Pursuing a higher education degree such as Master of Business Administration (MBA), can be challenging, expensive, and time consuming. So, Is an MBA worth it? (1)
Well, the answer is Yes if you plan to work in a business-related field, management, or as an entrepreneur. The benefits of acquiring an MBA include: (1)
●A Salary boost
According to MBA.com, professionals with an MBA degree can earn up to $115,000 as a starting salary, compared to those with an undergraduate degree who earn a starting salary of around $65,000. However, the salary of MBA professionals depends on many factors, such as the school they graduated from, their position and their experience. (1)
●An accelerated career path
Graduates of top MBA programs are often expected to have the academic, interpersonal and professional skills to solve complex business problems and make tough decisions. As a result, they are placed in positions that accelerate their career progression to senior management. (2)
●A diversified network
Business school can help you diversify and broaden your connections. It allows you to be part of a community of future leaders. (2)
Additionally, most MBA programs offer their students the opportunity to expand their reach through networking events hosted by clubs and employers, increasing their chances of success in the business world. (2)
●Increased startup opportunities
Investing in yourself and getting an MBA can help you start your own business. Learning essential skills, such as problem solving, will definitely come in handy when facing entrepreneurship challenges. (3)
Furthermore, the extensive relationships you build during your MBA, including professors, classmates and alumni, can be a great source of advice when inaugurating your own business. (3)
●Diversified perspectives
An MBA broadens your perspective by exposing you to colleagues from around the world who will challenge your preconceptions. (3)
Additionally, coming from different industries, these peers will expand your knowledge and deepen your understanding of business. (3)
In conclusion, an MBA is a major investment, both in terms of time and money. Therefore, its value depends on your personal preferences, aspirations, and passions. (3)
References:
(1) Is an MBA Worth It? (investopedia.com)
