Earning a professional business degree, a Master of Business Administration, can have a variety of benefits in your career. The advantages of an MBA often extend beyond your non-work life as well.
Whether you work in finance, technology, manufacturing, marketing or management, an MBA degree will open up opportunities for increased financial reward and career advancement. So stay with us as we list down all the key career benefits of going for an MBA.
In a fast-paced and competitive business environment, companies appreciate graduates who can adapt in the face of a rapidly changing environment and are able to handle complex situations. Studying for an MBA degree is a great way to prepare yourself for the evolving business environment.
You will be exposed to the newest management tools and latest international business trends. And challenge yourself to improve and collaborate with other people.
You become more skilled and versatile regardless of your job title or industry thanks to the widely applicable qualities you learn; like critical thinking, communication, leadership and creativity.
Furthermore, unlike career-specific degrees like a medical degree or teaching credential, an MBA can offer you a wide range of career choices throughout your life.
Career Progression with an MBA Program
In a highly-competitive job market, an advanced degree can help set an applicant apart from other job candidates. Most companies prefer hiring people who have earned MBAs because these graduates are usually better educated and positioned for roles in problem-solving, ambiguity management, and strategic thinking.
Hot positions for MBA students include mid-level management and executive positions in both public and business sectors.
An MBA degree opens up limitless possibilities in various professional fields. In fact, people that have an MBA immediately have a competitive advantage over other applicants who lack the qualification. Employers recognize that holders of the qualification are disciplined and can bring greater value to the organization.
So if you want to further your career in business management or if you want to find a top-level management job, an MBA would definitely increase your chances of achieving these.
Study Without Taking Time Off Work
Remember, as well, that the ability to enroll in online MBA programs means you can study without having to take time off work.
Online MBA courses are often designed to be taken by professionals in full-time employment. The online mode is favoured by busy people because of the flexibility, affordability, greater course choices offered and because of the technology learning online study promotes (Source: Hiboox.com).
And you may be able to avoid time wasting exams and instead focus on skill development. Online courses tend to rely on projects, assignments and quizzes for (continuous) assessment.
Increased Earning Potential
Another benefit of this postgraduate degree is that it generally goes hand-in-hand with higher employment rates. In fact, a recent study published in the Journal of Education for Business showed that the average MBA graduate’s pay was 50% higher than their position before earning their degree.
However, it is important to note that salaries are determined by a number of factors, including work experience, employee bonuses, and how well you negotiate with your employer about your contract.
Earning an MBA makes you part of a network of numerous alumni, a network that is very likely to extend internationally if your ear a global MBA online, such as one from Australia. Participating in an MBA program gives you the chance to build relationships with respected and intelligent professionals that you may not have otherwise had a chance to connect with.
By going for an MBA, you gain a network of business acquaintances, alumni peers, industry experts, and financial analysts that can help you succeed in every aspect of your professional life. In fact, people often land great jobs by knowing the right people in an industry.