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A global survey by the Graduate Management Admission Council among 6.223 MBA students from 107 states revealed that 77% of them expect the MBA to improve their career opportunities. In times of globalization, the good reputation is just as much an advantage as the language skills and intercultural competence provided here.
It qualifies for demanding activities and, thanks to its generalist orientation, increases the flexibility to switch between individual companies, fields of activity and branches of industry. Finally, an international network of contacts is also beneficial, the greater the benefit the more renowned and successful the graduates are. However, the MBA is no longer a guarantee for a top position with a corresponding salary. The reasons for this are mainly the inflationary growth of partly dubious programs as well as the content that does not always meet the quality requirements. As a result, many companies are now distrustful.
Graduates of two-year programs receive the highest salaries, according to a survey by the UK accreditation body AMBA, followed by graduates of a one-year full-time program. Slight cuts in salaries, on the other hand, have to be accepted by part-time students. At the bottom of the list were graduates of distance learning MBA programs. The salary of graduates from leading business schools in Europe is currently between 95.000 and 145.000 US Dollars. The highest salaries are paid by Financial Services, followed by Business Consulting, the Computer Industry and Industry. The average annual salary of graduates of American top schools is slightly above the European level. The annual MBA ranking of the Financial Times provides information on how many students from each school tested found employment after three months.
If you want to make an MBA, you usually need to complete a course of study in any discipline. The subject matter of an MBA program usually covers all the areas of responsibility that are relevant to a management position. These include micro- and macroeconomics, finance, accounting, marketing, production, logistics and human resources. In addition, management techniques, statistics, mathematics or decision theory are taught, but also integrativeCourses such as project management or communication are on the curriculum. In addition to these compulsory courses, the students can choose between different specializations courses (electives), which often incorporate current developments that deal with specific topics or specific economic regions and sectors. Practice reference and interactivity are emphasized.
However, especially for the more prestigious programs, the requirements on the applicants are high, a cancellation rate of 50% is the rule. Access requirements are an optimal presentation of the application, very good academic achievements as well as the personal suitability of the prospective customer. In addition, special emphasis is placed on work experience; some executive MBA programs even require many years of management experience. However, there are also MBA programs that are primarily aimed at university graduates (Junior MBA programs).
In exceptional cases, deficits in academic education can be compensated for by a particularly qualified professional experience, or, conversely, excellent studies can compensate for a lack of professional experience, especially if the applicant has already completed an apprenticeship or carried out company-related projects and internships. Important access requirements are also good results at GMAT and the TOEFL test, as MBA programs usually take place in English.
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