In a world of unpredictability and volatility, demand for MBA programmes remains strong with Business Schools adapting to the learning-method needs of their students.
The world's leading, and most popular, business qualification is the Master of Business Administration, or MBA as we know it.
An MBA is designed to teach students how to respond to the needs of the modern world by thinking critically and strategically in seeking solutions to complex problems. It can help towards establishing better career prospects and salary.
1. Global Networking: MBAs provide a great platform to meet people from around the globe. The sort of people MBA student can meet while studying include recruiters, business leaders, old-school businessmen, entrepreneurs, managers from different industries and notorious academics. An MBA is a great way to consolidate networks that can support your career and shape your own professional future.
2. Skills development: An MBA graduate develops or enhances many soft skills after their programme is completed. With a new outlook on life and the business world the different areas taught in an MBA programme, will develop the professional’s survival skills and professionalism, enabling them to develop into exceptional communicators and leaders.
3. Strategic career move: Many professionals want to change careers and/or progress in their fields, looking for an innovative MBA will help steer a career in the right direction or leadership position. It shows potential partners that you are highly competent and dedicated to your industry. In addition, it shows mastery over a particular area or sector such as finance, management, business consultation etc.
4. Higher Salary: Research shows that salaries paid out to an individual with an MBA are higher in comparison to salaries of those with other postgraduate degrees and there is a significant difference. An MBA graduate is usually better and more heavily compensated. Whether an MBA graduate is employed within the private or public sector, their salaries range from £57,000 to £120,000 on average. This doubles the amount paid to those with ‘ordinary’ postgrad university degrees.
It is important to highlight that choosing an innovative MBA programme with the right embedded support will always be the best choice. For example at Coventry University in the United Kingdom, the MBA programme offers two pathways one on Artificial Intelligence and another for the Healthcare Sector. This only highlights how business schools are evolving and the need to keep MBA programmes up to date with what the market demands.
According to Adobe, the share of jobs requiring AI has increased by 450% since 2013 and the International Data Corporation (IDC) predicts that the compound annual growth rate for global sending on AI will be 50.1%, reaching $57.6 billion by 2021. This is thanks to investments in retail, banking, healthcare and manufacturing, which will make up over half of the worldwide spending on AI.
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