Merchant Navy is a specialized field, which provides an experience unlike that offered by any other profession. However, the constant travelling, almost zero social life, and hostile working environment can take a toll on people working on ships. These reasons have also been the main driving force behind people leaving sailing for a shore job.
In case you are one of those, who want to shift to a shore job or want to go for further education, a degree in Masters in Business Administration (MBA) would be the best option for a promising career on shore.
Why MBA in Shipping?
The Master of Business Administration (MBA) has been a hot choice for furthering one’s career aspirations for a very long time. Many b-schools have sprung up, offering the course with a wide range of electives to specialise in.
For seafarers looking to switch careers, advance their knowledge in shipping, or change functions within the shipping industry, MBA has long been a conduit to facilitate the aforementioned transitions. Amid a plethora of shipping management course offerings, it is important to navigate through those that are relevant to one’s need and career goals to choose an MBA (or a specialised Masters, as the case may be) while keeping in mind the course content, return on investment (ROI) and prospective employment.
With regards to prospective employment (a legitimate concern considering the significant investment of time and money), the MBA in shipping courses spans different countries with different work visa regulations, a critical aspect when researching the big step in business education. Without further ado, let us dive straight into the topic.
What kind of MBA can a Maritime Professional do?
A maritime professional can opt for any one of the following MBA programs. Note that these are not the only options. However, these would offer the best future prospects considering the kind of work experience maritime professionals already have.
- MBA in logistics and supply chain
- Port management
- MBA in shipping management
- MBA in shipping and logistics
- MSc in maritime administration and logistics
- MSc in international trade
- MSc in port management etc.
A person, who wants to explore options beyond the shipping industry, can choose any one of the conventional subjects of MBA such as Marketing, Finance, Human resource etc.
However, an MBA degree in above-mentioned programs would benefit a mariner who already has the right kind of experience and knowledge of the subjects taught in these courses.
What are the MBA selection criteria for Maritime Professionals?
All reputed colleges providing an MBA degree in Shipping look for two main things – decent work experience and the GMAT score (or equivalent). They also take into account a good work profile and consistent grades throughout high school and graduate program.
Also, note that some colleges providing MBA in shipping can consider a candidate without a GMAT score if the person has extensive sailing experience (more than 7-8 years) along with an exceptional past record and work profile. However, this criterion is decided solely by the concerned business school.
Apart from GMAT, one would also require clearing English languages proficiency tests such as TOEFL and IELTS. (This is only if the person is applying to an international business school and when English is not his or her first language.)
How can a degree in MBA help a maritime professional?
When a mariner wants to shift to a shore job or want to go for higher education, there are a couple of options available. However, to get a decent position in a reputable shipping company, one requires two main things –
- Extensive job experience (More than two years)
- A degree in MBA (or equivalent higher degree)
If you already have a good amount of experience sailing as a captain or a chief engineer of a ship, then you are probably the right person for a managerial position in a shipping company on shore. However, the experience of a Chief engineer or a Captain backed by an MBA degree would surely make you more “preferable” for the right position.
But this is about maritime professionals who already have extensive experience at sea. What about those officers who want to quit sailing early in life for an office job on shore? It is often seen that shipping companies are reluctant to recruit officers with less managerial level work experience at the sea. For such officers, an MBA degree would open many doors of opportunities not only in the shipping field but also in other sectors.
What’s the first step towards MBA?
Getting a degree in MBA from a reputed university is no piece of cake. Competition is fierce and the process is lengthy and stressing. One needs to have a good amount of dedication along with clear goals in order to attain an MBA degree in shipping.
The first step towards an MBA degree would be to clear a standardized management test (entrance exam), which is necessary to apply for an MBA degree in a reputed college.
Each country has its own standardized test for MBA colleges. For e.g. India has the Common Admission Test (CAT) for MBA.
However, anyone who is looking forward to an MBA degree from an international college, he or she will have to get a decent score in GMAT (Graduate Management Admission Test), a computer adaptive test which is accepted by almost all business colleges around the world.
Some private business schools have their own MBA entrance exams and selection procedures. However, GMAT is accepted by all the top reputed management colleges around the world.
A Generalised List of Admission Requirements for an MBA:
- Undergraduate degree in any discipline
- GMAT or GRE score
- Letter(s) of recommendation (usually two or three)
- Filled application form
- Essays/Statement of purpose
- Work experience (not always required but always preferred)
Note that the above vary among countries and course choices. Master’s degrees in the US require an individual to take the GMAT or GRE while those in Europe don’t have that requirement. For the MBA, as mentioned earlier, most of the recognised universities require the GMAT (the GRE has become an alternative even for the MBA with most schools accepting GRE scores now). For the prestigious IIMs (in India), the CAT examinations determine the prospect of entry into one of them.
Main Exams For MBA
The Graduate Management Admission Test (GMAT) is a computer adaptive test scored out of 700 intended to assess certain analytical, writing, quantitative, verbal, and reading skills in written English for use in admission to a graduate management program, such as an MBA. Follow the link to know about the exam; there are ample resources already available online to know all there is to the exam.
The Graduate Record Examinations (GRE)is a standardized test that is an admissions requirement for most Graduate Schools in the United States. The GRE aims to measure verbal reasoning, quantitative reasoning, analytical writing, and critical thinking skills that have been acquired over a long period of learning. The content of the GRE consists of certain specific algebra, geometry, arithmetic, and vocabulary. The GRE General Test is offered as a computer-based exam administered at Prometric testing centres.
Future Prospects: Is MBA in Shipping For You?
Almost all prestigious MBA programs conduct their admissions process with the basic tenet of diversity in mind, meaning that applications are welcome from candidates across various industries and functions. It is not unheard of to have military veterans, investment bankers, private equity professionals, engineers, management consultants, writers, athletes and seafarers rolled into one MBA cohort. It is this aspect of diversity that enables an enriching class that has input through real-life experiences from different backgrounds, amalgamating into a well-rounded output with different perspectives to decision making.
The MBA or Masters can open up opportunities in chartering, shipbroking, ship operations and business development in a maritime-focused company (among others). It can also help a candidate to switch careers into financial services, supply chain, energy, trading, consulting etc. In a two year MBA curriculum, for example, the first year is spent focusing on the core business subjects, enabling the candidate to develop a working knowledge of accounting, managerial economics, organisational behaviour etc. – knowledge that is applicable to any industry. The second year is spent specialising in their choice of the industry through electives.
Where to Do MBA in Shipping?
The information will now be continued country wise, listing the top couple of/few courses pertaining to the maritime industry (along with other details) or the common course choices of seafarers who have already made their moves, depending on the country.
The list of courses is vast and with this initial introduction into the MBA/Masters, a prospective candidate can continue to do their own research to see which course fits their career aspirations best.
United States of America
The US of A is awash with the best names in management education. From the world’s best universities in business education such as Harvard, Stanford, Wharton to the best-specialised programs in supply chain management at Sloan (MIT), Smeal (PSU), Broad (MSU), WP Carey (ASU) – the US has plenty of choices to fulfil one’s career goals, whether they are to switch industry and/or functions or to further one’s interest in an overall general management education. However, the US is not the best option if one is focused on getting a degree specific to the maritime field. There are a handful of colleges that offer a Masters degree related to the maritime sector and they primarily cater to the domestic candidate and aren’t really popular among seafarers in the past. Note that a general management MBA is not focused on the maritime field but can open up a wide array of options in a variety of industries and functions, including the maritime field.
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