Which is better CA or an MBA
MBA and what you should know about it
MBA: You should know that about it
A Master of Business Administration, or MBA for short, can be a good career booster: Here you can find out who it can be for and what you need to know about studying, costs and financing.
MBA - all information at a glance
Who is an MBA for?
A Master of Business Administration degree primarily stimulates the interest of those employees who have already started their careers and want to take them to the next level. During an MBA course, leadership and management skills are taught and specialist knowledge and intercultural skills are promoted. In addition, an MBA degree can also promote personal development. Important learning experiences are gathered, especially in the area of team building and the management of leadership tasks.
An MBA course is therefore aimed at employees:
- who aspire to a management position in the company
- who want to gain their knowledge and skills in all important areas of the company
- who want to build a network
- who are aiming for a part-time program with medium or high professional experience
When choosing an MBA program, it is not only important to clarify whether you want to complete a general general management degree or specialize with a major. You also have to make a decision about the respective study variant, which mostly depends on your professional and private life. In addition to traditional full-time studies, business schools offer a wide variety of part-time programs and also so-called online studies or distance learning programs.
Information on MBA programs
There are many ways to find out more about MBA programs. It usually starts with research on the Internet. Websites like www.mba.de help to get an overview of which programs are available.
Events where you can find out more about the different programs can also be very helpful.
An example would be the Access MBA One-to-One Tour. In contrast to a regular education fair, motivated and qualified interested parties have the opportunity to discuss their educational expectations and professional plans individually with the directors of high-ranking international business schools.
In addition to getting to know the programs and the opportunity to have initial one-on-one discussions with the heads of the admissions departments to answer specific questions, workshops and preparations for the GMAT test are also offered there, as well as scholarship opportunities. The next event, which this year will be called Online formatwill be offered on February 11, 2021 instead (To register for free, click here: Register now)
Special MBA programs
Part-time studies do not have a serious impact on the existing career and its degree will certainly leave an employer with more than just a good impression - it is also a powerful argument in future salary negotiations! It is best for working people who want to keep doing their job. Lessons usually take place in the evenings or on weekends. Many business schools offer programs in both full-time and part-time modes. In some cases, however, the part-time programs contain fewer courses than their full-time counterparts and they only convey general basic knowledge without the possibility of specialization. Others deal with the same issues as full-time programs, but the duration of such training can be extended over a longer period of time.
In Germany, part-time programs last an average of 23 months. Part-time programs are particularly popular with participants who, despite their studies, cannot - or do not want to - do without their job. For those who want to organize their time even more individually, online studies are recommended.
The online course (distance learning)
For this study variant, you need good internet access and a certain affinity for online media and virtual communication channels. The course is characterized by the following features and content:
- Case studies
- Online debates
- Mandatory stays on campus
- Online learning platforms
- Video conferencing (live lessons)
- Blended learning (online and face-to-face teaching)
- Classic e-learning
In this way it is possible to be fully employed and still be able to participate in the learning process. In addition, in most cases online studies are the cheaper alternative to a full-time MBA program. Due to its high flexibility, an online MBA is also very well suited for employees who want to stay in their company and pursue the goal of moving to a higher or management position.
However, online studies also have various disadvantages: On the one hand, there is no social component - there is little exchange with other students and the network concept is not as pronounced here either. On the other hand, you need great eagerness to learn, because the subject matter to be mastered is usually very extensive. All content has to be developed by yourself and the preparation for the exams is completely self-directed.
Regardless of which study variant you ultimately decide on: With an MBA degree you show (to the employer and yourself) not only motivation and the willingness for professional and personal development. You also expand your social and professional network and increase your own value on the job market through a successful degree.
Costs and Financing
If the decision has been made for a certain variant of the Master of Business Administration course, the question of financing often arises, because in most cases this cannot be paid out of the postage. In German-speaking countries (Germany, Austria, Switzerland) the costs are generally between 20,000 and 50,000 euros. They always vary in relation to the particular school one wants to study at and in relation to the form of the program.
For example, the cost of a part-time MBA at Mannheim Business School is 39,000 euros. The course lasts 24 months and at least three years of professional experience are required. In comparison, the Executive MBA course at the Lorange Institute in Switzerland costs 57,000 euros and requires five years of professional experience in a management position. But in addition to all these costs, there is the possibility of getting the MBA course financed, at least in part. It is best to inquire about this beforehand with your employer and research the institutes at which scholarships are awarded. The site mystipedium.de, for example, can help.
With the successful completion of an MBA course, there are good chances of a higher salary, which can compensate for some of the costs incurred for the course. Some MBA graduates report a salary increase of up to 153 percent.
In summary, it can be said that part-time programs are often more flexible in terms of time than other MBA programs and can therefore be better reconciled with full-time employment. An online MBA is particularly useful if you have a full job. The only difference to the part-time MBA lies with the students themselves - namely in the decision which form of learning they prefer personally.
Dr. Michael Schürz and Teresa Mayr are with employees and authors at www.mba.de.
* Article would be supplemented by the editor
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