Is a modern MBA worth it?

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When interviewing candidates for our MBA programme, I often ask them: “How many MBAs does an organisation need to hire each year?” Estimates range from a modest 10 to a frankly optimistic 1,000.

My answer to that question, however, is “none”. No organisation needs to hire “an MBA”. But it will need to hire an experienced finance manager, operations director, business development lead or telecoms consultant.

When I started work nearly 30 years ago, a colleague was studying for her MBA. Then, it was a qualification with near mythical status, offered by only a handful of elite academic institutions – success would guarantee my colleague a six-figure salary in any City-based organisation.

Look at today’s market, however, and there are hundreds of providers of MBAs ranging in duration from four weeks to two years. Of the thousands of students completing an MBA globally each year, many do so straight from university, having had no practical experience.

So in this context, I think it is fair (and sensible) for both students and employers to challenge the value and relevance of today’s MBA.

Obviously, as an employee and alumna of Alliance Manchester Business School, it would be odd if I didn’t think there was real value in the qualification – especially if gained from a recognised and accredited programme. However, I do think that getting best value depends on recognising, as either candidate or employer, what you need from an MBA.

In some global markets – India, for example – an MBA is now often a prerequisite for even entry-level roles. In other sectors, such as UK manufacturing, an MBA can give you an edge, but it’s usually a candidate’s work experience that will get them the interview.

The digital age has also shaken up the market, with a number of today’s MBAs looking to leverage the skills learned within a course to develop and launch their ideas and run with them…