Two-thirds of MBAs from across the globe are “fairly satisfied” or “very satisfied” with their degrees, according to research released this week by the Association of MBAs and Business Graduation Association. The groups’ International MBA Survey polled 752 current MBA students and 2,110 MBA graduates and found that MBAs are generally pleased with the degree and its impact on their careers.
Some 88% of respondents said they “strongly agree” or “tend to agree” that they “gained substantially more skills” to help them do better in business. Interestingly, another 82% either strongly agreed or tended to agree that the MBA helped them become more mentally resilient. Three-quarters (74%) agreed they’ve been able to develop the business-related skills they’ve wanted.
Another 72% agreed the MBA made them more confident in working abroad. And 65% agreed the MBA helped them improve their professional network “considerably” while 64% said the MBA helped them feel equipped to reach the salary they’d like to achieve in the future.
MORE SKILLS FOR BETTER BUSINESS AND MENTAL RESILIENCY TOP TWO AREAS FOR MBA GRADUATES
The numbers were even better among respondents graduating within a year of completing the survey. Nine out of 10 recently graduated MBAs agreed the MBA helped them gain substantially more skills to “do business better.” And 83% reported they agreed the skills learned during the MBA will help them be more mentally resilient.
Three-quarters agreed they have been able to develop “all the business-related skills” they wanted. Nearly three-quarters (74%), said the MBA helped them gain confidence in working abroad in the future. And 72% said they’ve been able to improve their professional network considerably.
However, just two-thirds (66%) said they felt equipped to reach the future salary they hope to achieve.
“Overall, graduates agreed that their motivations for completing the MBA had been satisfied,” says David Woods-Hale, the report’s author and director of marketing and communications at the AMBA & BGA.
MORE THAN TWO-THIRDS REPORT GREATER CONFIDENCE POST-MBA
Despite a tough 2020 job market, volatile economy, and global pandemic that has wreaked major havoc on higher education, the MBA continues to show its resilience and value. GMAC’s annual employer survey showed renewed confidence for 2021 MBA hiring. And MBA applications at many top schools have been soaring, bucking a trend of decreasing apps.
The AMBA & BGA’s International MBA Survey points to some reasons why the MBA might be remaining a popular option. More than two-thirds of respondents (68%) reported feeling more confident about themselves after completing the MBA. And 62% reported being better at “resolving problems by finding new solutions.” More than half of respondents also said the MBA helped them feel more prepared to work in a “high competitive environment” and be “better at dealing with people professionally.”
However, much lower percentages of MBAs reported feeling like the MBA would help accelerate their career (35%), help them earn “substantially more money” 27%, or be “better placed” at launching their own business (24%).