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T291 - MBA Pathways_300x270

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T291 - MBA Pathways_300x270

  1. 1. ADVERTISING LIFTOUT PUBLISHED MAY 6, 2015 the pathway to professional development Advice for choosing your MBA route Discover the institutes geared towards higher learning Students talk about their MBA experience
  2. 2. 2 3 the pathway to professional development Editor: Louise Allan Writer:Bianca Bartucciotto Subeditor: Kirsten Hyam Design: Jessica Rykers Advertising: Sharon Elliott, 9482 3140 and Raj Kulkarni, 9482 3567 An MBA, or Master of Business Administration, is an internationally accredited degree that can give you the skills to master all realms of business and management. The value of an MBA is not restricted to the business world, it has application across all facets of your career. Most MBA programs include a core curriculum of subjects, such as accounting, economics, marketing and operations, as well as elective courses that allow students to follow their personal interests. Some schools require MBA candidates to complete an internship at a company or organisation, which can lead to great career opportunities or boost your CV. Some business schools require participants to have at least a few years of professional work experience before starting the program and also require candidates to submit important documents, including academic transcripts, letters of reference and a statement of purpose. Traditionally an MBA program lasts about two years, but a one-year MBA program is becoming more popular. Why study an MBA? Advance your career Gaining an MBA often goes hand-in-hand with securing a more prosperous and attractive Former Eagles Captain Darren Glass started his full-time MBA at The University of Western Australia (UWA) Business School four months ago and has already started networking with high- profile business leaders and attending professional development workshops. Mr Glass has so far studied organisational behaviour, accounting and economics and taken part in a leading self module. Whilethe12-monthintensiveMBAhasareputation forbeingtoughwork,MrGlasshasembracedthe challengeofbeinganinauguralcohortmember. “I grew up loving sport and was fortunate enough to be able to do it for a living,” he said. “However, like most professional athletes, my identity is tied up with my sport. Studying an MBA at UWA is giving me a great opportunity to develop new capabilities and also build on my knowledge in areas such as leadership and management. “We have an incredibly diverse cohort. There are lawyers, accountants, engineers, small business owners and a former band manager. We have people who originate from Lebanon, Ireland, Vietnam, Indonesia, the UK, US and all over Australia; it is a truly global cohort. employment opportunity. Graduates have a high chance of obtaining and holding a high-level management position. It is estimated about 70 per cent of MBA graduates are senior managers or board directors. Higher salary Because of the employment opportunities open to MBA students, graduates are more likely to have a considerably higher salary. In two to three years, graduates can cover the investment made in their MBA education. Job security People who expand their skill set can be seen as more valuable by an employer, potentially making their position in the company more secure. Expanding networks Going back to university provides you with another opportunity to network with like-minded individuals who may prove valuable further down the track. This helps students establish a large business network and referrals. Start your business The skills taught in an MBA course can easily be applied to the start-up world. Students are given hands-on experience in the business arena, which can help them on their path to entrepreneurship. What is an MBA? Kicking goals in the classroom The Personal MBA By Josh Kaufman Widely acknowledged as a world-class business education in a single volume, The Personal MBA gives you a complete overview of everything you can learn in your MBA, propelling you ahead of the masses about to embark on the same journey. Complete MBA for Dummies By Kathleen Allen and Peter Economy Just like other For Dummies guides, this is a practical, plain English guide that covers all the basics of a topnotch MBA program. The book helps you navigate the pitfalls, trends and techniques of a modern business world, without the complicated lingo. The Lean Startup By Eric Ries Many new companies fail. But these failures can be avoided. The Lean Startup outlines a new approach to business being adopted worldwide, changing the way companies work. Instead of pushing templates and business plans, Ries attempts to open the eyes of business owners and adjust them to the ever-changing landscape of business. Preparing for study 3 2 1 4 5 “The full-time intensive course is appropriately named, but this has meant this group of trailblazers has bonded and built up a strong rapport very quickly.” Over the coming months, Mr Glass will have one-on-one mentoring sessions with Wesfarmers Limited