6 Reasons for Earning an MBA
Every person who works in business reaches a point in their career when they consider returning to school and earning a Master’s in Business Administration.
An MBA is still considered the gold standard for those who want to move into executive-level positions where they have a strong influence on business strategy. But earning an MBA also presents demands, especially on a busy professional’s time. The emergence of quality online MBA programs has helped with this issue, offering students flexibility on when to attend classes, and allowing them to fit education around their work and personal life.
Earning a MBA is worth the effort! Consider the following reasons.
1. Better Salary
Those who earn a master’s degree position themselves for promotions. Getting the most out of a career in terms of pay is always a consideration. According to the U.S. Bureau of Labor Statistics, professionals who earn a master’s degree in the United States make a median weekly salary of $1,380, more than the $1,156 earned by those with a bachelor’s degree. That’s an increase of $11,648 per year.
2. Transferable Skills
MBA students acquire both hard and soft skills which can be used in many industries. While a professional entering an MBA program might have their mind made up to work in finance, they will learn skills that can translate to healthcare, retail, technology, and even government and nonprofit work. These types of skills make a professional a much more attractive job candidate in whatever field they pursue.
In earning an MBA, the benefits far outweigh the challenges. Earning an MBA sends a clear signal to the business world that you are ready for a position of leadership.
Most MBA programs push students to tackle challenges they have never faced, such as managing teams on a project. This is a critical issue for future leaders to understand. Soft skills play a much larger role in this area. Only practice and experience can help students become the type of leaders that others want to follow.
4. Being Challenged
Professors in an MBA program will challenge you. That’s part of their mission. Students in MBA programs tend to be high achievers who perhaps have not been challenged as much as they should be. When you are smart and ambitious, things come easier for you. An MBA program will test students and push them outside their comfort zones. That better prepares them for leading organizations in the future.
5. Widening Your Perspective
Most who enter an MBA program are confident about what they already know and what they have accomplished. Graduate school quickly shows individuals how much they can still learn. It places them in contact with others who have achieved just as much, if not more. Keeping this kind of company – and learning about advanced business strategy – can only widen a professional’s perspective on the business world. That includes a better understanding of the interconnected nature of the global economy beyond just their corner of the business world.
Most who enter a graduate degree program end up making connections with many like-minded people with similar ambitions. For example, many share a desire to move higher up the organizational chart. In addition to the many business contacts made through graduate school with fellow students, professors, and industry professionals, students also have the opportunity to make friendships that could last a lifetime.