Education, training and development
Postgraduate Study
To be the best in business it is naturally assumed further study is essential and you would be right. The route of postgraduate study remains ever popular.
Whilst some of you may have binned the revision notes and booked the next flight to some far flung destination, some of you remain at home researching your next route of study.
With graduates earning less than their debts, taking on postgraduate study can seem a promising option, eventually leading to higher earnings in the long run.
The words of a dragon
Dragon’s Den's star, James Caan, serial entrepreneur and CEO of the private equity firm Hamilton Bradshaw, studied towards an MBA at Harvard and comprehends the importance of postgraduate study. He advises graduates:
“Postgraduate study is a great way of getting a greater understanding of theories which you will be putting into practice within the business world. An MBA, for example, is a credible and valuable qualification to have behind you. I found my time at Harvard allowed me to challenge theories. The grounding this extra study gives you is invaluable for future endeavours. I am a great believer that if you do something, you should do it well.”
Postgraduate study has become more popular than ever with those who can study either part-time or full-time. The vast choice of courses available can allow graduates to work full-time whilst pursuing an extra qualification. Weigh up your options. Do you have the time and commitment to spend a year or more of your life studying?
Financially it can be a drain on the bank balance. With student debt looming over your head, think about how you plan to cover the cost of another qualification.
“Pursuing a Masters degree can often be the deciding factor that tips the scales in the favour of one candidate over another during the interview process,” says Susan Roth, Director, MSc Programmes, Cass Business School.
“MSc courses equip students with specialist financial knowledge that they have not received as an undergraduate. The reason for this is because at the Masters level, students are taught by more practitioners than theorists, who provide students with an understanding, not only of complex financial topics, but with an insight into the working world in general.”
Masters in Business Administration (MBA)
Once in the business world, a Masters in Business Administration (MBA) can be a powerful qualification to elevate your knowledge. The internationally recognised postgraduate qualification is one studied by those with typically three or more years’ managerial experience.
“Employers value the MBA as a guarantee of all-round business skills and knowledge at a strategic level. In some areas, such as investment banking and consultancy, the MBA is often a ‘must-have’, explains Natalie Clarke, Marketing Manager at MBA World.
The benefits of studying an MBA are many; the financial return in terms of salary increases and the impact on career progression are perhaps the most obvious. Evidence from the Association of MBAs’ Careers Survey shows that MBA students can expect their salary to increase by around 20% on graduation and by 53% within three to five years’ of graduation.
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