What is an MBA degree? A master of business administration (MBA) is a degree that you obtain after your college education in order to expand your career options. In order to pursue an MBA, you must have a bachelor’s degree already in place. Most schools with MBA programs require either a GMAT or a GRE to be complete beforehand. Prestigious MBA programs tend to be competitive and expensive, but upon completion, candidates have gone on to finding better career paths. An MBA program will cover general areas of the business field including but not limited to policy, law, human resources, administration, economics, marketing, specialization and international relations.
What is an MBA Degree? : The Benefits
The best thing about an MBA is its flexibility. Once you have a higher degree in business, you’ll be able to pursue career options beyond your current job situation. You’ll be able to expand into departments beyond just what your bachelor’s degree enabled you to pursue. You’ll not only be able to have flexibility when it comes to career choices and moves, you’ll also be able to earn a higher income. According to surveys conducted in 2013 by the GMAC, the average salary for an MBA holder was approximately $100,000. Within four years, most MBA holders were able to see a return of a hundred percent after four years of investing in their degree.
The Advantages of an MBA
You’ll not only have more flexibility and higher salary with an MBA, but you’ll stand out among your competing candidates at job interviews. Those who have an MBA have a greater likelihood of landing a job in an executive position than those without one early on in their careers. Furthermore, you’ll have an opportunity to develop a wide array of skills that’ll help you develop your role as a critical component of your industry. You’ll also develop skills to become a leader in your field. The business world integrates management, communication, technology and emerging fields. You can become a top member in a growing field. Pursuing an MBA will also increase the size of your network. You’ll be able to benefit from your studying period to find network contacts through your professors and peers. You’ll also develop a pool of networks and relationship through the program itself. Many MBA programs encourage networking among students. There are also a number of programs that provide mentorship and assistance during job hunts. Furthermore, those who hold an MBA are more likely to be able to keep a job they land long term. Among recruiters, you’ll also be considered a desired candidate.
Studying for Your MBA
Many corporations offer their team members an option to pursue an MBA while also working full-time. They can attend night school or take online courses while receiving financial support from the company to pursue their studies. Corporate sponsorships may be available to you at your company so it would be worth your while to inquire at your HR department if such an option is there for you. While pursuing your MBA, you’ll also develop leadership and teamwork skills. These skills can become a part of your overall integrity as a business person, which could potentially make you a strong candidate to become a leader of a company or a major corporation.
An MBA education will also help you to develop further critical thinking skills. You’ll have a better sense of analysis and a strategic mindset. Such skills are vital to making business decisions. Taking problems head on rather than cowering away is the distinction between someone who can potentially be a leader as opposed to one who may not be ready. Once you earn your MBA, you’ll not only have assets such as these but you’ll feel and naturally exhibit more confidence in your job. Confidence makes a great deal of difference when conducting business. It’s something that you develop over time from trial and error, and honing your skills. An MBA gives you the time to develop in this area.
The types of courses that await you in order to broaden your scope of the business world are the international business, strategic marketing, operational management, organizational development and change, strategic business conduct and managing funds.
The most important thing to pursuing your studies to obtain an MBA is to be focused, driven and passionate about your studies. An MBA usually takes anywhere between a year and a half to two years to complete. This is a substantial amount of time to commit yourself to studying. The end sight may be prosperous, but you must have the drive and determination to be a student in business administration. If you have a sense of what kind of ideas you want to study during your MBA pursuits, it helps you narrow down your vision thus homing in your focus on a specific career path. The benefits to this are tremendous because it’s a sign of you having a good sense of what to do once your studies are over. Those who have a clear sense of what to pursue upon graduation are more likely to find jobs faster.
Plan a Career After Obtaining Your MBA
Beyond just a corporate environment, an MBA can change your life and career path drastically. If you weren’t initially passionate about working at a major corporation, you could look in other areas that require a business and administrative training. Such industries include healthcare, manufacturing and the government. All of these industries are stable fields where you can land a consistent job with a solid income. Besides that, if you’ve always envisioned yourself in a leadership or executive role at your current company, you can count on an MBA contributing to your chances of success for that goal. Those who hold an MBA are also potential candidates for teaching at universities or colleges in business administration. If you have the experience, degree and some publications in the area you’re concentrating on, you’re likely to be a candidate for pursuing a side career as a professor.