Many people equate career success to their position and how much of money they make. Anyone seeking executive placements will know many advertised jobs have a requirement for MBA. You might not think this is irrelevant, but without the MBA you won’t be shortlisted. It’s probably not worth the effort to apply and you might need to just keep on dreaming your grand plans for the future.

An MBA verifies professional experience and opens up executive level opportunities for promotion, change of job roles and salary increases. However, MBA study is expensive and takes up substantial time. It requires great effort and self-discipline to complete, especially if you’re working fulltime.

Entering MBA study programs requires demonstration of senior management level experience. It is common that people seeking MBA already have major commitments to work, family and personal life. The burden of study can create limitations on being able to study effectively.

Many companies once willing to sponsor staff to complete MBA have now restricted this due to tough economic circumstances. Competitiveness has increased in paid study programs with the limited places available, so you need to be at the top of the pack for any chance to secure a position.

There is a viable MBA option available if you are an executive. RPL can be used to fast track completion of MBA and it saves you a huge amount of money and time. Many people consider this is a dubious claim and often question if it is a legitimate form of study for post graduate qualifications. RPL assessment is fully endorsed by the Australian Qualifications Framework (AQF), the guidelines for all post secondary study in Australia.

RPL is detailed in the AQF as a key requirement that must be provided before applicants commence vocational or tertiary studies in Australian. RPL (as well as skills recognition) makes allowance for the skills, knowledge and experience each individual develops as they work in roles throughout their career. The AQF ensures any person seeking to enrollment in a course of study must be offered an RPL review to verify their professional skills and expertise. Career experience is matched against competency requirements in the qualification being completed. The AQF provides “articulation pathways” and allows opportunity to easily progress from one qualification to another between educational institutions.

Many of Australia’s most reputable universities are now marketing options for MBA fast track based on an individual’s understanding of the units of study within the MBA program. One of the best methods for fast tracking into MBA is using RPL to complete a post graduate qualification such as Graduate Certificate or Graduate Diploma. Credit transfers and exemptions are provided for the MBA once the post graduate qualification is completed.

To complete the Graduate Certificate or Graduate Diploma you need to submit detailed evidence verifying your industry knowledge and experience. RPL assessment flexible and allows submission of a diverse range of evidence. This includes references from managers, testimonials from industry colleagues, operations manuals, systems and procedures, rpl business plans, reports, financial forecasts, business projects, case studies and other documentation that has been produced “on the job”. Evidence submitted for post graduate qualifications must be highly detailed and technically complex, proving you comply with “dimensions of competency” for the qualification. This is your professional work performance, primarily determined by professional task skills, task management and contingency management in various roles, across a range of job environments.

Evidence submitted is verified using checklists and “competency mapping” documents that allow for detailed review against the elements in each Unit of Competency contained in the qualification. The checklists also give consideration to “employability skills” and will ensure your career experience and skills adequately reflect expected industry standards to be deemed competent.

RPL for Graduate Certificates and Graduate Diplomas match the competency requirements in the MBA, so direct credit transfers and exemptions can be applied to specific Units. Competency mapping is conducted by the University issuing the MBA qualification, with direct reference to Units in the post graduate qualification. This ensures full compliance and appropriate credit transfer.

Completing post graduate qualifications using RPL provides a simple, cost effective and time saving method to obtain an executive level qualification and receive substantial credit exemptions for MBA.

Once your assessor receives evidence for RPL assessment commences immediately, with skill and knowledge mapping and full review of evidence to ensure to it is valid, sufficient and current. If “competency gaps” are identified, you are provided opportunity to submit additional evidence. You can also undertake an informal “competency conversations” with the assessor to discuss and clarify specific elements in detailed, so your professional understanding can be clearly defined and documented.

Once you’ve been deemed competent, you are issued with the post graduate qualification, then you can enrol in MBA programs with any University offering direct credit transfer options. This could save almost half the time and cost of MBA, with the benefits of reducing personal stress and work pressure and you will obtain both a post graduate qualification and MBA.