What are the actual advantages of an MBA? We’ve compiled a few of the top benefits.
Are you thinking about going back to school for your MBA degree? These degrees have been subject to a lot of chatter in recent years. Herzing University’s dean of graduate programs, Ron Kern, already explained on our blog why the MBA market is not flooded, despite some critics saying otherwise.
Online MBA programs are seeing especially good results with a quick return on investment for graduates. As Ron points out, more than 95 percent of Herzing’s 2014 MBA graduates found employment in their field of study within six months of graduating.
So what are the real advantages of an MBA? We’ve compiled a few of the top benefits.
Network with other motivated people
Meeting the right people can make all the difference in your career. One of the most valuable parts of an MBA program, whether online or on campus, is having the opportunity to talk with others advancing their careers. You’ll connect and learn from leaders in business and practice the skill of making meaningful connections. It’s not just that you’ll learn how to network more strategically, but also that you’re doing so with other ambitious people.
Increase your salary
Individuals who own master’s degrees yield an average of $400,000 more over a career span, according to the Bureau of Labor Statistics. What’s more, many graduates see a return on tuition in as little as three to five years.
Learn the intangibles
It’s not easy to be a successful business leader. Learning how to manage teams, spur innovation, contribute to an organization’s culture and motivate colleagues requires both practical knowledge and critical thinking skills that are fostered in MBA programs. Mastering these skills will build your ability to lead.
Broaden your business knowledge
While it’s easy to see all the career advantages of an MBA, don’t forget the most important part. You’re there to learn. MBAs provide insights that are challenging to pull out of your day-to-day work, especially if you’ve been stuck in the nine-to-five routine for a while. You’ll gain knowledge of business operations across departments, which is invaluable to succeeding in leadership roles.
Dr. Jon Outland is the System Division Chair of Business and has over 20 years of experience helping businesses meet their strategic goals. He has been teaching online and on-campus classes for 18 years in the areas of management, e-commerce, project management and information systems.
* Bureau of Labor Statistics (BLS), U.S. Department of Labor, Occupational Outlook Handbook 2020. BLS estimates do not represent entry-level wages and/or salaries. Multiple factors, including prior experience, age, geography market in which you want to work and degree field, will affect career outcomes and earnings. Herzing neither represents that its graduates will earn the average salaries calculated by BLS for a particular job nor guarantees that graduation from its program will result in a job, promotion, salary increase or other career growth.