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Short for Master of Business Administration, the MBA is considered the world's most important business management qualification. But is this prestigious degree still worthy of pursuing? Well, it depends what you want to use it for.
Traditionally when you hear of MBA you instantly think that your career will be heightened and your salary will increase, that's true. Studies show that the average annual pre-MBA salary is R297 731 and will jump to R393 783 once one gets the degree. The current annual average salary starts from R560 285.
You will probably be paid more if you go to a business schools that employers prefer.
Heightened career and salary increase are not always a given. An MBA is now common. The prestige and exclusivity it had has diminished and the value of pursuing it has come under scrutiny given the substantial investment of time and money one has to incur in order to get the degree. Pursuing an MBA will set you back by at least R200 000.
Top that with the fact that it is no longer a differentiator for professionals who are looking to make themselves more desirable to employers and the fact that the qualification is no longer as sought-after as it was in its heydays, an MBA may not be worth pursuing, after all it can only secure the interview and not the job itself.
But if you plan to work in a business-related field in management, or as a company founder then it may be worth pursuing. For those working in other industries, unless you are in management or leadership roles, it may not be as useful as you think.
If you are thinking of applying your chances of acceptance are as follows:
Not all MBA degrees are created equal and an MBA like most post graduate degrees will always add value to your career, so it is all up to you and what you will make out of it that will determine its worth. We are a Specialist Recruitment Company with over 30 years of experience. Visit our website to learn how we can take your career to the next level, with or without an MBA.