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With so many ways to achieve your dreams and goals, it can sometimes be overwhelming to decide which route is best for you. Typically, post-secondary education is an excellent option, with an MBA being one that many people are familiar with. But here’s the thing – according to statistics, MBA enrolment is down here in the United States, which has left plenty of people, in particular students, questioning whether this degree is still wise to obtain.
Here we’ll take a look at five reasons an MBA can still be well worth your time, money, and effort, and how exactly it can help solidify your future.
If your career goals involve any sort of management or leadership position, then there are a fair few specific skills you will need to possess. An MBA program is designed to teach you all of these important skills that will prepare you for a senior management position.
Prepare Yourself for Management and Leadership Positions
If your career goals involve any sort of management or leadership position, then there are a fair few specific skills you will need to possess. An MBA program is designed to teach you all of these important skills that will prepare you for a senior management position. You’ll learn about all the newest management techniques and trends that can help you to be even more effective in your future career.
The Potential to Earn More Money During Your Working Years
While you may not base your future career on its salary, it’s important to be realistic and honest with yourself. There is likely an amount you have in mind that you’d like to be able to make in order to afford a comfortable lifestyle. Most of the higher-paying jobs out there will require education and training of some sort, and an MBA can be just that.
According to statistics from 2018, the average pay for MBA graduates is higher than those without, and it seems to be increasing each year. The percentage of increase alters based on the actual school that the student attends, and the field in which they are employed. All in all, those with an MBA were making more money.
Start Networking Before You Even Enter into Your Program
Another great reason to enroll in an MBA program is the networking opportunities. It’s important not to downplay just how important it is to meet people in your chosen industry/field, make a name for yourself, and really get a head start on opening career doors for the future.
Take for example the MBA tour which, among other things, is a great opportunity for networking. Why attend The MBA Tour, you may ask? This is a chance for people to chat face-to-face in a small group setting with admissions representatives from various schools, fellow applicants, and alumni. You can learn more about specific programs, and so much more.
You will already start to form relationships before you even start your program, which means your networking skills will be in full effect. You never know which of those relationships could lead to a job offer once you graduate.
“An MBA is one way to learn management skills. Better yet, an MBA teaches you how to make rational, data-driven business decisions, how to mitigate risk and assess all of your options. This helps you avoid drifting along a comfortable path until you’re shocked by the change. Depending on the MBA program and coursework you take, you could learn about hiring and motivating employees or general financial management.” – 5 Reasons Why the MBA Is Still Relevant
Excellent for Those Wishing to Start Their Own Company
If you have dreams of one day starting your own company, an MBA should be a given. This type of program is perfect for entrepreneurs who may have great ideas, but don’t necessarily have the skills or knowledge when it comes to executing them. Just because you have a fabulous invention, doesn’t mean you know how to build a business from scratch. Even the best ideas can’t make money if you don’t have a solid business plan in place.
Set Your Sights on an Overseas Position
Perhaps your career goals are ones that will take you overseas to distant countries. If that’s the case, you can expect the competition to be fierce, which means you need to arm yourself with as much skill and knowledge as possible. Many of the top employers in Europe seek out those candidates who have an MBA. Often the MBA graduates are the ones that hold positions such as a board director or senior manager. Sure, that means more responsibility, but it also means a higher salary.
Perfect Your Collaboration and Communication Skills
Two very important skills that people need in a variety of careers is the ability to collaborate and work with a team, as well as communicate effectively. While you may think these are skills a person needs to naturally possess, in reality, you can learn them and perfect them. Your MBA program will help you to do just that so that by the time you graduate you’ll be at the top of your game and ready to work with a team.
Plenty of Great Reasons
As discussed, there are plenty of great reasons for a person to give serious thought to pursuing an MBA degree. At the very least, it helps to open more doors for the future, which gives you more options moving forward.