Earning an MBA degree can have a number of expected and unexpected benefits in your life. In fact, it has become fashionable of late to cast doubt on the merits of getting an MBA degree, especially one from a two-year program that costs a lot of money. However, there has never been a shortage of applicants to most business school.
Pursuing an MBA in order to advance one’s career makes a lot of sense. After all, most multinational firms are in need of potential employees with not only skills to perform the job but also provide sound thought around making business decisions.
No matter which industry you serve, public or private, they all operate on the same business principles. These include strategic, operational and tactical decisions. Driving operational excellence is a must to drive future growth in your business.
You can enrol for an MBA program either as a part-time or full-time program. However, the majority of current MBA students are on part-time whether online or in a traditional program. Additionally, MBA programs are only open to students with professional experience in their chosen career. The experience might be technical or business-related such as finance, sales or marketing.
- 1 What is an MBA?
- 2 10 Good Reasons to Pursue an MBA Degree
What is an MBA?
The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The program focuses on the analytical, functional and ethical applications of business. On-campus or online, MBA programs typically require students to choose a specialization, such as accounting, marketing, or entrepreneurship.
10 Good Reasons to Pursue an MBA Degree
You might want to ask, why should I do I need an MBA degree? Well, we’ll be highlighting the top 10 reasons why you should enrol for an MBA program today.
1. Higher Income
Many people enrol for an MBA program because of the higher earning potential. In fact, if you compare the salaries paid out to an individual with an MBA and those with other degrees, you’ll see that there is a significant difference. So if you want to earn big, you should probably consider an MBA degree.
Earning an MBA degree can help you establish credibility in your firm and in your industry. People conducting business with an MBA graduate will be more relaxed and inclined to do so in comparison to someone without an MBA.
It shows potential partners that you are highly competent and dedicated to your industry. In addition, it shows mastery over a particular area or sector such as finance, management, business consultation etc.
3. Be Your Own Boss
An MBA program primes you to become a successful entrepreneur. By enrolling in an MBA program, you can acquire the necessary knowledge and practice needed to develop and operate your own business.
The coursework for an MBA program sharpens your thinking and inspire creativity. With an MBA degree program, you’ll be taught business management, planning and even financial handling. These skills will put you in the perfect position to manage your own business effectively.
4. Better Career Opportunities
Many companies prefer candidates with an MBA degree for a number of roles. Earning this degree significantly expands the number of potential job opportunities for which you qualify.
With several core areas covered within an MBA program, an MBA graduate can pursue a career in multiple areas and business sectors. With the different core areas penetrated, MBA graduates are provided with more and better opportunities to expand themselves and develop their minds.
5. Better Communication Skills
An MBA program can help sharpen your communication skills. As part of the program, students are taught how to speak clearly and distinctively. This skill is taught to help them communicate better at work with colleagues, bosses or employees.
They are taught the art of language, how to add meaning to their words, how to develop effective and exceptional presentations, and overall, how to interact with others in and out of the classroom setting. These communication skills are invaluable in the business world.
6. Better Time Management
Enrolling for an MBA program can help you cultivate self-discipline for better time management. MBA students have a better understanding of their capabilities for producing work in an allotted time. It could also mean being more efficient during work hours to get more done in less time or with less effort.
7. Increased Self-Confidence
Although this reason is nonfinancial, an MBA degree helps increase your self-confidence. The feeling of accomplishment and the education and skillsets gained by earning this degree can improve anyone’s confidence as they make their way through the business world—and through life. By earning this degree while also balancing work, family, social life, and other personal commitments (and not losing your sanity) you will find an immense sense of reward and personal achievement.
8. Transferable Skills
An MBA program equips you with transferable skills. This is because much of the knowledge gained from earning an MBA is applicable across many industries. As an MBA graduate, you become more skilled and versatile regardless of your industry or job description.
Unlike career-specific advanced degrees like a teaching credential or a medical degree, an MBA can transfer easily to many industries and offer you a wide array of careers throughout your life.
9. Network of Colleagues
They say it’s not what you know, it’s who you know. While earning your MBA, you come into contact with faculty and fellow students and alumni of the program who begin to form—or add to your existing—network of colleagues. These include people both within your industry and outside of it and are often spread out across the world, which can translate to promising opportunities in the future.
Anyone of these connections may introduce you to your next big opportunity. Networking involves finding those individuals and companies who inspire and uplift you.
10. Personal Development
One of the core benefits of an MBA degree is personal development. With a new outlook on life and the business world, the different areas taught in an MBA program will develop the student’s survival skills and professionalism, enabling them to develop into exceptional communicators and advisers. Without a doubt studying a Masters in Business Administration will alter your whole perception of life and adjust your mind for the better.