Challenge is something you’ll need to be accustomed to if you want to excel in business, and an MBA is one of the biggest academic challenges you can experience.
Once completed, an MBA will open the door to hundreds of opportunities, and you’ll find that it really makes a difference in terms of career advancement, salary, and other expectations you may have for your future.
Improved career outlook
Due to the nature of the qualification, the amount of effort it requires, and the topics it covers, MBA graduates have a much higher chance of obtaining a senior level management positions early on in their career. Approximately 70% of MBA graduates around the world go on to become senior managers or board directors.
You’ll have the potential to earn a higher salary
An MBA graduate’s average salary is considerably more than that of a graduate with a general master’s qualification. In 2013, MBA graduates from AMBA accredited business schools were receiving the highest average salary in the UK since 2004, with 11 percent more graduates reporting that they were earning above £70,000 in comparison to those surveyed in 2010. The average salary in 2013 for MBA graduates working in the UK stood at £82,000.
There’s plenty of opportunity to build your contact list
MBA students can benefit from fantastic networking opportunities, as industry professionals are known to offer MBA students guest lectures. The chance to undertake work placements also acts as the perfect opportunity to network with potential future employers. An internship is practically a ‘first step through the door’, and if you work hard, it could very well pay off when it comes to the search for employment. In addition, MBA graduates gain access to the MBA alumni network – a platform which also provides the chance to network, build a contact book, and maybe even find employment or form professional partnerships.
Which MBA specialisations get me which jobs?
Chief Financial Officer - The chief financial officer serves as the highest finance authority of an organisation. They are responsible for sales forecasting, budget management, cost benefit analysis, and funding acquisition. Average salary: £100,923.
Investment Banker - Investment bankers manage mergers, bonds and shares, privatisations, initial public offerings, and M&As. They also advise on meeting financial targets and implement financial plans for organisations. Average salary: £48,611.
MBA in Leadership
Chief Executive Officer - The chief executive officer holds the highest position in an organisation. They communicate with the board of directors and make corporate decisions. Average salary: £99,576.
HR Director - HR directors oversee all the human resource activities within an organisation. They are responsible for recruiting, planning, counseling, policy making, and employee administration. Average salary: £65,174.
Chief Marketing Officer - The chief marketing officer oversees all the marketing operations of a company. They direct the marketing team and perform analytical and creative tasks to meet sales targets. Average salary: £123,347.
Marketing Director - The marketing director is responsible for designing the marketing strategy of an organisation, taking into account supply and demand and industry competitor performance. Average salary: £67,338.
Business Development Director - The business development director is responsible for the sales and marketing of the business, as well as meeting strategic, operating, and customer relationship objectives. Average salary: £65,934.
Bank Director - The bank director holds the highest authority in a bank and oversees all operations and financial activities. Average salary: £151,569.
Chief Technology Officer - The chief technology officer resolves all organisational IT problems and implements new technological incentives. The CTO supports the operative activities of an organisation. Average salary: £82,261.
Senior Project Manager - The senior project manager designs, presents, and implements a project management plan for an organisation. They set targets, coach employees, and perform regular project evaluations. Average salary: £55,853.
Business Analyst Product Manager - The business analyst product manager focuses on connecting market opportunities with consumer needs by conducting regular commercial research and implementing new marketing strategies. Average salary: £55,930.
Global Sourcing Manager - The global sourcing manager secures high quality materials, goods and services for the best possible prices and monitors market conditions and industry trends. Average salary: £46,862.