Thinking about doing an MBA? – just go for it!
Choosing to do a postgraduate course of study can be daunting especially for students who may have not completed undergraduate studies previously or who completed their studies a number of years ago. A great deal has changed in the higher education environment – and mostly this is a good thing. Technology has now become ubiquitous and the notion of studying on line and off campus has become a significant reality. These changes and the diversity associated in some ways make the choice of institution and focus all that more complex.
In terms of ‘cold hard cash’ opportunities – an MBA graduate base salary is currently $103,000 pa – www.payscale.com - The award considerably enhances the opportunity to move into positions such as CEO, Project Manager, General Manager and Operations.
Reasons to do an MBA or postgraduate business program
The MBA still remains high currency in the business environment. People looking for advancement to more senior positions within corporations and/or institutions are well advised to consider doing an MBA – often referred to as ‘the real deal’ award. Australia has a very good reputation around MBA delivery – and the variety of alternative modes makes the choice even easier.
Doing postgraduate study certainly requires effort and focus, but the rewards are significant at both a personal and professional level. Many of my own graduates have reflected on the fact that postgraduate study changed their lives, provided new focus and direction, and provided an enriching experience at a number of levels.
The career outcomes students can expect from doing an MBA
The options are considerable. A return to study usually suggests a degree of mobility. That is the student has made a decision to take their career to the next level and with the assistance of new found currency – courtesy of postgraduate study – the options available usually open up significantly.
For those in middle management positions, an MBA would usually provide options to move upward into more senior positions. For those wanting to relocate or reignite a career the MBA is a most useful credential in the application process.
How MBA programs are structured
Most MBA programs consist of a core set of units/subjects with the option of majors/streams available once the CORE has been completed. The core program generally consists of focus areas including economics, project management, business law, organizational behavior, accounting fundamentals and the like. The concept is that the core provides all students with an overview of the key ingredients of either working for or operating a business.
Beyond the core many programs provide majors/streams in accounting, entrepreneurship, IT, cyber studies, data analysis, human resource management, marketing to name a few.
My recommendation, when asked, is to ensure you choose the right fit for you – taking into account the focus areas (beyond the core) that you think you will either need to progress or feel you would like to explore. Essentially there is a ‘right’ MBA for everyone – just take some time to explore the options.
Emeritus Professor Greg Whateley is currently Deputy Vice Chancellor of Group Colleges