Why People Still Want An MBA Degree – Doubting the merits of obtaining an MBA degree has recently become a fashion, especially one from a two-year program that costs well into the six digits. Still, there is no shortage of applicants at any of the highly selective schools that routinely reject the vast majority of candidates who apply for them.
If you expect greed and power to be the main reason for doing an MBA, you will be wrong. While there are many people who see degrees as a way to make more money and achieve greater status, it is hardly what motivates most candidates who are on the journey to enter a world-class MBA program. make investments.
Should You Get an MBA?
For many professionals, getting an MBA seems like the next logical step to advance their careers. The benefits of an MBA apply regardless of your industry or area of professional focus. However, some may wonder whether it is worth pursuing an MBA, given the commitment and expense involved. For those who plan to work in a managerial ability with financial establishments, or who have entrepreneurial goals, an MBA can help strengthen the leadership skills needed to achieve in these areas.
The benefits of graduating with a distance MBA, in particular, are numerous. More than 98% of distance MBA graduates are offered jobs and approximately 94% accept job offers upon graduation. In addition to a wide range of job opportunities and increased earning potential, the distance MBA can help you connect with a diverse group of professionals and become part of an extensive global alumni network.
Benefits of MBA
Completing an MBA program shows a dedication to learning, improving, and practicing skills that can help a company succeed. Additionally, professionals with an MBA feel more positive in their marketability, as well as the wealth of knowledge they can bring to various efforts. These are some of the advantages of doing an MBA.
1. Greater awareness of the global market
Getting an MBA places you in close contact with other students from around the world who have different work experiences and perspectives on the global economy. In addition to learning from professors, MBA students from the U.S. and can expand their knowledge of other industries abroad.
2. Improving Communication Skills
Effective communication is a fundamental skill for successful professionals. While communication may be considered a “soft skill” compared to a “hard skill”, such as building a P&L model, it is no less valuable. An MBA can help improve oral and written communication skills, allowing you to successfully convey concepts to different people at different levels of an organization to ensure that everyone works together towards a common goal. can do.
3. Expand Your Professional Network
Earning an MBA puts you part of a global network of nearly 100,000 alumni, giving you access to respected and intelligent professionals you might not have had the chance to connect with otherwise. In addition to being part of a wider community, you will also have the opportunity to build relationships with other professionals in and outside the classroom.
4. Increased Employment Opportunities
In a highly competing job market, an advanced degree can help set an applicant apart from their peers. From energy to customer commodities to start-ups, an MBA can be an asset in any industry. Employers typically look to hiring or promoting a candidate with an MBA because they have skills in marketing and finance that others within the organization may lack. This allows them to get off the ground with various initiatives and helps their company grow profits.
5. Better Time Management
Earning an MBA requires challenging course loads as well as extra-curricular activities – not to mention other personal and professional activities. Getting an MBA can help you manage your time effectively, which is not only an in-demand skill among employers but also a valuable life skill.
When Is an MBA Worth It?
Understanding MBA Degrees
MBA coursework covers a broad spectrum of business-related topics, including accounting, statistics, economics, communications, management, and entrepreneurship. MBA programs not only provide students to work for financial institutions but also prepare them for management positions or as founders of startup companies.
Excellence in academics serves as a solid foundation, but distance education is geared toward real-world professional results. That’s why many colleges value relevant work experience in their decision-making process. For example, distance education programs are specifically designed for older individuals who are already in the workforce in management or leadership roles. Distance education admissions know that academic records will be out of date and put a lot of weight on the work experience and professional network applicants bring to the table.
Part-time programs are designed to allow full-time employees to earn an MBA at the same time by offering evening and weekend classes. Employers often pay for a student’s tuition in full or in part if they feel their new degree will make them a more valuable asset to the company.
Full time vs part-time program
There are two paths that can be adopted to do distance MBA. The first is a full-time or part-time program. Although both result in an MBA, there are trade-offs to examine. A full-time student will have difficulty working while on the way to school. These programs are most popular among young students who have earned their bachelor’s degree and can study full-time on campus.
Part-time MBA programs generally come in two flavours. The Executive MBA is designed for students who have been in the workforce in executive or leadership roles and who are typically between 32 and 42. These programs can be very expensive, and students expect their employer to pick up the tab. The part-time MBA is designed for employees who work full-time but are not yet in leadership positions. These students range in age from 24 to 35 and take classes after work, in the evenings or on weekends.
MBA Degree Pros and Cons
An MBA is only worth the cost, time, and effort when the graduate plans to work in a business-related field, in management, or as a company ancestor. Distance MBA may not be useful to those working in other industries unless they are in a management or leadership role.
Not all MBA degrees are created equal. The number of colleges, universities and business schools offering MBAs is increasing, making the space quite crowded. Unless a student earns a degree from a respectable program, it may not be as valuable as expected.
Employing managers also know that distance MBA doesn’t automatically make them an ideal hire. Some believe that those who achieved leadership positions with a degree would have done so without it as well. Furthermore, having Distance MBA won’t make a candidate different if they are already flawed in other ways, such as being frustrated, slow to adapt, or bossy.
While many entrepreneurs hold MBAs, startup companies are not always looking to hire other MBA holders. Instead, they often hire out-of-the-box thinkers who can innovate and offer a different point of view than theirs.
- Graduating with MBA can earn you a higher salary.
- If you do MBA from a top tier school then you will stand ahead of your competition.
- MBA gives you the necessary skills and knowledge to advance in your field.
- Doing distance MBA doesn’t necessarily make you an ideal hire.
- Going to an online or remote school will not get you notified.
- MBA is not worth it if you do not intend to work in any business or management-related field.