Women and MBAs

Jeanette Purcell explains why it is a good time for women to consider an MBA program

In recent years there has been quite a bit of MBA-bashing going on.  But, despite the knocks, the qualification retains its position as the most successful and valuable business qualification in the world.  Each year, the Association of MBAs surveys over 10,000 international accredited MBA graduates to monitor post-qualification salaries and career progression. The results show consistently that there is a significant financial return on investment in MBA study at an accredited business school.  MBAs, on graduation, can expect their salary to increase by an average of 20% and, within 3-5 years will have made significant progress in their chosen career.  This is one of the reasons why demand for the MBA continues to grow, and why thousands of business schools all over the world are offering MBA courses.   

Against this backdrop it is puzzling that MBAs still attract relatively few women students.  The proportion of women studying for an MBA has remained fairly static at between 25%-30% despite changes in the programme which ought to increase its appeal to female students.  Research conducted in recent years by the Association of MBAs has identified a number of reasons for the low take-up by women.  Timing is a significant issue.  The average age of European MBA students is 30 (in the US it is slightly lower, around 27) and this is not a good time for women to take time out for study, especially if they have a young family or are thinking about having children.  The MBA is a big commitment and involves sacrifices.  For some women the prospect of juggling intensive study, family responsibilities and, in some cases, a demanding job, is a major disincentive, especially if they can't count on their employer's or partner's support, or have no guarantee of a better job in return for this sacrifice. 

It also appears that many women have a perception of the MBA scene as highly competitive and macho, focused on careers in finance and involving a lot of maths!   This perception puts off those women who may lack confidence, have different learning styles and want something more from their career than simply a higher salary.  Of course, it is dangerous to generalise here since many females thrive in a competitive financial environment.  However, studies do suggest that - for women - the MBA still has a bit of an image problem.

For business schools the imperative is to attract more women students onto their MBAs.  After all there is a demand.  Real concerns exist about the lack of opportunities for women at the top in business.  At the same time the number of women in management is growing as is the number of female-owned small businesses.  In addition, business schools know that an important part of the MBA experience is the diverse student cohort. Sharing experiences and knowledge with students from different countries, cultures and professions is highly valued by MBA participants.  And a good male/female mix in the class undoubtedly adds value to collaborative and experiential learning. 

The qualification has much to offer female participants.   Of course, there is the improved earning potential but there are other aspects of MBA study which prove to be particularly attractive and valuable to women. Many women MBAs refer to the confidence they gain by completing what is an intensive, tough course, which takes students out of their comfort zone and exposes them to the both theory and practice in all aspects of business and management.  Women in particular appreciate the MBA's affirmation of their skills, knowledge and capabilities at a strategic level.  With an MBA, women feel that they are in a better position to compete in the job market against their male counterparts. 

In general, women MBA students seek out and grasp opportunities for professional and personal development.  They tend to benefit from the intrinsic aspects of the MBA programme over and above the 'MBA ticket' to a better career.   And what about that perception issue?  The stereotype of the relatively inexperienced 25 year old male MBA who takes a full-time course to pursue a career in consulting no longer reflects the reality.  These days MBA students are older.  They start the programme with significant relevant work experience.  The course is available in more flexible formats: part-time, distance-learning or a blend of study modes.  If they are accredited, these courses have the same status and value as the full-time format.  Today's MBA places a greater emphasis on the integration and practical application of business knowledge, a focus on self-development and the improvement of  interpersonal and leadership skills - skills that are highly valued by employers.  These changes to the MBA make a rich and conducive learning environment for all students - particularly women.  And, once qualified, the career options are many and varied - growing numbers of students are employed by organisations not traditionally known for MBA recruitment including the public sector and not-for-profits.  Other entrepreneurial graduates see the MBA as a way of starting and developing  their own business.  

So it's a good time for women to consider an MBA.  The incentives and rewards are there.  And more women MBAs can only be good for business.

Jeanette Purcell is Chief Executive of the Association of MBAs, the international MBA accreditation and membership association for students, graduates, business schools and employers