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How will an MBA Help my Career?
MBAs are a popular degree for continuing education students, and it's not hard to figure out why. They're often accompanied by an increase in pay and prestige, along with a better career in general. Although they are often expensive and time consuming, many people find that MBAs are well worth the effort, specifically citing more career opportunities, a higher salary, better networking, and increased skills. Here, we'll take a look at a few of the ways earning an MBA can have a positive effect on your career.
- Hiring opportunities. As a general rule, more education means more career opportunities, and this rule holds especially true for MBAs. In the 2007 Corporate Recruiters Survey hiring companies indicated that they had a definite plan to increase their hiring of MBA holders and scale back on candidates that only have an undergraduate degree. Additionally, MBAs are rising in popularity, so you may find that you need an MBA just to get in the door with some organizations.
- Better pay. With an MBA, you will command a higher salary, both due to your higher skill level and your increased demand. Another interesting fact from the 2007 Corporate Recruiters Survey is that employers are willing to pay up to 84% more for candidates with an MBA. This quite obviously shows that MBA degrees are well worth the money and time spent on earning them, as higher pay of this magnitude is likely to make your MBA degree quickly pay for itself.
- More networking opportunities. Earning an MBA means you'll be studying with lots of other up and coming professionals in the business world. Being a part of the MBA classroom will help you forge relationships with other students that can turn into useful networking contacts. Additionally, being an MBA student or graduate will often grant you access to groups and opportunities that wouldn't be available to you otherwise.
- Better skills. Going back to school for any reason will improve your skills, especially when pursuing an MBA. Continuing education will keep your mind fresh, particularly with critical thinking skills and concentration. These benefits exist both while you're in school and after you've received your degree. But beyond brain power, MBA programs are specifically designed to improve upon your business skills and ability to master the business environment. With an MBA, you'll have much of the knowledge, skills, and tools that you need to really succeed in the world of business. Additionally, the skills you'll learn as an MBA can translate to a better quality of personal life, giving you the knowledge to make better decisions in life and financial affairs.
- Career growth If you're feeling stagnant in your career, and getting an MBA is an excellent way to take yourself to the next level. For many people, an MBA will open up opportunities that were not available before, whether it's a career that makes more sense for your life and skills, or a promotion to a better position within your organization. Getting an MBA shows that you're serious about your potential for success, and others are likely to view you in a higher regard because of it.
Despite all of these advantages, an MBA is not for everyone. Not every organization places high value on an MBA. A good way to determine if MBAs are important to companies you're interested in working for is to look at the current executives and find out if they have an MBA. It's also important to note that an MBA is not a silver bullet. Earning an MBA degree will not automatically grant you a management or executive position-you must have essential skills and experience as well. Additionally, many top executives have earned their positions without ever taking a course toward an MBA.
Still, there's no denying that for many, earning an MBA will grant you access to a better career and a higher quality of life. To really make an MBA work for you, be sure to attend a school that is noted for its prestige, and pay attention to developing your experience level. With these factors in place, you're likely to make your MBA work harder to get you farther.