About MBA Tracer Study 2009 - 2012

Inhalt

Introduction

Framework of the study

Objectives of the Study

Methodology

Results and Discussions

Conclusions

References

Abstract

This tracer study aims to determine the reasons Masters in Business Administration (MBA) graduates for Academic Year 2009 to 2012 to finish their MBA and after earning their degree the reasons to stay in their present job, accept job offers or change jobs. Using frequency the study reveals that passion for the profession, present career challenges and advancement of a career are the leading reasons to finish the MBA degree. Similarly, these are the same reasons for an MBA degree holder to stay, accept or change jobs after graduation. The result of the chi-square test of goodness of fit, (χ2, 4, N = 88) = 9.49, p<.05, shows the presence of significant differences, among MBA graduates, in their reasons to finish MBA, to stay in their present jobs, to accept job offers or to change jobs.

Introduction

The enhancement of expertise after gaining several years of work experience is a convincing reason to proceed to graduate studies. Related work experience helps MBA graduate clarify their career goals; discover the requirement to be successful in their profession and evaluate their abilities to proceed to their area of specialization (Dreher & Ryan, 2004). MBA graduates’ work experience and degree helped them clarify any vague career goals (Briscoe, Hall, & Frautschy DeMuth, 2006).

The MBA program is expensive and demands stringent requirements. On average, the MBA typical per unit cost is $1,000 (Kyle & Festervand, 2005). Nonetheless, among business graduates, they preferred the masters in business administration (MBA) program (Fernandes, 2005). The popularity of the program resulted in an exponential increase in its enrolment. In popularity, MBA was ranked second only to master's in education (Herrington, 2010).

Several studies claimed that there are primary reasons for MBA students to persist in finishing the degree. First is salary. The average salary of an MBA graduate is significantly higher than a baccalaureate degree. MBA graduates receive twice the salary of a baccalaureate degree holder (Wellman, Gowan, & White, 2006). They can recover the investment made in their education within two to three-year salary (Holtom & Inderrieden, 2007).

MBA graduates achieve a higher chance of promotion or being offered a high-level management position, due to their added value, with more opportunities for career advancements (Garavan, O'Brien, & O'Hanlon, 2006). More than 50 percent of CEO's are MBA graduates (Schoar & Zuo, 2011). Managers with MBA degrees are more risk tolerant, a confirmed view that the MBA degree is the best degree in general management (Beber & Fabbri, 2012). The excellent career opportunities are the primary reason in pursuing the Masters in Business Administration (MBA) education. Students agree that pursuing MBA degree is a good investment because of its positive long and short-term impact on career employment and salary (J. J. Zhao, Truell, Alexander, & Hill, 2006).

MBA graduates enjoy a wide networking opportunity (Baruch, 2009). Going through the MBA program, students get to interact and know their classmates who are currently or eventually would become high-level managers (Hall, 2011). MBA students also interact with their MBA professors, who are currently or formerly high-level managers, with their own established networks of acquaintances and friends in the industry. MBA graduates can access the extensive alumni network of their program. This network provides the graduates immediate information in their field and offers better chances in accessing excellent opportunities (Elliott & Robinson, 2012).

Framework of the study

The tracer study is anchored in the research of Richards-Wilson & Galloway (2006), which states that many schools of business try to maintain their market share through varied market strategy, but sometimes overlooked the strategy of surveying the graduate program. This strategy may benefit the program because the generated information is used to create a more focused advertising, student recruitment and program improvement. In addition, a study entitled Informing graduate enrollment management: Marketing and admissions through student's perspective, which claim, today, graduate students are multigenerational creating an immense need for graduate enrollment management research. Moreover, many different factors influence the enrollment decision to attend an MBA program (Stack, 2009). Finally, the graduates of the MBA program are in the best position to evaluate the quality of their graduate education because they have gone through the program based on the curriculum objective of the university. Particularly designed to equip them with industry required skills and knowledge (Latifah & Ramli, 2010).

Objectives of the Study

The study aims to determine the reason for MBA graduates to finish the course, stay, in their present job, accept a new job offer or change their job. In the process, the study determined if significant differences exist among graduates in their stated reasons to finish their MBA, stay at their present job, accept a new job offer or change their present job.

Methodology

Research Design

The study used the descriptive method of research. This method is appropriate to answer the research problem of identifying the respondents' personal profile, employment, social-economic status and other employment concern (Williams, 2011). The researchers adapted the Commission on Higher Education (CHED) Tracer Study questionnaire as the instrument gathering data from respondents. The data were tabulated and presented in tabular form to meet the research objectives. The respondents of the tracer study were graduates of Masters in Business Administration from 2009 to 2012, covering different industries and different socio-demographic profile, during those years cited, 88 graduated from the MBA program.

