Why Get an MBA Degree? The Top 10 Benefits You Should Know

When advancing your career, few credentials carry the weight of a master of business administration (MBA). This graduate degree can lead to professional growth, leadership roles, higher salaries, and opportunities across various industries. As the business landscape evolves, the demand for MBA professionals is driven by the need for strategic thinkers and influential leaders who can navigate the complexities of today’s global market.

This post will explore the top 10 benefits of earning an MBA, highlighting why this degree remains a valuable investment for ambitious professionals.

The value of an MBA is measured by many factors, including salary increases, career progression, and the overall impact on one’s professional trajectory. While the tuition for an MBA can be significant, the potential financial rewards often outweigh the initial investment. MBA graduates typically see substantial increases in their earning potential, with salaries that can be notably higher than those of their peers who hold a bachelor’s degree alone or other types of master’s degrees.¹

The networking opportunities and access to a global alumni network provided by an MBA program can lead to lucrative career opportunities that might otherwise be inaccessible.²

When comparing the value of an MBA to other types of master’s degrees, the MBA often stands out for its versatility and broad applicability across industries. While specialized master’s programs, such as those in engineering or healthcare, offer deep expertise in a particular field, an MBA equips graduates with a comprehensive skill set relevant to varied pursuits, from finance and consulting to technology and entrepreneurship.² This versatility makes the MBA a highly sought-after qualification in today’s competitive job market.

If you’re passionate about business, there are many reasons why getting an MBA could help you on your path.

Earning an MBA can lead to an increased salary. As an MBA graduate, you may earn a higher salary than other master’s and bachelor’s degree holders. In 2023, MBA holders enjoyed median salaries of around $125,000.³ As MBA grads gain more work experience and hone in on specific industries, salaries continue to increase. Salaries will also vary based on location.

CSUMB Online MBA alumni report receiving an average salary increase of 23% either during or upon completion of the program.⁴

Some businesses require that you have an MBA to be considered for certain positions.² Some positions, including senior management and executive-level roles, specifically require that you hold a master’s degree.⁵ Whether you want to move up the ladder at your current company or you’re eyeing your dream job with another organization, having an MBA makes you a stronger candidate for more career opportunities.²

Studying for an MBA can help students with a bachelor’s degree in a non-business-related field build credibility and successfully transition to a business career that they may find more fulfilling.² Some MBA grads can more easily move into positions they enjoy more or modify their job descriptions so that they’re working on projects they find more engaging.

Studying for your MBA requires that you work with other business professionals in group settings. You can practice your leadership skills in true-to-life situations and receive valuable feedback from professors and colleagues.⁶ Increasing your business knowledge while dedicating yourself to graduate study can help you obtain higher management and leadership roles.

An MBA equips aspiring entrepreneurs with the tools to build and run a business. The curriculum typically includes courses on innovation, business planning, and leadership development, helping you not only create a business plan but also lead a team to success. You’ll come with the confidence and competencies you need to become a successful entrepreneur.⁷

Business constantly evolves, and staying current with the latest trends is crucial for success. Studying for an MBA will help you understand today’s most pressing global business challenges. This expanded awareness helps you see big-picture issues that affect various industries, including sustainability, supply chain management, and globalization. With an MBA, you’ll be equipped to anticipate how current business issues will affect your company, implement solutions to keep it ahead of competitors, and guide your organization through periods of transformation.⁸

MBA programs typically include group work that allows students to connect with diverse peers. A great benefit of a strong MBA program is that you’ll interact with business professionals from around the world who you’d otherwise never have the chance to meet.² Not only does this expand your horizons in a personal and intellectual sense, but it also may lead to international opportunities.

A global perspective is essential for business success in our interconnected world. MBA programs often emphasize international business and may include opportunities for global immersion trips, international internships, or studying abroad. These experiences help you understand how business is conducted in different cultural and economic contexts, making you more adaptable and competitive in the global job market.²

MBA programs provide unparalleled networking opportunities. From classmates and professors to alumni and industry connections, an MBA introduces you to professionals who can be valuable colleagues and resources throughout your career. These networks can lead to new job opportunities, partnerships, and collaborations.²

In an online MBA program, you’ll be connected to faculty via email, phone, video chat, and your online learning platform, so there are plenty of opportunities to converse with the 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.

Studying for an MBA gives you a well-rounded skill set to apply in various business environments.² Through diverse advice from professors and exposure to students with an array of business experience, you can gain business knowledge that helps you tackle challenges in whatever industry interests you the most.

MBA programs also offer the chance to dive deep into specific business areas, such as finance, marketing, operations, or human resources. This specialized knowledge is crucial for professionals looking to advance in niche sectors or take on specialized roles. Many programs also offer electives or concentrations that allow you to tailor your studies to align with your career goals.²

Beyond the professional advantages, an MBA fosters significant personal growth. Getting an MBA can help shape you into the person you want to become. You’ll develop pragmatic skills, such as leadership and time management, and less tangible qualities, such as confidence and perseverance. The challenging curriculum, in tandem with collaborative projects and leadership opportunities, helps you develop critical thinking, problem-solving, and decision-making abilities.⁵ The process of earning your degree can be a positive life change that improves your career and all areas of life.

With an MBA, you can better weather economic downturns and job market fluctuations. The advanced skills and knowledge you gain make you a more valuable asset to employers, increasing your job security.⁵ In many cases, MBA graduates are the last to be laid off during tough economic times because they are often integral to shaping the strategic direction of their companies.²

MBA programs emphasize teamwork and collaboration, as much of the coursework involves group projects and discussions. Learning to work effectively with diverse people and teams prepares you for the collaborative nature of the modern workplace and helps you contribute to collective success. These interactive experiences also allow you to practice your leadership skills and teach you to lead by inspiring and motivating others.⁹

Earning an MBA offers a wealth of benefits that extend far beyond the classroom. The Online MBA program at California State University, Monterey Bay—the nation’s only business program with a focus on Responsible Business—provides the knowledge, skills, and network to help you achieve your goals.

As you learn from a supportive faculty of experts in this flexible online program, you’ll have the chance to encounter in-depth study, group projects, global perspectives, and sophisticated technologies while viewing all facets of business administration.

Don’t wait to start moving up. Schedule a call with an admissions outreach advisor today.