Why Do Students or Employees earn an MBA degree?

BLOGTEAM

June 4, 2020

With competition on the rise, it is even more important to stand out. Deciding to go for an MBA can have a significant impact on anyone’s career, especially for those who ultimately aim to join the world of corporate. Pursuing an MBA program from a renowned institute can help you hone your knowledge and skills. It can also guide you as you try to find your space in the business community and prosper in your sector. However, it is essential to make the right choice when it comes to which MBA program to pursue and from which institute to get the best educational experience. The infographic below can be an excellent guide for you as you make these critical decisions.

Why do students or employees earn an MBA degree?

  • 77% for career opportunities
  • 65% to enhance leadership skills
  • 63% to improve managerial skills
  • 31% for gaining technical skills

Salary Potential

A GMAC survey in 2019 reported increased salary potential for MBA graduates

  • 63% in Asia-Pacific
  • 56% in the U.S
  • 49% in Europe

Median annual base starting salaries for new hires are

The median annual starting salaries for the new hires might stand at:

  • $95,000 in Europe
  • $45,000 in Asia-Pacific

Options for MBA specialization

MBA students choose their area of interest from options like marketing, finance, technology management, operations management, organizational behavior, and H.R.

  • 45% hiring managers prefer MBA graduates with specialized workplace skills
  • 55% hiring managers prefer MBA graduates with a broader knowledge set

Sector-wise job growth until 2026

  • Technology Management is expected to grow at 12%
  • Marketing industry will grow up by 7%
  • While finance is expected to rise up to 19%
  • Organizational Behavior and H.R. are expected to grow by 9%
  • Operations Management might see a rise of 12%

Online v/s On-campus MBA

On-campus full-time two-year MBA programs are given high-preference. According to mba.com Prospective Students Survey (2019) by GMAC,

  • 47%MBA aspirants prefer on-campus MBA
  • 18% Flexible MBA
  • 14% Executive MBA
  • 12% Online MBA
  • 22% Part-time MBA

Full time or Part-time MBA

According to a GMAC survey conducted in 2019, 65% graduates prefer full-time MBA programs

Where should you pursue an MBA?

Nearly 9 in 10 programs report that their applicant pools were equally (63%) or more (24%) qualified when compared with last year

Shifts in student mobility:

  • The number of Indians sending GMAT scores to the U.S. for B-school admission
  • falls from 57% to 45% in the academic year of 2019
  • The flow of international candidates to Europe and Canada continues to strengthen
  • at 8.6% and 6.1%
  • A 13.7% fall in international applications is fueling application declines in U.S.Programs

Aspirants also pursue MBA when they need to

  • Increase business knowledge
  • Develop skills and leadership qualities
  • Gain additional career credentials
  • Launch a new business
  • Transit from a functional role to a management position
  • Grow professional network
  • Gain international exposure
  • Sharpen soft skills and develop
  • leadership qualities
  • Enhance communication skills

Here are the tips to succeed in MBA

  • Choose the right college and stream
  • Create clear goals
  • Study Strategically
  • Attend all types of practical sessions and training
  • Learn to prioritize
  • Develop networking and interpersonal skills
  • Work on communication and language skills
  • Gain domain expertise and knowledge of related industries
  • Be self-disciplined and organized

Source:-https://www.gmac.com/-/media/files/gmac/research/admissions-and-application-trends/application-trends-survey-report-2019.pdf

Source:-https://www.gmac.com/-/media/files/gmac/research/admissions-and-application-trends/demand-for-mba-and-business-masters-programsinsights-on-candidate-decision-making-summary-reportmbac.pdf

Source:-https://www.gmac.com/-/media/files/gmac/research/admissions-and-application-trends/demand-for-mba-and-business-masters-programsinsights-on-candidate-decision-making-summary-reportmbac.pdf

Source:-https://www.postgrad.com/business-schools/mba-program/reasons-to-study-an-mba/|https://www.indiaeducation.net/management/mba-glocal.html

Source:-https://www.payscale.com/mba-paths|https://www.allbusinessschools.com/mba/roi/|https://onlinebusiness.northeastern.edu/blog/choosing-the-right-school/

Source:-https://www.allbusinessschools.com/mba/roi/|https://www.indiaeducation.net/management/mba-glocal.html

Source:-https://www.postgrad.com/business-schools/mba-program/reasons-to-study-an-mba/|https://onlinebusiness.northeastern.edu/master-of-business-administration-mba/resources/10-tips-for-excelling-in-an-mba-program/

Source:-https://www.gmac.com/-/media/files/gmac/research/admissions-and-application-trends/application-trends-survey-report-2019.pdf

Source:-https://www.gmac.com/market-intelligence-and-research/research-library/employment-outlook/business-school-hiring-report-corporate-recruiters-survey-2019|https://bized.aacsb.edu/articles/2019/september/mba-salaries-rose-worldwide-in-2019