The key to success?
Things were definitely easier a decade ago. A good command of English and any university degree almost certainly guaranteed a good position in a reputable company. Having an MBA degree was basically a key - the holder of that title was sure to be given a senior managerial position.
Still a key?
So how do the three capital letters behind your name help in a business career? Does MBA still open all doors?
"It is a good step in a career, for the employer an MBA is a confirmation of the candidate's world class skills. It prepares people who are to manage companies, and hold the most responsible positions," says Przemysław Rey of Jobpilot, the largest internet job agency in Europe. However, one has to bear in mind that in Poland not all MBAs are equal. The Warsaw Business Journal's career expert Matthew Tebeau, who is also the managing director of the Polish office of Ray & Berndtson recruitment company, points out that although there are a few good programs in Poland many universities only have partnerships with second or third rate American universities. "You have to look at the quality of the university," Tebeau says.
Educational aid
As the head of the marketing faculty of Warsaw University's School of Management, Prof Grzegorz Karasiewicz, explained MBA studies are particularly designed for those who have already played a role in business, with real life job experience, who want to supplement or complete their knowledge in the field of management. "It is very important for those who have no economic, administration or management educational background," he added.
The importance of holding an MBA degree depends largely on both the student's or graduate's current position and their intended career path. The title is much more important and more useful in senior positions than in junior ones. "If you are going to be a chief executive it is definitely an advantage to hold an MBA title, but if you are going to be a mid-level director or an ordinary sales director then there isn't that much of a need for it," the director of Quantum Search & Solutions Craig Bromfield explained.
Using the skills
The importance of MBA also differs with the field that you are working in. "It's more important in finance related functions, and it's less important in less quantitative work," Tebeau said.
He highlights another interesting fact: "People with MBA often feel underutilized." Since businesses in Poland are much smaller and less complex than in the west, the MBA graduates' skills can't be used to the fullest. From a businessperson's point of view, a lot of entrepreneurs run small businesses and an MBA would help them a great deal. However, businesses in Poland are growing, are bigger than they used to be, which makes the MBA more valuable. Jobpilot's Rey agrees with this. He recalls that while in the 1990s having an MBA made the graduate a CEO, now one is more likely to become a department manager. "The standards of the market are growing and more and more employers expect candidates for mid-level positions to boast an MBA diploma," he said.
Payback time
Then there is the financial side - many MBA graduates have higher wage expectations. In the US or the UK, Bromfield claims, a graduate can count on a 15,000-20,000 wage rise in dollars or pounds. But that's not the case in Poland. However, claims that employers are afraid to hire people with MBA because of their higher expectations are dismissed. "The best companies know that it is money well invested," Rey said.
Career balance
Tebeau claims that an MBA title is not a key step in becoming a general manager. "People become CEOs and general managers because of their skills and experience not just because they have an MBA," he explained. Bromfield agrees with this perspective, stressing the importance of real life work experience. Bromfield revealed that of the twenty customers Quantum is currently working with, only two had asked specifically for candidates with an MBA.
Employers in Poland tend to take the view that the title is not everything and other factors are equally important. "There are a lot of ways to get the skills you need, MBA courses are one of them," Tebeau said.
Still a key?
So how do the three capital letters behind your name help in a business career? Does MBA still open all doors?
"It is a good step in a career, for the employer an MBA is a confirmation of the candidate's world class skills. It prepares people who are to manage companies, and hold the most responsible positions," says Przemysław Rey of Jobpilot, the largest internet job agency in Europe. However, one has to bear in mind that in Poland not all MBAs are equal. The Warsaw Business Journal's career expert Matthew Tebeau, who is also the managing director of the Polish office of Ray & Berndtson recruitment company, points out that although there are a few good programs in Poland many universities only have partnerships with second or third rate American universities. "You have to look at the quality of the university," Tebeau says.
Educational aid
As the head of the marketing faculty of Warsaw University's School of Management, Prof Grzegorz Karasiewicz, explained MBA studies are particularly designed for those who have already played a role in business, with real life job experience, who want to supplement or complete their knowledge in the field of management. "It is very important for those who have no economic, administration or management educational background," he added.
The importance of holding an MBA degree depends largely on both the student's or graduate's current position and their intended career path. The title is much more important and more useful in senior positions than in junior ones. "If you are going to be a chief executive it is definitely an advantage to hold an MBA title, but if you are going to be a mid-level director or an ordinary sales director then there isn't that much of a need for it," the director of Quantum Search & Solutions Craig Bromfield explained.
Using the skills
The importance of MBA also differs with the field that you are working in. "It's more important in finance related functions, and it's less important in less quantitative work," Tebeau said.
He highlights another interesting fact: "People with MBA often feel underutilized." Since businesses in Poland are much smaller and less complex than in the west, the MBA graduates' skills can't be used to the fullest. From a businessperson's point of view, a lot of entrepreneurs run small businesses and an MBA would help them a great deal. However, businesses in Poland are growing, are bigger than they used to be, which makes the MBA more valuable. Jobpilot's Rey agrees with this. He recalls that while in the 1990s having an MBA made the graduate a CEO, now one is more likely to become a department manager. "The standards of the market are growing and more and more employers expect candidates for mid-level positions to boast an MBA diploma," he said.
Payback time
Then there is the financial side - many MBA graduates have higher wage expectations. In the US or the UK, Bromfield claims, a graduate can count on a 15,000-20,000 wage rise in dollars or pounds. But that's not the case in Poland. However, claims that employers are afraid to hire people with MBA because of their higher expectations are dismissed. "The best companies know that it is money well invested," Rey said.
Career balance
Tebeau claims that an MBA title is not a key step in becoming a general manager. "People become CEOs and general managers because of their skills and experience not just because they have an MBA," he explained. Bromfield agrees with this perspective, stressing the importance of real life work experience. Bromfield revealed that of the twenty customers Quantum is currently working with, only two had asked specifically for candidates with an MBA.
Employers in Poland tend to take the view that the title is not everything and other factors are equally important. "There are a lot of ways to get the skills you need, MBA courses are one of them," Tebeau said.
