The MBA degree belongs to the category of professional degrees. What does it mean and can it pay off financially?
What is
MBA
An MBA is the title given to graduates of management education. It is a master's degree, classified as the second cycle in the Bologna Process and referred to as EQF 7 in Europe.
It is typical mainly for the Anglo-Saxon world and has its roots in the USA. It first appeared in 1910. However, it can also be obtained domestically. In the Czech Republic, it belongs to the category of so-called professional education, so it is a non-academic title.
The prerequisite for obtaining it is the completion of a bachelor's degree, possibly a secondary education with a high school diploma and sufficient experience. The degree is then listed after the name.
For whom is MBA worthwhile?
The degree is practically oriented, but is no longer the preserve of top managers. In addition to them, entrepreneurs and all those who aspire to be successful leaders will also benefit from an MBA.
In addition to self-employed people, this type of education will also be used by workers in the public administration, employees in the healthcare sector or workers in the non-profit sector. However, all those who want to work on their personal development can benefit from it.
How much does an MBA cost and is it worth it?
An MBA degree specifically at the European Training Academy costs a tuition fee of 59,000 CZK. This one-off investment brings a number of benefits to graduates in the long run.
First and foremost, it is a gain of practically oriented knowledge. Education leading to an MBA degree develops personal leadership and management skills as a priority. Likewise, an MBA allows you to expand your network of professional contacts.
According to research conducted by STEM/MARK, the gain of this degree meant an increase in the average annual salary of graduates by CZK 38,688, while graduates from the ranks of managers and executives even earned a salary higher by CZK 66,588.
According to available statistics, up to 80% of graduates will see a significant increase in their own financial evaluation. An MBA degree is thus clearly worthwhile.