Results and Discussions

In the past few years, experts observed a significant decrease in the popularity of the MBA program. Business schools struggle to retain their market share through a survey in which graduates benefited from the program (Richards-Wilson & Galloway, 2006). This tracer study aims to determine the reason for individuals to pursue the MBA degree. Reflected in Table 1, were 28 or 62 percent of the respondents who claimed that passion/prestige for the profession is their reason for pursuing the degree, while 7 or 16 percent indicated immediate employment as their reason. There were both 5 respondents and 11 percent state that the influence of their parents and prospect of attractive compensation are their reasons.

There were six or 40 percent of the respondents declared that the passion/prestige for the profession and the prospect of attractive compensation are the reason for them to stay in their current job. Similarly, there were six or 40 percent of the respondents stated that the passion/prestige for the profession and the prospect of attractive compensation are the reason for them to accept a job offer. In a similar manner, there was 6 or 46 percent of the respondents pointed out that the prospect of attractive compensation is their reason for changing jobs.

Similarly, six or 40 percent revealed that the prospect of attractive compensation causes them to accept the job. In the same way, there was six or 46 percent who maintained that the prospect for an attractive compensation cause them to change their jobs, while three or 23 percent state that their passion for the profession make them change their jobs.

A chi-square test of goodness-of-fit determined whether there was a presence of a significant difference in the reason for MBA graduates to pursue their graduate education, stay at their current job, accept a job offer or change job. The result of the chi-square test of goodness of fit, (χ2, 4, N = 88) = 9.49, p<.05, showed the presence of a significant difference in the reason for pursuing, staying on the job, accepting the job and changing job among MBA graduates.

Reason to pursue MBA

Individuals pursue the MBA degree in a belief that it is the closest thing to qualify for a manager/supervisory position. The MBA degree brings added value which can be tangible and intangible inputs to both the degree holder and their employer. Although pursuing MBA degree entails certain risk, it offers high potential for promotion and career advancement (Baruch, 2009). Besides, MBA alumni create social capital and personal networks after their graduation. These networks form virtual and corporeal co-presence among MBA graduates that eventually convert into other value networks that may result in career progression. In other words, aside from the enhanced skills of alumni is the networking created from the MBA degree (Hall, 2011).

Several factors influence student's selection of the MBA program. The unique features of a university offering the MBA program sometimes attract students to enroll. A recent research, interview 76 students using the grounded theory approach reveals the five factors that emerge in selecting a university is its reputation, syllabus, quality, facilities, and career. Although the degree of importance varies among students, the reputation of the university consistently emerges as a key factor (Blackburn, 2011).

Table 1. Reasons for recent MBA graduates to finish the course, stay, accept or change jobs

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A research in Botswana Graduate Business Education program finds out that the reasons individuals pursue the MBA degree are because of the level of satisfaction, the relevance of acquired skills and its relationship with those required by the business industry. The result indicates that improved managerial skills, career development, better business insights are the most common reason individual pursue the MBA degree. The main features that attract enrollees are the curriculum of the MBA program that emphasizes on conceptual, analytical and technical skills. Meanwhile, employability and economic benefits were identified as the least reason for enrolling in the program (Temtime & Mmereki, 2011).

A study explores the career choices of MBA students from three countries based on the “free choice” in the context of structural constraints and career market. The result of the study indicates the structural constraints have less influence on their career choice compared with their own human capital and capacity to make free choices (Özbilgin, M., Küskü, F., & Erdoğmuş, 2005).

Employability of MBA graduates

To become a better manager is one of the main reasons to pursue the MBA degree. An interview among 68 MBA graduates indicates that their degree has a positive contribution to their skills, employability, compensation and career development (Mihail & Elefterie, 2006). The completion of an MBA degree adds value by enriching competencies in decision-making. Likewise, 318 MBA degree holders disclose that their degree enriches their competencies, skills, and self-perception a revelation of MBA's prominent impact on career success (Baruch, Bell, & Gray, 2005).

The MBA degree holder increases their worth and employability in the labor market (Jha & Kumar, 2012). It is a demonstration of their acquired capability and confidence to pursue a career path which met their potentials and aspirations while enabling them to contribute to an organization (Mihail & Elefterie, 2006). Over the course of their career, MBA graduates hold different position of responsibility in their organization (Dipadova-Stocks, 2005).

Investigating the self-perception of MBA alumni in their employability relevant to their degree, four-factor solution emerge. These are university’s reputation, self-confidence and proactivity, labor market condition, and academic performance. Among these factors, MBA alumni placed significant importance on the brand and reputation of their university (Rothwell, Jewell, & Hardie, 2009).

