Raising and Countering Objections Regarding the Decision to Get an MBA
Education serves as a fundamental aspect in life within the present society, to the extent that it is ranked amongst the existing essential human needs. The significance attached to education has accorded immense progress, notably within the advent of the twenty-first century as initially marked by the Millennium Development Goals, a scheme implemented by the United Nations. The education aspiration was categorized as the second with the strategy aiming at eliminating illiteracy within the least developed and developing states by the period 2015. This would be achieved through the adoption of free primary learning in alignment to the preceding model afforded be developed states like the US in projects like free learning and No Child Left Behind for the disabled learners (U.S. Census Bureau, 2011).
The aforementioned objectives and programs were initiated under the premise that education bears a direct association to economic success with an illiterate populace thereby acting as an inhibitor towards the same. Developing and least developed states offer a succinct reflection and validation for the given rationale as individuals are limited in the attainment of financial progression and subsequently social wellbeing. From a subjective standpoint, this premise acts as quite true but it is quite restrictive in nature as a majority of individuals maybe deceived that basic learning acts as the link between wellbeing. As individuals acquire learning empowerment through the various programs, labor skills are enhanced with regard to skill impartation as evidenced by the number of individuals within the learning institutes.
The 2011 Statistical Abstract: Education offers exact data with regard to the progressive aspect of education within the US from the periods 1965 to 2008 (U.S. Census Bureau, 2011). The rationale employed for the resource identification and utilization regards the statistical information required in assessing the long-term learning developments within the US to aid with impact analysis. Validity is very key in the investigation thereby mandating information credibility and therefore, the U.S. Census Bureau being a state institution that has been employed in various numerical investigations over a long period. In the period 1965 fifty-four million, three hundred and ninety four thousand students were noted in the US accruing across all educational institutions (U.S. Census Bureau, 2011). Although the yearly tendencies are fluctuating in nature a stable growth has been noted from the periods 1987 onwards to the present. By the end of the projected MDG period in 2015, at least seventy-seven million nine hundred and forty individuals will be expected within teaching institutes (U.S. Census Bureau, 2011).
Presently, close to twenty million learners are in learning organizations for undergraduate programs spread across private and public establishments. Note that, the US being a single continent acts as a sample within the investigation with other nations bearing the same tendencies within the educational requirement and consequences attached to the progression. The 1994 Group in the publication Graduate Employment and Earnings: Are Universities Meeting Student Expectations? identifies the level of learners within higher learning settings as appraised through the fulfillment element within the working environment; this is defined by the recompense element. Various rationales are noted towards enrollment in higher learning as reflected by work, income and occupation fulfillment the initial two acts as the most prevalent prospects for a majority of the learners (1994 Group, 2008). The publication is very useful within the analysis as it offers significant information as concerned with the premises utilized by students towards higher learning.
The credibility stems from the fact that the report acquires its information from reliable bodies like Higher Expectations Survey 2007/08 and the Higher Education Statistics Agency amongst others within the United Kingdom. Additionally, it also offers recent making it quite relevant for the discussion. Undergraduates within the United Kingdom are awarded between twenty thousand pounds and twenty-five thousand pounds, giving the average compensation level as being twenty-two thousand five hundred pounds (1994 Group, 2008). This is stands as a good offer against the secondary school graduates whose recompense ranges averagely within sixteen thousand pounds for the same period. Of inference from the preceding relationship is that higher levels of learning tend to acquire higher recompense. This is because it lessens the competitive element within the working setting and thereby the success capability. The same argument thereby is applicable to postgraduate learning in terms of compensation as evaluated against both undergraduate and secondary levels of learning.
The Sutton Trust article The Social Composition and Future Earnings of Postgraduates: Interim Results from the Centre for Economic Performance at the London School of Economics acts as a validation for the preceding viewpoint noting that learners bearing a Masters program earn fifteen percent higher than undergraduates. This means that, computing the given percentage on the average recompense noted within the undergraduates a Masters learner attains thirty-three thousand seven hundred and fifty pounds. The worst salaried postgraduate individual reviewed towards the lower side would therefore earn twenty-seven thousand while on the higher side would be forty thousand five hundred pounds (The Sutton Trust, 2010). Supplementary learning towards the acquisition of a PhD program enhances the recompense element by twenty-three percent over the income awarded to undergraduate learners. The document being current and employing its data from the Higher Education Statistics Agency acts as validation for the application.
Rationales towards my preference for an MBA program are therefore initially pegged on the remuneration aspect as the most prevalent intention within the learning field. Objections towards this intention hold the perspective that it reduces learning to material aspects and thereby reducing the normative learning need being knowledge acquisition. To a given extent, this serves as true but the same premise still stands for occupation-minded individuals since most of them target knowledge enhancement as it augments the recompense element. Therefore, either of the viewpoints bears an identical impetus namely the compensation element. The second rationale is identified by competition as a prerequisite to job acquisition as founded on the viewpoint that lower competition enhances an individual’s likelihood for vacancy successes in various occupations as well as working institutions.
For instance, in the period 2008 within the UK sixty-one thousand nine hundred and fifty individuals attained undergraduate awards (The Sutton Trust, 2010). This means that the same proportion stands as eligible to all job vacancies requiring the given educational level and holding other aspects as invariable then each of the graduates holds an equal probability within the occupation setting. Within the same period, only eighteen thousand four hundred and ninety five students proceeded to the postgraduate level and this constitutes to thirty percent of the initial group (The Sutton Trust, 2010). This stands as a notable reduction from the preceding levels and subsequently the competitive element within the job setting is lessened. Countering views aimed at the second rationale are that enhanced education acts as a disincentive for employees as the cost function is boosted due to the recompense element. However, the same stands true for the undergraduates as contrasted with the secondary school graduates yet due to the skill element and the knowledge that the latter group is limited in various areas with regard to task handling then the amplified outlay has to be met; the benefits attributed to the same act as cost covers.
Additionally, the 1994 Group (2008) note that postgraduate holders bear a higher probability in the occupation of graduate vacancies as opposed to individuals having the undergraduate award alone. Therefore, the preceding rationales act as the chief validations for the MBA program since even with the attainment of a good career devoid the recompense element constitutes to frustrations. Debating between the rational views as well as the counter views has acted as a means towards knowledgeable decision making.
References
1994 Group. (2008). Graduate Employment and Earnings: Are Universities Meeting Student Expectations? Retrieved from http://www.1994group.ac.uk/documents/public/081118_GEEresearchReport.pdf
The Sutton Trust. (2010). The Social Composition and Future Earnings of Postgraduates: Interim Results from the Centre for Economic Performance at the London School of Economics. Retrieved from http://www.suttontrust.com/about-us/annual-reports/the-social-composition-and-future-earnings-of-postgraduates/Sutton_Trust_Postgraduate_report_01032010.pdf
U.S. Census Bureau. (2011). The 2011 Statistical Abstract: Education. Retrieved from http://www.census.gov/compendia/statab/cats/education.html
Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.
[order_calculator]