Why Get an MBA: What Are the Benefits and Advantages?

Why Get an MBA: What Are the Benefits and Advantages?

 The MBA (Master of Business Administration) is a diploma in international business and management aimed at professionals from all fields who want to advance their careers, particularly to management positions.

The MBA, unlike the others, is not a master's degree. This program is primarily aimed at professionals and is intended to help them advance in their careers. However, keep in mind that the MBA Association only accredits 25 schools in France (AMBA). This certification ensures the program's quality and international recognition.

The MBA is a general education program that can help you advance in your career.

"The MBA remains a general education," warns Phil Eyre, MBA director at Grenoble School of Management (GEM). This program covers fundamental business school subjects such as finance, marketing, human resource management, accounting, and so on.

As a result, it is aimed at professionals specializing in other fields, such as engineers, lawyers, human resource managers, and even people with a less technical academic profile. They all have one thing in common: after at least three years of experience – the minimum required to integrate an MBA – they want to take their careers to the next level.

Some MBA students want to be managers, while others want to change careers and work in international business. Still, others, who are already executives, want to expand their managerial and commercial knowledge. "Many engineers, for example, lack the fundamentals of commercial or managerial professions," explains Kentia Boulay, director of Essec's Global MBA.

Choose between a traditional MBA and an Executive MBA.

Candidates can choose between a traditional MBA, which is full-time, and an Executive MBA, which is part-time and better suited to professionals who want to continue working while pursuing this training.

The second option is frequently preferred by more experienced professionals – those over the age of 40 – whereas the first option welcomes younger profiles. It is not necessary to have a bac+5 to participate in these programs; a bac+4 or even a bac+3 is sufficient.

To enroll in these courses, you must first go through a selective admissions process that is unique to each institution. In most cases, you will go through an online pre-selection, then a file selection, and finally interviews, often in English. Many schools also require letters of recommendation, management aptitude tests (Tage Mage, GMAT), and English proficiency tests (TOEFL, TOEIC, IELTS, etc.)

The MBA is in global education.

All MBA courses are taught in English, so an excellent level is required! The MBA has a significant international component. Some programs have a sizable proportion of international students.

This diversity of profiles, both linguistically, culturally, and professionally, "is part of the MBA experience," Kentia Boulay assures, emphasizing the importance of MBA "coaching" and "networking." Lessons are not limited to lectures, but also include workshops, company-related projects, professional intervention, and so on.

"Even though we are in school, we are not far from the professional world," confirms Ying Liu of Essec. She will begin her Essec Global MBA in September 2021, at the age of 33, with a university degree in Applied Foreign Languages and six years of sales experience. This degree, she says, is "more of a life experience than a training program."

How to Fund Your MBA

On the financial side, the MBA is a very expensive training: expect to pay at least 10,000 euros and up to 60,000 euros. A reputable MBA – labeled by the AMBA and ranked in the Financial Times – should cost at least 30,000 euros. On top of this, there are tuition fees, on-campus housing, and travel expenses.

Even if some participants are "sponsored" by their company, they remain in the minority, and professional activity is frequently put on hold for the duration of the training. The issue of financing is to be expected, especially since there are several ways to reduce the bill.

Depending on your profile, establishments may offer scholarships, reduced tuition fees, and preferential bank loans. You could also use your CPF (personal training account) or your savings... You can also pursue a part-time MBA while continuing to work part-time.

Post a Comment

Previous Post Next Post