The equation of pursuing masters is not limited to MBA and MSc anymore. If you are looking for a new alternative to traditional career paths, Luxury Brand Management can be a great option for you to choose. Luxury Management is going through a big bang of existence in the world. The growth, it has shown over the last few years is tremendous.
Luxury brand management is rapidly becoming the preferred career choice for many graduates. Here are the 6 factors which make it preferred over a regular MBA:
The first and main difference is your own choice of industry preference. Luxury management is luxury industry oriented, while regular MBA equips you with the management skills to work for any industry. However, a regular MBA may not have the skills to cater to the luxury industry audience. But, a luxury management graduate can work at any level for any industry apart from its own with the same intensity.
Master’s in Business Administration by definition is a post graduate degree that provides theoretical training in the field of business and investment management, after which an individual still requires brand specific training in any organization he/she works in. But, luxury PGDM courses provide both theoretical and practical training from luxury industry veterans which makes them ready to start working right after graduation.
Another major difference in the two courses is the campus type. While most of the MBA colleges and universities have a large campus, Luxury Management colleges and institutes choose to provide boutique campuses. The main reason behind this is the number of students both of the courses cater to.
The demand in mass for MBA is much more than Luxury Management. To meet the ongoing demand, MBA colleges cater to a large set of students, thus have a bigger campus size. Luxury Management as a field of qualification was created in Europe, and only selected students were taught in small numbers. This paved the way to a personalized form of learning known as Boutique Education. That’s why, Luxury Management colleges, instead, focus on training selective students, and thus have a boutique campus.
Teaching MBA students is a field of profession itself. But, Luxury Management is not a field of academic profession yet. The course itself is not in line with traditional MBA academics. It is more into practical skill development and training than academic knowledge. Thus, the best people to teach such skills are the Luxury Industry veterans themselves. That’s why, in Luxury Management Colleges like LCBS, every faculty is an industry veteran with one or more experiential knowledge as well as expertise in the luxury industry.
Usually, a typical full-time MBA course lasts for two or more years. The course is divided into trimesters per year and at the end involves internships and practical projects. Here, PGDLM gets a clear advantage in terms of duration, as even with full-time it can be completed one year faster than an MBA.
There is a clear cut difference in the type of recruitment an MBA graduate experiences than in case of a Luxury Management graduate. While any brand can come to recruit an MBA degree holder including luxury brands, Luxury Management graduates experience only luxury brands either domestic or global.
It is also true, but not limited, that Luxury Management graduates can easily cater to any industry lower than its own. But, for a regular MBA catering to the luxury brands as efficiently as a PGDLM graduates may not be easy.
In today’s business environment, getting only a degree will not suffice in acquiring a job. It needs real-life skills which Luxury Management courses at Luxury Connect B-School can equip you with. The right course choice at the right time will garner you into not only a highly trained professional, but also a thought leader for the top global brands.