Director Tony Howarth, undertake a study tour to companies in the Pilbara and complete a business advisory project for a real client. “Studying an MBA at UWA is giving me a great opportunity to develop new capabilities and build on my knowledge.” Mr Glass will also complete further modules in the Leadership Development Program, which combines psychology with experiential activities and personalised feedback. Mr Glass said he had learnt plenty from other students in his class. “I’m finding that I’m learning a lot from others in the cohort and having a good time doing it,” he said. “To sum it up so far, I would describe it as plenty of lectures, laughs and late nights.” The Real-life MBA By Jack and Suzy Welch Business authors Jack and Suzy Welch guide you through all the most pressing challenges that exist in the modern word. From winning strategies to management procedures and leading people, this book leaves nothing to chance. Purple Cow By Seth Godin A big part of business is sales. If you understand sales, you understand the fundamentals of business. Marketing guru Seth Godin’s novel Purple Cow is a no-nonsense guide to being remarkable in your marketing and sales pitch, the key to building a successful business. How To Win Friends And Influence People By Dale Carnegie Do not let the humorous tone of this book distract you; it can provide valuable information about how people interact and the basics of human behaviour. You will be able to apply Carnegie’s years of research to instantly connect and win over even the most difficult person. Darren Glass will participate in one-on-one mentoring sessions as part of his MBA at UWA. For more information visit www.mba.uwa.edu.au or contact the school directly. MBA Centre UWA Business School Phone: 6488 3980 Email: future-mba-business@uwa.edu.au Next application rounds MBA Full-time (commencing January 2016): Application rounds close May 4, June 29, August 3 and October 5. MBA Flexible: Applications close July 27 for August 2015 intake.
  3. 3. 4 5 the pathway to professional development After completing an MBA at The Wharton School of the University of Pennsylvania, Nupur Gupta started Crack the MBA, a boutique education advisory firm based in India, to help potential MBA students get the best out of their degree. Ms Gupta provides specialised, one-on-one advisory services to help potential MBA candidates present the best version of themselves to prospective schools. “While an MBA degree itself is open to a wide variety of candidates, it does require a certain intellect to be able to crack the MBA admissions process,” she said. “An important component of your application is your academic profile. That is gauged not only from your undergraduate major and grade point average, but from your test scores. “The most commonly used test is the GMAT, followed by the recently adopted GRE.” Ms Gupta said candidates who were not sure about their suitability could take a free test at www.mba.com. She added there were many options available for flexible study, ideal for people who thought they could not commit. Breaking into the business world Study benefits future prospects Expanding your knowledge helps add value “Barring the full-time option, candidates do not need to leave their full-time employment,” Ms Gupta said. “Given the plethora of options in today’s world, candidates can opt for a program that suits their personal situation. “Studies reveal candidates frequently end up earning as much as one-and-a-half to two times more after an MBA degree. Moreover, the degree enables candidates to be eligible to rise up the ladder in their organisation.” “Part-time and Executive MBA options often entail partial sponsorship from the candidate’s employer. They also end up taking longer due to the fact that candidates are packing so much more into their daily lives. These options are typically employed by candidates in their thirties or forties. “The Online MBA is a recent phenomenon that seems to be gaining traction. It tends to be the most flexible option as well, owing to the ability to attend classes from your computer.” Applicationsnowopen. Semester commences: July 27, 2015 Web: www.reachyourpotential.com.au/ postgraduate Phone: 134 ECU (134 328) Email: futurestudy@ecu.edu.au In terms of career rewards, Ms Gupta said there were plenty to entice potential students. “Career rewards are a vital motivator for candidates to join MBA programs,” she said. “Studies reveal candidates frequently end up earning as much as one-and-a-half to two times more after an MBA degree. Moreover, the degree enables candidates to be eligible to rise up the ladder in their organisation. “Also, candidates might be able to switch careers from non-traditional backgrounds to other paths of their liking. Therefore, the MBA can act as a lifeline for these candidates in changing the trajectory of their career. “I am a staunch believer in the power of an MBA. That is also the reason I founded my admissions consulting firm.” The decision of where to go is affected by myriad factors, not all under the applicant’s control. Some important factors that play