Are you seeking a leadership role? Want to be responsible for a number of departments and staff members? Wish to gain the skills that will help you stand out from the crowd? If so, then an MBA could be the right course for you. Studying an MBA would see you gain intricate knowledge in a range of subjects, giving you the expertise needed to become a leader. In the world of hospitality, an MBA is particularly important – you will learn core business and finance skills that will complement your hospitality knowledge.
But what is an MBA in hospitality? And how can it advance your career? MatthieuMioche, Global Career Services and Industry Placement Manager from Les Roches Global Hospitality Education, tells us more.
It will teach you new skills
Whether you’re looking to continue rising up the ranks of your current organization, or you find yourself stagnating and need a drastic change, an MBA will really enhance your potential. The program will provide a challenging but exciting curriculum, increasing your knowledge of contemporary business and pushing you to achieve more.
An MBA will be a lot different to an undergraduate degree. You will be looking at specific areas in greater detail, gaining key insight and up-to-date knowledge. By choosing to study an MBA, you want to be a leader, so you’ll be taught how to manage teams and departments. A fundamental skill you will master is problem-solving – whether you are managing a five-star hotel, running a restaurant or owning your own resort, there will be challenges. When these occur, staff will look to their manager for guidance. An MBA ensures that when this happens, you will have the answers.
An MBA provides the chance to gain skills that cover a vast array of industries. For example, the benefits of an MBA in hospitality management would see you, alongside learning cutting-edge knowledge of hospitality, also gain a better overview of the world of business. No matter what industry you intend on entering, skills in the latter will be essential -an MBA will provide a deeper understanding of finance, business strategies and more.
The right balance of soft and hard skills will also be taught. Soft skills such as communication, teamwork and creativity are managerial essentials, while hard skills like organization and attention-to-detail are highly desirable. While studying your MBA, you will be surrounded by other like-minded professionals, all of whom you can learn from. This also means you’ll enjoy valuable networking opportunities, meeting contacts that could prove integral when it comes to seeking a new role.
It will provide hands-on experience
Studying an MBA won’t simply mean sitting in a classroom – you will also embark on exciting projects with leading organizations. If you’re interested in studying an MBA related to hospitality, a blend of theory and practical is usually expected. You will often be required to conduct an extensive project on a particular area or organization related to hospitality. For those already employed within the industry, you may have the option to tailor the project to your current workplace, which could be of great benefit to your company.
Projects such as these, as well as field trips and industry visits, will upgrade your skills beyond undergraduate level. You will analyze data, conduct research, prepare presentations and develop your critical thinking. If you’re interested in one day becoming a hotel manager, you will learn the functions and challenges of each department in order to successfully oversee and assist them.
It will advance your career
As previously stated, an MBA is the perfect course if you want to progress into leadership positions. There are a range of job opportunities after an MBA in hospitality management, including:
- Hotel manager
- Cruise director
- Events manager
- Restaurant manager
Your salary will range anywhere from $40,000 to over $140,000, depending on the role.An MBA will teach you the skills required for a range of industries, such as:
- Human resources
If you’re looking to study an MBA in hospitality and already work in the industry, ask your employers for some advice. If you are new to it, conduct some extensive research on what universities require. Some will desire experience, whether this be full-time employment, an internship or voluntary work. Other institutions may require an undergraduate degree in a related subject, while alternatively, some will simply seek an undergraduate degree of any kind.