There are many graduate business degrees to choose from, including the Master of Business Administration. If you’re thinking about going to business school and asking yourself, “Is an M.B.A. right for me?” then you might be interested in finding out exactly what an M.B.A. can do for your career.
Whether your aim is to expand your cross-functional business skills, have a clearer career path in front of you or to increase your earning potential, the M.B.A. might be the right graduate business degree for you. Below are common reasons students choose to earn their M.B.A. degree.
You Want to Become a Business Professional
A vast majority of business school alumni say their graduate management education was professionally rewarding and that it prepared them for leadership positions.1 Part of the reason the M.B.A. is such a valuable business credential is that it provides graduates with advanced, real-world business skills that are required of organizational leaders. Here’s a sample of what you’ll study while pursuing an M.B.A.:
- Business data analysis
- Quantitative decision modeling
- Leadership and organizational behavior
- Global business issues
- Negotiations and conflict resolution
- Professional ethics
- Supply chain management
- Strategic planning
Having cross-functional, interdisciplinary business skills can set you apart from your peers and set you up for long-term career success. The M.B.A. is built around developing the widest range of skills to help graduates develop a big-picture understanding of business. If your aim is to become a future business leader, earning an M.B.A can give you a wide-angle view of how organizations really work so you can drive operational excellence.
You Want to Advance Your Career
Has your career plateaued? Do you feel underqualified for senior leadership positions within your organization? Have you been passed up for a promotion because you weren’t “qualified” enough despite years of experience? If your goal is to climb the corporate ladder, an M.B.A. can give you a clearer path to the top.
According to the Graduate Management Admission Council (GMAC), “the majority of business school alumni are in senior-level positions or higher in their organization” five years after graduation.2 The GMAC’s 2016 Alumni Perspective Survey Report also found that the majority of graduate business school alumni credit their graduate management education for accelerating the pace of their career advancement and preparing them for leadership positions.
Obtaining an M.B.A. sends a signal to employers that you take your professional development very seriously. Although no position is guaranteed with an M.B.A., the credential will help you get noticed.
You Want to Increase Your Earning Power
If your sights are on the next step in your career, that probably also means you have the desire to increase your earning potential. In that case, you would be wise to consider an M.B.A. for the financial success it can bring to your life. Although an M.B.A. alone doesn’t guarantee a six-figure income, there’s enough evidence to suggest that having an M.B.A. will almost certainly increase your earnings. In fact, 90 percent of employed M.B.A. alumni cite increased earning power as one of their top educational outcomes.
According to a recent survey of corporate recruiters conducted by the GMAC, employers plan to offer recent M.B.A. graduates a median starting base salary of $105,000 in 2016, up from $100,000 in 2015.3 The GMAC also recently conducted a survey of M.B.A. alumni that found graduates of online and part-time M.B.A. programs experienced a $10,000 initial boost in base salary.1
Is Now the Right Time for an M.B.A.?
If it sounds like an M.B.A. is right for you but you aren’t sure if this is the right time to pursue a graduate business degree, then be sure to download our free guide Why an M.B.A., Why Now? to learn why it might in fact be the perfect time for you to pursue your degree.