Professionals who take master of business administration
qualifications are motivated primarily by the prospects of material
success and will make significant sacrifices to achieve
it.
A survey of 40,000 prospective MBA students revealed that 68% were
motivated by the prospects of boosting their earning potential and
securing highly paid jobs.
This was second only to job satisfaction, rated by 69% of
respondents, as a reason for studying for an MBA.
Nearly 50% of MBA candidates expected to earn 50,000 in their first
job after gaining the qualification, and 21% expected to earn more
than 70,000, the survey by World MBA Tour revealed.
Fifty eight per cent expected to be working as a director of a
major company within 10 years, and 55% thought they would be
running their own businesses within the same timeframe.
Only 3% of MBA candidates expected to downshift to achieve a better
balance between their work and home lives.
Candidates are not afraid to put in long hours to achieve their
goals. Fifty nine per cent said the would work more than 50 hours a
week during their studies, and 10% expected to be working more than
70 hours a week.
"Most MBA candidates are still looking for a healthy return on
their investment in time, money and resources," said Nunzio
Quacqarelli, director of World MBA tour.
Demand for staff with MBAs has returned to the high levels of the
late 1990s, and salaries are rising quickly, with the average
starting package for new MBAs this year likely to be worth about
60,000, he said.