Pursuing an MBA is helpful if you dream about running a company one day. In fact, research shows that MBAs often become efficient corporate leaders. To further emphasize this claim, a Spencer Stuart research suggests that 200 out of 500 chief executives effectively possess an MBA. Bloomberg Businessweek also carried out a study by selecting two different samples. The first sample consisted of the top 10 CEOs frompharmacy.com. The second sample was made up of the bottom 10 among the 500 chief executives. The outcome of this study revealed that five out of the top 10 CEOs possess an MBA degree. There are a few reasons why an MBA is an invaluable asset to becoming a CEO.
One of the reasons is that MBA develops a competitive spirit and promotes teamwork at the same time. The CEO of Boeing and a Harvard MBA, Jim McNerney, correctly stated that an MBA classroom is an accurate simulation of how a business works. The competitive spirit generated in such classrooms prepares the students for the business environment by focusing on optimization instead of finding the right answer.
The exposure provided by studying MBA is immensely helpful as well. If you get into the top schools, you get the chance to meet smart and sharp minds. These intelligent people are resourceful as they share the experience they have gained in their fields. Early lessons about the definition of partnerships, teamwork and cultivating new skill sets are learned.
Moreover, students are prepared to survive in the tough world awaiting them out there. The MBA program focusses on keeping students on their toes. They are made to come up with ideas spontaneously and to think in an analytical way. This is how things work in the business world. Being a CEO, people often have to take decisions on the spur of the moment. One decision can determine the success of a major project or lead to its failure.
Networking is significantly fostered through networking. A successful leader has the ability to build a connection with the right people. An MBA program provides the opportunity to do the same, but in a relevant manner. This accentuates business management abilities. Also, full-time MBA programs often provide the chance to meet future employers. This is possible due to internships, which are considered an essential component of such programs. MBA students are exposed to a lot of alumni network. Most of the top business schools have already had the success of producing top managerial level professionals. In this case, the elitist network is definitely going to pay off in a related career.
The Financial Times, The Economist and Business week are leading publications that have undertaken research to list MBA programs from which graduates go on to reach CEO positions. One business school which finds its way on every list is Harvard. Stanford and the University of Pennsylvania also do not rank far behind. MBA in marketing and finance mostly tend to take over popular charts. However, MBA in IT and other unconventional programs are increasingly being accepted for careers in higher positions. In terms of salaries, MBA graduates benefits from higher wages and increased benefits. In 2011, Apple CEO Tim Cook benefited from a $378 million package. It is no surprise that he is also an MBA graduate.
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