Academicians and human resources practitioners do believe in the relevance of a Master’s degree in Business Administration, the famous MBA. Based on data collected by Graduate Management Admission Council (GMAC) for their 2016 Year-End Employer Poll Report, 68 percent of employers hired MBA holders in 2016. The rate is expected to increase by 11 percent in 2017. The report for 2017 is yet to be released.
54 percent of employers around the world were looking into increasing the starting salaries of MBA hires according to the rate of inflation or higher.
According to University of Malaya’s Graduate School of Business director Associate Professor Dr Zakiah Saleh, MBA is being offered by both public and private institutes in Malaysia due to the demand for it. Individuals from all different backgrounds, such as engineering, information technology, including those in health and medical sciences, are pursuing MBA in hopes of starting up a business of their own, climbing the career ladder, as well as, improving managerial skills.
Advancing of career tops the list for the motivation behind an MBA. For most universities, MBA is the most attractive course of all. While pursuing an MBA, working adults have the flexibility to choose to study full time or part time and they have the option to complete the entire course in 15 to 18 months. The flexibility will result in a wide range of quality MBA holders.
Throughout the MBA course, students are exposed to knowledge beyond classroom. In the classroom, they are exposed to several different aspects of business including marketing and organisational behaviour, development and change. With the vast knowledge, they will be able to apply it more effectively in the workplace. They are also presented with case studies involving real business situations and are trained to make strategical managerial decisions, which is a skill sought by employers. Employers appreciate employees equipped with managerial skill sets, which are critical in daily business operations.
With the current competitive employment market, it helps for an individual to get an extra qualification relevant to the industry. In this case, the business industry. MBA gives the individual an edge over other job seekers. Employers always look for potential employees, who fit the mould, those who meet the requisites of the job. Based on a survey carried out by BTI Consultants of Asia Pacific, 80 percent of employers seek candidates with analytical critical thinking skills, while 79 percent of employers look for candidates who can evaluate, troubleshoot and analyse, and another 75 percent of employers want candidates with the ability to resolve problems. In other words, employers are always on the lookout for all-rounders.
MBA graduates have the advantage of being versatile. MBA covers a vast area of management, which enables graduates to apply the knowledge in administration and management of different settings. During their study, MBA students are exposed to recent real business situations and how to deal with business challenges, and latest management techniques.
Besides their previous working experience, employers also look for MBA holders with the ability to lead, communicate effectively, think critically and solve industry-related problems. To sum up, employers constantly seek employees with abilities to help the organisation in times of crisis, which are the abilities attained by MBA students. MBA holders stand tall among their peers with similar experience, as they have attained leadership and decision making skills, enabling them to be on top of the organisation.
Based on the survey by GMAC, 58 percent of companies are willing to increase the salaries of MBA holder newcomers at inflation rate or higher in 2017. At the same time, 40 percent of companies want to retain their entry-level salaries. Generally, the salary rate is determined by the performance of the market, the demand of the industry and the affordability of the company.
It also depends on the individual’s performance and contribution to the business. Companies have the main goal of maximising profit and minimising cost. When they hire MBA holders, they are able to save costs as MBA holders are equipped with the skills and knowledge to bring the companies forward.
At Mantissa College, case studies comprise an impressive 50 percent of assessments while the remaining 50 percent is designated for assignments. The takeaway? When it comes to an active, engaging and hands-on business degree, you’d be hard-pressed to find one better than this IEMBA.
Mantissa College’s IEMBA program boasts a dynamic global network of more than 80,000 alumni. One recent alumnus, Harrison Jub, says, “I took the 15-month Master of Business Administration course and in the first week, I was discussing the Real Case Study with groups of working professionals from different fields. And so I was learning from real people with real problems. Thanks to the case study based learning approach I am now capable of taking up more projects because I had been exposed to a wider perspective on handling matters from my learning experience.”
Certainly, evidence attests to the tremendous value of case studies in business education. Between its focus on this learning style and many other desirable attributes, Mantissa College’s International Executive Master of Business Administration offers an invaluable inside edge for aspiring business leaders. Join Mantissa College’s Open Day/Webinar for a 30% waiver on your tuition fees.