One of the most sought-after degrees by professionals and students worldwide, the Master of Business Administration (MBA) degree is growing in popularity. An MBA degree offers an extensive and all-encompassing business education and skills. Students are even better prepared to assume a variety of strategic and leadership roles in a range of industries. But what sets it apart from other Master’s degrees, and why are all professionals seeking a seat in an MBA program all over the world? Let’s find out.
Why an MBA degree?
Primarily, an MBA program is aimed at helping students build a solid foundation in a range of key business disciplines, such as finance, marketing, operations, strategy, and leadership. The idea is to build a skill set that aids these students in tackling complex business challenges effectively to achieve positive outcomes. Students in the program have shown promise in analytical thinking, leadership, problem-solving, and strategic thinking.
It opens a wide range of opportunities around executive-level positions, consulting roles, international business ventures, entrepreneurship, product management, financial roles, and other related roles. In today’s competitive and challenging job market, obtaining an MBA is the most sought-after method of giving your career trajectory a competitive edge.
The most popular reasons students have given for starting an MBA degree are: to acquire more skills and knowledge about the business world, to expand their area of expertise; and to get a broader understanding of how business should be managed.
University of Technology Sydney
Many young professionals, including IT professionals, are preparing for the GMAT exam to transition from their current employment circumstances. Many recent graduates of undergraduate programs are also preparing for these exams. Unlike many other degrees, a traditional MBA offers a broad understanding of various business disciplines. Specialized MBAs focus on specific areas such as finance, marketing, or healthcare management, providing targeted coursework and skills relevant to those industries. Although an MBA degree has several sub-disciplines, its main goal is to provide you with a thorough understanding of business skills and disciplines. It comes with the ultimate goal of advancing your career in your line of work.
Statistics show that practically every student enrolled in the best business schools in the world who pursues an MBA succeeds remarkably well.
Over 98% of Wharton MBA graduates are offered jobs and nearly 94% accept job offers at graduation. In addition to a wider range of job opportunities and increased earning potential.
An MBA degree is a gateway for students who are changing careers after earning graduate degrees. This is because it provides access to a larger and more robust professional network, better career opportunities, and—most importantly—higher salaries. However, one must understand what an MBA degree is before diving into preparing for it.
“If you’re looking to make a career pivot, an MBA may help you face that challenge with open eyes. Business school is a great time to gain exposure to peers, faculty, and a network of alumni from many professional backgrounds — as well as class projects and case studies that dive deeply into different industries and sectors.”
– Liza Kirkpatrick, Assistant Dean of Career Services at the Kellogg School of Management
With an MBA, students reach an enhanced level of confidence in their marketability and the depth of knowledge they can bring to the table. They also receive an increased awareness of the global market.
Around 250,000 students are enrolled in MBA programs around the world.
– Association to Advance Collegiate Schools of Business
One must also remember that the full impact of an MBA can take many years, depending on your potential and access to opportunities. Therefore, being in it for the wrong reasons may leave you with negative emotions. Given that an MBA is a significant investment in terms of time, money, and effort, it is recommended that you think thoroughly through how you fit into this equation.
At Oneiro Education, we strongly advise carefully examining your professional path to determine whether or not getting an MBA would advance your career. We hope fortune favors you!
