If you are working in the world of business, getting a Master’s of Business Administration can help you gain skills that set you apart. There are many factors to consider when deciding whether to get an MBA, and finances are usually at the forefront.
Thankfully, you can now get an affordable degree online, enabling you to work from anywhere and cutting costs like commuting and housing. Here are five smart reasons to consider pursuing your MBA.
-
You Can Pick a Speciality
If you have an area you want to focus on, you can get a degree that centers around those skills. Not only will this provide you with the training that you need to excel, but it will also make it easier to obtain upper-level positions within related fields. There are lots of options available like marketing, entrepreneurship, finance, and different types of management.
-
You Can Network
A bonus of attending school, whether online or in-person, is creating new relationships within your chosen field. Online programs often offer virtual mixers and invite guest speakers to give virtual talks, both of which allow you to make new connections. In addition, you can join clubs or take on leadership positions within your program, which will add value to your resume.
-
You Can Change Careers
If you don’t currently hold a business degree and there is a new arena you want to be a part of, an MBA offers you a path to do just that. A degree provides you a chance to show that you have the needed skills and start in a higher position than you may have been able to without training. Especially with emerging and growing fields like information technology, continuous learning is essential to staying competitive and relevant.
-
You Can Build Your Own Business
If you focus on an area like entrepreneurship, you can sharpen your proficiencies and start your own business. Especially if you are interested in coaching others, a graduate degree will be a reassuring credential for potential clients. But, even if coaching isn’t your desired career, a master’s can provide you with up-to-date information on how to run your own business.
-
You Can Increase Your Salary
Where many undergraduate degrees seem to be a long-lasting financial burden, an MBA can give you a return on your investment in under four years. In fact, the median base salary with an MBA has been estimated at around $115k. In addition, the average three-month employment rate after graduating is 82%. So, not only are you highly likely to find a job soon after graduating, it is expected to pay very well.
Above are just a handful of reasons to consider pursuing a graduate degree in business. Although it may not be the right choice for everyone, the increase in accessible programs has made a degree an option for a wide variety of people in the workforce. Put together a list of pros and cons, and compare the schools you think fit your financial and educational needs. Then you can make sure you are making an informed decision that serves you in the long run.