An MBA may look great at the top of your resume but if it is not combined with a solid history of work experience, the qualification alone may not be worth much.
The majority of high-quality MBA programmes, not only in Hong Kong but across the world, expect a minimum of between three and five years' work experience - usually in a management position - from their applicants.
There are a number of reasons for this, the main being that the knowledge and experience each student brings to the class is something that other students can learn from. A student with no or limited work and management experience will have little to contribute in seminars and group discussions focusing on real situations in the workplace.
Another reason has been highlighted by the QS TopMBA.com International Recruiter Survey 2009, the world's most comprehensive survey of trends among MBA employers. Of the 743 MBA recruiters surveyed, the vast majority - 77 per cent - said that they were targeting MBA graduates with three or more years of experience. Only 2 per cent said they were targeting those with less than one year of experience, down from 11 per cent last year.
'This recession is making employers actively look for MBAs to fix problems or help them expand into emerging markets,' said Nunzio Quacquarelli, director of the QS World MBA Tour and author of the survey's report. 'Greater focus is being placed on leadership and communication skills. Employers are looking for people with experience who they feel can make a real difference straightaway.'
The good news for local MBA holders is that the demand for them on the mainland has reached near-record levels, even in the face of the economic downturn.
'Despite the recession, we received our largest-ever response from 743 MBA employers, with particularly strong response from Latin America and Asia this year,' Quacquarelli said.
'The MBA is becoming more and more relevant in emerging markets where companies are looking to business-educated graduates to assist them in capturing opportunities for growth in the global economy.
'This is stimulating demand for MBAs from elite Western business schools, but also from the growing number of regional business schools around the world.'