Would earning a Master of Business Administration (MBA) degree put you in a better position to achieve your career goals? If you’ve considered such a pursuit, there’s no time like the present! Consider these reasons to take action now:
A higher degree increases earning potential.
Let’s face it: One of the top motivators for pursuing advanced education is expected financial gain. In 2018, new graduates with a bachelor’s degree in business had a projected starting salary of $56,720, according to the National Association of Colleges and Employers. That figure jumped to $69,756 for those who obtained an MBA.
You don’t have to put the rest of your life on hold.
Online programs offer great flexibility. Students generally can complete coursework at times convenient to the rest of their obligations, such as work and family. Even hybrid programs that include an on-site component in addition to online studies aim to minimize travel and other disruptions to adult learners.
Institutional choices are plentiful, including many top-name places.
Colleges and universities know that online learning is more than a passing fad. In response to student demand, an increasing number of institutions offer MBA studies virtually. From classic fields such as marketing and organizational leadership to niche specialties such as sports management and church administration, students can find business programs that fit their individual interests.
More great news: Plenty of well-known, top-ranked places are getting in on the action – Carnegie Mellon, University of North Carolina, Indiana University, and Villanova University, to name just a few. The addition of “big guys” to the mix raises the overall respect level for online studies.
Increased choice also means a greater range of presentation and learning styles. While one school might focus on data analysis, another may rely more on case studies. People looking to work closely with fellow students may seek out programs emphasizing a sense of community. For others, a low student-to-faculty ratio might be very important. No single “right” style exists, so students can explore and find approaches that fit with their preferences and goals.
It may be more affordable than you think.
Yes, pursuing an MBA can be costly. However, the number of options out there gives prospective applicants good choices for every budget level. Talk to financial aid advisors at institutions of interest to see what loans, scholarships, and other monetary assistance might be available to you. Also, examine the benefits offered by your current employer; you might be eligible for tuition reimbursement.
As you figure out finances, it pays to remember that MBA programs do not take as long to complete as a bachelor’s degree. Thus, recouping a return on your educational investment begins quicker.
An MBA increases your career options.
Finally, an advanced degree presents more opportunities. An MBA is a standard expectation for some companies and positions because it demonstrates a high level of knowledge and perseverance. Other employers may not list an MBA as a requirement but give it definite weight when making hiring and promotion decisions.
A degree in hand also sets you up for whatever the future brings. If the recession some experts predict becomes a reality, candidates will need every advantage possible to secure desirable employment. If the global marketplace thrives, an MBA puts you in the driver’s seat to take advantage of the myriad of possibilities. Greater control of your future is worth those hours of studying!