Research in a dynamic corporate landscape reveals the true purpose of pursuing a master’s degree in business administration. Due to the countless stories of how famed entrepreneurs became successful despite lacking a degree, many are underscoring the value of formal education.
Surprisingly, only a minority of CEOs and CFOs from companies listed in the Swiss Market Index hold an MBA or Executive MBA. Statistically, 6 out of the 20 CEOs possess an MBA or EMBA, while 9 out of 20 CFOs have such a degree. However, to compensate for the lack of a degree, many have over 20 years of experience. Among the board of directors analyzed, the average work experience is 34 years, while only 65 members had an MBA or EMBA.
Despite similar levels of work experience and possession of an MBA between genders, the research shows a sharp imbalance in executive positions, with the ratio of men to women being two to one. Shockingly, of the 20 CEOs studied by the Swiss Market Index, only one was a woman.
An MBA alone will not lead you to success, nor will work experience. Instead, combining theoretical learning and practical application of knowledge leads people to achieve their goals. The possession of such a degree can open many opportunities for young individuals who do not have 20+ years of experience and makes you more attractive to companies. Those wanting to pursue a professional business career should explore the potential of an MBA and its immense practicality in work experience.