You have your bachelor's degree, but now what? Do you go find a job or continue your education? Getting your MBA is a great way to increase your earnings and job status. Sure, more pay is nice, but getting an MBA is much more than just a pay bump. Getting your MBA is a huge decision. Below is some information on the benefits you can expect that may help you make a decision on whether or not to go for an MBA.
What is it?
An MBA, or Master of Business Administration, is a graduate degree that deals with the management of different aspects of business entities. Typically, an MBA is specialized. Some of these specializations may include Marketing, Entrepreneurship, and Accounting.
Why should I get it?
The benefits of an MBA are unlimited. It is however, important to carefully decide if it’s the best choice for you. A graduate program is a huge commitment. If you have the time and money, an MBA is a great degree that can set you up quite well for the future.
There are tons of benefits to getting an MBA. Of course, you are likely to see a substantial professional advantage over those with only a bachelor's degree. This is not to imply that those without an MBA are disadvantaged, as career progression often depends largely on one’s commitment and the available opportunities. You are also much more likely to have a higher income than those without an MBA. There are other benefits as well:
Becoming a better communicator – In addition to gaining a broad understanding of business in general, your communication skills will improve. In business, this is a crucial skill that can make or break a career. Everything from writing papers; giving speeches and presentations; and executing group projects can help enhance your communication skills. This skill will also come in handy when you are negotiating a salary or business deals with your clients.
Meeting others who share your passion, both young and old – One of the most important skills in today's business world is networking. Networking is key to success, and who better to build relationships with than the peers you are getting your MBA with. They are also future leaders, so getting solid relationships started in school could make a huge difference on the long run. You will be surrounded by many great business minds; minds you could someday work with.
Learning to work as part of a team – Whether you decide to start your own business or work alone, you will not be working on your own all the time; you may find yourself working as part of a team. Businesses almost always operate in group settings. Learning to work with a team is a valuable life lesson in today’s workplace.
Learning more about yourself – As a working professional, you won’t have much time for self-reflection. Getting your MBA will certainly be time consuming, but you will find yourself learning more about yourself every single day. Schooling presents a unique challenge that often results in learning about yourself, which can be very helpful later in life when work is hectic and you don’t have as much time for yourself.
Compensating for limited experience – This is specifically for the younger potential MBA candidates. Lots of people climb the ladder in their 20’s, only to hit a ceiling much earlier than desired. Companies typically value experience and when given the choice between two candidates, they will choose the older and more experienced one. If your company is hesitant to move you up without years of experience, an MBA is a great way to convince them otherwise. Experience is important, but adding an MBA to your resume is an alternative way to prove your worth to any company.
Gaining exposure to leaders - Business leaders will be common visitors during your MBA program. They will scout for potential future employees, give guest lectures, and become teachers and mentors along the way. Simply speaking with these experienced leaders will give you knowledge you can take with you and apply for many years to come. You will typically have the opportunity to discuss with business leaders and ask them questions. This is a great opportunity that comes with getting an MBA degree. In addition to the leaders in your field, leaders in the classroom are important as well. You can learn from your professors and contact them should you need references in the future.
MBA: The Big Picture
As a leader, you need a lot of positive qualities to succeed. Elite planning, strategy, and communication are key to becoming a great leader. During your MBA, you will have time to reflect on where your career is headed and what you are going to want to do once the degree is over. Some of the best ideas have surfaced during times of self-reflection. You will not only be learning about business, but you will also be learning about yourself.
Wherever you decide to get your MBA, use the time to learn all you can, meet the people you can and start networking so you will be set for years to come. Getting an MBA isn’t for everyone, but if you are looking for not only a leg up on salary, but a leg up on experience, an MBA is a great option for you. Most universities offer MBA programs - See offering from Southern Cross University.
Do you have an MBA degree? What difference has it made to your career?