The MBA degree is on the rise. According to the American Management Association, a record 1.8 million MBAs were conferred in 2016, an increase of over 15% from the previous year. Demand for these highly-skilled professionals continues to grow at a rapid pace, with nearly 20 000 new bachelor’s and master’s degree programs in business launched globally between 2010 and 2013 alone. This surge in demand has led some schools to rapidly expand their undergraduate programs while also introducing new courses, subjects and formats along with higher levels of specialization within their existing curriculum’s. This article looks at 10 key takeaways from the recent report by global management consulting firm IHS which predicted that by 2020, over half of all senior managerial roles will be held by MBAs.
What Does an MBA Degree Include?
The key factors which set apart a successful business school degree from others are programmatic accreditation, an emphasis on career-focused learning, a heavy weight on research and the ability to mentor students. The top-ranking business schools in the U.S. and Europe all pride themselves on the breadth of their academic offerings, with many boasting 15+ departments.
Why You Need an MBA Degree — and How to Get one
The on-campus learning environment of a top business school can certainly be appealing, but for many, it is not nearly enough to justify the massive financial investment needed to complete the bachelor’s degree. International and online learning, as well as the adoption of innovative new courses and formats, are increasing at a rapid pace, making it possible to complete the degree entirely online.
The Future of Management
The future of management is bright, according to the report by IHS. The number of executives who hold top management positions is expected to grow by 50% over the next 9 years, while the number of managers will increase by around 15%.
The Importance of Leadership and management experience
According to the report, companies are looking for managers with both leadership and managerial experience, which requires a balance of knowledge, skills and experience that a business school degree does not typically provide.
Key Takeaways
The demand for highly-skilled business professionals is expected to continue growing at a rapid pace, with nearly 20 000 new bachelor’s and master’s degree programs in business launched globally between 2010 and 2013 alone. The rise of the MBA in business has been rapid, and many schools have responded by rapidly expanding their undergraduate programs. The report forecasts that by 2020, over half of all senior managerial roles will be held by MBAs.