, and so on. The MBA has been on an upward surge ever since the ‘dot-com’ boom and entrepreneurship has been on the rise amongst the upper middle class.
Employers value candidates with the MBA qualification regardless of whether they studied the program in Australia, the US, the UK, or Singapore.
An MBA abroad not only boosts career prospects for graduates but also leads to higher salaries. On average, students can expect to earn 50 percent more than they would have, prior to gaining the qualification. On an average, the starting salary of graduates of top tier MBA programs is around $78,000.
An EMBA or an executive MBA program is highly similar to a regular MBA program. The EMBA however, is primarily for upper level managers, entrepreneurs, and business leaders. The applicants must possess a minimum of five years of professional work experience. EMBA are generally flexible and let students earn their degrees in two years or less. Students who take up EMBA are usually in their mid-stage of their career; for those who are in the beginning of their career, the traditional MBA would be more suitable.
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