Further education is a precious commodity

Unlock the true value of an MBA. Discover how to choose the right program for your career goals, maximize its financial and personal benefits, and stand out in the job market.

Further education is a valuable asset

The value or worth of some things is difficult to determine. As the prevalence of a type of education or further training increases, its value tends to decrease, be it a compulsory school leaving certificate, a high school diploma or a university degree. The "MBA boom" of recent years has made the question of the value of this education increasingly loud. But the question is not "What is the MBA worth?", but for the applicant: "Which MBA program provides me with the knowledge and skills I need for my planned career?"

There are many programs on the market that conclude with the title "MBA" and an estimated 250,000 students enroll in such an MBA program each year. But not every MBA course meets the same expectations of students and employers. For this reason, both – MBA prospective students and companies – must research and understand the current education market and its elements very well in advance in order to get the most out of it. The MBA title often brings bonuses for employees, and for some employers, this degree is even a basic prerequisite for filling certain positions. In many industries, the average salary difference between employees with an MBA degree and those without an MBA in their pocket is even around 81 percent.

The number of MBA programs is increasing, and with it, the diversity. In order to gain the necessary orientation, some companies feel compelled to give the most weight to the image of the respective business school when recruiting students. Large international companies only recruit from the "Top 20" business schools, and the world's largest companies only look for suitable employees among the Top 5. But not everyone has the privilege and the necessary means to study at Harvard or Stanford. For this reason, one should choose the most suitable and valuable program for oneself. An MBA program is valuable on three levels: financial, personal, and intellectual.

According to the Graduate Management Admissions Council (GMAC), the value for MBA graduates lies in particular in the following nine criteria: the opportunity for personal development, the development of management knowledge and technical skills, letters of recommendation and testimonials, increasing career opportunities, the possibility of faster promotion, preparation for a good job and job security.

Most graduates described their studies as very significant and important, with the results usually depending on the type of study. Full-time students were very satisfied with the courses they took, while part-time students were enthusiastic about the networking opportunities and the exchange among students.

Which MBA is best depends primarily on personal circumstances. If you want to change your field or profession, a specialized MBA can be very helpful. If you are starting your own business, a generally held program is probably more advantageous to get an overall overview as well as skills and abilities to manage the business. In some cases, an MBA is not the right thing for personal or professional success. Of course, an MBA can open many doors, but it is not always the only right way.