Reasons to change jobs

Understandably, MBA graduates are assumed to be employed before, during and after their study. The job they have after earning the degree is a matter of staying in their current job or accepting another job because of salary, promotion or career (Temtime & Mmereki, 2011). The state of their psychological contract determines whether they will stay or leave their present job (Z. X. Chen, Tsui, & Zhong, 2008). It is the unwritten contract between the employee and employer that concerns mutual expectations of inputs and outputs (H. A. O. Zhao, Wayne, Glibkowski, & Bravo, 2007). Among workers point of view, it is a feeling that involves commitment, job satisfaction and work conditions (Knights & Kennedy, 2005). Workers who move to another job feel that these unwritten contracts were not met (Bordia, Restubog, & Tang, 2008).

Psychological contract plays an important role in workers’ behavior in the organization. It appears that personality characteristics of equity sensitivity and external locus of control relate to the transactional contract. These influence the psychological contract which individuals’ forms with their employer. It explains that even when similar employees face similar job conditions, they exhibit different organizational behaviors (J. Zhao & Chen, 2008). A meta-analysis of 60 MBA graduates reveals that negative associations exist between psychological contract breach and job attitudes. The result also demonstrates that age moderates the relationship in a sense that it surprises researchers. It indicates that trust and organizational commitment are stronger among young MBA graduates, whereas, the relationship between contract breach and job satisfaction was stronger among older MBA graduates (Bal, De Lange, Jansen, & Van Der Velde, 2008). Newly hired MBA workers search for information about information employers has made to them. MBA workers tend to exhibit a weak relationship between work values and contract-related information seeking. It means that MBA workers try to relate their psychological contract formation and their locus of control in the process (De Vos, Buyens, & Schalk, 2005).

Reason to stay in current job

Workers stay or quit their job primarily due to their level of job satisfaction (Staw, & Cohen‐Charash, 2005). A concept called multiple-item job satisfaction of work tries to predict through a logistic regression the turnover intention of MBA degree workers. The model predicts high turnover intention among the three elements of job satisfaction: salary, personality, and health (Dolbier, Webster, McCalister, Mallon, & Steinhardt, 2005).

Once people graduate with MBA degrees, they enter into a new labor market. A new salary game begins, with the current employer offering salary increase and job security to their MBA degree workers (Holtom & Inderrieden, 2007). The relative importance of salary increase and job security varies among workers with MBA degrees. For some, the salary increase is most important while others may prefer job security. Over time, their priority may shift from a salary increase to job security or vice versa (Atallah & Qi, 2009).

Surveys indicate that the salary of an individual increased after graduating with an MBA degree (Sulaiman & Mohezar, 2009). A related research on salary predicts that on average MBA graduate receives a higher starting salary. Significantly, among MBA graduates from top-tier business schools worldwide enjoy an above average starting salary (Anderson, 2007). An MBA graduate salary increases faster in top companies than their counterparts (Manning & Dimovski, 2007). Some MBA graduates earn substantial salary increase, estimated average at 44.3 percent, in less than a year after earning their degree and placed in the more intellectual job spectrum: advising and consultancy (Mar-Molinero, Portillo, & Hayes, 2007). Even with MBA graduate who have only a few years of pre-MBA working experience, starts with a lower salary than with MBA graduate with substantial years of pre-MBA working experience, but the differences were overcome by an early start on their career (Yeaple, Johnston, & Whittingham, 2009).

Reasons to accept a job offer

Salary is the measure of the market value of the degree, graduates earned, which reflects their value to their employer. Some business school in promoting their program release information on the different rankings and salaries of MBA graduates as a center of their marketing activities. Naturally, individuals try to pursue MBA degree because of the expected increase of their salary (Baruch et al., 2005). MBA student has an impression that an MBA degree gives a higher salary as its rewards (Podolny, 2009). Similarly, a study tries to confirm the value of the MBA degree in terms of salary, promotion and career success against the non-MBA degree holders. This longitudinal study demonstrates that MBA degree holders enjoy a significant increase in their salary, promotion, and career against the non-MBA degree holders (Wellman et al., 2006). Further research examining 309 MBA graduates between 1996 and 2002 from the Association of Advance Collegiate Schools of Business (AACSB) shows the presence of short and long-term positive impact of MBA degree on annual income and promotion. At the same time, MBA graduates believe that because of their degree, they are better at problem-solving, leadership and team collaboration compared to their non-MBA peers (J. J. Zhao et al., 2006).

A model using the Return on Investment (ROI) examines the different variables that matter in evaluating the input (cost) and output (benefits) of the MBA degree. There were more than 60 MBA who participated in the study and through the result of their individual interview. An overwhelming majority perceives that the benefits of MBA degree outweigh its cost (Carmichael & Sutherland, 2005). In retrospect, even when the impact of MBA degree on the wage indicates that controlling for the prior wage before admittance to the program reduces the expected wage increase of MBA degree. The benefits still outweigh the cost, (Arcidiacono, Cooley, & Hussey, 2008).

