In early November, the Harvard Business Review published its annual global ranking of the 100 most effective CEOS in 2018. The managers, included in the list, managed to ensure steady business growth and effectively resist the impact of external factors. After analyzing their profiles, I noticed that in the top twenty MBA degree have only four, and a hundred — thirty. Let’s try to understand and honestly answer a few questions about the MBA. What motivates potential applicants to MBA program?
Periodically come to us candidates — adults are held by people with some history of success — and announce his intention to study for MBA. Why — to explore new spheres, to gain the necessary knowledge managers to get a ticket to a managerial position, to make a qualitative leap, to go beyond your market, to establish international contacts? Everything sounds logical and quite convincingly. However, there is some emotional component, the desire to return to the students and at the time of the “fall out” of the working rhythm. And here the need is very clearly defined, but what really pushes us to the MBA program — rational or emotional? Professionals what type of can be need MBA?
Many believe, and rightly so, that the holders of the MBA degree can qualify for a larger salary. Indeed, according to the ratings, salaries, hired managers-graduates get 8-10% more than professionals, this diploma is not available. Moreover, global companies their fee is growing annually by 5-6%. I must admit that in some conservative sector or segment of business MBA, like 70 years ago, is a guarantee of a long and successful career in the Corporation to a happy retirement.
Another category — business owners that go for MBA to get an idea about current global/regional business landscape, to fill in the gaps (if any), to analyze several landmark cases. In short, learn something valuable with the knowledge to continue its course. For these IBA — another plane of the polyhedron, the ability to look beyond and dig deeper. The number of people who would be after the MBA started his own business, alas, is reduced. This suggests that the program provides a strategy and system that teaches to plan and to play by the rules, but does not develop the ability to think out-of-the-box. What to consider when choosing the approach to financing the MBA?
Globally, if a Corporation sends an employee on training at a business school MBA, it means that she has plans for him. The candidate is considered by the business as a dear, but very promising investment project, which is saturated with specific knowledge and skills and in relation to which form certain expectations in the medium term, and measured in monetary terms.
Or professional makes a decision to invest in yourself and your development. Very good train of thought, correct reasoning. But what we should think? First, it’s quite an expensive education, involving associated costs for accommodation and meals (if outside the home country). The second is the formation of labor-intensive and time-consuming — we are talking about the year in European and two in American schools. This cash-temporary investment should be adequate next planned career step. And another important aspect to keep in mind is that a College “student” is totally outside of the business environment, so to speak, puts your business compass in the hold mode and is outside of the grid search, headhunters and Executive Search consultants. How to determine the appropriate format and with the MBA program?
First of all, you need to understand the direction of travel, and the business school to choose in accordance with the specifics of the chosen industry. If, for example, investment-bankers Harvard is a school No. 1 to Harvard. If the intention is to make a career in consulting — it is necessary to monitor the school with the appropriate profile. Just three months teaching in the MBA program, students begin to look at potential employers.
If the applicant does not want to fall out of the environment and continue to operate in a specific market and to build their network of contacts there, they can select a local MBA. But give the local school a strategic vision, the necessary tools, cross-cultural projects and knowledge in the innovations and transformations? A very big question. Rather can approach another alternative is online education available today in many leading business schools, including the top ten. MBA is synonymous with success in business?
If you perform a global success story, you can find quite a number of people who had no higher education and created an incredible company and realize incredible projects. The number of such cases suggests that the presence of the system of education does not predetermine success. To raise ambitious projects allows, rather, a certain set of personal characteristics of the Manager — mix of business, leadership, ambition and desire to change the world. Alas, such qualities are not obtained at the MBA, they do not give any one school or plant no coach. They are either there or not. The third is not given.
Universal tool career any candidate — himself. Proven by thousands of brilliant managers without MBA.