into an applicant’s decision are: Geographical location Expertise in a field of interest Program’s rank and prestige Career statistics (typically available on program websites) Access to specific employers Duration of program Strength of alumni in their chosen career path and their geography Nupur’s advice for choosing a school 3 2 1 4 5 6 7 When Gabriela Pasqualon finished her undergraduate degree, the choice of where she would continue her postgraduate studies was clear. “I chose to return to Edith Cowan University (ECU) for my studies because I knew I would get the support I needed to balance my studies in my already busy life,” she said. Ms Pasqualon completed a Bachelor of Communications in Public Relations and Advertising at ECU but after entering the workforce, she realised she wanted to further her understanding of the business world. “My lecturers were amazing and provided excellent mentoring,” she said. “I am still in contact with one of my mentors from when I started my bachelor degree, whom I still consult for career and professional advice.” Ms Pasqualon said her MBA studies had broadened her knowledge of how businesses operated. That industry knowledge reflects the fact ECU’s Business courses are designed by the industry for the industry. According to Professor Ross Dowling OAM, Program Director for ECU’s Perth Graduate School of Business, you can have great lecturers and great academic content, but it is the applied focus of a course that is important. “It’s about adding value to the student taking the course so they in turn can add value to their place of work and their own life,” Professor Dowling said. Whether that’s expanding your qualifications, branching into a new area or keeping up with industry trends and standards, postgraduate study at ECU can lead to a bright professional future. Mid-year entry for ECU’s postgraduate business courses is now open. For more information or to apply visit www.reachyourpotential.com.au/postgraduate. Nupur Gupta. Gabriela Pasqualon. City Salary data Brisbane, Queensland $107,415 Canberra, Australian Capital Territory $106,000 Perth, Western Australia $105,517 Sydney, New South Wales $101,263 Melbourne, Victoria $93,747 Adelaide, South Australia $82,822 Job National salary data Chief executive officer $178,190 General/Operations manager $115,486 Management consultant $112,466 Business development manager $104,762 Operations manager $104,754 Human resources manager $101,470 Senior business analyst $101,367 Employees with an MBA – median salary by city Employees with an MBA – median salary by job Source: PayScale.
  4. 4. 6 7 the pathway to professional development With a unique platform and constant flow of industry guest speakers, the MBA program at Murdoch University provides diversity to its students. The course is offered by the School of Management and Governance, which merges three disciplines: business, governance and sustainability. MBA Course Coordinator Dr Jose Alcaraz said Murdoch’s MBA was ahead of the curve. “This unique arrangement acknowledges cutting- edge trends in higher education that assume a multidisciplinary approach needs to be at the heart of a solid and practical understanding of business,” he said. “Overall the MBA gives students a unique opportunity to acquire business knowledge and skills within the broader context of increasing societal and environmental challenges. “A focus on Asia offers students knowledge, skills and applications that will allow them to navigate in emerging economies, vital for Western Australia and, increasingly, globally. “We also provide the opportunity to focus on specific industries such as health or themes such as human resources and leadership and innovation. “The school believes an MBA should be taught by academics and industry experts to provide the student with a mix of theory and practice. We do this by taking advantage of our solid international Have you ever wondered what an admissions officer will look for as he or she trawls through the documents lodged? There are a few key things that will indicate you are ready to gain an MBA, but there are some simple things that can help you get ahead of the pack. Three areas admissions officers look at are leadership, career progress and career readiness. Leadership MBA programs aim to prepare you for a future position as a managing director or chief executive. Therefore, it is key to demonstrate that you possess the skills that will allow you to become a leader for the future. The contents of your CV and letter must reflect this. Admissions officers want to see a ‘habit of leadership’ in your previous work life. Career progress The places and people you have worked for have a great bearing on your application. network, which includes a strong presence in Perth, Singapore and Dubai.” Murdoch’s MBA offers a work/life balance by holding classes in the evening. Students with families or work commitments can choose to study online or via intensive modes in summer or winter schools. The MBA qualification can also be completed in stages by first competing a graduate certificate, then a diploma, before