IT professionals, here’s why you should get an MBA
The Graduate Management Admission Council (GMAC)’s Corporate Recruiters Survey report reveals an interesting trend development – 89% of tech employers planned to hire IT professionals who are MBA holders in 2018 which is an 84% increase from the year before.
The importance of technology in businesses across industries can no longer be ignored but what has become increasingly clear is the importance of talent with business expertise to technology giants like Amazon, Microsoft, and Google.
MBA graduates have proven to be highly employable in the tech industry, in fact, 84% of those who graduated from the 131 MBA programmes ranked by U.S. News found employment within three months, according to a survey of recent graduates.
With the more recent technology boom, MBA graduates are increasingly driven to seek opportunities with the tech giants of Silicon Valley.
The Princeton Review cited even more positive findings on the return of investment of an MBA.
The report which calculated the return of investment of an MBA degree as the difference between the average 10-year earnings of a bachelor’s degree-holder and an MBA graduate, and found that an MBA graduate earned up to 300% higher.
In the tech industry, IT professionals with MBAs who specialise in technology management and work as leaders in the technology sector can make up to US$113,000 a year, with information technology directors earning up to US$147,000 a year.
Companies like Google, Microsoft, Apple, and Cisco also report similar trends, with a large concentration of MBA, hires having gone to school in MIT Sloan and Northwestern Kellogg.
Even with the recent developments surrounding COVID-19, major MBA recruiters including tech giants such as Google and Amazon, have not reported any hiring impacts so far.
MBA programmes specialising in technology, technology leadership, and even entrepreneurship are highly sought after by IT professionals who are keen to find employment with tech companies.
These specialisations give you the advantage of a general MBAs that will cover the key aspects of an MBA with the additional emphasis on technology. This allows the learner to gain the knowledge and skills related to general business, management, and leadership, on top of the specialisation in technology.
The core curriculum varies by school but in general, these programmes will cover areas of finance, statistics, accounting, marketing, microeconomics, macroeconomics, and ethics. The added specialisation in technology will set graduates from these programmes apart in areas such as business intelligence, emerging technologies for business, business process and design, database application, as well as information systems.
Quacquarelli Symonds, QS recently released rankings for various MBA specialisations, including the top programmes for careers in technology. The ranking is based on surveys conducted on employers, academics, and business school programmes, and evaluated MBA programmes on career outcomes in the tech industry, programme reputations in the industry, and research output related to technology.
The top three schools based on QS rankings is Massachusetts Institute of Technology (MIT) Sloan with 32% of its MBAs going into the tech industry. This is followed by the University of California at Berkeley (Haas) with 37% of its MBA graduates going into the tech industry. This is followed by Stanford University, the University of California at Los Angeles (Anderson), and Northwestern University (Kellogg).