In this modern era, the education sector, too, has progressed by leaps and bounds. But with subject and field choices spread far and wide, picking the right career path can be tricky.
The challenge primarily comes from rapidly evolving industries looking to hire employees who are just as evolved and trained to adapt to changing circumstances. Programs such as a Master in Business Administration (MBA) require candidates to achieve a certain level of experience and training before moving onto the real world. And while every academic degree holds its significance, the prestige and credibility you receive from one like an MBA remain unbeaten.
Even with the workload and grueling hours that an MBA degree asks for, it’s still one of the most popular advanced degree programs out there. It’s most beneficial for professionals with some work experience and looking for ways to advance in their careers.
So, if you’re also considering pursuing an MBA degree but are unsure if it’s the right fit, here are the top 7 reasons to do it.
1. More Job Opportunities
With millions of college graduates entering professional life each year, the job market is getting increasingly competitive. And potential recruiters and employers only want the best of the best, so they strongly prefer candidates holding an MBA degree. Besides their theoretical knowledge, technical skills, training, and work experience make them ideal for most job positions. MBA graduates also benefit from better job security than most other professions.
More importantly, with the feasibility of an online MBA program, you can pursue this advanced degree without putting your current job on hold. By the time you graduate, your degree and the work experience you accumulate during this time will open doors for you you never thought possible.
2. Climb The Corporate Ladder
Besides offering you numerous job opportunities, an MBA degree accelerates job promotions and makes you more eligible for executive roles. While every employee expects to progress in their career, budget cuts and inflation rates often force companies to delay preferments. However, qualified individuals still have the chance to climb the career ladder and reap the benefits of their hard work. This is because employers will value your worth and do their best to ensure you stay in the organization.
Of course, other factors like professional ethics, practical knowledge, interpersonal skills, and work progress significantly influence your promotion. But an MBA qualification sets you apart from other potential candidates and gives you an edge over them.
3. A Chance To Explore New Industries
Most advanced degree programs are field- or industry-specific. And so you’re best suited to work in your chosen study area when you earn your degree. But an MBA is a highly versatile program that can significantly impact several industries. Whether you want to work in human resources, marketing, finance, IT, or even open up your business—this degree will facilitate them all.
Apart from the corporate sector, the healthcare industry is becoming increasingly aware of the benefits of hiring MBAs. Therefore, you don’t have to worry about getting confined to just one sector. You can explore numerous industries and switch careers as you move along, trying to find your niche.
4. Lucrative Salaries
Companies recruit MBA graduates because they want to build teams that can create a significant impact within a short period. Since business schools train students to think critically and find efficient solutions, recruiters know their hiring decision will be the right one.
Since MBA graduates often fill management and executive positions, they’re most likely to receive high-paying salaries. According to Payscale, professionals with an MBA degree earn $90,000 on average annually. This amount is almost twice that of graduates of other programs. You can earn even more lucratively depending on your work experience, location, skills, and job outlook.
5. Build Strong Networks
Another great reason to pursue an MBA is the excellent networking opportunities you get through this program. No career can advance until you build the right connections and make a name for yourself in the industry. Classroom settings or cocurricular activities in college are a few such occasions when you can link with other like-minded individuals and form meaningful relationships. You never know if your professor or classmates may be your new business partner(s) or potential investors in your entrepreneurship goals.
Although theoretical knowledge is vital, nothing competes with the insights you can learn from experienced professionals who’ve been in the field for decades. Therefore, networking is an essential part of an MBA program. Every professional looking to make headway in their career must take full advantage of their potential.
6. Develop The Most Sought-After Skills
When making hiring decisions, recruiters don’t just seek someone with knowledge and experience but also someone who brings certain skills to the table. With so many people lining up for the same job, your resume must speak volumes and convince HR to hire you instead of all the other candidates. The best way to achieve this is by using your MBA program and developing skills employers find most valuable among team members. Some of these include:
- Communication skills
- Leadership skills
- Risk management
- Research and analysis
- Strategic thinking
- Time management
- Digital savviness
- Negotiation skills
- Versatility and flexibility
The various subjects and practical exercises of the MBA curriculum prepare its students to develop such skills throughout the degree. So, without having to take on any additional training, build on these skills so they can shine through your work.
7. Long-Term Investment
Perhaps one of the greatest reasons to pursue an MBA is the excellent return on investment you receive through it. A business school’s tuition fee tends to tip the scales on the higher side. But knowing you can quickly recover this amount from a high-paying job may be enough to pursue the degree regardless. Besides, with a good academic record, you can avail of several scholarships and financial aid programs to ease your financial burden. Additionally, most online degree programs are less costly. And since you can work on the side while attending classes, it’s easier to manage tuition and other expenses.
This investment isn’t just profitable but also has greater longevity. Once you retire, your knowledge, skills, and experience can help you open up a business or make wise financial decisions and secure your future.
Pursuing an MBA degree is the perfect choice for someone interested in advancing their career and willing to put in the work, effort, and time. These seven benefits are only the tip of what this qualification can do for you professionally. So, set aside time, define your goals, and conduct your research before making your final decision.