Off late, an MBA (Master of Business Administration) degree has become imperative for students aspiring for a flourishing career in this demanding job market. It helps to open a myriad of opportunities in numerous industries, including IT and operations.
However, deciding to do an MBA is a big step, especially with the significant course fee and high entry requirements. Hence, students need to set a career goal, as every job sector has distinct skill sets. If you are firm with your plan, the degree can help you obtain credibility in your chosen industry.
The MBA degree from a top-tier business school opens the door to an ocean of opportunities. According to the multiple reports by the Graduate Management Admission Council (GMAC),
- 90% of the students found MBA worth the investment.
- 85% of the alumni are in better job positions due to the degree
- More than 50% of them have gained work experience in diverse work sectors.
- MBA graduates lifetime earning is close to $2 million
- MBA graduates from top B-schools enter jobs with a 100% hike in the paycheck
MBA is a sought after degree for many reasons. So without further ado, let’s now discuss a few notable benefits of earning an MBA degree in today’s market.
Upgraded knowledge and management skills
These days, an MBA is either pursued by young professionals with two years of job experience or by highly experienced employees who want to explore new avenues. The MBA curriculum allows employees to challenge themselves to learn about the latest developments in the business sector and develop skills to adapt to the changes. The course will help you:
- Develop leadership and people management skills
- Create a long-term business network
- Manage emergency crisis
- Maintain financial security of the firm
- Analyse various business data to create reports
- Choose the right talent pool for the betterment of the company.
- Take tough decisions when needed.
A wide range of specializations to fit your career goals
Due to the international market’s popularity, many universities have introduced numerous new MBA help & specialization programs focusing on different job sectors. Some institutions provide dual specializations, which further helps to build your management capabilities and increase your versatility. A few of the ‘in-demand’ MBA courses are:
- Marketing – Focuses on learning about promoting products and services.
- Finance – Ideal course bankers and finance experts; the course focuses on data analysis, accounting, and more.
- Human resources – The employees are the main focus here, including employee growth, team development, defining job responsibilities, and more.
- International Business – Great specialization option for individuals who work in MNCs or aspire to work abroad in a foreign firm
- IT management – One of the most sought after specializations that rely on developing unique product ideas based on data analysis.
- Entrepreneurship – Popular among individuals with a unique start-up idea
- General Management – Another versatile MBA specialization essential for maintaining an adaptable business scenario
- Operations – If you are interested in the production line, this course will teach you how the entire process works.
- Strategic Management – Focuses on long-term business planning.
Access to vast networking opportunities
An MBA school is a great place to meet new people from diverse industry sectors and expand your connections to gain insight into the business world. You get the opportunity to interact with highly qualified faculty members who are former or current professionals at top business organizations.
It helps you to learn different methodologies to overcome challenges and gain an understanding of the business environment. This is another reason why many students with limited professional experience lean towards getting an MBA. It gives them access to extensive alumni networking through which they can interact with diverse people and organizations.
High-paying job roles
There’s no denying that most of the MBA candidates sign up for the course for a lucrative salary package. If you compare the average income of a regular Master’s graduate with an MBA degree holder, you will notice that the latter earns twice or thrice the amount.
As per the report, the average annual salaries of professionals with an accredited MBA degree around the globe are:
- Switzerland: US $123,500
- United States: US $102, 100
- Canada: US $99,800
- France: US $98,500
- Australia: US $98,400
- United Kingdom: US $92,400
- Italy: US $86,400
- Singapore: US $82,700
- Japan: US $80,000
- Germany: US $77,200
Career development & better opportunities
All MBA graduates have high academic qualifications, which undoubtedly increases their chances of obtaining senior-level positions at an organization. MBA is the standard qualification criteria for managerial posts in almost all business sectors.
Most students who pursue an MBA degree become managers, administrators, and board directors. However, remember that high-level positions come with attractive paychecks but endless responsibilities and extended working hours.
In-depth understanding of the industry
The program’s versatility encourages many to enrol for a full-time or part-time MBA course to make a career switch. It helps to get an overview of the industry and gain a more profound understanding of the ever-changing business environment.
Be it in marketing, consulting, or other domains, the MBA program will give you a broader knowledge of the fundamentals of industry-specific businesses and help you develop advanced decision-making and problem-solving skills.
Strengthens authority and reputation
An accredited MBA degree can improve your reputation and bring you recognition in your work sector. Completing an MBA program is proof to the world that you have the capabilities to achieve great things and the determination to work hard to get over any obstacles.
An MBA degree is a challenging coursework with countless case studies and an MBA assignment. It will help you gain theoretical knowledge and grow personally and professionally under the guidance of highly knowledgeable MBA faculty and keep up with the changing business scenario.
Wrapping it up
An MBA degree is the best way of gaining knowledge and skills in the professional world. It will make you aware of the market’s diversity and upgrade your understanding of the rigorous competitiveness of the business world. If you are keen on holding a leadership position, enjoy responsibilities, and continue learning, an MBA degree would be perfect for you. However, please keep in mind that accreditation is highly crucial for any business program.
David Logan has an experience of programming, and works at an MNC in London. When he is not working, he guides students with Programming help, overcome subject-related challenges on request via MyAssignmenthelp.co.uk in United Kingdom.