Which Management Qualifications Are Right for You?
As recently as 2007 the UK was suffering from relatively low levels of management qualifications amongst business leaders. Compared to other professions, managers are among the least qualified with 41% of managers holding less than a level 2 qualification and just 38.5% having a level 4 qualification or above.
This dearth of management qualifications is a great opportunity for those with a little business nous to make a big impact in the corporate world. The majority (74%) of employers have stated that they really respect and value MBAs (Master of Business Administration) and those with academic business management qualifications are considered much more likely to get ahead, increase their earning potential and productivity, and develop a substantial professional reputation.
Yet MBAs are not the only management qualifications available. There are many different ways to get these types of qualifications, from academic degrees to vocational training, but which type is best? Which is right for you, and which will further your career the most? Read our quick break-down here:
Academic Qualifications:
Foundation degrees, Bachelor degrees, Masters, Doctorates
Academic degrees are better respected in corporate circles. MBAs are the best known academic management qualifications and are highly regarded and valued by 74% of employers. Academic qualifications tend to be more theoretical than practical, which will allow you to become a far more self-analytical and perceptive manager. If you are hoping to find a job and enjoy swift career progression after completing a management qualification then an academic management qualification might be right for you.
However, for those who are more practically minded and do not have the time or money for a long degree, shorter, more practical and more flexible courses might be more suitable.
Professional Qualifications:
Certificates, Diplomas, ILM (Institute of Leadership and Management) awards
Although diplomas are often carried out through further and higher education colleges, they are usually shorter than degrees and are often a little more straightforward and introductory. A diploma may be a good way to introduce yourself to the world of business and can be an excellent stepping stone towards an MBA. If you are uncertain about your academic capabilities, professional qualifications will help you feel more confident in your abilities before you take the plunge for real.
Vocational Qualifications:
S/NVQs, VRQs, NVQs
If you are not academically-minded but learn well by putting concepts to practical use, vocational qualifications might be right for you. Vocational management qualifications combine all the key concepts associated with managing a business, but teach these concepts in hands-on practical ways.
Although professional and vocational qualifications are not as highly regarded as academic qualifications, this is generally due to a certain level of snobbery and a lack of understanding about the benefits and merits of vocational training.