Graduating with a Master of Business Administration (MBA) could be one of the best decisions you’ll ever make. While the prospect of postgraduate study can be daunting, the benefits of an MBA far outweigh the costs if you’re looking to take your career to the next level.
Designed to complement real-world business experience, an MBA can often be completed part-time or full-time to balance work responsibilities. It’s a significant commitment, so you’ll need to do a bit of research to determine which program is the right fit for you and your career goals.
In the long run, though, an MBA is a respected qualification that will open up top-tier positions in industries including finance, digital business, global management, marketing, strategy consultation, entrepreneurship, luxury, and hospitality. So, what are you waiting for? Here are some other awesome reasons to get an MBA.
The most obvious benefit of postgraduate study is the additional knowledge you’ll acquire. Whether you’re looking to specialise in your field or broaden your talents, an MBA offers valuable lessons in leadership, adaptability, team-building and problem-solving. Studying in an internationally diverse program also strengthens your cross-cultural communication skills, which are incredibly important in today’s globalised workplace.
Love it or hate it, networking is an essential part of doing business in today’s globalised market. By studying an MBA, you’ll be expanding your network of contacts and potential colleagues in the classroom and in the business world. Some programs, like those offered at ESSEC Business School, even offer the chance to study abroad in places like Singapore and France, which greatly expands your international business network.
According to ESSEC, 65% of MBA graduates found their job through networking. If broadening your network of business connections is important to you, make sure to check out the lecturers, alumni, and current participants when choosing a business school. With an MBA, it’s both what you know and who you know that matters.
Better Employment Prospects
An MBA isn’t always a requirement for advancing on your chosen career path, but it could be a bonus or even an essential qualification for a management or directorship position in your dream company. An MBA helps you stand out to potential employers, proving you’ve gone above and beyond your undergraduate degree. During your studies, you’ll be able to strategically analyse your future career moves and how to reach your goals effectively. Plus, the skills you’ll gain during your MBA are relevant in all areas of business, meaning you’ll have more options to move across multiple positions within the same company.
The skills you’ll learn when undertaking an MBA can be utilised within any industry, business or country. While you’ll have the choice to specialise in a field of study, the strength of the program is that it teaches you how to think about complex problems rather than simply focussing on content or coursework. And if you’re not inspired by your current role, an MBA gives you the tools and vision needed to start your own business, set yourself on a new career trajectory, or make the switch to a passion project.
Higher Earnings Potential
If your paycheque is a priority, considering an MBA is a smart financial move. This program is designed for those already in, or working towards, upper management and leadership positions, which are usually accompanied by a higher salary and increased responsibility. Thanks to your competitive resume, you’ll also be in a better position to negotiate your earnings package and progress rapidly up the ladder once you get your foot in the door.