A life decision that haunts many business students towards the end of their undergrad degree is “To MBA or Not to MBA”? A few years back, an MBA degree (Master of Business Administration) was the talk of the town. Without an MBA, individuals looking for success in the corporate world were considered unprepared, underqualified, and unfit. However, recently, companies have started to prefer talent and skill over education status.
This shift in priority has led to an endless debate over an MBA degree’s benefits. Is it worth the time and money? Which business school is the best choice? What is the best time to pursue higher studies? It is always best to consult an expert when there are so many questions but no answer. And the expert says: enrolling in an MBA degree can never have an unpleasant outcome. Read on to know why professionals still value higher education.
While an undergrad business degree offers vast individual information about the corporate world, an MBA degree prepares them to make it big in it. Higher education pushes students to step out of their comfort zones and experience industry challenges firsthand.
Some of the most common competencies that an MBA helps develop include:
- Management Skills
- Crisis Management
- Hiring and Retention
- Hierarchy Control
- Data Reporting
Note: A general Master of Business Administration Degree has online and on-campus MBA programs that provide the luxury of somewhat similar skill development.
The key to succeeding in the corporate world is networking. An MBA offers business students a chance to interact with many fellow students, teaching staff, professionals, and specialists in the field and build strong connections with them. These connections can help individuals expand their business management capabilities or connect with valuable opportunities.
Additionally, an MBA degree program from a reputable institute also gives students an extensive alumni network. This group of people introduces a beginner to the deepest secrets of the business environment, issues, events, and affairs. All in all, having connections in the corporate world takes a novice one step closer to becoming an expert in the field they want to pursue in later life.
According to a survey conducted by the Graduate Management Admission Council, 96% of global Fortune 100 companies are looking to hire MBA graduates post-pandemic. GMAC’s Corporate Recruiter Survey 2021 also stated that companies plan to increase MBA graduates hiring from 2021. This hiring criteria alone emphasizes the importance of an MBA program for better positions and better salaries. Open doors to several monetary benefits with an MBA that might not be possible with another higher education program.
Indeed, a degree stamp can’t define what an individual ends up making in terms of money. However, suppose a student explores their MBA degree program to its full potential and learns credible skills and techniques. In that case, there’s no doubting the competent salaries they will be subject to in professional life. Some MBA graduates end up making twice or thrice more than their colleagues who’ve completed their undergraduate degrees only or done a regular Master’s degree. This factor is enough reason for someone to pursue higher education in business administration.
Indeed, a beginner does not need an MBA degree to own a business. However, they do require the abilities and information taught in an MBA to ensure the success rate of their startup venture. Entrepreneurship is a big part of an MBA degree program. It’s essential for individuals looking to start their own companies to have significant know-how about starting and growing a business. The Financial Times conducted a study which concluded that 84% of businesses started by MBA graduates were still operating successfully after three years.
The variety of practical knowledge offered in an MBA program teaches aspiring business people to turn their dreams and ideas into money-making reality. Working on a big idea or startup during the MBA program also helps students learn how a new business is formed and run and apply the learning instantly. Many businesses were born within an MBA institute amongst people who shared common interests and visions.
An MBA degree program helps a person clear the path towards their desired field. They start landing better positions featuring better salaries in their dream companies. Individuals looking to pick up the pace of their professional development must enroll themselves in an MBA program to enjoy all the benefits it has to offer.
An Undergrad business degree provides primary education about all aspects of a business. However, an MBA provides specific education opportunities so a student can better prepare for involvement in a specific business area like management, marketing, human resource, operations, and more. Therefore, completing an MBA in the preferred specialization opens doors to better career opportunities for business students.
MBA degrees are oriented towards career progression. Individuals having a long-term career plan must enroll in the degree program to kickstart their long-term goals. When a higher education degree supports a novice, they don’t have to start their journey small or settle for an inferior position in a company. Beginners can start with a higher-level position to faster move up the organizational hierarchy.
Business students with a clear future goal benefit from an MBA program. During the degree program, they garner the authentic experience to pursue opportunities that work best for them. Studying an MBA also broadens an individual’s perspective, teaching them several life skills along the way. These life skills like interacting with people, pulling all-nighters, catering to a professor’s demands come in handy in later life when a student is prepared for all challenges the corporate world has to offer.
Doing an MBA certainly requires a great deal of time, effort, and money, which is why it’s good to consider all possibilities before jumping right into it. According to expert opinion, a higher education degree program always brings individual fruitful consequences. The attainment period may vary from person to person; for some, an MBA might bring instant good luck, while others may struggle a few years before the degree comes to fruition.
Regardless of the time, the benefits take to manifest, and it’s always good for business students to improve their prospects with a higher education degree before entering the corporate world. An MBA provides individuals the opportunity to move towards their goals with determination. Leave no stone unturned when it comes to your objective, and eventually, a path towards success will clear up.