MBAs and career development: a literature review from the human capital perspective

Abstract

The MBA program plays a key role in the development of managerial competencies as well as in the creation of successful professional careers in the business arena. Although its longtime reputation, the MBA has been object of numerous criticisms that question the value it represents to its graduates. In response to these inquiries, several researchers have focused their works in analyzing the impact of the MBA on human capital, finding evidence of an important added value for the professional careers of its graduates. This article presents a systematic literature review in order to achieve a deeper understanding of the MBA impact on professional career development from a human capital perspective. In particular, a total number of 38 empirical articles published in high impact journals were reviewed. Results indicate that this type of graduate program in Management has effects on three central dimensions of human capital: educational, intrinsic value, and social-cultural. Likewise, implications for both future research and professional practice are discussed considering three major interest groups: individuals interested in pursuing an MBA, employer organizations, and business schools.