By Cho Jae-hyon
Staff Reporter
Now is the ideal time to get an MBA (master of business administration) and meeting admissions officers face-to-face is crucial in deciding which program is the best fit, an international career and education expert said.
"Applications for MBA programs have spiked in recent months," said Nunzio Quacquarelli, founder and managing director of QS Quacquarelli Symonds, one of the world's leading networks for careers and education, in an interview with The Korea Times. "People all around the world are aware that they can attend a one- or two-year course now, sit out the recession in business school and emerge back into the market during the inevitable upswing. This makes business school a very attractive proposition."
QS links high achievers from graduate, MBA and executive communities around the world, with top universities, graduate schools, business schools and employers.
To provide opportunities for Korean students to meet admission officers and experts, QS is holding two fairs, which are sponsored by The Korea Times, for candidates interested in MBA programs, masters or doctorates.
The QS World MBA Tour in Seoul, which takes place on Nov. 3 at the Coex Intercontinental Hotel from 5 to 9 p.m., brings admissions officers from the world's top business schools to Seoul in order to answer any questions candidates may have. To register, visit www.topmba.com.
There is also the QS World Grad School Tour on Nov. 2 for candidates interested in masters and doctorates at the same venue. It provides prospective students an opportunity to meet with people from prestigious international universities.
The QS managing director says selecting the right program, whether it be an MBA or masters, is a costly process and it is essential that candidates make as much effort as possible to find the right school and course for them.
"The best option would be to narrow down a shortlist of schools and courses you like and then to fly out and visit them all. Unless you have a very significant bank balance, this is not possible," he said. "That's why QS brings the admissions officers who can answer a candidate's questions around the world. Under one roof and on one day you can chat to dozens of admissions experts from all around the world, and get the specific questions answered that you need. You can get a feel for the school too."
Nunzio received his MBA from the Wharton School of the University of Pennsylvania in the U.S., where he won the Glockner Prize for Management, after gaining an MA at the University of Cambridge.
Asked what the value of an MBA is, he said, "The MBA is a general management postgraduate degree which educates talented young professionals to be able to take a more senior managerial role in a wide variety of industries.
"This has immense value for a number of reasons. Primarily, most MBA graduates will find themselves in a strong position to improve their salaries. Including bonuses, salaries can improve drastically, often as high as a 100-percent increase."
On the latest trends in the market, he said, "Employers are targeting experienced MBAs while overall demand for MBAs and salaries has remained firm in many markets.
"This recession is making employers actively look for MBAs to fix problems or help them expand into emerging markets. Greater focus is being placed on leadership and communication skills.
"Employers are looking for people with experience who they feel can make a real difference straight away."