Choosing to pursue an MBA can be life-changing. Itís not just your career that stands to benefit but also other aspects of your life finances and future goals. Whether itís a business that you want to start in the future or want to move up the career ladder and become a manager, getting a masterís in business is going in the right direction.
So, are you thinking of applying for an MBA program but arenít quite sure yet? Here are eight reasons to convince you:
It Increases Job Opportunities for You
It with no doubt that more people today are advancing their education. For this reason, competition in the job market, especially in high-demand sectors such as business, has become stiff. The more you improve your knowledge and skills, the less competition you will encounter.
Overall, employees with graduate degrees are doing better than their counterparts with lower degrees in most industries in America. So, the higher your educational accomplishments, the more employment opportunities you can access.
It Can Boost Your Earnings†
In some cases, your level of education may block you from getting a wage increase. Without a graduate degree, your starting salary may start quite low. Also, it may take you years to reach the same pay level with an MBA graduate. Earning an MBA gives you a better chance of negotiating a higher salary in your next job application.
If you are looking to stay with the same employer, advancing your education allows you to get promoted. MBA graduates have a higher earning potential compared to employees who donít have MBAs. In fact, an MBA has long been regarded as one of the surest ways to increase salary.
It Qualifies You for Top-Level Managerial Positions†
Getting to be a manager or executive in your company starts with having the right academic qualifications. Relying on excellent performance and years of experience in your current position alone might not cut it.
If you look at managerial level job listings on major job boards, you will see an MBA mentioned as one of the required qualifications. Thatís because prospective employers look for candidates with certified management skills to give these jobs to. Without an MBA, it can be hard to get noticed for anything other than entry-level/junior-level opportunities.
It Equips You with the Skills You Need to Start a Business
Pursuing an MBA is definitely the right choice if you plan to start your own business now or in the future. The program will teach you everything you need to know about running a business. That includes the basics of starting a business, actions to help your business succeed, and pitfalls to avoid along the way.
In fact, many students who earn MBA programs go on to build their own startups. Youíll also get to interact with other like-minded people pursuing the same course as you. So, you could also find a great business partner from your class.
It Can Help You Make that Career Change Youíve Always Wanted
Are you stuck in a job that has little to no room for growth? Are you just bored or frustrated with your current role? Sometimes, it may seem like thereís no way out of a tedious or unrewarding job. But pursuing an MBA program from a good school could be the boost you need to launch a career in a new industry or role.
Of course, itís good to identify where youíd like to move to before choosing a program so that you make the right selection. A good number of MBA students end up pursuing careers in new sectors/industries.
It Offers a Wide Selection of Specialization†
When you begin researching MBA programs, youíll be surprised at how many specializations there are. So, you donít really need to cover everything in business, just the branch you want. Depending on your target niche, you can pursue:
- General Management
- International Business
- HR, etc.
You Can Study an MBA Anywhere in the World and Even Online
You can find a great MBA in your own country or abroad. There are good business schools all over the world. Thereís UPenn, Stanford, and Harvard in the US, while in the UK, youíll find Oxford, Cambridge, and London Business School. In Canada, thereís the University of Alberta and the University of Toronto.
Australia is also an excellent destination for studying an MBA, with institutions such as Melbourne Business School and Monash Business School being good options. Other countries with great MBAs include:
However, many of these schools are quite competitive. Make sure your application documents are looking great and polished by passing them through https://www.essayedge.com/ for professional editing. If you are looking for convenience, there are plenty of MBA programs you can do online, too.
MBA Alumni Recommend It†
What is better way to rate a degree than considering how people who have pursued it feel about it? A few years ago, the Graduate Management Admission Council, otherwise known as GMAC, surveyed MBA graduates on their experience during and after earning their degree. According to the resulting Alumni Perspectives Survey Report, 95% of alumni rated their MBA as outstanding, excellent, or good value.
Furthermore, 4 in 5 graduates said the degree met their expectations. The majority stated that they would still pursue the MBA with the knowledge they have now. Knowing that, rest assured that applying for an MBA wonít be a decision you will regret later.
If you are in the business sector and havenít pursued an MBA yet, it is the time to consider applying for it. It has plenty of benefits to offer, whether you plan to be employed most of your life or venture into entrepreneurship. Most MBA programs are flexible. So, if you canít afford to dedicate all your time to the program, go part-time, and keep your day job.