Gaining a Masters of Business Administration (MBA) is good for your career. In the business world it is considered one of the most respected and prestigious postgraduate degrees, and is directly responsible for a significant jump in the earning potential of graduates.
Because graduates can be more selective about where they work, experience fast-tracked career progression and an increased likelihood of landing higher level executive roles, many end up with salaries from 95 to 142 per cent higher than the amount they were earning prior to the degree.
MBAs are highly regarded throughout Asia, where there has been an explosion in degrees offered (China went from nine MBA programs in 1991 to a whopping 236 in 2017). With Australian expatriates increasingly valued and headhunted for roles throughout the region, having an MBA could be your ticket to some of the most dynamic, high paying and exciting job opportunities available.
Bringing data skills and MBAs together
Having data skills is an essential component of any young executive’s repertoire. All parts of the modern organisation are touched by data, so being able to interpret and leverage that data successfully is a key focal point for any degree focused on shaping the next generation of leaders.
Areas in which data competencies help shape an innovative and dynamic leader include:
- The ability to improve operational processes: With efficiency being an ongoing concern within organisations, the ability to leverage data analysis to have an in-depth insight into the day-to-day operations of an organisation is critical.
- The ability to improve customer relationships: CMOs and other customer-facing executive roles are getting an increasing slice of the IT budget precisely to invest in data and analytics solutions, so they can understand and interact with their customers better.
- Future-proofing your own work: Much of the innovation in technology and business is centred on data, so the executives with an understanding of data are in a better position to understand and capitalise on future trends.
- The ability to work anywhere: Studies show that there is a severe worldwide data science skills shortage. IDC predicts a 29 per cent compound annual growth rate in data science jobs through to 2020. Data from an Asia-Pacific Economic Cooperation study, published in July 2017, shows a projected increase of 16 per cent – over the five years from 2015 to 2020 – in the number of data scientists required in the US, 131 per cent in the Philippines and 400 per cent in Malaysia (both 2016 to 2020). As a result, Australians with data skills can expect to earn around $20,000 more on average.
- It helps build a global network which can then be leveraged on returning home to keep an eye on global trends and opportunities before they arrive in Australia.
- It helps introduce fresh ideas and ways of doing business, which can refine your leadership style and help you stand out in any work environment.
- You will develop vastly improved communication skills by working in multi-lingual and multi-cultural environments where strong communication skills are necessary to convey meaning and intention.
- It is often the fastest route to senior leadership roles.
Coupled with the increased earning and job potential of an MBA, data science and management expertise is the holy grail for the Australian executive. James Cook University’s MBA Global course aims to enhance the existing data competencies of students and help them better leverage their analytical abilities within a business context by using data to drive strategic decisions.
“We are proud to have designed a flexible online MBA Global around what students want and what business requires - knowledge and skills critical for success in dynamic economic, political, social, and technological environments,” James Cook University Acting Dean, Professor Elizabeth Crawford Spencer, said. “Conventional thinking and ideas are no longer relevant. So what we offer is just-in-time continuous learning co-designed, and co-engaged with real world challenges.”
Leveraging your MBA to global opportunities
Because the combination of data skills and management expertise earned through a global MBA program fills such significant deficiencies in organisations, it is easy to leverage the expertise provided by these degrees to find work around the globe. And as a highly skilled recruit, most governments are fast tracking visa programs to make it easy for you to work in those companies.
Data shows that 86 per cent of companies around the world plan to hire recent MBA graduates, and the demand is strongest in the US and Asia-Pacific where Australian talent is highly valued. Spending time working as an expat also helps give an executive critical experience in their own career development. Benefits include:
The James Cook University MBA Global degree has been designed to help take your existing professional skills around data and management, and understand how to apply them in any organisation – here or overseas.
An overview to the JCU MBA Global degree
The MBA Global degree can be completed in as few as two years (full-time) during which students complete 12 subjects (six per year). As it is a postgraduate course, you will need to have completed a bachelor’s degree, and have business experience, or fulfil other criteria.
Subjects range from a focus on multinational corporations and international markets, marketing and corporate strategy, corporate finance, data analysis, entrepreneurship, business innovation and leadership skills.
The course has multiple entry and exit points which act as milestones and allow students to potentially enter the course at a later date, saving on the need to complete some subjects. After completing four subjects, students receive a Graduate Certificate of Business Administration Global, and after eight subjects, a Graduate Diploma of Business Administration Global. After successfully completing 12 subjects, students earn a Master of Business Administration Global.
The degree is a fully online course and offers a capstone subject with an option to visit a campus either in Australia or Singapore for a week to get hands-on experience.
It is possible to enrol in the MBA Global Degree in January, March, May, July, September and October. The first intake of students is October 2018. It’s simple: If you have ever wanted to take your career around the world, open yourself up to new opportunities, and increase your earning potential, then an MBA Global degree is an opportunity that can’t be ignored.