Today, every business is influenced by the international economy and geopolitical events, regardless of its size. Therefore, it is crucial for working professionals, business owners, and budding entrepreneurs to take their businesses to new heights by acquiring the right skills and experience to navigate the global business environment’s challenges successfully.
And what better than an MBA course to gear up for the business landscape?
MBA courses include a range of business-related, functional domains such as Finance, Health Care Management, Sales and Marketing, Business Analytics, International Business, and Entrepreneurship, which are geared towards preparing professionals for a competitive business landscape.
Over the last three decades, business schools have updated their MBA course curriculum to cater to the growing international interdependence and attract MBA aspirants eager to take on modern business challenges. upGrad, for instance, has been pioneering in the online education sector with its international MBA courses from top business schools of Australia and the UK, among others.
Geared with an MBA degree, students are more likely to attract better global opportunities and draw higher salaries. What’s more is that they can bag jobs at top international firms like Amazon, Deloitte, Genpact, EY, Square Yards, Axis Bank, CEAT, and Yes Bank.
Global MBA programs are specially designed for individuals who already hold leadership or managerial positions but are looking to gain a competitive advantage by upskilling themselves and improving decision-making abilities. upGrad’s MBA Degree from Liverpool Business School offering specialisations in Marketing, Finance, Operations, HR, Strategy & Leadership, and Analytics.
Why should you get a global MBA?
Here’s why you should consider pursuing a global MBA program:
1. To learn effective business leadership and management
A global MBA covers a wide range of enterprise-related subjects such as accounting, marketing, finance, statistics, management, and communications that teach students in-demand skills such as leadership, communication, problem-solving abilities, critical thinking and analytical skills.
2. To improve marketability and adaptability
An international MBA enhances your marketability and adaptability on the global platform since MBA opportunities lead working professionals to continually move from one part of the world to another. This solicits a deeper understanding of functional elements, practices and cultural norms across different cultures and geographies. Equipped with such expertise, MBA graduates can leverage their knowledge and skills to devise effective and future-proof business strategies.
Global MBA programs allow you to deep-dive into different cultures and expose you to business leaders at multinational corporations, government bodies, partner schools, and small to medium-size enterprises. MBA graduates learn from new experiences to address the changing demands of the global audience rather than just confining their scope of work to their respective countries. This enhances your perspective and ability to gear organisational strengths towards a common goal.
3. To attract global opportunities and higher salaries
In the GMAC report on MBA and GME hiring trends, Eric Cornuel, Director General & CEO of EFMD in 2019, stated that MBA graduates have tremendous global opportunities ahead of them. Reinstating the value of an MBA degree, he said, “The growth of quality business schools around the world has also been met with increased employment opportunities for graduates in emerging markets and regional economies. Now is an exciting time to be pursuing an MBA and business master’s degree.”
Hiring MBA graduates on the international platform has significantly increased in recent times, with 69% of Asia-Pacific companies and 71% of European companies expressing willingness to hire international candidates.
MBA graduates attract significantly higher salaries across diverse domains, from Finance to HR, and Business Analytics to Sales and Marketing, and International Business. As per the GMAC Global MBA Graduate Survey, MBA graduates’ average base salary in the US in 2019 was $115,000 annually, which is more than double the salary professionals work a bachelor’s degree earn ($55,000).
According to PayScale, the average global salary of a Business Management professional with an MBA degree is $85,531 per year. A professional in International Finance today commands a high average salary of $104,805 annually. The pay scale for Marketing & Management, Human Resources Management, and Financial and Business Analysis professionals is also in the same range.
4. To leverage exposure to different business practices
Pursuing a global MBA means you would be studying alongside students from a diverse range of backgrounds. For instance, upGrad’s Deakin Business School MBA (Global) Degree has learners from 5+ countries worldwide. This can help you enhance your professional network and pursue global opportunities to advance in your career. The program is also World Education Services (WES) recognised, bringing you another step closer to working abroad.
Such global opportunities in MBA also offer you the kind of exposure that is not possible with a regular MBA, thus making way for extensive learning experiences and tremendous earning potential.
By obtaining certificates of completions from top universities, students gain alumni status, which provides them life-long access to a University’s resources, course materials, guest lectures, and a professional network that is crucial to succeeding in a competitive environment. upGrad’s global MBA program offers you dual alumni status by Deakin Business School and IMT Ghaziabad.
5. To leverage business analytics and drive business growth
A global MBA helps students gain a firm grasp of macro/microeconomics and the fundamentals of business and data analysis. It focuses on understanding consumer and organisation behaviour to increase the effectiveness in business leadership and management.
Through upGrad’s MBA (Executive) with a Specialisation in Business Analytics, students can leverage cutting edge tools like Python, Tableau and MySQL, and capstone projects to enhance business growth.
6. To leverage data insights to drive successful marketing decisions
To stay relevant and progressive in an increasingly competitive international business environment, business owners and entrepreneurs should be able to leverage data analytics and intelligence to drive successful growth on the global platform.
For this, one needs to build proficiency in tools and technologies that help you extract valuable intelligence and gain insights to improve decision-making. As per a study by McKinsey & Company, data insights and business analytics play an integral role in improving marketing decisions and help businesses drive productivity by 15-20%.
upGrad’s MBA (Global) with Specialisation in Digital Marketing covers Marketing and Branding Fundamentals, Community, Content and Communication, and Digital Marketing Channels and Metrics that lay the foundation for improved efficiency in scaling businesses and gaining an advantage in the competitive market. Students learn about the top digital marketing tools and platforms like Facebook Ads, Google Ads, Google Analytics, Unmetric, etc., to derive actionable insights from marketing campaigns.
Advance your career: Pursue global MBA opportunities through a globalised program structure
A global MBA is a combination of cultural experiences, exposure to international business practices, and studies related to the challenges faced by global business leaders. It opens doors to pursue lucrative MBA opportunities globally where you interact with historical and regional socio-economic standards.
You get to closely study the dynamic global business environment to grow professionally as well as personally. A global MBA provides access to experiential learning programs to enhance your business and marketing competence in the international context.
What are some of the skills required to pursue an MBA course?
If you are intrigued by the benefits of a global MBA but uncertain if you possess the required skills, do not worry. Some of the top few that can prove to be extremely useful while pursuing this course include leadership, time management, as well as strong interpersonal skills. Additionally, strategic thinking and effective planning can help you to ace not only your curriculum but also your upcoming career in this field. New in-demand skills such as data-driven decision-making can also help you stand out from the rest of the crowd. However, it is important to mention that if you don’t possess these skills, an MBA can also help you in doing so.
How is a global MBA different from a regular MBA program?
Although there could be many similarities between a global and a regular MBA program, some benefits of the former can help you ace many challenges that you could expect to encounter in your professional life. A global MBA will give you unmatched exposure to people from all around the globe. This would help you in cultivating and learning about culture-specific best practices in business. It will also help you in expanding your current professional and personal network to include individuals from many different countries. By effective networking, you can get access to many global career opportunities.
Why are data analysis skills important for a management professional?
Data analysis skills are now an important part of the curriculum of many MBA degrees. This is because by effectively applying data-driven strategies and decision-making outcomes, management professionals would be better able to predict and act in uncertain business environments. Data can also prove to be extremely useful while reviewing current business practices. Effective knowledge of these tools can help to determine best practices in all challenging circumstances that could be faced by a manager.