MBA graduates tend to be ambitious and driven, but a recent study from Bain & Company shows that they want more from life than just a great job.
The study reveals that young MBA students and graduates also want rich personal lives. ‘Overall, MBA students are thinking more holistically about what they want to accomplish both personally and professionally. They are no longer focused only on career trajectory. They want rich, multidimensional lives,’ concludes Julie Coffman, chair of Bain’s Global Women’s Leadership Council and co-author of the study.
La Trobe University’s Associate Pro Vice-Chancellor, Amalia Di Iorio, notices the same trend:
‘Where once MBA graduates considered high-flying jobs with attractive salary packages as the measure of success, today success is defined quite differently by many. A happy family environment and a job that provides both personal and professional satisfaction have become important’.
The gender gap is closing
What especially stands out is that the desire for work-life balance is now a priority for both men and women. More than half of them said that they prioritised non-work commitment over career progression. ‘It’s not just a woman’s issue anymore. The biggest change for the millennial generation is that men now share the aspiration for a multifaceted life scoreboard equally with women,’ says the study.
The numbers also show that both men and women choose business school for similar reasons (better career options and greater expertise) and that they aspire to top management jobs once they graduate.
A different work model
But it’s not only about flexibility; most MBAs are also looking to make a positive impact in a job they truly love. Half of the MBA students and graduates said they would like to work in social impact at some point in their career.
‘Today there is a real focus on completing an MBA to develop skills and knowledge that will enable graduates to work in a broad cross-section of organisations, including not-for-profit organisations, community groups, and start-ups. Hence MBA programs are changing and include areas such as CSR, responsible leadership and social entrepreneurship,’ says Amalia Di Iorio.
MBA graduates are looking for different work models. The report says that an upcoming generation of business leaders who are no longer solely focused on the corner office would force universities and employers to adapt their curriculum to reflect the fact that “work at all costs” careers are no longer as attractive.
Dr Suzanne Young, Head of Department of Management and Marketing at La Trobe:
‘Recruiters and HR professionals understand that to attract the best talent they need to engage with potential employees at a more holistic level, providing careers that support employee values, provide work that makes a difference to themselves, the organisation and the communities they serve, and provide work environments that support employees to develop all aspects of their working and personal life.’
La Trobe’s MBA
La Trobe’s MBA focuses both on personal and professional skills development in general management.
We offer flexible delivery modes, including evening and weekend classes, full or part-time study and an online program at our new City Campus.
La Trobe’s MBA is not just taking the next step in your career. By studying with us, you’ll also consider issues like responsibilities to co-workers and the community, and graduate ready to make a real world impact.