Many websites will mislead you by stating that MBA graduates aren’t ideal employees anymore. They’ll mention facts and figures exclusive to the coronavirus pandemic to downplay the importance of an MBA in 2021. A master’s in business administration enhances your knowledge, promotes your career-building endeavors, and helps students strengthen their business acumen effectively. It probably isn’t worth your commitment if you have alternative ambitions about your future. But – for business enthusiasts – graduating with an MBA improves their career prospects. So, you should definitely pursue an MBA if you wish to become a lucrative candidate for employment opportunities in the business industry.
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Nine career benefits for pursuing an MBA degree
1. Many career pathways:
An MBA program doesn’t cover a single subject. Instead, it deals with a variety of topics. Students can, therefore, pursue career options in different departments. You may enter the field of technology, human resources, economics & finance, and many other institutions. Don’t assume that your MBA qualifies you for jobs in the business administration sector only. An MBA graduate is eligible for employment in healthcare, the legal sector, and even information technology. The sky’s the limit, one may say!
2. Convenient hiring:
Statistics show that only 77% of employers planned to hire MBA graduates when the pandemic had begun. Still, this number reached 90% by the end of 2020. Distance learning has enabled students to expand their business expertise and pursue formal education digitally. Also, due to time constraints, many students can’t prepare for the GMAT test. So, they can acquire an online mba no gmat required to improve their career prospects. This degree allows pupils to study without leaving their domestic confines and apply for jobs waiting for graduates in 2021.
3. A better income:
Graduates earn from $90,000 to $120,000 on average annually after finishing their MBA. No wonder a master’s in business administration constitutes one of the highest-paying degrees in the country. Alternatively, earning an MBA can be expensive, but it’s altogether a rewarding investment to pursue business education online. With experience, you can earn as much as the Swiss pay an MBA alumnus (over $120,000). So, don’t hesitate to choose an MBA degree as your chosen academic pathway.
4. Greater job security:
Uncertainty engulfs several graduates and makes them feel insecure about their future. But an MBA degree doesn’t upscale your abilities but also protects your career. Although job security is not guaranteed immediately after graduation, with experience, you can obtain a well-protected position in the business administration field. Also, continued education allows MBA graduates to keep their jobs and even seek promotions within their organizations by upgrading their qualities.
5. Networking opportunities:
Some 75% of alumni believe that their business education helped them expand their network. Your connections serve as your most valuable assets in business administration. Attending classes allows you to create meaningful relationships. You later leverage these connections to advance your career in the business industry. This network helps you identify better employment opportunities as well. Also, you can contact these when you’re trying to establish a separate business.
6. Managerial skills:
That’s something you may consider the significant focus of your MBA education, i.e., how to become an effective manager in an organization. A business administration education helps you develop the skills necessary to organize a company’s business operations and supervise its financial procedures. Thus, you become well-versed in the art of running an entire company! Since an MBA degree improves a student’s leadership/managerial skills while teaching you how to manage people effectively.
7. Entrepreneurial ventures:
Many students now pursue entrepreneurial adventures to become economically self-sufficient. An MBA degree helps these students achieve their business objectives and acquire the knowledge they require to establish a privately-owned company successfully. Since an MBA teaches students how to operate a business successfully, you’ll learn the basics of starting your company from scratch. Also, it’ll improve your communication skills so you’d convince more investors to spend on your idea.
8. Enhanced confidence:
What do you think is a quality that’ll make you surpass your MBA colleagues? Studies show that an MBA graduate becomes well-equipped with the trait of self-confidence. In 2017, a survey of several Australian graduates showed that the MBA experience “increased self-confidence” in two-thirds of them. Since a feeling of accomplishment contributes to business administration alumni feeling self-reliant and confident about their career prospects. Unfortunately, a sense of reward tends to overwhelm them.
9. Communication skills:
Employers look for people with strong communication skills. You can interact successfully with clients, coworkers, and superiors if you have an MBA. These abilities will help you develop in your profession and apply for better jobs. An excellent communicator doesn’t find it hard to function properly in an organization. Also, these skills are universally appreciated no matter which industry you join, as communication demonstrates confidence and determination.
Does an MBA degree change your career prospects for the better? Well, this question is better answered by business school alumni, isn’t it! A GMAC survey shows that 93% of 2000-2011 alumni believe that the MBA degree “was personally rewarding” for them. Even though COVID has brought a downfall for MBA graduates, the post-coronavirus world may need more business professionals in 2021. Since a business administration education hones your marketing, accounting, and leadership expertise. Also, it prepares you to accept management positions in some of the world’s leading business organizations today. So – yeah – an MBA degree does improve your chances at a better business career.