The MBA – Masters of Business Administration – is a highly sought-after currency of academic and professional achievement. Frequently embarked upon by those with at least three years’ managerial experience post-graduation, the qualification is seen as offering a forward leap in career terms, and conferring increased professional credibility and earnings power.

MBAs teach techniques of business management for professionals who will usually either go into executive roles in business management, or go on to start their own businesses. The courses teach a range of business theory, from leadership, finance, operations and people management, as well as including practical components such as real-life business and consultancy projects.

Because of the training and the potential rewards they offer in terms of career prospects, demand for MBA courses has been growing at a rapid rate over the past fifteen years or so, and there are currently some 2,700 programmes offered around the world – principally concentrated in the global financial centres – the USA, the UK, Western Europe and the Far East.

Click here for a league table of global MBA providers, ranked according to different categories.

The rise in the number of courses offered has led to concerns that the certification is becoming devalued. And indeed it is the case that the paper qualification is no longer enough on its own (if it ever was) to guarantee a lucrative professional position; but must usually be supported by significant responsible work experience, and evidence of possession of high-calibre business and interpersonal skills.

However it is clear that the training offered by a decent MBA sets candidates in good stead, in terms of their business knowledge, their skill-set and their CV, and this continues to justify, for many business professionals each year, the outlay, which in fees alone ranges from £6,000 to £40,000 per annum (centring around the £10,000 to £15,000 mark for good UK courses).