An MBA or Master’s Degree for Career Advancement
In terms of careers, the job market continues to attribute higher chances to people with an MBA or master’s degree.
The job market also confirms that there are particularly diverse options for people with a master’s or MBA degree. Since postgraduate training includes both a master’s and an MBA, the labor market situation adapts to both qualifications.
Whether an employer prefers an employee with an MBA or a master’s degree usually depends on the position to be filled and the company in question. Some companies see both qualifications on an equal footing and have no prejudices against one or the other degree.
We are primarily looking for employees with specialized training and relevant professional experience. Others prefer MBAs because they bring a special attitude and a certain drive to the work. However, all employers have an idea of the future employees in common: They should master special skills and abilities of the respective branch, should be socially competent, have research knowledge and the ability to find and develop new concepts and ideas as well as motivated to do the job.
The MBA qualification has gained popularity and awareness among employers in recent years. And in the future, MBA and Master degrees will have an increasing presence and widespread use. Karen Dowd, an MBA recruiting expert from North America, says: “Wherever new trades and branches of industry arise, there seem to be key roles for MBAs that, on the one hand, shape industry and, on the other hand, help companies successfully compete against each other. ”
Salaries in the various industries mostly reflect the demand for employees. The increase in salaries as a global trend is also indicative of the struggle between the best and most brilliant MBA and master graduates worldwide. Since international companies offer higher salaries on average (around $ 95,000), local companies are forced to follow this trend in order to attract equally talented students to their own company. In general, it can be said that the salary differences between employees with an MBA or a master’s degree and employees without a title are widening – in some industries, the average is even around 81%.
In areas such as banking, consulting, production and marketing, untitled employees earn much less in many cases. Salaries for MBA and Master graduates are highest in North America and Europe, followed by Asia (Pacific). In Europe, it is the UK that pays the most for an MBA or Masters. If you are considering moving abroad to work there, it is recommended that you first find out the nominal wages of the company and region you are targeting.
If you don’t have a title, the financial outlook is not as bright as with this coveted business title. Recently, however, masters and PhD degrees have also increased in reputation among employers. In general, postgraduate degrees are becoming increasingly popular in international companies. Employers are also increasingly willing to pay more financially for those employees who have a good education with a serious background and some years of professional experience.
With a master’s degree in health and pharmacy, employees earn much more than with less education. The same applies to the energy sector, the telecommunications sector, the transport sector and other special sectors. This trend will continue in the near future. In our globalized economy, the demand for MBA and Master graduates will hardly decrease because they can bring much more extensive and / or more specific skills to international companies.