The Forbes 800 survey on the different CEO salary reveals that top executives coming from top MBA School are receiving significantly higher salary than those who do not have MBA or whose degree came from other business schools (Jalbert, Rao, & Jalbert, 2002). Similarly, among MBA graduates from a large university in the Midwest US, reveal their subsequent perception of the career advantages gained from their degree. Several medical schools offer a dual MD/MBA program to their students. Graduates from the dual program earn higher salary, although their degree according to a report enables them to make higher salaries than their non-MBA colleague, money was not their motivation for obtaining the dual degree (Butcher, 2011)

Career Development

A paper using the thematic and textual analysis to examine the quality of work life (QWL) and career development decision among part-time MBA students reveals the presence of four major themes as the domain of tension. The paper specifies that positive career development strategies which have a positive effect on the QWL among part-time MBA students are the result of career development planning and support, flexibility, and autonomy in job design (Li & Yeo). A new research that focuses on career development reveals that individuals are becoming more responsible for their own career development whereas the organizations are focusing less on organizational management practices. In an organization where management practices focus on the career development of their workers, individuals take more responsibility for their career advancement. This was described as a mutual influence process in which the organization and workers are agent and target of career influence (Lips‐Wiersma & Hall, 2007). Previous studies suggest that MBA students pursue the degree for personal growth rather than financial growth. Students held the expansion of career opportunity and flexibility as the best priority before any monetary benefits (Hay & Hodgkinson, 2006).

MBA degree holder may define career success in a different perspective, which may include peer group comparison (Arthur, Khapova, & Wilderom, 2005). There were 36 MBA alumni interviewed to determine their career success in relations to their MBA degree. The study indicates that there are varied meanings given to MBA career success, with success particularly defined in a much wider term than the common idea of a fast career advancement. The study dismisses the belief that MBA graduates are singly concerned with their career status and high salary (Hay & Hodgkinson, 2006).

When deciding to leave their current job, MBA degree holders, do not necessarily shift to another sector. The willingness of MBA degree holders to stay in the current sector is due to their perceived competence and career value. Trying to transfer to another sector depends on the desire to shift to another sector or the changed in career orientation (Tschirhart, Reed, Freeman, & Anker, 2008).

There was no significant influence among MBA students in their decision to take the graduate studies from their family and non-family. It was an independent decision in their career choice and exploration process. Self-development was a very strong reason for students to pursue the degree. A reflection of their desire for career benefits and wealth and was not just a job requirement. The choice to pursue the MBA degree was found to have a relationship with a career choice in management (Ng, Burke, & Fiksenbaum, 2008).

Generic skills

The opportunity to enhance business skills are one of the virtues of the MBA program. MBA students and employers acknowledge the five broad business skills: decision-making, analytical, leadership, interpersonal, and communication skills. A web-based survey of the MBA core curricula among AACSB business school put emphasis on soft skills as one of the important thematic elements (Navarro, 2008).

Despite strong efforts from business schools to improve the communication skills, there are still gaps that exist between new graduates and practitioners. Experts reveal that the gap is the result of practitioners demand for outcome-based skills, whereas, business schools tend to focus more non-business-specific fundamentals of communications. Further examination of the literature suggested that a business school can teach outcome motivated skills but, comprehensive outcome skills are difficult to teach (Conrad & Newberry, 2012).

One of the important suggestions in the development of the current business curriculum is the "core competency framework." This framework explicitly calls for problem-solving skills as necessary for aspirating managers (Dacko, 2006). Managers with better problem-solving skills are able to minimize or even negate the tendency of problems to deteriorate (C. C. Chen & Jones, 2007). This skill is very important that some MBA programs offered a business-relevant skills-based course on leadership coaching. Students enrolled in the program ranked objectives of the course as an effective way to prepare them to become professional business leaders. Among these business-relevant skills is the problem solving which was considered to be important in work-related activities, such as team morale and performance management (Butler, Johnson, & Forbes, 2008).

In an MBA executive program of a business school, they offer a course that helps students acquire critical thinking skills (Roglio & Light, 2009). In trying to promote critical thinking skills, some program embeds international business topics that require students to investigate information and application of business knowledge. The expert adds that like other skills, critical thinking requires training and constant practice (Snyder & Snyder, 2008). Although these topics and methods contribute to the development of critical thinking skills among students, it remains a challenge for educators to develop course content that develops critical thinking skills (Klebba & Hamilton, 2007).

Conclusions

Students who successfully graduated in the MBA program pursue the degree for its prestige (Bledsoe & Oatsvall) and their passion for their profession. MBA degree holders stay or accept a new job because of the current career challenge (Ng et al., 2008) and the job’s prospect of an attractive compensation (Shimizu & Higuchi, 2009). Similarly, the prospect of an attractive compensation is their reason to change jobs

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