enrolling in the MBA. “Our student cohorts are characterised by a strong diversity; a variety of countries of origin, industries, age and organisations,” Dr Alcaraz said. “A focus on Asia offers students knowledge, skills and applications that will allow them to navigate in emerging economies.” “Most of them are selected to add significantly diverse and complementing perspectives to the case discussions and learning experiences.” To qualify for an MBA at Murdoch, students are required to have at least two years’ relevant industry experience and a bachelor degree. “Each case is considered individually and we may accept students with no undergraduate degree, as long as they can contribute to the student cohort by bringing complementary work experience,” Dr Alcaraz said. Admissions officers will look at what sort of responsibilities you held, what you achieved in each role and whether or not you improved your standing at a company over the time you were there. A general manager must have a wide variety of skills, so mention all the processes you learnt from your employer. Career readiness Are you ready? When applying for an MBA, you are essentially applying for the job you want when you graduate. Ask yourself whether you are at the right stage in your life to take this next step. Admissions officers in some ways act as a proxy to your future recruiter and will weed out the weak from the strong. Impress this person as if you were applying for your next job. Source: MBA Prep School. MBA student Kath Sugars said studying at Murdoch as a mature student had given her inspiration and confidence. “Each unit has taught me theoretical and practical skills to add to my own experience, so now I have a much more complete and accessible knowledge base to apply in the workplace and at home,” she said. Course prepares students for global intelligence Nailing the important attributes Student feedback “The knowledge I have gained has helped me view different situations from alternative angles, which has opened up new career opportunities.” William McGowan H&S Advisor, Injury Management Coordinator “I have had many opportunities to apply what I have learnt in my day-to-day work activities.” Matt Carson BHO, Accommodation and Aviation Operations “Coming back to study an MBA at Murdoch after years away from the academic arena was daunting. Murdoch has made the process as smooth and simple as possible.” Daniel Monks Union Organiser Dr Jose Alcaraz said an MBA course was best delivered using both theory and practice. Applications are now open. Web: www.murdoch.edu.au/Courses/ Master-of-Business-Administration/ Phone: 9360 2705 Email: MBAmg@murdoch.edu.au Course Coordinators: Dr Jose Alcaraz, Dr Cheryl Leo and Dr Frank Zhang
  5. 5. 8 9 the pathway to professional development The MBA and Postgrad Expo in August provides a chance for people interested in pursuing further study to enquire and make connections with various institutes. From the 2013 Postgraduate Destinations Survey, conducted annually by Graduate Careers Australia, it was found that in the broad employment sectors of health, education, government and private industry, salaries Expo showcases study options of postgraduates were higher than those of bachelor degree graduates. From 2012 to 2013, the median salary of postgraduate-qualified full-time employees increased by five per cent compared to that of bachelor degree employees with only a two per cent increase in the same timeframe. What can visitors expect from the expo? • A personal encounter with university staff. • Detailsoftheirstudyoptions beyond the website. • Identify diverse ways of studying: online, on-campus or distance education. • Discover course and pathway options not yet considered. How can this expo help prospective students? • Clarify and broaden the choices available. • Help create a shortlist of providers. • Provide the details necessary to make an informed choice. • Match a career direction with appropriate study options. Thursday August 27 at Perth City Hall Open 12pm to 7pm with entry free. Visit www.postgradexpo.com.au to register your attendance and receive news and advice in the lead-up to the event. Investing in your future has never been so important, with demand for postgraduate degrees set to double over the next 15 years. More Australian students are realising a ‘competitive job market’ is not a throwaway line. It’s a cold reality. Figures from the Group of Eight, a coalition of Australia’s research intensive universities, showed more than 500,000 additional Australian students would seek enrolment in courses by 2030. Up to 60 per cent are expected to be postgraduate students. Open Universities Australia (OUA) Chief Executive Officer Paul Wappett said more students were planning ahead and recognising MBAs or a postgraduate course would put them ahead of the pack. “Over the last few years we’ve seen growing interest in online postgraduate courses, from students seeking a second or third qualification, to students moving into that level of study on the basis of their extensive work experience, and it’s not hard to understand why,” he