Master of Business Administration (MBA) is a graduate degree specifically designed to train individuals in building leadership skills that are highly valued in the corporate world. From a strong professional network to multiple job opportunities and higher compensation packages, the number of benefits you can derive from an MBA degree is innumerable.
Researchers indicate that as much as 92% of companies worldwide prefer to hire candidates with an MBA degree. That being said, an MBA program requires a lot of time, effort, as well as money. Therefore, it is of utmost importance for candidates to consider whether the degree is worth all these efforts. The best way to figure out whether you are an ideal candidate for an MBA is by first determining what are your goals in life and how MBA is going to help.
To help you with the same, listed below are various ways MBA will help you achieve all your professional goals and aspirations.
So, without further ado, let’s get started!
How Will MBA Help Achieve Goals
The following list highlights many ways an MBA degree has fruitful results for candidates who wish to advance in the dynamic world of management.
Better Business Understanding
Earning an MBA degree helps aspirants develop their business acumen by training them in some of the most critical aspects of business, such as Data Science, Finance, Marketing, and more. Furthermore, students also explore experimental learning methodologies that deal with real-time projects of actively running companies. They become capable of dealing with problems that might arise within business operations and developing effective solutions.
Gain Management Skills
Managerial and leadership skills are two of the most important qualities employers look for in every candidate. An MBA degree provides aspirants with all the necessary training required to develop these skills so that they can land high-paying jobs. In fact, surveys indicate that the average salary of an MBA graduate is $45,000 – $100,000. These help aspirants progress further in their careers to management positions, which ultimately leads to greater job satisfaction and better financial security.
Benefit From Networking
Whether business management or any other industry like retail, finance or education, networking plays a very crucial role in developing one’s career. In this age of digitization, it is true that various new platforms, such as LinkedIn, have made this process much easier, but nothing can beat the experience of making connections at universities or colleges.
Pursuing an MBA degree lets you connect not only with your peers or batchmates but also establishes a common ground with business experts and teachers who guide you through the journey. An MBA program is not limited to only one country, so students from different backgrounds and cultures are welcome. You can use this as an opportunity to form different perspectives about these new cultures and interact with like-minded global learners.
Setting Up Businesses/Entrepreneurship
MBA programs also help students develop entrepreneurial skills essential for setting up successful businesses, especially in today’s economies. From business management to financial planning, various topics are covered under these programs. Most reputed business schools/institutes have great links with local, national, and even international business corporations, which you can use to your advantage to manage your own businesses effectively someday while simultaneously contributing to the country’s economic development.
Aspirants gain real-life experiences and learn some of the most common mistakes that should be avoided in business. A few of the many business skills taught in an MBA program include negotiation, pitching business ideas, forecasting business accounts, and planning marketing campaigns. So if you are one of these aspirants who wish to own a business one day, earning an MBA degree will definitely prove to be a fruitful decision.
Specializing In A Chosen Subject
Yet another significant benefit of an MBA degree is that students get to specialize in topics of their choice. It can be MBA in Finance, MBA in Marketing, or even MBA in International Business. The options are endless. In today’s age of extensive competition, recruiters are always looking for candidates with expertise in a specific domain instead of general knowledge of different fields.
Some of the MBA specializations that are considered to be highly valuable in the current market include,
MBA In Finance
Some of the most common topics included in this course include,
- Financial Reporting
- Portfolio Management
- Hedge Fund Management
- Strategic Cost management
MBA In Business Analytics
A proper MBA course in Business Analytics covers the following topics
- Business Forecasting
- Supply Chain Analytics
- Multivariate Data Analysis
- Artificial Intelligence
MBA In Marketing
Some of the most common topics included in this course include
- Managerial Economics
- Management Concepts
- Consumer Behavior
- Marketing Management
Apart from these 3, various other specializations are equally valuable, such as MBA in Logistics, Adaptive Leadership, Business Analytics, Management, Healthcare, and HRM. Institutes like Golden Gate University offer specializations in all such in-demand concentrations!
Ideal For A Career Change
Earning an MBA degree is the perfect way to gain expertise in a different industry. The years spent on the degree help candidates receive the optimum level of exposure and enables them to take a different career path and obtain growth with substantial experience.
Financial and the consulting industry are two of the most popular fields pursued by MBA graduates. It opens doors to new career opportunities that otherwise would not have been possible for students with different educational backgrounds. This is also one of the main reasons why MBA graduates can land high-paying jobs since they get this chance to try out their luck in other industries that come with their own sets of lucrative benefits and compensation packages.
Some of the best job roles that MBA graduates are uniquely qualified for include,
- Financial Advisor
- Information Technology Manager
- Business Consultant
- HR Manager
- Management Analyst
- Investment Banker
Personal Development
Last but not least, another significant advantage of earning an MBA degree is that it helps aspirants develop the right attitude for professional success by enabling them to have a whole new perspective on life. It is not an overstatement to say that an MBA degree alters an individual’s life and helps them become a better person in terms of personal and professional development. Some key development skills that MBA graduates get to acquire after completing their degrees include effective decision-making skills, business acumen, communication skills, leadership and management skills, and the ability to deal with difficult situations effectively.
Conclusion
With this, we end our exploration of the various roles an MBA plays in an aspirant’s life. The most important thing before pursuing an MBA degree is determining if it suits you. The best way to do so is to establish what are your goals in life and how is MBA going to achieve it. Once you have chalked it out properly, you can go on to choose an institute of your preference and select a specialization that is in sync with your aspirations.
If you hope to pursue an MBA with in-demand specializations, disciplines such as IT management, healthcare management, and investment banking can be a good idea.
On that note, we present the Masters of Business Administration program, brought to you by the very popular Golden Gate University! This 15-month program is specifically designed for working professionals and allows candidates to choose a specialization from five prominent concentrations: Finance, Marketing, Adaptive Leadership, General, and Business Analytics.
So, what are you waiting for?
Enroll now and take the leap toward a successful career!
FAQs
Q1: Is an MBA necessary for a successful career?
An MBA degree is considered to be highly valuable by recruiters or employers, especially in today’s competitive market. It highlights all the important skills and knowledge required to qualify for an upper management position in the corporate world. It opens your doors to diverse opportunities that will take your career up several notches. You can pursue an MBA right after completing your Bachelor’s degree or a full-time job.
Q2: Does MBA has any value?
Researchers indicate that the average salary of an MBA graduate is 22-40% higher than candidates with a Bachelor’s degree. Furthermore, MBA holders are usually favored more than other candidates in most job interviews. Therefore, it is safe to say that the value of an MBA degree has increased manifold over the recent years, as the bar of standard keeps getting higher and higher.
Q3: Are there any benefits of an MBA?
Yes, the number of advantages one can avail of with an MBA degree is endless. From landing higher management positions to developing excellent communication skills and leadership qualities, an MBA degree prepares an individual to face any challenge in the business world. It widens the networking horizon and trains aspirants in all the successful ways of handling day-to-day business operations.
Sources: https://www.chitkara.edu.in/blogs/10-ways-mba-helps-in-achieving-your-career-goals/
https://yocket.com/blog/salary-for-mba-in-usahttps://online.hbs.edu/blog/post/roi-of-an-mba#:~:text=According%20to%20GMAC’s%20Corporate%20Recruiters,earn%20more%20at%20their%20companies.
