A master’s degree in business or MBA is key to professional development. But what is the best time to do it?
The formula to earn more, grow professionally, and access better positions within an organization often requires a strategy to improve training. And studying an MBA has become a good alternative. In the labor market, improving academic training is an expedited way to gain more and, by the way, increase employability.
A survey conducted by Bloomberg suggests that the faster this program is done, the better the remuneration, and determines that it is ideal to do so before the age of 30. However, Juana Mora, director of RH of Kodak Mexico, believes that to do an MBA should have at least five years of experience in a management position, so that age should be above 30.
The truth is that, independent of the moment it is done, an MBA provides new tools and knowledge that make the professional more comprehensive, says Adriana Pulido, vice president of RH for the Andean region of Schneider Electric.
Beyond the age controversy, these are some recommendations for those who want to do an MBA.
Carlos Enrique Envelier
President of Alqueria
I believe that postgraduate studies are always key for people who understand that greater cognitive development will serve them even two decades after they have been made. Of course, it is equally important to have a minimum of 3 to 5 years of experience to be able to relate to the material and take more advantage of the course.
Sara Resende Mursa
Vice President of human resources, GM Colmotores
The MBA gives a greater perspective of the business, knowledge of other organizations and the interaction with market leaders, providing greater perspective and a broad and strategic vision. My recommendation for those who wish to make it is to have at least 2 years of work experience.
1 | The selection. The search for the institution to carry out the course must be aligned with the career orientation of the professional. “The development of the career and the demand of the position are fundamental elements in the making of this decision”, considers Ariel Donato, legal director of Air Panamá.
2 | Measure advantages. Bloomberg’s survey indicates that those who do this type of programs with an advanced age have a clear disadvantage in the gap between what they earned before obtaining an MBA and what they will earn later: The increase is not substantial.
3 | Youth is imposed. Those who do an MBA at 37 years old can receive 37% more of their previous salary after completing the course. At 29 years the compensation may be higher in 81% and at 25 years the increase can reach 130%.
4 | For competitiveness. For organizations it is key to have this type of professionals, so making this decision, no doubt, becomes the gateway to greater competitiveness. “Having MBA officials allows companies to achieve competitiveness and to have avant-garde people who contribute,” considers Juan Rodríguez Medina, director of marketing and sales for GHL hotels.