|
One-way to kick-start
a career is to take a Masters of Business Administration
(MBA). With the speed of business activities accelerating
in the global marketplace, people need to be more
commercially aware than ever. The MBA qualification
is the well- established route to gain the necessary
skills and knowledge.
 The
MBA aims to build on the foundations of work experience
and, by providing new skills and knowledge, to
enable the student to make the transition to a
higher level of responsibility. MBA students typically
will have made significant career progression
for a number of years after their first degree.
They should have an in-depth knowledge of either
a function or role and a specific industry sector
Many of those who decide to take
an MBA have achieved their initial career goals.
They may have qualified professionally or have
reached a position of significant responsibility.
However, although they may be knowledgeable within
a certain role or industry, their immediate career
options are limited. New skills are needed if
they are to progress to positions of greater responsibility
and increase the scope of their career options.
The MBA, as a general management qualification,
offers a wider range of options than any other
alternative postgraduate qualification.
One of the most important functions
of the Association of MBAs is providing quality
control by validating MBA-awarding bodies through
a system of accreditation. Currently 37 of the
118 business schools in the UK have programmes
that are accredited by the Association of MBAs.
The value attached by schools to
such accreditation is highlighted by the fact
that many overseas schools, even as far away as
Asia, are now seeking this mark of quality control.
There are currently 26 accredited schools on the
European continent and an increasing number worldwide.
Assessment criteria are rigorous and acts as a
kind of consumer protection for prospective students.
Those without work experience should
not consider MBA study. The Association advises
recent graduates to defer until they have at least
two, and preferably three or four years solid
work experience. A Master in Management degree,
which is aimed at those who lack work experience,
is an alternative. The curriculum largely follows
that of the MBA. It is far cheaper than an MBA,
is offered by some of the best schools, and although
it does not have the kudos of the MBA it is well
regarded in the business community.
According to the latest Association of MBAs Career
and Salary Survey, the salaries of MBA graduates
have risen consistently over the past four years.
All have achieved above average earnings highlighting
the MBAs positive impact upon salary levels. The
survey also shows that respondents receive both
immediate and lasting career enhancement following
their studies. Over half of the respondents now
hold senior management positions, with the number
of MBAs still in junior positions considerably
reduced. MBA graduates enjoy on average 2.5 promotions
post qualification.
Respondents were asked the extent to which the
MBA has shaped their personal outlook. The vast
majority said that achieving an MBA has increased
their self-esteem allowing them to be more assertive.
This confidence takes the form of strong convictions
that they are now able to compete with the best.
There is no substitute for the experience of living
and working abroad. Learning to adapt to the social
and business cultures of another country is a
key skill for those likely to work with overseas
partners.
Few countries can compete with Britain
as a popular destination for MBA study. . There
are a number of reasons for this: For most of
the world, the language of business is English.
That rules out a number of otherwise excellent
programmes in non-English speaking countries.
Also, students with a good standard of spoken
English will find it easier to adjust to living
conditions in the UK. Average fees and living
costs are lower in the UK than they are in the
USA. However, students from abroad coming to Britain
should also be aware that changing exchange rates
and the strength of sterling may make the UK an
expensive country for them. Foreign students should
also note that in terms of reputation and prestige,
many business schools in newly industrialised
countries, especially in the Asia-Pacific region,
do not yet match European and North American ones
in this respect.
One major difficulty that students
from abroad face is actually choosing a school
without being able to go and see it for themselves
first. A growing number of schools do make presentations
in centres abroad and it is worth asking whether
they have any local graduates to whom you can
talk. They are more likely to give you an unbiased
opinion than the representatives of the schools
themselves.
The main questions a school will
ask you will be about your CV, your qualifications,
work experience and references. If your qualifications
are borderline in terms of the demands the programme
will make, you may be asked to do a GMAT (Graduate
Management Admissions Test), although some schools
have their own test or prefer to rely on interviews
and references. The GMAT is scored out of a maximum
of 800 with separate scores attached to numerical
and verbal skills. Five hundred is seen as the
absolute minimum you need to be able to tackle
a course with any confidence, so a good GMAT score,
well balanced between the numerical and verbal
aspects, is a strong indication that you will
be able to do the work. More demanding schools
will look for a score of 580-650.
If English is not your first language
the school will require proof of language proficiency.
If a school judges that you may have problems
with written and spoken English, it will probably
ask you to take a language proficiency test. This
would be either a Test of English as a Foreign
Language (TOEFL) or the British Council's International
English Language Testing System (IELTS). It is
important to remember that both understanding
and being understood are vital since so much work
takes place in groups and syndicates.
The Association's website is an important
source of free information for the prospective
overseas student and its annual Official MBA Handbook
is essential reading. In addition to listing details
of schools worldwide, it provides comprehensive
advice for would-be MBA students considering studying
in Britain, including the size and culture of
the school, programme content, quality of faculty
and student body, facilities and location.
Author: Peter Calladine, Educational
Services Manager, The Association of MBAs
|
