Investing up to 100,000 euros in a business management degree course of prestige opens the door to finding a job? In recent years, it has become an almost necessary additional condition to your career. The Master in Business Administration (MBA) can provide a powerful network of contacts, even internationally, to give a professional leap. This is the opinion of Alberto Lump, team leader of Randstad Professional.
These studies have always been seen as an opportunity to revive a career. But with high unemployment and few movements in business, is it worth spending a lot of money on them?
The amount is not a trivial matter in these times. Depending on the prestige of the school, it can range from ten thousand to 50,000 or close to 100,000 for global executives, in which case, students have classes in different schools in Europe and Asia throughout the program.
“It was something I wanted to do to open up doors” says Pau Serrat, born in 1988, an MBA student at ESADE. Previously, he worked at Henkel and Oysho. He studied Business Administration in college, but since he had no clear specialization, opted for this degree. Was it worth paying 60,000 euros? “I think so. In the long run I guess I’ll recover.”
Gloria Batlló, director of MBA programs at ESADE explains that the student profile of these full-time courses is 28 years on average, with four of experience. “After the crisis, an MBA is necessary, but not sufficient, to find work. Before, there was a shortage of talent, something that has been mitigated,” she says. She recommends these studies for those who want to boost their life with a change of sector, function within the company or to start their own company. She claims that there are opportunities abroad, where these professionals can earn an average of at least 15% or 20% more than in their home country.
However, youth schools create such high expectations that often do not match reality. An MBA is a tool. Regarding other graduate programs that are more specialized, it is highlighted that this degree may enhance the capabilities of graduates. Graduates in law are required to perform an MA in Public Advocacy if they want to enter the world of courts. It is a fact that a prestigious school helps find employment, but whether it is worth its price is not easy to decide.
For the Executive MBA, the director of Randstad believes it is vital to choose the correct time to do it, because it is useful for those who will have to manage teams or if there are changes in your company or new partners or consultants wanting to fully open a new sector. If the market is stationary or there’s no chance of promotion in your business it is best to think twice about it.
On the other hand it is believed that it’s worth doing as it has an immediate impact on career. But it is best done in collaboration with the company where one already works. Finally, it is worthy of note that finding jobs largely depends on the student, but at least the MBA is able to help them and offers a network of contacts.
