The United Arab Emirates (UAE) economy is steadily growing as compared to the previous year 2016. Economists are looking at 3.2% to 3.5% growth in Gross Domestic Product (GDP), which is the highest in GCC for the current year of 2017. The emirate of Dubai has been in the forefront in this growth and has been acting as a catalyst for UAE’s economic growth. The primary reason for this growth is due to the modest numbers in the non-oil sectors like tourism, retail, and healthcare.
In such a dynamic economy, is studying a Masters of Business Administration (MBA) in UAE a good investment?
Benjamin Franklin once quoted “an investment in knowledge pays the best interest.”
Having said that, we need to understand both the students as well as the employer’s perspective before we decide if the management degree is really an investment for students and working professionals.
Student’s expectation from MBA course:
For students who are pursuing a masters degree, the two most important factors are acquiring new skills and the new opportunities it brings with it. When students learn different functions of a management like planning, controlling, staffing, and leading they learn skills at every stage. These skills help the students to enhance their employability and prepare them for further leadership roles.
Employer’s expectation from management graduates:
An employee has to do the right thing at the right time with least resources to be called as an efficient professional. Employers expect the management graduates to put into practice the skills acquired while studying MBA, thereby increasing the business efficiency.
Return on Investment:
ROI measures the amount of return on an investment relative to the investment’s cost. To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment, and the result is expressed as a percentage or a ratio.
ROI = (Gain from investment – Cost of investment)
Cost of Investment
According to the ROI formula, we cannot have a numerical value for “Gain from Investment”, but a perceived value such as new skills, salary hikes, alumni network, industry exposure, etc. On the flip side, an MBA degree in UAE can range anywhere from AED 70,000 to AED 100,000. But if you plan to study with Westford School of Management, you get the affordable fees for an MBA course from a UK university.
In this case, the ROI can’t be a percentage or ratio but a High Marketable Value.
If you are interested to know more about our MBA courses offered in Dubai, Sharjah and Abu Dhabi for fresh graduates and working professionals, simply drop us a mail on firstname.lastname@example.org or check our website for different courses offered.
Post written by:
Mr. Tausif Mulla
Associate Faculty & Marketing Specialist
Westford University College