Is an MBA still worthwhile in a world where skillsets matter more than a degree?

 

In this article, we will discuss the 5 benefits of an MBA so you can make a better decision for your career.

 

- What is an MBA?

 

An MBA (Master of Business Administration) is a graduate degree that emphasizes leadership development and business fundamentals. It also has numerous professional and personal advantages.

 

According to statista.com, In early 2020, around 92 percent of companies in this Survey said that they intended to hire MBA graduates in the next year.

 

In online recruitment websites, the word "MBA desirable" appears frequently. But what exactly does it imply?

 

MBA graduates are valued for their critical thinking skills, ability to deal with uncertainty, and ability to handle complicated businesses challenges.

We can easily consider MBA as is a style of thinking, not just a set of financial abilities and business knowledge.

 

- 5 Benefits of MBA

 

Let’s take a look at 6 of the most important career benefits of an MBA degree.

 
1- More jobs opportunities

 

When you get your MBA, the number of job opportunities available to you goes way up. With that in mind, obtaining an MBA will enable you to seek higher-level employment and broaden your professional options.

 

According to research by the Graduate Management Admission Council, a global association of leading graduate business schools, today released its annual 2021 Corporate Recruiters Survey, it shows that corporate recruiters anticipate strong demand for business school graduates in the next five years, with nine out of 10 expecting it to expand or remain stable.

2- Better income

 

MBA graduates’ base incomes are still much greater than those without an MBA.

 

MBA graduates are earning 77% more than those with a bachelor’s degree ($65,000) and 53% more than those hired directly from industry ($75,000) at this rate.
Even more impressive, in the five years after earning their MBA, the average pay increased by 80%.

 

However, keep in mind that the impact your MBA has on your salary depends on a number of factors, including your university, work field, job position, and your past experience.

Related articles: 14 of the Highest-Paid MBA Majors

 

3- Expand your professional network

 

One of the most significant things about obtaining an MBA degree is a solid professional network. According to the (GMAC), 89% of recent MBA graduates reported that business school helped them build a solid professional network.

This type of connection can help you find new career opportunities and may be very useful if you are willing to start your own business.

 

4- Critical thinking

 

Obtaining an MBA may help you face business challenges with open eyes.

It assists you in comprehending the complexities of operating in a worldwide market.

 

For instance, Peter Johnson, Assistant Dean of UC Berkeley's Haas School of Business stated that there are core skills that represent the signature business schools are imbuing in graduates from their MBA programs like having strong strategic, interpersonal, communication, and decision-making skills, as well as an understanding of the importance of diversity and inclusion and sustainability in their organization.

 

5- First step in your own business journey

 

Lastly, one of the most important benefits of an MBA is that it equips you with the information and abilities you'll need to eventually create and run your own company.

It teaches you how to run a market, plan accordingly, and establish a business's finances. These abilities are essential for any entrepreneur who is starting out on their own.

 

Mini-MBA Program

 

However, if you already have your own business or you are holding a senior position in your career, an MBA program, which usually takes one to two years might not be the right fit for your time.

 

Therefore, you might consider the Mini-MBA Program. While a "Mini- MBA" cannot equal the richness of an MBA, however, it provides you with a dynamic approach that quickly strengthens your productivity, confidence, and decision-making abilities.

 

One of the best in the field is the Chicago Institute of Business Online Mini- MBA program which is a comprehensive business leadership and management development program that provides business skills, coaching, and leadership training to help you advance your career. 

 

No time to waste, learn more about this program and request more information HERE. 

Remember to keep these 5 MBA benefits in mind as you weigh your decision and take the next critical step down your career path!