There are so many career options to choose from today. Choosing the right programme for postgraduate education can be stressful at times. However, if a student wishes to go into business it would be ideal if they chose a programme providing them with skills, ethics and knowledge to integrate themselves in the business world. An MBA would be ideal from that perspective. MBAs are quite expensive but the rewards greatly outweigh the cons. Below we give dome answers to the question, Why Should You Do an MBA?
The Potential Salary is High
Research has shown that there is a vast difference in salaries between someone who has an MBA and someone who has other degrees. On average, the graduate with an MBA typically has a higher compensation rate. Salaries can be between £70,000 and £120,000 annually for a graduate with an MBA working in the public or private sector. This is double the total amount that is paid to graduates who do not have an MBA. Some of the most significant benefits of earning your MBA are a higher income and signing bonuses. It is not a forgone conclusion that you will automatically walk into a highly paid job just because you have an MBA. You will need to work hard and apply the knowledge you gained from your degree.
Your Boss is Yourself
Many people who obtain MBAs tend to become entrepreneurs at young ages. When someone enrols in a program for MBAs it is possible for them to gain the practices and knowledge that is required to hopefully build up and run their own business. They will learn how to manage a business, financial handling and planning if they do an MBA programme. Skills such as these will place them in perfect positions for managing an effective business while simultaneously helping the economic development of their country.
Career Chances are Better
Graduates of MBA programs cover a greater field of learning. Human Resources, Technology and Statistics are just three of the many core subjects covered in an MBA programme. These subjects all qualify an MBA graduate to move towards their career goal in various areas and sectors of business. You can also learn leadership and entrepreneurial skills as well as the ability to apply scientific theory to your daily practices. Many core subjects mean that graduates will be given better and more opportunities to develop and extend their minds.
It also makes it easier to change careers as it is testament to your expertise and your abilities to run a business. Studying an MBA online or distance learning MBA would be ideal for this as it can give you time to work out if you can make that transition while still earning.
Great for Networking
You can encounter a variety of people, such as businessmen, recruiters and even entrepreneurs. It is a long list. Those in MBA programmes most likely become interns. MBA programmes can pave the way for you to connect with future executives and future business managers. That is all when the course is finished though and you can be provided with recommendations on your behalf for internships. Internships also gives MBA students an opportunity to meet potential employers. Who knows who you meet could benefit you in the future.
MBA courses are also respected globally, which means you have a chance to work abroad for a business with this degree. MBA graduates are usually international students giving you further opportunity to meet students from different and diverse backgrounds as well as new ways of thinking in business.
There are so many different strands to MBA courses, you have plenty of options to choose from:
- General MBA: This is an ideal course for anyone with 3 years of business experience behind them or if you are keen on fast tracking your career and getting jobs like a management role in the finance industry or corporate strategy
- Executive (EMBA): This is usually studied on a part-time basis. This is appropriate to those already in a corporate management position and have ambitions about getting into the boardroom
- Specialist MBA: If you have experience of working in management and have ambitions of promotion then this type of MBA is ideal.
- Distance Learning MBA: This is suitable for students who cannot attend university full-time and if you need to manage your studies around personal or professional commitments
- MBA without Work Experience: If you have recently graduated or are changing your career and want to take your first steps into a career in management but do not have work experience, then this type of MBA is ideal.
People who would rather work for themselves than being employed by an organization can find that obtaining an MBA gives them credibility. Those who do business with other people seem more likely to know what they are doing than those who do not. You are more likely to gain the trust of the person you are doing business with. An MBA ultimately shows you are more of an expert in what you do than others. When potential partners see an MBA as one of your accomplishments, it shows you are competent and dedicated in your field too. In addition to all of that, it shows you are a master in particular sectors such as business consultation, finance, management, etc.
After an MBA has been completed, graduates are finally certified in at least a major management role or known areas in any organization. This is one of those degrees that is very highly recognizable to most people in the world in business. It can be used to chase other career sectors since an MBA is highly compatible with other programs for degrees. These degree subjects include Business Management, Financial Management, Human Resource Management, Customer, Relationship Management.
You have more knowledge in your field
Many graduates of an MBA program found having this degree has educated them in certain aspects of life, especially the business world operations. Those who do not have an MBA will always ponder why and how a specific business choice is decided in an organization but a graduate with an MBA will be able to understand this as they have learned the reason before. Graduates develop an in-depth view of the business world with an MBA.
Most professionals pursue this qualification in order to learn leadership skills as they are mostly keen in starting their own business or earning a promotion. To pursue either one of these, leadership skills are essential. They need to know how to handle the business-making aspects of running a business as well as motivating and encouraging teams working for a business.
Advances Communication Skills
MBA graduates are taught to speak clearly and distinctly. With this, you are taught how to add meaning to words, develop effective and exceptional presentations, the art of language and how to connect with others both in and out of a classroom setting. Having these communications skills are invaluable in the business world.
When having an MBA you almost become a new person after the degree is complete. With having a new outlook on the business world and life that were taught in an MBA programme, the graduate develops professionalism and survival skills making them competent communicators and advisers. Without a doubt, studying to receive an MBA will change how you see life and adjust your mind for the better when you are in the business world.
It will give you an advantage while at the same time offering you both value and prestige. This can be beneficial when you are trying to create a new name for yourself or if you are trying to establish your own business.
If you are in employment already and wish to obtain an MBA, you may want to discuss it with your boss explaining how your reasons for wanting to gain this degree align with the potential of the business. This will encourage trust and will help you gain support from your employer for your choices. This may give you breathing room for decision making purposes and taking initiative.