Master in Business Administration or MBA. So it is called the title has become the gateway to the select club of company managers worldwide. No self-respecting corporation currently not ask for one at the time of signing the executive to govern their designs. Therefore, in the last decade it has increased both the number of programs such as business schools that teach. The market has been flooded MBA, to the point of trivializing its content and lose some of its traditional value. Or rather, its mark as a guarantee of professional success.
Meanwhile, the prices of these managers most reputable research centers in the world, including the United States, increased by 7% annually since 2005, accumulating a rise of 62% since that year. And questioning whether it really pays an MBA with cost overruns and the dwindling chances of finding a job or progress in today. You have ceased to be this type of training the goose that lays the golden eggs?
The MBA is no longer synonymous with employment, unless you go to the best American universities such as Harvard, Wharton, Stanford or MIT. And maybe in some European and London Business School and Insead. In the three Spanish business schools it is not because the selection process is not as comprehensive as in the US centers. Harvard, for example, 36,000 to 2,600 vehicles applications are presented. Is that prior selection process which means that companies are interested in hiring MBA graduates, "says Miguel Angel Zuil responsible for Boyden in Spain, the company pioneered the scouting world. In his view, corporations are clearly identified to the best students in each promotion, 10%, and the percentage of students standing finish -the brightest MBA adds Zuil-, taking into account the difficulties It presents today the labor market in Spain and in most Western economies.
Martin Boehm, Dean of IE Business School programs, says the MBA does not guarantee a job, but it helps to have a better career progression. Sometimes, the impact on the pay is not immediate, it takes 5 or 10 years after take the course. Boehm points out that in the best business schools in the world, investment (59,900 euros in the case of IE, after increasing by 62% since 2003) is recovered in the course of three or four years. The salary of their graduates is around 70,000 per year.
The director of IESE racing ensures that, in the complicated Spanish labor market, "Business schools have been forced to internationalize, to fish in other fishing grounds." It refers to emerging countries where managers trained in Spain are highly valued, such as Brazil, Singapore and Switzerland, where wages continue to rise both; as sectors "where job creation is not a rarity." "A few years ago, 40% of MBA graduates were placed in investment banking; with the crisis that percentage has fallen to 20% and are now Internet companies like Google or Facebook, or pharmaceutical firms or luxury goods, including Inditex and Mango, which previously recruited our students, that replaced ". Before Spain had triggered the unemployment rate, companies located in the country absorbed half of the MBA students and now only keep 20%, highlights Muñoz. The rest will go abroad, which explains that salaries of graduates continue to rise. IESE graduates earn 64% more than a decade and MBA prices have increased by 34% in this period.
Francesco Liistro also wanted to turn around his career (after having restructured the family business in Italy and created a consulting) "much later than normal, at age 37". And he opted for ESADE and, above all, by Barcelona. "After 15 days of finishing the MBA and working in a family office, where I take care of reviving companies in crisis, I do the work I wanted to do," said the Sicilian director. In his view, "the MBA does not guarantee you anything if you do not put anything ahead of you to find work." In signing it works Liistro, all employees have MBA, which "has become a ticket to a club. It does not make a person successful, but the push to success. Although there are too many business schools and their student selection criteria they have been relaxed now. They had to be no more than 50 worldwide to form 10% of the professionals who are going to be those who run companies. "
For Pecci Rosario Garcia leads to Germany, where since November working on Grünenthal pharmaceutical. When asked if it compensates to a master, says specifically that other and wields its results: "In June, when I finished the Masters in ESCP Europe, was internal auditor in Natural Gas and am now senior manager and my salary has doubled." However, not all progression attributed to this program (if executive, with more executive experience). Two runs, three languages and have seven years of experience.
For Pecci Rosario Garcia leads to Germany, where since November working on Grünenthal pharmaceutical. When asked if it compensates to a master, says specifically that other and wields its results: "In June, when I finished the Masters in ESCP Europe, was internal auditor in Natural Gas and am now senior manager and my salary has doubled." However, not all progression attributed to this program (if executive, with more executive experience). Two runs, three languages and have seven years of experience.
The conclusion is clear: "Investing in an MBA only justified if done in one of the best business schools in the world; otherwise it is a waste of money. An unemployed does not guarantee a job. And, with regard to wages, the value of the MBA is adjusting downward, "said Roberto Garcia, CEO of outplacement firm GRI, used to dealing with those affected by layoffs. The CEO of the recruitment firm Hays, Christopher Dottie adds: "To think that a company will bet for you to do an MBA means not living on the labor market today. Companies now valued experience the potential of an executive. "