The MBA (Master of Business Administration) degree is probably the world’s best known and most widely recognised postgraduate degree.

The challenges imposed by the 21st century have made it an essential component that we upgrade our skills and qualifications.

The MBA - is it worth it? More importantly, is it worth the investment made by companies in sponsoring developing leaders on the programme?

Some decisions can be made and implemented quickly, however, the process of deciding, applying to business school, and then earning an MBA is seldom simple.

If you are looking to use an MBA as a ticket to move into a new job or industry, you’ve got to look at the big picture.

A typical MBA candidate has several years of full-time, post-undergraduate work experience.

Many women in senior positions confirm that the MBA has given them in-depth general management knowledge, the ability to develop in areas where they can add value and the confidence to lead others.

Since most people take the course in order to advance their careers, either within their own organisation or by changing jobs, the perception of the value of an MBA is crucial.

Research reveals that the MBA is held in high esteem by many South African employers, but also that there are some significant perception gaps between how employers see the value of an MBA versus the business school and student view.

To what extent can having an MBA facilitate a change of career direction, in search of more money or better prospects?

Many MBAs note "greater confidence" as one of the gains of the course. But in career terms that has a downside.

For those interested in pursuing further studies at a more advanced level, there are two qualifications that may suit MBA graduates.