In recent years there have been lots of myths surrounding the MBA and as the numbers of applications are declining, particularly for general two year programmes, students have a lot to think about. In this guide we will explain some of the common myths surrounding the MBA.
The MBA is a higher level qualification and one of the most popular postgraduate courses. That being said it is a demanding qualification with lots of reading, hours of study and even more coursework writing.
#1 MBA graduates want more money
Myth: There are thousands of MBA students and many of them are on the hunt for higher pay and greater power. Little else is of interest.
Truth: More and more business school graduates with an MBA are looking to make a real impact in the world of business. Rather than being focused on money and securing high powered jobs, MBA graduates are more interested in areas such as innovation or joining companies such as Google who are at the forefront of technology and digital industries. In reality students who graduate as an MBA are looking much further than simply pay or power. Rather, they are hoping to work with businesses to make a real difference to the company and the business world.
#2 An MBA graduate can’t do anything useful
Myth: Although the MBA may stand for a Master of Business Administration, there are lots of other phrases that are used to describe it and none of which are as desirable.
Truth: The majority of MBA graduates really want to make a genuine difference in terms of social enterprise and business. More students than ever before are entering the non-profit sector. An MBA is much more than studying theory and essay writing. It involves many different areas of business and a good MBA course will combine practice and theory.
#3 MBA students find it difficult to think outside the box
Myth: MBA students graduate from business school with a number of principles and theories that don’t really work when they are applied to the business world. Their experience is lacking but they are confident that their insights into business will lead to some kind of breakthrough.
Truth: In reality MBAs not only think outside of the box, they work to redefine the box. People who hold MBAs can be found in some of the world’s best tech companies, leading marketing organisations and innovative companies. So to say that MBAs cannot think outside of the box can be somewhat misleading because in comparison with other graduates, they can actually be extremely creative and innovative.