By Noelia García, a journalist at El Economista
Postgraduate studies are an ‘essential requirement’ of 6% of graduate employment offers posted in Spain, according to Infoempleo. The higher the level of qualification, the greater the salary. In such a competitive employment market, having a university degree is not enough to find world. The solution is to stand out from the rest and have a command of various languages. The hen that lays the golden eggs is the MBA, which can double a professional’s salary.
The first business school in the world was the Wharton School in the United States. However, the first to run an MBA program was the Tuck School of Business in. Since then, business schools have constantly reinvented themselves to adapt to the market and new trends. They modify their contents and methodologies to meet the changing features of the demand for professionals. They change their tuition programs to train responsible business leaders who do not focus solely on maximizing profits.
They now provide interdisciplinary classes focusing on the organizational perspectives of the different market agents. The case study method no longer simply involves summaries of the business situation, but rather students analyse real cases with original data. Another feature is leadership development, which is a key component acquired through exercises and experiences that develop self-awareness and an appreciation of how colleagues empathize with each other. Other important aspects include ethical concepts, a global overview, enhanced flexibility and adaptability in terms of the way of learning. In general, they are emphasizing the link between innovation and creativity, while leading the way in relation to applying new technologies.
For decades, the MBA was the leading Master program and it set the standard for many generations. It was not a fleeting fashion but rather a necessity. However, some business schools are being far more creative when it comes to taking full advantage of talent outside of the traditional MBA channel.
Nowadays, MBA programs are more global than ever before, Increasing internationalization has led to a dramatic shift in perspectives. Nevertheless, there are still business schools that use pedagogical approaches designed to interpret management as a science, giving lectures and teaching cases on issues taken from disciplinary silos. Business schools have a unique opportunity to play a part in the intellectual and moral development of tomorrow’s business leaders. As such, programs such as EAE’s strive to teach students to think in a more reflexive and holistic way.
MBAs today are no longer a general business complement, but rather they have become specialized in each professional profile: Commercial Management and Marketing, Tourism Company Management, Human Resources Management, Information System Management, Financial Management, Public Management, Masters in Administration specializing in Strategy and Leadership, Economics in Finance, Marketing and Communications. There are also personalized programs in which courses can be designed in line with the student’s own interests.
Despite the fact that may companies do not want to invest money in training, professionals are reacting in the opposite way, convinced that the scarcity of employment opportunities requires them to perfect their curriculum more than ever before. As a result, business schools are also offering extremely flexible financing plans adapted to each candidate. Adaptation is a key factor in such a competitive environment, with almost a hundred education institutions offering extremely attractive programs. As such, offering good prices, a great academic faculty, an innovative modern and entrepreneurial learning methodology, a good alumni network, internationalization and flexibility will be the factors that set a school apart from the rest and attract the brightest talent.
According to the annual ranking published by the British newspaper The Financial Times, the United Kingdom and Spain “have the most internationally diverse programs, with 85% and 75% of participants coming from abroad, respectively”. Barcelona is the European city with the large range of business schools on offer.