How to Boost Your Career with an MBA Degree
If you are exploring the possibility of obtaining an MBA degree, you should start by thinking about whether it will help you improve your career.
Going back to studying is a big decision, even in industries where having an MBA is a norm or even when you know that an MBA will provide important advantages.
But what if you’re working in an industry where MBAs aren’t a norm? For instance, if you’re a creative director or a project manager? Or maybe you’ve taken a break to raise your kids and now you’re planning to start working again. Or you’re planning to start your own business. What advantages do MBAs offer in these cases?
It Helps You Grow Personally
Enrolling in an MBA program will allow you to sharpen your skills and expand your knowledge, but also to identify your weaknesses and find a way to overcome them. This, in turn, will make it easier for you to achieve the goals you’ve set, whether it’s getting a promotion, getting a new job position, or a higher salary.
The best online MBA programs allow you to tailor your coursework and choose subjects that personally interest you or subjects that will be most useful to you in the job market. Another advantage is being able to simultaneously work while attending online classes whenever you choose to. This is one of the greatest selling points when it comes to choosing online programs instead of traditional ones.
Top MBA schools offer programs that cover many areas, ranging from economics, entrepreneurship, and accounting to marketing, international and strategic management, and languages. So, for instance, if you’re planning to join the entrepreneurship bandwagon, you can take optional business management classes.
It Will Boosts Your Self-Confidence
In addition, an online MBA program will boost your self-confidence, especially when it comes to interactions that require the use of technology like Google hangout meetings, Skype interviews, webinars, and online conferences.
You are going to get confident when presenting your ideas and presenting yourself, both professionally and personally. These skills are essential for careers that involve working with people and will help you in various situations such as networking with potential clients and public speaking.
It Can Help You Earn More Money
Acquiring an MBA will most likely mean earning more money. According to a report by Financial Times, the average salary for an MBA graduate in 2018 was around $145k, which is 12% up since 2014. This is related to the fact that having an MBA also means having greater responsibilities and opens up opportunities to take on leadership roles.
It Will Be Useful If You Want to Start Your Own Company
While it is true that an MBA won’t make you an entrepreneur, entrepreneurship is something that can actually be taught. Enrolling in an MBA program can help you learn some basic skills needed to run a business, generate revenue, manage people, and establish partnerships. In addition, it can help you avoid legal and financial problems.
People who have gone through business school consider it a smart investment because, in many cases, acquiring an MBA degree will prove to be cheaper than learning things the hard way (say, through a failed startup).
It Can Help You Start a New Job
If you’re looking for a career change (a new job function or breaking into a new industry), a business school is a great option because it can expose you to career opportunities you didn’t even know were open to you. In fact, more than half of incoming students at top tier business schools say that they are interested in career switching.
70% of MBA graduates from the classes of 2016 and 2017 said they couldn’t have obtained their current job without the knowledge, abilities, and skills obtained through their MBA education.
Switching careers requires lots of work, but taking 2 years to sharpen your professional skills and focus on what you really want to do in the long run is certainly a unique opportunity. If you make smart choices, find a way to align your past experience with your new interests, and you don’t mind putting in the effort, then pursuing a career switch is definitely possible.
It Allows You to Stay Flexible
The business world changes quickly and experts predict that this trend isn’t going to stop any time soon. This means that those who have the ability to adapt to the changing marketplace can expect long-term career success. MBA degrees are greatly valued across different disciplines and industries, so having one may help you adapt more easily to changing circumstances in the economy.
It Helps You Become a Part of a Loyal Professional Network
Being a part of a business school network can be a great resource when you explore job opportunities. The majority of business school alumni (95%) are willing to hire recent MBA graduates because they are aware of the value of the education they received.
In addition, more than 80% of business school alumni from the classes of 2016 and 2017 agreed that their MBA education helped them develop a professional network, thus confirming the emphasis business schools have placed on network development in recent years.
Final Thoughts
An MBA degree will open new opportunities for career growth and definitely pay off in the long run. In a survey conducted by the Graduate Management Admission Council in 2016, 95% of MBA graduates said their degree had excellent or outstanding value. A large portion of the polled people described their education as rewarding financially (75%), professionally (nearly 90%) and personally (more than 90%).
