But wait, do you even need to go to uni?

It’s hard to see the MBA losing its lustre anytime soon, but a university qualification may not always be the best choice.

A study by the Grattan Institute found school leavers with a low tertiary entrance rank (ATAR) could be better off completing vocational education than heading to uni.

According to the report, vocational diplomas in construction, engineering and commerce can lead to higher lifetime incomes than many low-ATAR university graduates will earn with degrees in popular fields such as science and humanities.

Robert Half’s Nicole Gorton goes a step further: “The value of a strong candidate far exceeds their academic background no matter what university or course they graduated from. While an MBA or higher degree may serve to differentiate a candidate, there are no vocational qualifications that will devalue or detriment an applicant’s résumé.

“There are plenty of capabilities a jobseeker can highlight in their résumé which do not rely on academic experience, including demonstration of leadership, problem solving, industry experience, excellent communication and collaborative ability. These are all in-demand traits that employers look for in top talent.”

Gorton says digital transformation is driving significant change across industries and undertaking extra training in this area could pay dividends regardless of the qualifications you hold.

“While an MBA or Master’s requires a significant time and cost, there are a number of specialised, short VET or TAFE courses which focus on emerging skill sets that professionals can benefit from,” she says.

It goes to show that upskilling is always a good investment. And it doesn’t have to come with a upsized price tag to give your job prospects a decent boost.