An MBA program shows that you are committed to improving and applying your skills in order to help companies succeed. MBA-holders also feel more confident about their marketability and have access to more information. These are only a few benefits of obtaining an MBA.
1. Greater Awareness of a Global Market
An MBA allows you to connect with students around the globe who have different perspectives and work experiences. MBA students have the opportunity to learn from other professionals in the U.S. as well as expand their knowledge about other industries.
2. Improving Your Communication Skills
Professionals must be able to communicate well. Although communication is not considered a “hard skill”, it is just as important. An MBA can help you develop your verbal and writing communication skills. This will allow you to communicate concepts effectively to people at all levels of the organization and ensure that everyone can work together towards a common goal.
3. Expand Your Professional Network
An MBA allows you to be part of a worldwide network of almost 100,000 alumni. This gives you the opportunity to meet respected and intelligent professionals that you might not otherwise have had the chance to. You’ll be able to establish relationships with professionals both in the classroom as well as outside the classroom.
Read more about the Executive MBA for entrepreneur and working professional by IIT Bombay and Washington University in St. Louis.
4. Increased Job Opportunities
An advanced degree is a great advantage in a competitive job market. An MBA can make you an asset in every industry, from energy to consumer products to startups. Employers are more likely to promote or hire a candidate with an MBA than others because of their marketing and finance skills. They can launch new initiatives quickly and increase their company’s profits.
5. Effective Time Management
An MBA requires you to manage extracurriculars and a demanding course load. An MBA will help you manage your time efficiently, which is a valuable skill for all aspects of life.
6. Differentiation in a job candidate
Although an MBA degree is not a requirement, it can make a significant difference in your application against other candidates for the same job. This is especially true if they are all highly qualified. Employers may be impressed by your managerial achievements in the field but the fact that you have an MBA will likely boost your application to potential employers.
7. Re-energize your Career
Sometimes it is easy to get stuck in a rut, career-wise. An MBA degree can help you get out of a rut, revitalize your career, or even open up new opportunities. This experience can be the catalyst you need to launch a new career, regardless of whether you are looking to increase your salary and job opportunities or venture into the world of entrepreneurship.
8. Higher Income
Although the financial benefits are often why people enroll in MBA programs, higher income and signing bonuses are certainly some of the most important benefits to earning your MBA.
9. Improved Financial Management
Many MBA applicants are drawn to their financial acumen, which they can use to manage their personal finances and invest in other business ventures. Students learn how to assess risk and understand inflation and interest rates, as well as how to respond to market changes and fluctuations.
Questions you might have about an MBA
You may have many questions about an MBA and the process. These are the top questions that students ask when they consider an MBA.
WHAT CAN A MBA DO FOR YOUR CAREER?
An MBA will increase your professional marketability and provide more job opportunities. MBA graduates receive full-time job offers from over 98%. An MBA helps you develop business leadership skills and a professional network. MBA alumni are part of a large alumni network, with over 99,000 members in 153 countries.
What does an MBA teach you?
An MBA degree will give professionals the ability to learn fundamental business skills such as leadership, communication and critical thinking. MBA balances a core curriculum that focuses on ethics, accounting, finance, marketing, and macro/microeconomics with electives that help build leadership skills, including networking, student conferences, and advanced student projects.
WHAT CAN YOU GET AN MBA IN?
An MBA is more than just a degree. There are 19 MBA majors, including Entrepreneurship, Finance, & Innovation, Organizational Effectiveness and Health Care Management. Students who do not fit neatly into any of the 19 existing majors have the option to create a customized MBA major that is tailored to a multidisciplinary path.
WHAT IS THE COST OF A MBA?
While the cost of an MBA program is variable, it is estimated that $224,948 will cover the total cost. The cost of a two-year MBA program can vary depending on whether you choose to stay on campus or rent a room and board. Additional benefits may be available to offset tuition costs for veterans and active military personnel.
WHEN SHOULD YOU GET YOUR MBA?
There’s no one right time or wrong time to earn your MBA. It is up to you. MBA students must have at least five years of experience in the workplace before they can commit to an MBA program. The MBA application process is available three times throughout the year.