Business degrees are among the most sought-after in the world. According to the Bureau of Labor Statistics, the field of business has some of the highest-paying professions, such as Finance Specialist, Human Resources Manager, Management consultant, etc.
This explains the increased popularity of master’s degrees in business awarded in recent years – like an MBA.
So if you want to level up in your career or are interested in business fundamentals, look no further than a Master’s in Business Administration (MBA).
An MBA degree is one of the most respected degrees in the corporate world due to the way it polishes its students.
MBA graduates specialize in their fields, are pros at managing business tasks, and have a great professional network. At the same time, MBA grads are known to have six-figure salaries!
Keen to learn more? Read on to find five convincing reasons why you, too, should register for an MBA right now.
1. Specialization
If you work in the business industry and focus on a specific business function, an MBA focused on that field would be perfect. The program will give you a concise introduction to all the business operations before allowing you to specialize in one that appeals to you the most.
There are a variety of specializations, such as Marketing, Entrepreneurship, Human Resources, Finance, etc., that you can choose from and refine your management skills in the area of your choice.
Studying for an MBA degree is now easier than ever. You can register for a regular degree that requires you to attend a physical university or an online degree that doesn’t. As a working individual, we suggest enrolling for an online MBA degree that offers you all the benefits of a regular degree but with the added convenience of studying at your own pace. You won’t have to commute or be present at the institution.
This facility makes studying for an MBA degree more attractive and accessible for those not in the same city.
2. Allows for a career switch
An MBA facilitates business majors and new entrants into the field. The MBA program will introduce you to all the key business functions. At the same time, the degree will build and refine the skills you need to prosper in the specialized field of your choice.
The program involves engaging in class discussions with teachers who are also industry experts, collaborating with classmates on group work and term projects, and developing innovative business solutions using case studies, among many others.
Your knowledge from your previous field and the new skills you learn at business school help to broaden your perspective. As a result, you are likely to develop innovative ideas and solutions at work –skills employers revere.
3. Expands your professional opportunities
An MBA equips you to think creatively, work collaboratively, and perform well under pressure. These are some of the skills organizations seek in their managers and leaders. As a result, graduating with an MBA degree adds leadership to your credentials, enabling you to get a promotion to management positions and a pay raise.
In fact, according to a Bloomberg Businessweek survey by Princeton Review, MBA graduates saw an 80% increase in their salaries upon graduation.
Not only that, but the degree will also allow you to work on more challenging projects and a diverse range of clients. This will enrich your job and add to your professional career growth.
4. Builds your professional network
As an MBA student, your peers have likely been in the corporate world for a while. Moreover, your teachers are likely to hold top-level management positions as well.
A study conducted by MBACentral found that MBA grads are likely to work at well-established companies or have their own ventures. In other words, pursuing an MBA will expose you to many well-rounded individuals, and you will have an incredible opportunity to build a solid personal and professional network with them.
5. Allows you to succeed as an entrepreneur
An MBA teaches you the cores of business activity, equips you with the hard and soft skills required at workplaces, and expands your network – in other words; it prepares you to start your startup from scratch.
According to a Financial Times survey, 22% of MBA students launched their startups, and 84% were still functional three years later.
There are various reasons entrepreneurs with an MBA degree are more successful. Not only are they great managers, but they are also very likely to find some of their peers who might want to start their businesses too. As a result, it is easy to find a reliable partner who would hold you accountable and motivate you to improve the business’ performance.
Furthermore, your teachers have likely mentored many entrepreneurs in the past and may have entrepreneurial experience themselves. They are happy to provide their students with all the dos and don’ts of establishing and running a successful business.
Moreover, the degree constantly pushes you to think outside the box and look for innovative solutions. Consequently, you will likely be able to spot a problem – as you have learned to be susceptible to market changes and consumer needs and want to offer a solution. Lo and behold! A business idea is born.
The most important step to make a business successful is to launch it on the right footing, and MBA graduates can do that effortlessly.
Conclusion
All in all, an MBA is the best degree to opt for if you want to advance in your career. However, there are certain things you should consider before enrolling. Although there are immense long-term benefits to pursuing an MBA, the degree itself can be costly.
Secondly, an MBA requires commitment. Your learning won’t stop once you step outside your classroom; you must apply your knowledge to the real world to fully understand the concepts.
Plus, the duration of your MBA may vary depending on how you have designed your program. It could take anywhere from two to five years to complete. Therefore, before committing, ensure you know what you want to achieve with your MBA to keep yourself motivated throughout the program.
With hard work and consistency, you will live your corporate dreams very soon.