A Master of Business Administration, or MBA, is an advanced degree that equips graduates with the skills needed to build a successful career in a variety of business industries. According to the U.S. Department of Education, the MBA has become one of the most sought-after graduate degrees, and with good reason. There are many benefits of an MBA that can even extend beyond your professional life and into your personal one.
Confidence and Credibility
One of the key benefits of earning an MBA is an enhanced understanding of how businesses operate. You will learn how to evaluate data and calculate risks imperative for making critical business decisions. An MBA also allows you to build complimentary soft skills like communication, time management, strategic thinking, self-discipline and leadership. This can be a huge boost to your confidence and also helps establish credibility and gain respect in the business community. The degree itself carries a lot of weight and also signifies your expanded skill set.
The hard and soft skills acquired during an MBA program touch upon various industries and are easily transferable across a variety of different sectors. Although an MBA generally focuses on business and finance, it is much less specific than an advanced degree geared towards a career in a more narrowly defined field like law or medicine. This versatility prepares you for a wide array of careers throughout your life. Having an MBA also improves job security by making you more employable and more likely to be kept on staff in the event of downsizing.
Whether you want to re-energize your career in your current industry or explore a new career path, an MBA opens a whole new realm of possibilities. Distinguishing yourself with this level of education makes it easier to get promotions and advance your career. The skills gained differentiate you as a job candidate giving you a competitive edge over others vying for the same position. It can also pave the way for a career change, especially if your background is in a non-related field.
Increased Earning Potential
An MBA can also unlock the opportunity to enter into higher level positions and more lucrative industries. While an MBA does not guarantee a higher salary and pay varies greatly among disciplines, the median annual salary of an MBA graduate is more than double that of someone with a Bachelor’s degree. Curious to see how salaries in different sectors stack up? Use this interactive tool to estimate how much money you can expect to make after earning your MBA.
Strong Professional Network
The networking opportunities and professional relationships formed within an MBA program can prove invaluable. You will connect with faculty, fellow students, alumni, professionals at the top of their field and other influential people. These interactions help build your network of colleagues which can translate into promising opportunities in the future that help move your career forward. In fact, the GMAC Alumni Perspectives Survey found that 75 percent agree going to b-school developed their professional network and 95 percent of alumni would recruit a student for a job from their alma mater.
An MBA is a great gateway to a career. Ready to take the next step? Register for a Virtual MBA Tour event to connect with the world’s leading business schools and find the best match for you.