Today’s business industries are becoming increasingly interdisciplinary. Several sectors, organizations, and experts from various fields work together toward a common goal of getting the job done.
However, hiring multiple employees for a single project isn’t always convenient. Hence, companies now look for individuals who can multitask. And one such versatile group of professionals is those with an MBA degree under their belt.
MBA or Masters of Business Administration is a universally recognized degree and the top most sought-after qualification among job recruiters. Since it’s a diverse program, it teaches candidates theoretical knowledge of subjects like accounting, marketing, HR, finance, and leadership. It also prepares them for real-life situations by helping them develop skills to tackle complex problems with a practical approach. An MBA program is not an easy one. But despite its challenges, thousands of students apply each year to enjoy the esteem and integrity that comes with it.
The current job market is incredibly tough, so it helps if you equip yourself with all the skills and qualifications potential employers seek. An MBA can provide all that and more. But if you’re still unsure, here are the top seven reasons why doing an MBA is worth it.
1. Enhance your knowledge
MBA programs provide a breadth of knowledge on various subjects and courses throughout your degree. The education you receive here is valuable in helping you deal with work once you enter the professional world. Learning new information and skills can provide companies or organizations with never-explored innovative ideas they’re constantly seeking. While some people may choose to enroll for a specialized degree, even a general MBA qualification can do wonders for enhancing your knowledge.
Besides teaching you technical skills to navigate the corporate sector, this degree helps its candidates develop essential soft skills. From communication and leadership to analytical and creative thinking—each of these plays a vital role in helping you succeed.
2. More job opportunities
Unsurprisingly, people with higher qualifications have better chances of securing good job positions than their counterparts. Employers and companies recognize the importance of schooling and gaining crucial knowledge regarding the on-goings in the business world. Therefore, they prefer hiring candidates with the proper education and skillset to understand the industry. With an MBA on your resume, you’ll also have greater chances of working in managerial and corporate positions where you can lead teams or become a manager.
MBA graduates are one of the few professionals throughout the world who benefit from job security more than several other career paths. So, for example, if the company you’re currently employed at experiences foreclosure, you can still get a job at any other organization of your choice. More importantly, MBA graduates are usually safe during recessions when businesses have to let go of certain employees.
3. A chance to work in various industries
Perhaps the biggest drawback in picking a graduate degree or career path is that your knowledge and expertise restrict you to that particular field. Fortunately, with an MBA degree, that’s not the case at all. Contrary to popular belief, MBA graduates don’t just work in the business or finance sector but are present across all the major industries in today’s world. From healthcare and technology to media and marketing—there’s no sector you can’t get employed in.
Because of the versatility of its program, an MBA qualification allows you to switch career paths when and if you wish to. With a chance to explore various industries, it’s unlikely you’ll ever get tired of what you do, and can just shift gears to a new path if you do.
4. Test your limits
While your strengths can take you far along places on your career path, they aren’t the only motivators that can push you to go further. Most professionals prefer staying within their comfort zone and working in roles they’re already good at. However, this leaves little room for growth and makes you easily replaceable. But MBA programs are demanding and challenging. They force you to test your limits and explore territories that may frighten you. Once you find your ground, you can diversify your skills across several roles, making you much more employable for your dream job.
5. Better awareness of the global market
Another benefit of pursuing an MBA is its enriching experience and perspective on corporate sectors beyond your current boundaries. Since it’s a globally recognized and highly valued program, it focuses on teaching students business practices at the national and international levels. With this breadth of knowledge, you can better mitigate and deal with problems in any industry. Some MBA schools offer foreign exchange programs or a chance to interact with foreign colleagues to better understand business dealings in other countries. Sharing each other’s knowledge and experiences can help solve problems and make international collaborations possible.
6. Grow your network
Human-to-human interaction and socializing are critical aspects of the business world. Most corporate dealings rely heavily on how people communicate, interact, and value each other’s opinions. More importantly, you receive better job opportunities when you network with the right people and make meaningful connections with them. For example, a CEO of a corporate giant company is more likely to hire you for a job role when someone puts in a good word for you. Therefore, growing your professional network even before you step into the professional world is essential. You can also learn from the experiences of people who’ve been in the industry a lot longer and keep yourself from making the same mistakes.
MBA programs offer plenty of chances to collaborate and work with like-minded individuals, so make the most of this time and make it worthwhile.
7. Get paid lucrative salaries
When employers recognize your potential and acknowledge the expertise you bring to the table, they’re willing to pay generous salaries with extra bonuses and benefits. According to the US Bureau of Labor Statistics, the average income for MBA-related occupations is higher than most other workers. Those in management roles often get paid the highest salaries, with a median annual wage of around $102,450. This salary can be even higher depending on your experience, skills, work ethic, and network.
In addition to the fixed-wage, you can also benefit from work bonuses and other perks of management job positions. These include health insurance, holiday bonuses, paid leaves, and family perks.
Although MBA programs have existed for several decades, their demand and popularity in the job market remain at the top even today. For a chance to improve your branding and explore more career opportunities, consider pursuing this degree and find the success you want to achieve.