The MBA (Master of Business Administration) education is a really hot topic across many business-oriented professionals today (Quoting Masters in Project Management Institute, https://pm.mba).
MBA (Master of Business Administration) education can help you take the next long-desired step in your career, expand your responsibilities, and get a pay raise. But only on the condition that you know how to tap into its potential to give a boost to your career.
Kerstin Knap, director of human resources at oil company Puma Energy and a graduate of WU Executive Academy’s Global Executive MBA, and Andreas Landgrebe, managing partner of Boyden Executive Search, explain what really matters to ensure that an MBA diploma of your career progression is the desired impetus.
From the President of Kazakhstan Energy Business, through the General Manager of a paper processing industry group to a cancer researcher at a pharmaceutical company in Austria – the students’ summaries of this year’s WU Executive Academy Global Executive MBA program are as diverse as their origins. Participants attend the program with different motives – because they want to deepen their knowledge of business administration and management, because they want to promote their personal development, or because they hope to be able to use the MBA (Master of Business Administration) diploma as a boost in their careers.
“The WU Executive Academy Global Executive MBA Program provided me with the foundation I needed,” explains Kerstin Knapp, Human Resources Director at Puma Energy Oil Company, on the sidelines of a panel discussion on “MBA & Career” recently held at WU Executive Academy.
She believes that she has all the necessary qualities for a career in HR, given that she has a university degree in psychology, but “the higher you go in the corporate hierarchy, the more you are required to understand how your company works in terms of business administration. “Knapp said her MBA training helped her gain a complete understanding of the big corporate picture:” I now have a better understanding of many of the relationships in my company. “
Excessive expectations of The MBA (Master of Business Administration) education
However, those who think they have a great chance of getting a job as a senior manager or breathtaking pay raise just because they have completed an MBA program are often disproved. Kerstin Knapp says that people often have excessive expectations: “Many are pursuing an MBA degree because they are at a career standstill and expect their education to lead to a higher salary or to the next step in their careers. But an MBA does not automatically lead to better market opportunities, nor does it automatically increase your market value. “
She explains that, as a human resources specialist, her MBA degree is an indicator of other, more important assets: “As a participant in an MBA program, you earn many additional things, but the most important of these are personal development and an invaluable professional network. For me, an MBA diploma shows that you are resilient and determined. And that you want to bring about change.” According to Kerstin Knapp, the overall package is always HR first: “When I interview candidates, I want to find out from them what motivates them, what their passion is, and what their visions are. Applicants need to know what they want. “ Read about Candidates management on BVOP.org, https://bvop.org/learn/candidatesonboardingoffboarding/
Study your career trends
Andreas Landgrebe, the managing partner of Boyden Executive Search, has a similar view. “An MBA degree is a good bonus, but it does not guarantee that your employer will pay you an additional $ 10,000 or $ 20,000 a year. Your MBA education should be a real asset to your company, for example, in terms of its innovative potential. “His very personal advice:” You need to research your career trends. In this context and provided you approach it properly, your MBA can help you focus on and develop an in-depth understanding of trends in your industry. “As a bank manager, for example, you can write a master’s thesis in digital banking and innovative business models, thus creating value for your company. According to Andreas Landgrebe, the main reason to enroll in an MBA should never be to get a diploma, but to “expand your horizon”.
Kerstin Knapp also recommends that students make conscious use of the experience they gain during their MBA studies to stimulate their personal development, to reflect, to gain greater clarity on career issues, to work on their models, and, last but not least, to gather feedback – both as individuals and as leaders – from their colleagues.
The best way to take advantage of the knowledge gained during the MBA program immediately is to apply it to your work while you are still studying. And this is not the only benefit you will have. The unique international network and exciting career contacts that MBA students make during their studies are extremely valuable long-term assets, says another Global Executive MBA graduate, Andreas Huber, Chief Operating Officer at 3TS Capital Partners: “In the first year after graduation I still remembered what we learned during the statistics module. In the second year, I remembered that there was a statistics module. But today, what matters to me is who I went to with the statistics module. “
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And remember. Project management is a trendy professional today. Doesn’t matter if you choose project management or MBA for your future career development, you are going to make a nice move.