How an MBA can help in a career changeChen Wan Lim
According to the Graduate Management Admission Council (GMAC), which administers the GMAT exam, 64% of MBAs who graduated in 2012 entered a new industry, up from 55% in 2011 and 52% in 2010. Changing career functions from being an internal auditor to a financial controller is a big decision, but changing industries from a software company to an investment bank is an even bigger decision with bigger risks. Although business schools and MBA qualifications might not be able to guarantee you with a seamless transition, it might, up to a certain extend assist in making that transition happen. According to a study reported in the Journal of Management Development 2001, 65.7% of Malaysian companies surveyed reported that it has employees that had taken their own initiatives in obtaining an MBA qualification – which shows that an MBA qualification is highly valued and sought after. So how can an MBA qualification help in a career change?
Enhanced soft skills
In a study conducted by the University of Malaya, more than 70% of companies surveyed reported that employees with MBA qualifications have very satisfactory soft skills such as oral presentation, people skills, leadership skills, management skills, ability to work within a team and working ethics. As MBA courses require candidate to interact, communicate and to articulate their ideas through the various case studies and discussions, candidates can expect to enhance their soft skills and be more articulate in decision making. These soft skills could assist candidates in transitioning from a technical role to a managerial role.
MBA courses are a meeting spot where candidates from all walks of life meet, discuss, share ideas and interact – this is where people get connected and relationships are built. ABC News, USA reported that a staggering 80% of jobs are landed through networking. As such, if a candidate is looking at switching roles, trying on a new vocation or simply just wanting to move up, then a year or two at a grad school could just open doors to new opportunities.
Enhanced paper qualifications
With intensifying competition, the pool of qualified individuals vying for a job is getting larger. Coupled with relevant working experience, an MBA qualification might just help a potential candidate in getting that new sought after role. In 2015, Amazon hired 110 MBA graduates, beating Microsoft, Google and Apple, being the biggest employer of MBA graduates in the tech industry for 2015! Amazon noted that the MBA graduates are hired for eight different roles ranging from rotations in the Amazon Fashion retail team, to product managers in Amazon Web Services.
Regardless if a candidate is seeking a career enhancement to a higher managerial role or perhaps to even change industries, an MBA is undoubtedly a great choice to get started with that goal. Contact STUDYMASTERS.MY for more professional advice on how to achieve your goals.
Note to editor: Source of research – Journal of Management Development 2001, Management’s Perception of MBA Graduates in Malaysia; Angeline Tay; University of Malaya Kuala Lumpur.