Why Traditional MBAs take too long and are too expensive
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Sydney-based S P Jain School of Global Management is one of Australia’s most internationally recognised business schools, finding itself the only Australian business school ranked highly in the Forbes’ best performing internationally recognised MBA list for 2019.
The ranking is based upon students’ return on investment in the five years subsequent to graduation.
Nitish Jain, President of S P Jain Global, said that it was clear that times were changing in the prestigious world of MBA education.
“Getting an MBA from a good school used to be an expensive career-accelerator – much like undergraduate degrees, however, this is being slowly eroded,” Mr. Jain said.
“Demand for full-time two-year MBAs has been on the decline for quite some time now. The cost is way too high and not compensated enough by higher salaries. Students want more flexibility and taking two years out of work to study is just not possible in today’s competitive job market,“ he said.
Moving to one-year MBAs is however just one piece of the puzzle towards maintaining the value of MBA programs for prospective Australian students.
Mr. Jain continued: “How you do business in Australia is very different to how you do business in India or China or even other Western countries. The world economy is increasingly global, and students want to graduate with the preparation to work abroad and lead global teams. Traditional MBA programs cover this, albeit in a small and mostly theoretical way.”
Forbes’ biennial ranking compared the earnings of S P Jain’s Class of 2014 against top performing MBA programs such as IMD, Oxford and Cambridge, placing the Sydney institution above internationally recognised schools like NYU, USC and Penn State.
S P Jain operates a tri-city model, circulating students across Sydney, Dubai and Singapore, giving its graduates an advantage of understanding many business cultures and experience operations within international business environments.
“We owe much of our success to our unique tri-city model that has resulted in more emotionally intelligent and globally-minded graduates who have gone on to do very well in their careers, both in India and outside,” Mr. Jain said.
“We are thrilled to have climbed in the Forbes MBA rankings this year, especially as these rankings are student-focused. Since 2011, our Global MBA has consistently featured in top MBA rankings by the Financial Times, Forbes and The Economist.” he concluded.