Imagine a scenario wherein the project of an Executive MBA study group turns into a thriving business for one of its members. Or, fresh from a discussion with a faculty member, another Executive MBA student successfully resolves a costly supply chain problem. Every day, across the world, Executive MBA students and alumni assume greater responsibilities as they apply their knowledge and skills to make a difference to their organisations.
Those seeking an MBA at mid-career typically seek the education and the degree as a springboard to career transition. The types of students who pursue an Executive MBA degree already possess a wealth of business experience from an array of backgrounds — an aspect that is unique to the EMBA programme.
Not only do students enhance their knowledge and perspective, they also develop a broad business sense as the courses focus on analysis, strategy and leadership. The expertise they gain is immediately applicable in their respective organisations. They become astute decision makers, effective problem solvers, and well-prepared leaders, who are able to take on increasing responsibility.
Distance learning is a big boon for working professionals. Career-enhancing courses offered via distance learning programmes are ideal for many professionals to acquire both the skills and the academic credentials necessary to compete in the changing industry.
Keeping in mind the lack of managerial talent, some leading distance education players like Symbiosis, IGNOU, Sikkim Manipal University Distance Education (SMU-DE) offer this course to hone and deliver professionals who can fill this gap. Such programmes provide students a chance to upgrade their skills. Students will be trained in using the latest tools in banking, policies, products and culture so that they build an immediate applicable knowledge base. Some use tools like industry mentor chat, regularly scheduled academic chat sessions, webcasts and model questions papers in multiple-choice-style, blogs, articles and discussion forums.
During the programme, you gain the confidence, skills, networking and knowledge you need to make an impact on your organisation. And, because you remain in full-time employment during the programme, you are able to immediately apply your new skills. You continue to benefit from the school’s reputation, recognition and global networks well beyond your time on the programme. The practical business expertise and the new ways of management thinking that you develop at the school change your approach to decision making and give you the ideas, inspiration and contacts to shape your career.
A 2009 survey found:
*63 per cent of alumni changed job function
*55 per cent gained additional international responsibilities
*64 per cent had at least a 20 per cent increase in compensation
*64 per cent were now on a six-figure salary plus bonus
The survey also found that alumni are often successful at finding new job opportunities through their network and by working with head-hunters. Students reported significant gains in all areas of professional development measured, with the largest improvements in business discipline integration, critical thinking, decision-making, global sensitivity, leadership, and teambuilding.
The Banking & Finance industry has undergone many changes and the emphasis now lies on hiring trained professionals who can seamlessly integrate into the daily working of the bank. The challenge is to find out such trained professionals since the demand is more than supply.
The Indian banking sector has been growing at a pace of 7 per cent since the start of this decade. Growth forecasts predict that by the end of 2014, the Indian banking and finance industry will need a minimum of 1.7 million managerial people while the current available workforce is only around 1 million.
In the current scenario it is imperative for the current crop of banking professionals to enrol for an MBA programme to enhance their skills with specific reference to the Banking & Finance sectors, in order to advance their career.