said. Postgraduate qualification is the new baseline “It’s a trend that comes down to the expectations of employers and the aspirations of those looking to find new and better jobs.” MBA Executive, Juris Doctor in law, Master in Project Management, Master of Policing, Intelligence, Counter Terrorism and Master of Communication were the top five OUA postgraduate courses last year. Mr Wappett said online learning was coming to the fore, with many working professionals struggling to find time to dedicate to on-campus study. “Online options are allowing working professionals to avoid compromising their earning capacity while working towards the qualification they need.” “They understand a postgraduate qualification is their key to accessing a better role or higher salary, but not everyone can commit to attending campus,” he said. Opening up a new world Darren Brandon and Kaye Amies completed their MBA Executive courses through RMIT with Open Universities Australia (OUA). The program develops leaders with a forward perspective, underpinned by contemporary business knowledge and research. The program is infused with principles of design, enabling students to create, lead and manage complex initiatives within uncertain globally connected environments. Mr Brandon said he previously believed having a qualification wasn’t always the answer. “I was of the opinion that I could do anything without a qualification but I was enlightened,” he said. Ms Amies decided to study with OUA so she could stay in the workforce longer. “It’s something I‘ve wanted to do for a long time. I was initially scared, as I thought my age could be a disadvantage, but it’s really validated my role at work and I have even had a promotion since finishing,” she said. The MBA Executive course through RMIT includes learning activities and experiences, such as issue-based seminars, case study analysis, exploration of readings and research and facilitated class discussions. Assessment tasks require graduates to integrate relevant academic theory with contemporary practice and apply this within the workplace. For more information visit www.open.edu.au/courses/business/ rmit-university-mba-executive--rmi- mba-mas-2015. “Online options are allowing working professionals to avoid compromising their earning capacity while working towards the qualification they need, whether it’s a graduate certificate or a masters degree, to progress in their career.” Courses are designed so students can opt in and out of their course to suit their lifestyle and they can do so knowing their hard work will result in the same qualification as their on-campus peers, Mr Wappett said. For more information visit www.open.edu.au/courses/postgraduate or call 1300 363 652. Kaye Amies. Darren Brandon. 2015dates Closeof enrolment Classes start Census date Classes end Exams end Study Period 1 Feb 20 Mar 2 Mar 23 May 31 Jun 12 Study Period 2 May 17 Jun 1 Jun 22 Aug 30 Sep 11 Study Period 3 Aug 16 Aug 31 Sep 21 Nov 29 Dec 11 Study Period 4 Nov 15 Nov 30 Dec 21 Feb 28, 2016 Mar 11, 2016 OpenUniversitiesAustralia’sPaulWappett.
  6. 6. 10 11 the pathway to professional development Nikki’s five tips for women studying MBAs Understand how valuable you are in the classroom. Don’t be deterred by larger than life personalities, younger students or male students. Your intelligence and contribution to the classroom are valued. Put what you learn in the classroom into practice straight away. Whether it be at home or at work, you can learn and re-learn what you are taught over and over again by putting it into practice. Be really clear about your timeframes and availability with group work. It’s likely you will work in groups with people who have different schedules and priorities to yours. Be upfront about the times that work for you. Let go and enjoy the process. As soon as you walk into the classroom, leave everything at the door. Emerge yourself in the learning process. Finally, treat it like a ‘day spa for your brain’. I had more energy and ideas after university. Preparation is key. Be organised, delegate and prioritise and you’ll enjoy the process. Calling her study time a ‘day spa’ for her brain, entrepreneur Nikki Brouwers encourages women to step forward to gain an MBA education. Ms Brouwers is the founder and Managing Director of The Interact Group, a services provider in the area of human capital management. Ms Brouwers graduated from the University of Sydney as an occupational therapist in 1992, but her education journey was not over. Curtin MBA student Nicole Jolly said she encouraged working parents to look into studying at the university. “It seems like the Curtin Graduate School of Business focuses more on people who need to balance work, study and home life,” she said. “What I really like about Curtin’s MBA course is that it is taught over trimesters rather than semesters, which doesn’t necessarily fit with the busy schedules of people who work. “One of the things I really liked when I got into Curtin was the diversity of the students. “Ithoughtitwouldbeverymale-dominatedand resourcesindustry-dominantbutIwassurprisedat thenumberofwomeninthecourse. She enrolled in Macquarie Graduate School of Management to study a Master of Business Administration, completing the program in 2012. Ms Brouwers now runs a successful business, has established herself as a public speaker and is a member of a number of boards and associations. 