An MBA is one of the most popular masters degree courses available, and interest in the course is always extremely high as the key skills learned are adaptable to a wide range of career paths, not just for those going directly into specific business management positions.
A study conducted by the Association of MBAs (AMBA) found that over the last three years, the number of people holding the MBA qualification working in the public sector has doubled. The 2013 AMBA Careers Survey highlighted the fact that 10% of all MBA graduates are currently working in the public sector, with 41% of female MBA graduates going into the sector.
Valuable Skill Set is Much Sought After
Whilst some may be surprised by these figures, research manager at AMBA George Murgatroyd explained that the qualification armed students with the skills required to understand “complex and innovative forms of management” and that these were not just required in the private sector but also in the public sector. The MBA is one of the most sought after degree qualifications by employers due to the range of skills learned, from policy making and implementation to strategic thinking, all of which are vital in key management positions. Managers working in the public sector are no different from those working in the private sector, as they are both looking for the brightest candidates to take up positions, those who are able to deal with difficult situations and come up with valuable insights and solutions to problems.
Public Sector Benefits
One reason why many MBA students are applying for jobs in the public sector is due to the increased perception of job security, and the additional bonuses and benefits that come with working under the public sector banner. With above average starting salaries, good holiday allocation, a large degree of job security, and the feel good factor that comes with doing a worthwhile job within the community. There are also a large amount of opportunities for employees to move around within different departments undertaking a variety of positions which leads to an endless amount of career development options.
As well as uncovering these interesting facts about MBA graduates entering public sector jobs, the study also revealed that the average salary from AMBA accredited business schools was now at its highest since 2004 in the UK, at a whopping £82,000. Another interesting figure to pull out of the study was that more than half of graduates surveyed 10 years after their graduation were now working as a chief executive officer (CEO), senior management, or directorship positions. This highlights the high career value that an MBA has for graduates, as it often facilitates career fast tracking.
If you need some help funding your MBA program, Prodigy Finance offers loans for MBA students with competitive interest rates, based on future affordability without the need for a co-signer or additional collateral. Find out more.
Prodigy Finance is one of many potential funding options for international postgraduate students. Other student funding options are available and Postgrad.com advises you to research all your options thoroughly before making such a commitment. Postgrad.com accepts no responsibility for your choice of loan and does not endorse or support Prodigy Finance. Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713.