Isabella Hui, (right) Sales and Marketing Manager and Connie Chan, Sales and Marketing Executive Asia Pacific Management Institute (APMI)

With the local workforce becoming better educated and more competitive, earning an MBA is no longer an option but a necessity for many executives, according to Isabella Hui, Sales and Marketing Manager of Asia Pacific Management Institute (APMI).

The company currently represents three MBA courses, from the University of Hull, United Kingdom, an Executive MBA from Southern Illinois University, United States and a regular MBA from the University of South Australia, which is also available in a Chinese-language version.

While not exactly household names in Hong Kong, Ms Hui maintains that the three institutes reach international academic standards. Besides this, she also reminds prospective students to keep their own academic ability and financial situation in perspective when applying for courses, and that the MBA qualification is but one factor in improving their career chances.

"An MBA doesn't [mean] everything,” she says. "Employers are looking for a host of factors such as improved industry knowledge, better communications skills and more dynamic presentation ability.” Having attended a prestigious MBA school will look impressive on a CV. But, more importantly, the candidate should select the right degree and institution to fit his job and current situation.

Apart from the academic achievement of gaining an MBA, undertaking the course also represents a willingness to persevere with a project and make the necessary time and lifestyle commitments, adds Hui.

"An MBA is a door opener, but is only really useful in conjunction with the relevant working experience, skills and techniques,” she says. "The degree on its own won't get you the job.”

Spreading the net

The current market for MBAs features something for everyone. High-profile Ivy League institutions cater for top executives with deep pockets, and can charge as much as $500,000, while at the other end of the scale distance learning courses from more modest seats of learning can weigh in at as little as $90,000. "With the range of courses and universities offering MBAs, the standard is well within the grasp of most middle managers,” says Connie Chan, Sales and Marketing Executive. "The government is also playing its part, by extending the Student Financial Assistance Agency's Non-means Tested Loans Scheme to people on part time courses.”

The demographics of MBA participants are also changing. "Nowadays it is not necessarily managerial staff that go for an MBA,” continues Ms Chan. "The proliferation of bachelor degrees even at lower executive, administrative and even secretarial grades means that the job market is saturated with first degree holders. Executives have to gain an extra edge, and we are noticing that even at higher administration and secretarial levels, such as personal assistant to a CEO, people are looking to MBAs to improve their competitiveness.”

Time on your side

Apart from affordability, part-time courses can also be more relevant to a student's working life, according to Ms Hui.

"The problem with full-time courses is that the content can be more academic than practical, which might not be what the student needs to complement his career,” she says, adding that the greater academic aspect also means that industry networking opportunities may suffer.

The part-time mode is also better suited to those who can afford the fee, but not the time out from their career. In many cases it might also only take marginally longer than a one-year fulltime course due to the compacted and better-scheduled nature of the modules.

"Our MBA courses take between 15 and 18 months to complete, although some courses can last up to two years,” says Ms Hui. "The content is the same as for full-time courses.”

Classes are generally held on weekday evenings and weekends, with about 24 contact hours for each of about 11 or 12 modules.

Overseas connection

Although taking an overseas degree without having to even visit the relevant institute might seem incongruous, Ms Hui notes that the burgeoning market for overseas MBAs helps make up a massive shortfall in supply from local universities.

"The number of places simply cannot keep up with the number of prospective students,” she says. “Coupled with the fact that universities might well give entry preference to their alumni, for many executives an overseas degree is the only option.”

Exposure to foreign academics is another selling point of overseas MBAs; Ms Hui says that about 95 per cent of APMI courses are taught by faculty members from the awarding institute, with the remainder selected from qualified local lecturers.

"This international coverage is something students might not get so much of if they enrol on a local course,” she adds. "Indeed, overseas MBAs are the preference of some students for exactly this reason, especially those working for or hoping to join foreign multinational corporations.”

Ms Hui does not fear that the local MBA market will reach saturation point any time soon. It was the expectation of a glut of applications from mainland students eager to upgrade their skills that spurred the company to promote the University of South Australia's Chinese language MBA, which would allow access for candidates who meet all the entry criteria apart from English language ability.

"Education is an everlasting industry - there are always new intakes and new students who need to be trained,” she says, noting a substantial increase in the number of overseas universities offering Master's degrees. "With the onset of China's WTO membership, Chinese entrepreneurs will also be looking to set up Hong Kong representative offices to better communicate with the west, creating further new demand for MBA courses.”

2002/11/22