Why Get an MBA? Top 10 Reasons
If you're passionate about business, there are a lot of reasons why a Master of Business Administration (MBA) degree could help you on your path. As you study, you’ll learn about the latest in business trends, work on meaningful projects and gain the skills and confidence you need to succeed. Here, we’ve put together 10 reasons to get an MBA.
1. Better Pay
According to one study, MBA grads achieve a median starting salary of $45,000 more per year than those with only bachelor's degrees.1 This trend continues throughout your career, too: Graduates with MBA degrees who have more than seven years of experience can expect to earn more than $150,000.1 MBA grads with more than 10 years of experience can earn upwards of $200,000 a year.1 Over 20 years after graduation, graduate business school alumni earn a median of $2.5 million in cumulative base salary.1
2. More Opportunities
Some businesses require that candidates have an MBA in order to even be considered. Some positions, including many executive roles at large companies, specifically require that candidates have their master's degree. Whether you're eyeing your dream job at another place or want to be able to move up the ladder at your current company, having an MBA degree enables you to pursue more career choices.
3. Increased Leadership
Studying for your MBA enables you to work in group settings with other business professionals. You can practice your leadership skills in true-to-life situations and get valuable feedback from professors and colleagues. Increasing your business knowledge while dedicating yourself to graduate study can help you obtain higher roles that include management and leadership functions.
4. Mastery of Business Trends
Studying for an MBA clues students in to the most pressing global business issues today. This expanded awareness helps graduates see big-picture issues that affect a wide variety of industries, including sustainability, supply chain management and globalization. MBA grads can anticipate how current business issues will affect where they're working and make innovations to keep their company ahead of competitors. What you learn in an MBA program can be applied to a current role or help you move into one that's more engaging.
5. Connections With Global Business Pros
A report by Forbes shows that MBA graduating classes of 2017 had more international students than ever before.2 MBA programs will typically include group work that allows students to connect with diverse peers. A great benefit of an MBA program is that students will meet business professionals from around the globe they'd otherwise never have a chance to interact with. Not only does this expand your horizons in a personal and intellectual sense, it also may lead to international opportunities down the road.
6. New Mentors
MBA faculty often have extensive business experience themselves, which can lead to valuable mentorship opportunities. In an Online MBA program, students will be connected to faculty via email, phone, video chat, and their online learning platform, so there are plenty of opportunities to converse with seasoned business professionals who teach your courses. If you work to cultivate these relationships, your professors can help make career recommendations, offer additional resources and perhaps even be your references for job applications.
7. More Fulfilling Career
For students who have their bachelor's degree in a non-business-related field, studying for an MBA can help them build credibility and successfully transition to a business career that they may find more fulfilling. If you're currently working in business but feel stagnant in your role, pursuing an MBA signals to your employer that you are driven and committed to learning more. Some MBA grads can more easily move into positions they enjoy more or evolve their job descriptions so that they're working on projects they find more engaging.
8. Entrepreneurial Development
Maybe you’ve been sitting on a great business idea, but aren’t sure how to get started. For aspiring entrepreneurs, an MBA can help prepare you to launch a business. An MBA program provides a holistic view of business, giving students the confidence and competencies they need in building a business plan, hiring and managing employees and adapting to changing market conditions.
9. Skills Acquisition
Instead of staying stagnant in your skills or being restricted to what you can learn from the company you work for, studying for an MBA gives you a well-rounded skill set that you could apply in a wide variety of business environments. Through a variety of exercises in class that prioritize current best practices, diverse advice from professors, and exposure to students with an array of business experience, students can learn business knowledge that can help them to tackle business needs in whatever industry interests them the most.
10. Personal Growth
This last reason is perhaps the most important of all: Getting an MBA can help shape you into the person you want to become. You will develop pragmatic skills like leadership and time-management skills, as well as less tangible qualities like confidence and perseverance. A degree can be a positive life change that not only improves your career, but all areas of life.
Learn About the Online MBA Program at CSUMB
When you’re ready to accelerate your career, an online MBA can help. Check out the flexible Online MBA program from California State University, Monterey Bay.
1 Retrieved on April 5, 2016, from fortune.com/2015/05/19/mba-graduates-starting-salary/
2 Retrieved on April 5, 2018, from forbes.com/sites/mattsymonds/2015/09/09/mba-students-of-2017-are-more-diverse-more-international-and-more-feminine-are-they-also-smarter/#27f15e955d45