You’ve graduated from University, spent a couple of years in the business world and are making a name within the industry. Your performance is drawing consistent accolades from supervisors, and you are justifiably feeling good about the direction of your career.
But is there more? One recommendation keeps falling on your receptive ears, “To reach the top, get an MBA.”
You know that many upper-level managers recommend you getting one. But is this the right move for you? Is it worth the time, money and effort? For most, it’s a plus, for you pick up skills and expand your business world. What follows are six advantages to getting an MBA.
1. You Will Acquire New Skills and Keep Up With Industry Updates
Most MBA programs focus on industry specialization, targeting young professionals with a few years in the business world. An MBA helps prevent you from falling into a routine which can easily result in career stagnation. You will learn how to deal with the latest issues, implement new techniques and strategies that will constantly challenge how you think and conduct business. And, if you maintain your network, improvement could continue for years. Both parties will feed off that, and these motivators will help everyone maintain a rapid pace to the top.
You and your classmates will keep growing together, maybe for decades.
2. Possibility to Study Online
One of the best things about an MBA is that many universities are providing online platforms for online MBA courses which have significant advantages, such as no need to stop working in order to complete it. According to MastersAvenue an online MBA cuts the time taken to commute to campus altogether and allows you to complete your studies wherever and whenever you wish. This kind of flexibility makes the process of working while studying even easier.
3. An MBA Teaches Teamwork With Type-A Personalities
Team projects are a part of any good business school. Getting everyone to recognize their roles, especially with people who are all used to being in charge can be a challenge. But when you learn to work within that dynamic, it becomes a great skill that will pay off in your real business projects. In the beginning, this will be fraught with people trying to jockey for position and get power without giving up much, but for the good of the team, everyone will eventually settle into their tasks and the unit will be productive.
4. An MBA Makes You Think About the Global Economy
International students are now a familiar presence at today’s B-Schools. Some schools even highlight their large international enrollment as a recruiting tool. A broader scope is a huge advantage in today’s business climate. Engaging with an international crowd, even if it’s just in a school setting, can give you a big advantage in an ever-expanding business environment.
5. An MBA Could Result in a Higher Salary
Of course, with the added challenges and responsibilities that come with promotions, you will want to keep score. And that is done with what you hope will be a corresponding increase in pay. While situations vary, MBA grads can see a pay increase up to 50% over someone with just an undergraduate degree. Look up the salaries of those with an MBA; even the pay of mid-managers might surprise you.
6. Your Public Speaking Skills Will Improve
Successful business people make successful business presentations. At some point, you will be responsible for selling a new product, convincing potential investors your company is a good risk, or maybe why your company should go in another direction. A lack of public speaking skills will hold you back. While most of the MBA student population has above average public speaking skills, some are still lacking. Make no mistake, solid presentation skills will help you more than you will ever believe.
Most business managers can benefit from an MBA. John Martin of Gilead Science, one of the ten highest paid CEOs according to Forbes and David Simon of Simon Property Group Valeant Pharmaceuticals are just two of the top CEOs who have earned this valuable business designation. While there’s no guarantee that the MBA will get you to the CEO Kingdom, it will help, as it has for 29 of the top 100 CEOs.