Suppose you are attracted by the idea of starting your own business or aspiring to a management or leadership position. In that case, the MBA (or Master of Business Administration, for its acronym in English) is undoubtedly the ideal postgraduate option even for graduates in non-business careers.
An MBA will provide the student with a global and strategic vision of the most relevant areas of a company (from Finance and Accounting to Human Resources, Marketing or Production), training in soft skills (soft skills such as leadership skills, self-control, and orientation to the client) and a specialization that will allow them to advance in their professional career.
Nine out of 10 graduates have secured employment after completing these studies, and more than 72% do so in a field related to the content of the master’s degree, according to the Ranking of Online Higher Education Institutions (FSO) of Habla Hispana 2019 prepared by the Hamilton Global Intelligence consultancy.
Opting for an online MBA will allow greater schedule flexibility and ease of reconciliation and constant updating, personalized training, and international and cultural diversity. Of course, without giving up high-quality training at a significantly lower price than in-person classes: within the programs included in the FSO ranking, prices fluctuate between 1,595 euros for the European MBA of the European Institute of Business Studies ( INESEM) at 20,000 for the Executive MBA at ESADE.
Of course, being at a distance will also demand a high degree of commitment and self-management of time. As an omnipresent objective, a professional promotion will also entail a salary increase of 31.6% on average, according to data from the same study.
Now, how to choose a good online master’s degree ?“Two fundamental aspects to know if the training will be of quality are the employability rate and the teaching methodology. A good follow-up of the students, combining the theoretical classes with the practical ones and using elements of methodological support indicates that it is an appropriate MBA in which to pursue higher studies ”, says Sebastián Fernández de Lara, managing partner of Hamilton.
We should not forget to analyze the study program carefully, but neither to “know the experience of the former students, inform us about the faculty, find out if the center has a job bank or not and if we can share experiences with colleagues from different sectors or countries,” adds Joan Ramón Castelló, Marketing Director of the magister study search engine.
For this reason, it is essential that the master’s degrees clearly and transparently show the most up-to-date information possible on these aspects, the reputation of said higher education, and the digitization of the institution.
|1. INESEM European MBA||1,595 euros||19|
|2. EOBS Master||2,400 euros||16|
|3. Master’s Degree University of the Isthmus||3,030 euros||25|
|4. Master UA Chihuahua||4,096 euros||18|
|5. VIU Master||4,500 euros||12|
|6. Master’s Degree at Tecmilenio University||4,742 euros||9|
|7. Master’s degree UNAD||6,344 euros||22|
|8. UPAEP Master’s Degree||6,550 euros||13|
|9. Master La Salle||7,900 euros||eleven|
|10. Master’s degree in European Universities||8,000 euros||fifteen|
Another aspect to take into account is the degree of satisfaction of students who have completed an online MBA: for 92% of them (43% of women and 57% of men), according to the data collected in the preparation of the ranking FSO, the master’s degree exceeded their expectations thanks to a type of training in which the study of practical cases in real situations predominates, and an online environment with tools of all kinds: active discussion forums, telepresence classes (which are recorded on the platform ) and even simulators for students to organize into groups and compete with each other.
The aforementioned FSO ranking takes into consideration more than 120 indicators that assess not only the methodology used (which represents 50% of the score awarded) but also the reputation, online transparency, and social extension of the institution (35% ), as well as its faculty and students (15%). As a result, 25 MBA programs from Spain, Latin America, and the United States that in the 2019 edition have brought together five Spanish entities in the top five positions: the Open University of Catalonia (UOC), ESADE Business School, OBS Business School, the University La Rioja International (UNIR) and the European Postgraduate Institute. Meanwhile, the Financial Times chose the IESE business school’s MBA as the best of its kind in Spain and the fourth in Europe.
The distance MBAs that will stand out in 2020
From general MBAs to those specialized in specific areas; from Executive to global or international; of the titles proper to the officers; from the public to private programs; lasting one to two years … Faced with such a variety, it is difficult to predict which will be the most outstanding, but looking at the path traveled by each MBA is always a sure thing: “In an increasingly connected and globalized world, where New technologies allow more and more to qualify products and even people, those who can offer a better service end up succeeding and, therefore, those who accumulate the best opinions and who have better known how to insert their students into the professional market,” Assures Castelló. Low-cost MBA degrees have also been opened, such as The Power MBA, which allows you to obtain it for only € 499 and 15 minutes a day, Monday through Friday, during a single course.
Apart from having an approved degree, the requirements to be able to access one of the many available MBAs vary from center to center and depend mainly on your level of prestige: application for admission, letters of recommendation, level of languages (usually English, and often through certificates such as TOEFL or IELTS), ability tests, GMAT (Graduate Management Admission Test), professional experience of one to three years (or even more than five, in the Executive MBA) or a personal interview. And if you want more ideas, these are some of the MBAs that may come your way throughout 2020:
– Generic or specialized MBAs. The more general MBAs are aimed at recent graduates or workers with little experience and receive training related to business administration and management. Among them, those of UNIR, ESNECA, or the School of Business and Management. And on the other side of the spectrum, those that focus on a specific business field or area, such as the MBA & Master in Marketing and Business Management, from the ISEB, the MBA with Specialty in Oenology from IMF Business School, or the MBA in Hospitality and Tourism by Ostelea.
– Executive MBA. These are designed for active professionals with several years of experience. Their main difference is the approach since the students have advanced business management notions and responsibilities at the executive level. Apart from those already mentioned in the FSO list, many others, such as those offered by EAE Business School or the ISEB of Barcelona.
– Global / International MBA. For Fernández de Lara, these are the most innovative and complete master’s degrees: “They have a training program similar to an Executive MBA, but they are developed in an international environment, thus promoting multidisciplinary learning, global vision in business and networking. International”. The International MBA from ISEB or the MBA & Master in International Trade from Inenka Business School.