The most recent survey of our members found that:
1. The average MBA salary was £66,500
2. 70% were either board directors or senior managers
3. 1 in 4 expected to run their own business in the future
4. MBAs are employed mainly in general management, marketing, corporate strategy and IT
5. Around 25% of graduates are female.
The benefits of traditional MBAs have perhaps been less affected by time. The confidence of knowing that you are as familiar with concepts as those trying to ‘blind you with jargon’ is as valid as ever, as is the ability to be constructively critical of consultants or others purveying ‘solutions’ to management problems. It is still important to be able to use management tools and techniques – from a basic spreadsheet to a sophisticated knowledge management tool – to communicate clearly, whether in writing or when making presentations, and to analyse a problem thoroughly before suggesting a solution. But added to these, an MBA today is likely to give you a range of ‘softer’ skills and understanding. You are likely to develop your teamworking skills, to gain an understanding of why people in organisations behave as they do, and to become more aware of the problems stress can cause.
Understanding the basic functions in an organisation and the main features in the environment that impact upon it is still vital for effective strategic management. Exposure to the latest thinking in management will always be an asset. This is just the tip of the iceberg as far as career opportunities for MBAs are concerned. Having an MBA degree gives you countless job opportunities, mostly in top level positions, and can help to further your career tremendously. Once you have estimated the cost of your MBA, you need to assess the benefits of an MBA in terms of increased salaries, better wages, and more career opportunities to evaluate the monetary value of your MBA degree!
We urge you to find out more about the Top MBA Programs there are now!