Many business and economics students are finishing their studies now and are considering what to do in the coming months. Should they get to work or study a master with which to complete their training? With the current situation, it is not uncommon for them to consider it, since companies make fewer hires and, in exchange, undergraduate degrees are still issued by universities.
There are arguments for and against, which are surely being considered by our readers, the issue is, do these opinions coincide with people who have done well professionally in the business world?
There is no clear answer as to whether or not we should study postgraduate studies, it is not a decision that depends exclusively on one factor, but can depend on many and for it to make sense, we must first take the appropriate steps.
Arguments in favor
Duncan Chapple, an expert in business higher education to whom we have previously interviewed, comments on three advantages after his experience as a professor in business schools. One is that even graduates of the best degree programs can benefit from deep specialization, the second that you can add a brand and a stronger network of alumni to your professional network and thirdly that doing it in another country or a different language can make you stand out in the selection processes for multinational companies.
This third opinion is shared Klaus Keller, former Managing Director of Knauff GmbH, branch in Spain) believes that a master can help you distinguish yourself from many other graduates. But also that the knowledge that comes from ADE programs is very general, so the master can help to offer a better position in the market apart from showing the capacity for sacrifice.
Domingo González “Remo”, founder and partner of iAdvice He says that his master’s degree in taxation helped him to specialize, deepen and have a good position now. So you think yes it is worth it to specialize in the area of our choice.
Comment Onésimo Álvarez-Moro (entrepreneur and investor) who to study an MBA it is better to wait for a period of experience, since surely we will have a greater practical knowledge and what is learned is from the discussions with the other classmates of the master.
Carlos Otermin Barrera, COO of Lazada Philippines, believes that it is better to work in companies as soon as possible, being an advantage of the degree in ADE that provides enough knowledge to start working soon.
Regarding job prospects, Remo comments that Not for having the master has obtained better working conditions or more offers, to which he attributes having chosen a less well-known university (Malaga) compared to more prestigious centers in Barcelona, Bilbao and Madrid. Klaus Keller comments that a problem that the graduate with a master may encounter is frustration with what the market offers compared to what they expect with respect to the time and effort invested.
So, should I study a master right after finishing?
Of course the decision is up to each one. But as Onesimus comments Better to do a Master than to be at the parents’ house without doing anything. Although, is a master the best you can learn? Perhaps other skills such as mastery of English are better valued.
Another option is that the master is mandatory for the profession we want to have. If we want to be lawyers, apart from the law degree we will need a master’s degree for access to the legal profession, if we want to teach economics in institutes we will need the corresponding master’s degree. Here there are no doubts about whether it is time to enroll.
On the other hand, choosing the specialization well is important, as well as the prestige of the institution that gives it. You have to choose the specialty once we see our capabilities, and even what we might like about the job where this master takes us. In that sense, the best thing will surely be to study that once we have tried the work experience in that area.
Studying a master’s degree simply because we have finished our studies and we do not know what to do or because we want to extend the student’s time at the university, should not be an option to consider. In fact, we should be clear about whether we want to dedicate ourselves to the area before even requesting it, and whether our natural capabilities fit. The next step would be to make sure that the training is going to take us where we want, very typically seeing if the former students of this master with similar conditions to ours have gotten where we want to go.
If we don’t know where we want to go, there is still time before the end of the race to decide what we want to do next. A bad choice can lead us to have wasted time, effort and money. Three very rare things. Also, in my experience, many programs are simply created by the interests of the university or certain professors, without much real or local application.
Ask the readers, What has been your experience studying a master after graduation? How was it chosen and why? Did it help them find work? Did they get a good job without a master’s degree?
In The Salmon Blog | Bachelor’s degrees in Economics and Business 2019/2020, Are Spanish universities so bad? Y The parent-child income map has several readings, including how to make your children earn more than adults
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