Things You Should Know About an International MBA Degree
What comes to mind when you hear the term “MBA”? Forbes magazine’s front cover features a beaming CEO? A hub of global finance with tall buildings and humming white-collar professionals using their iPhone? Harvard? Is it true that an MBA degree is the most expensive document? All of these are accurate. But does it stop there? What is the purpose of an MBA?
1. What is an MBA?
An MBA, or “Master in Business Administration,” is a degree that has gained international recognition and is intended to help students develop the abilities needed for management and business careers. For those aiming for the highest C-level management positions, the degree is often seen as being necessary. An MBA provides access to extensive alumni networks, elite internships, and the most desirable jobs. Or, it can be the impetus for people to pursue their own business venture needs.
When the nation began to industrialize and businesses started looking for scientific management methods, the degree first appeared in the United States in the early 20th century. The first MBA program debuted on the Old Continent fifty years later, and during the past ten years, MBA programs have gained enormous popularity throughout the Middle East and Asia.
2. General management
An MBA is really about general management. A master’s degree in business management theory and practice is awarded. It is a thorough examination of all the key facets of management. The curriculum includes elective courses that build on the fundamentals as well as courses in core subjects like accounting, finance, marketing, human resources, general management, operations, strategy, leadership, and negotiations. This allows students to deepen their knowledge and skills in subjects that are pertinent to their individual career goals and ambitions.
Also, there are many thesis writing services available online for master’s students. As HWD (2021) said given that it takes place in the final year or semester of a student’s academic level, a dissertation is perhaps the most significant component of any student’s academic career.
3. Specialized MBA programs
In recent years, specialized MBA programs have become more and more popular. They provide special knowledge in one particular topic, unlike standard MBAs or non-specialized programs, allowing participants to increase their competence in a certain business sector or scientific field. An MBA with a concentration in a certain industry, such as real estate, marketing, supply chain management, healthcare, investment management, etc., is known as a specialized MBA program. These programs develop competent, job-ready professionals with knowledge and abilities specific to the demands of a given industry.
4. Hard skills vs. Soft skills
Only an MBA program offers the ideal mix of teaching both hard and soft skills. Lei Han, a Wharton MBA with more than 15 years of business experience, writes in her article “Hard skills vs. soft skills – difference and importance” that there are three main distinctions between hard and soft talents. The first is where you can learn those skills. Hard skills can be learned in school and through books, but learning soft skills is more difficult because they are typically poorly taught in school and must instead be gained through trial and error on the job. Hard skills typically demand an intelligence quotient (IQ), also referred to as the left brain or the logical center.
On the other side, soft skills typically require emotional intelligence, also referred to as your right brain or the emotional center, or EI. Hard skills are talents where the rules remain the same regardless of your chosen organization, circumstances, or coworkers, which is the third difference. Soft talents, on the other hand, are ones where the guidelines alter based on the workplace culture and the individuals you deal with.
The networking possibilities an MBA program provides for its students are a major plus. Students from a variety of nations attend MBA classes, and their interests range from general management to conducting business in industries like food and beverage, defense, healthcare, etc. No other location allows for such a diverse mix of personalities to coexist and create a multicultural environment. B-schools, students, and alumni are committed to creating extensive networks where individuals from many locations may come together, share ideas, help with your law thesis topics, thoughts, and aspirations, and even collect money for their initiatives.
6. Corporate vs. entrepreneurial careers
An MBA is frequently seen as a career-expander. It can enable you to advance professionally inside your current organization or open doors to a different one. It might result in more compensation, a more senior position, and undoubtedly more professional obligations. Or, it can be the impetus you need to embark on your path by starting your own company. Due in large part to the abilities an MBA teaches its students—strategic planning, global thinking, leadership, and people management—an MBA is priceless for those who set out on their journeys.
Data speaks loudest. According to the most recent data, which the Financial Times (FT) published as part of its research for its 2015 rankings, 22% of 7,800 MBA graduates from the top 100 management schools in the globe started a business either while pursuing the degree or soon after finishing their program. The average yearly income of these budding entrepreneurs three years after graduation was 134,000 USD, as opposed to 132,000 USD for all those who were questioned for the study (Milen Garcia, 2016).
7. Post-MBA salaries
Undoubtedly, one of the most significant advantages of an MBA is high compensation. It is unquestionably true that earning an MBA is a profitable long-term investment.
There is occasionally little use in comparing starting salaries for MBA grads to those of other graduates because they are so high. Even better, MBA incomes continue to rise for several years after graduation.
According to data from the FT’s Global MBA Ranking 2016, the lowest weighted salary for an MBA graduate from the top 10 business schools is 154,150 USD, which represents a 100% rise over pre-MBA salaries three years after graduation. The highest individual weighted pay is 185,939 USD, an increase of 87%.
8. Employment prospects
The majority of MBAs have little trouble getting good jobs. More than 80% of MBA graduates typically land a job three months following graduation. According to surveys, the career prospects for MBA graduates would continue to improve in 2016.
Most MBAs don’t have any trouble finding desirable jobs. Typically, more than 80% of MBA graduates find employment three months following graduation. According to surveys, career opportunities for MBA graduates will be on the rise in 2016.
HWD (2021). How to Write a Dissertation. https://www.helpwithdissertation.co.uk/blog/how-to-write-a-dissertation/
Milen Garcia (2016). 10 Essential Facts about the MBA Degree.