Deciding to study an MBA degree, Master of Business Administration is a big decision for aspiring students. Is pursuing an MBA program offered by a business school abroad worth the time? Are the financial investment and the demanding entry requirements worth it?
If you’re preparing to enter the competitive business world of today, we believe it is. An MBA graduate degree will offer you a wealth of advantages, especially when it’s from a well-regarded top business school. Getting a high salary after graduation, landing a management position, or even becoming your own boss are just a few other advantages.
1. Develop Priceless Management Skills
MBA candidates are usually young professionals with a minimum of two years of work experience. Even senior employees who feel up to the challenge may sometimes apply. After some time in professional life, it is human nature to seek comfort and to avoid taking risks.
MBAs and their connected specializations will teach you a lot about everything that makes a company tick. You will learn how to:
- Manufacture, advertise and sell your products;
- Keeping the company’s finances healthy;
- Maintain the company’s positive image;
- Gather and interpret industry data;
- Hire the right people and keep them motivated;
- Create hierarchies that help the company thrive;
- Making the tough calls at the right time.
Studying a Master of Business Administration forces you to get out of your comfort zone. You’ll encounter the latest International Business trends, apply the newest management techniques, and keep challenging yourself.
2. Get free access to a large business network
As an MBA student, you have great networking opportunities. You’ll get to interact with colleagues, professors and teaching staff (business people with great management experience). And this context will accentuate your business management capabilities.
If you are not doing a part-time MBA program next to your job, you may meet potential employers during internships included with most MBAs.
Finally, you gain access to the extensive alumni network of that particular MBA programme. Your connections will give you a great overview of the business world. Be ready for a deep understanding of the slightest changes in the business environment. You can reflect on some big business issues, and make connections between various global events and world affairs.
3. Better chances and a higher salary for working professionals
The average salary for an MBA graduate is much higher than an employee’s with a regular Master’s. You can expect to earn twice as much as what you would expect from a regular university degree.
Average salaries for MBA graduates
- In the U.S. – $961,156 USD/year
- European countries – $100,000 EUR/year
In two-three years’ time, you cover the investment made with your MBA education.
Average two-year MBA costs at top business schools
- In the U.S. – $114,956 USD/year
- In Europe – $9,800 to $35,600 EUR/year
4. Start your own company from scratch
Many students choose an MBA because they want to become entrepreneurs and learn how to run a business. They have a big dream and want to know how to turn it into reality. An MBA will help you acquire business practices needed to start a new business or help existing ones grow.
Many MBA graduates end up starting their own business. Those who don’t, land middle-level or top-level management positions within big companies. Just imagine how becoming your own boss would feel like.
5. Open the door to thriving career opportunities
Graduates of part-time or full-time MBA programs have higher chances of holding a high-level management position. Over 50% of MBA graduates worldwide are senior managers or board directors. This type of position brings a higher salary, but also greater responsibilities.
According to Bloomberg, top employers hiring the most MBA graduates in Europe include Deloitte, Ernst & Young, McKinsey, and Boston Consulting Group. American companies like Apple, IBM, Procter and Gamble, and Amazon are also hunting for MBA graduates.