Is an MBA still relevant in today’s business world?
Many wonder whether studying for an MBA will help to climb the corporate ladder, land a bigger pay packet or secure a lucrative role overseas. Today, more than ever, professionals ask themselves whether pursuing this qualification answers the critical question: is an MBA still relevant in a rapidly evolving business landscape?
While the study is admittedly a significant expense, there is no denying the long-term investment of the program. MBA graduates are leading some of the best-recognised brands and companies in Australia.
An MBA helped Matt Comyn land the role of managing director and CEO of the Commonwealth Bank. And the CEO of iconic Australian retailer David Jones, Ian Moir, also holds an MBA in economics. Even the star of ABC’s The Gruen Series and CEO of advertising agency Leo Burnett, Todd Sampson, has an MBA under his belt.
The fact is there’s no shortage of applicants to any of the leading MBA schools in Australia, and some candidates are being turned away so that the best and the brightest secure this top-tier learning opportunity.
Solve real-world problems
It’s hardly surprising that MBAs remain popular. Organisations continue to ask: are MBA graduates in demand, and the answer is a resounding yes. The world’s best organisations are seeking creative thinkers, collaborators, and problem solvers. They look for empathetic leaders who can approach real-world problems using human-centred design.
Organisations are all too aware of the skills needed for the future. As they work to navigate the complexities of the global economy and agile management, many require the skills and expertise of MBA graduates to ensure they’re well-equipped to face these challenges head-on.
MBAs will prepare you for the uncertainty of businesses in the future. According to futurist and strategic business and technology advisor Bernard Marr, we need specific skills to survive in the business world of tomorrow.
Alongside an MBA, specialised programs such as RMIT’s Master of Business Analytics and AI Strategy, Graduate Certificate in Business Analytics and Graduate Certificate in Data Science are designed to equip professionals with the analytical and technological skills required to thrive in today’s data-driven economy.
Recent industry reports from the Graduate Management Admission Council (GMAC) show that demand for MBA graduates remains strong globally, with over 75 per cent of employers planning to hire MBA holders in 2024. Moreover, MBA graduates often command salary premiums between 20-40 per cent compared to those without postgraduate qualifications, reflecting their value in leadership and strategic roles.
Companies crave graduates
Recent research indicates that demand for MBA and specialised postgraduate graduates continues to grow, with both large corporations and agile startups actively seeking talent equipped with leadership, analytical and digital skills. Again, highlighting the central question: are MBA graduates in demand remains clear, with strong recruitment across industries?
According to the Graduate Management Admission Council’s (GMAC) 2023 Corporate Recruiters Survey, 82 per cent of employers' plan to hire MBA graduates this year, with startups and tech firms showing particularly strong interest in candidates who combine business acumen with data and technology expertise.
GMAC remains the authoritative global association representing over 250 business schools, providing insight into trends affecting graduate management education worldwide.
Australia’s strategic position in the Asia-Pacific continues to offer unique advantages for postgraduate students. The strong economic and trade relationships with Asian markets, particularly China, India and Southeast Asia, drive demand for graduates skilled in cross-cultural management, digital transformation, and data analytics. Australian universities have deepened partnerships with industry leaders to align curriculum with these emerging regional priorities. (Universities Australia, 2023; AFR, 2023)
Currently, over 40 Australian universities offer MBA and related postgraduate programs, with enrollments exceeding 25,000 students nationally as of 2023. The diversity of programs has expanded, including specialised degrees in business analytics, artificial intelligence strategy, and data science – reflecting industry demand for tech-savvy business leaders. Tuition fees remain competitive globally, with many universities providing flexible online delivery to accommodate working professionals. (Department of Education, Skills, and Employment, 2023; RMIT University, 2023)
Enrich your career
One of the leading MBA educators is RMIT University, recently ranked in the top 10 universities in the Asia-Pacific for graduate employment outcomes by QS Graduate Employability Rankings 2024.
RMIT's redesigned Master of Business Administration, crafted specifically for the industry 4.0 era, equips you with practical leadership skills and digital fluency needed in today’s fast-evolving global market. It fosters an authentic, people-focused learning environment deeply connected with industry partners worldwide.
The program is structured to enrich your experience through innovative modes of delivery and contemporary approaches and developments relating to corporate leadership, offering valuable networking opportunities.
Graduates can be employed across a diverse range of professional, commercial, industrial, and not-for-profit organisations or a range of industries. These could include health and science, public administration and safety, NGOs and non-profits or startups.
You will start your MBA journey by undertaking functional courses that introduce business concepts, followed by courses that draw upon the learning activities, experience and knowledge required to focus on strategy development.
The courses featured in RMIT Online’s MBA will set you on the path to business leadership and prepare you to thrive in a rapidly changing world. For those asking is an MBA still relevant, RMIT demonstrates how modern MBAs equip graduates with strategic, analytical and leadership skills to tackle real-world challenges.
Expand your career potential further by exploring RMIT’s cutting-edge online postgraduate programs, including the Master of Business Analytics and AI Strategy, Graduate Certificate in Business Analytics and Graduate Certificate in Data Science. These flexible, industry-aligned courses empower professionals to harness the power of data, Ai and strategic analytics, skills that are now essential for leadership roles in modern organisations.
Get in touch with our Enrolment team today on 1300 701 171.
