Nihal Sharaf
Staff Writer

KUWAIT: The financial crises continues to hold strong in many economies around the world bringing with it layoffs, bankruptcy and recessions. In Kuwait the situation is not as severe; however, career ambitions and advancements may have been put on hold until companies regain their strength.
In the meantime, there has been a vast increase in MBA students seeking to improve themselves for any future promotion opportunities or job prospects. Al Watan Daily spoke to a number of students at Kuwait Maastricht Business School to understand why they are taking the MBA during this time. They said that acquiring the MBA is an investment in oneself and his/her company and that the degree will increase knowledge and decision making skills and may help combat difficult financial times.
"There are many BA graduates in the market and since I''m working in the financial sector, I try to be distinguished by enhancing my performance in my job as well as acquiring more knowledge. This can only be done through the MBA program," said Maastricht Alumni and Private Financial Services Department Manager at Investment Dar, Khalid AlـAun.
He added that the MBA should be taken on by people with some experience in the work field; "If I had taken the MBA at the beginning of my career, I would not have benefited as much as I did now, because it is global, diverse and very broad. You need to be a specialist in one area to be able to use all this knowledge and apply it in that area when you graduate. With four or five years of experience, I think you can do much more with an MBA than a fresh graduate," he commented.
On the effects of the financial crises and the decision to take the MBA he explained that people who have the MBA are the least affected by layoffs; "In Kuwait, the salaries and benefits were exaggerated for the past five years. A manager these days is taking much more than a manager did maybe five or six years ago, so after we come out of the financial crises, the salaries will be more stabilized."
Senior Manager of Corporate Finance at Boubyan Bank, Khaled Omran, who is in his second year at Maastricht also said that the MBA is very important to have during this time; "I am at the senior level in my career and I hope to join top management someday and the MBA covers a lot of areas in top management, for example strategy and how to make a management control system to evaluate how to deal with people. This is my plan, to get the MBA so when I get promoted I will have the qualifications and experience."
He said that it is never too late to get an MBA, especially if you are in middle management in any company; "Apart from the increased job opportunities for people with MBA, acquiring it will also better decision making within your organization," he explained, "In the financial crises, making good decisions is very essential because you don''t know what is to be expected tomorrow. Even if you don''t want to move or shift from your organization, you will save your organization with the MBA."
He commented that it is not that expensive to get the MBA as he is paying more for his kids'' school. Instead of investing in stocks or real estate, he is investing in himself, he said.
On her part, Business Analyst at the National Bank of Kuwait (NBK) and graduating MBA student, Dia Mohammed, said that it was her dream was to become a doctor at her university, so the MBA is a step towards this dream; "Nowadays, during the (financial crises) MBA has really become nothing, before it was (very impressive). Even the PhD has become nothing, everyone has now the opportunity to continue in their education."
She said that if people want to develop themselves in any career they have to have a higher education. In order to take the MBA, they have to have minimum years of practical experience since the MBA is a managerial tool to take decisions and how to be a decision maker, "If you don''t have any experience, you will just not understand or grasp the concepts you are studying," she commented.
Group Representative in Wisaband Telecommunication Company, Ahmed Hassan also agreed with his colleague and said that these days the BA is the same as a high school diploma. "It is easy for anyone to get a bachelor degree, so getting an MBA is a must to broaden your skills and opportunities to work," he said.
On her part, NBK Branch Manager, Hadeel AlـShemmari also commented that she is already a branch manager at the bank, but with the MBA she can open her eyes more on the market and see it from different perspectives; "I can now understand the financial crises more from the MBA and I can analyze it easily," she stated.