Deciding to study an MBA degree is a big decision to be made. Is pursuing an MBA program worth aspiring managers’ time? Is the financial investment worth it?
1. MBA Courses Are Flexible: Full-time, Online, and Anywhere You Want
It seems impossible to study when you are managing many concurrent commitments but today you have the option of taking the program so that it suits your needs. Credible universities offer part-time and online MBA programs. There are also blended learning programs, where you mix online learning with face to face time with your classmates and professors:
2. MBA Graduates Tend to Double Their Salaries Within Three Years of Completing Their Degree
Since the Financial Times began collecting data, their findings show that MBA graduates have always at least doubled their salaries within three years of completing their degree.
According to Poets & Quants, some graduates were capable of making twice as much as others based on the field entered.
The average early-career MBA graduate salary varies according to their specialization:
MBAs specializing in Strategy – $96,200 per year
General and strategic management – $85,200 per year
Corporate finance – $78,100 per year
Accounting and business – $54,900 per year
Healthcare management – $51,200 per year
Human Resource (HR) – $48,400 per year.
Work experience also contributes significantly to an MBA’s salary. The average MBA graduate salary according to experience (PayScale survey):
< 1 year of work experience – $52,872 per year
10 to 19 years of experience – $100,283 per year
3. Open the Door to Thriving Career Opportunities
Graduates of MBA programs have higher chances of getting a high-level management position. Over 50% of MBA graduates worldwide work as senior managers or board directors.
When you browse the professional job sites you will notice that an MBA degree is required even if someone wants to apply for lower management positions. MBA degree shows the prospective employer that the applicant is qualified and can comprehend the advanced concepts of running a business and is surely worth to be invested in.
According to Financial Times, top employers hiring the most MBA graduates in Europe include McKinsey & Company, Bain, Deloitte, Ernst & Young, and Boston Consulting Group. American companies like Apple, Google, IBM, Procter and Gamble, Walt Disney, Nike and Amazon are also hunting for MBA graduates.
4. An MBA Means the Worldwide Recognition of Your Credentials
With an MBA degree on your résumé, it does not matter where you plan to build your career, your degree will increase your business credibility. The real advantage of an MBA, however, is its proven versatility. The transferable skills you acquired while doing your MBA, will allow you to pursue many careers and advance faster to better-paid jobs. This makes the MBA programs worth investing in, especially when you can study wherever you want.
5. You Can Get Free Access To a Large Business Network
Being an MBA student gives you great networking opportunities. You’ll be interacting with your business orientated colleagues, professors and teaching staff that comprises of business people with great management experience. Being immersed in this environment will accentuate your business management capabilities. It’s worth adding that most MBA programs provide internships where you will have a prospect of meeting your future employers.
6. You Will Learn How to Start and Succeed in Your Own Business
Many students choose an MBA because they want to become entrepreneurs and learn how to run their own business. They dream big and want to know how to turn it into reality. An MBA program is there to help you in acquiring business knowledge and practices that are necessary to start a new business or help existing ones to grow. Many MBA graduates do indeed end up starting their own business. Those who don’t, land middle-level or top-level management positions in market leading companies.