3 2 1 4 5 Why did you find it necessary to study an MBA? I had obtained an undergraduate degree in health sciences and my natural position as a chief executive officer is about making sure I continually look for best practice. Whilst I had a successful business at the time, I wanted to explore the principles and foundations of finance and accounting to ensure we were applying that to my business model. Was your family supportive of your decision? My husband and three children were extremely supportive. I think they were really proud of mum studying. How did you choose your university and your study hours? At the time Macquarie University (MGSM) was the only university to offer face-to-face classes and they were really flexible. I would often take subjects in block mode over the weekend. This fitted around my family as well as work really well. What do you hope to leave as your legacy? To build an incredibly successful business from a clinical and business perspective while being the best person I can be for my family. Further yourself Course facilities the juggling act of life and study Curtin University is actively encouraging women to study an MBA, an initiative spearheaded by Dean of Curtin Graduate School of Business Professor Milé Terziovski. His aim is to increase the proportion of female MBA students at the university from 30 to 40 per cent over the next two years. Ataskforcehasbeenestablishedtosupportcurrent andfutureMBAstudents,aswellasalumni. Chair of the taskforce Associate Professor Linley Lord said the first meeting would take place later this month. “We are keen to explore the possibility of increased industry support for female MBA students, as well as establishing scholarships to help students facing financial barriers,” she said. “We will seek input from industry and professional associations.” Ms Lord said women faced more barriers than men in terms of self-education. “The Curtin MBA includes the option of a leadership specialisation, which is attractive to women, especially those in the not-for-profit sector.” “There is data that shows us women are less likely to have their tuition fees paid than men and less likely to be given time off from work for study,” she said. “Thismaybepartlyareflectionoftheindustrythey workin,butunlikelytobethewholeexplanation. “There is consistent research that shows women with families are less likely than men in comparable situations to spend money on their own education. This compounds the problem of fees. “Women with caring responsibilities find there are constraints on their class attendance, particularly evenings.” Ms Lord said the Curtin Graduate School of Business was making an effort to provide tailored support to women who had difficulty getting to class. “The flexible study options for the Curtin MBA have many features. These include options to combine e-learning and class attendance and intensive coursework options, which can be readily combined with family responsibilities and the workplace,” she said. “Options to do only a half part-time study load while using the trimester and intensive programs to progress towards completion are also important. Call to boost female entrants “I was after an MBA that offered more than just theory. I was interested in how much of what I experienced in the classroom could then be applied in real life. That was what really drew me to the Curtin MBA.” Ms Jolly said the university was well known for its practical, hands-on teaching style. “I haven’t had to sacrifice a lot to study and I think a lot of that is how Curtin delivers its MBA,” she said. Ms Jolly said she was pleased at how the university supported parents, including those who worked. “I’d encourage anyone, but particularly women, to look at Curtin,” she said. “I found the diversity of students really helpful in the classroom.” A social worker by training, Ms Jolly has worked for the past seven years in the not-for-profit and government sectors. “I thought it would be very male-dominated and resources industry-dominant but I was surprised at the number of women in the course.” “I decided to do my MBA to develop my business acumen and progress my career towards management,” she said. “The Curtin MBA includes the option of a leadership specialisation, which is attractive to women, especially those in the not-for-profit sector and in some female-dominated professions.” Applications are now open. Apply by July 24 to start your MBA in Trimester 3 (August). Register now to attend the Curtin Graduate School of Business Information Evening on June 24. Web: www.curtin.edu.au/gsb Phone: 9266 3460 Email: enquiries@gsb.curtin.edu.au Curtin MBA student Nicole Jolly. Nikki Brouwers.
  7. 7. 12 the pathway to professional development the pathway to professional development

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