Is an MBA Worth It? 11 Benefits of Getting an MBA

Published on: January 3, 2022

Few graduate degrees are as iconic as the Master of Business Administration. The MBA has been the driving force behind many of today's most noteworthy success stories. It promises to spearhead major professional progress as well as equally valuable personal development.

Challenges MBA Students Face

With all these advantages, unfortunately, come several noteworthy challenges. Potential MBA students are often already occupied with busy careers, not to mention relationships, parenting or hobbies. With so much to handle, some are reluctant to take on the additional commitment of a graduate education — especially a program as famously rigorous as the MBA.

This hesitation is understandable, but the very challenges that give some pause are exactly what allow others to thrive. The MBA has a way of preparing students for the greatest obstacles of the business world while also giving them the knowledge, skills and resources they need to succeed.

Benefits of Earning an MBA

The right person — at the right time and with the right mindset — can benefit greatly from seeking an MBA degree. Ultimately, it's all about weighing costs and benefits. Yes, seeking an MBA is tough — but the downsides of not obtaining this valuable degree could be far greater. To that end, we've highlighted some of the most noteworthy benefits of getting an MBA below:

Gain Advanced Business Skills and Knowledge

The business sector may be evolving at a staggering pace, but there's still value in studying the foundational concepts that underscore commercial success. While these insights can sometimes be gained through experience alone, it may take years in the workforce to acquire the knowledge that can be gained through lectures and study sessions. As tough as this degree program may seem, it actually provides a major shortcut compared to the school of hard knocks.

Not only does an MBA deliver core knowledge quickly, it produces targeted insights on the exact concepts students need to make their mark in the business world. Without this curated approach, it can be difficult for busy professionals to know what to study or how to acquire critical skills. Through focused coursework and hands-on application, students gain a greater understanding of:

• Business analytics
• Financial management
• Marketing management
• Managerial accounting
• Crisis management
• Global strategic management

In addition to covering foundational concepts, MBA students have the opportunity to delve into specific applications based on their personal interests or career goals. Typically, this depth of study is found within high-level degree concentrations, which might cover anything from organizational management to innovation & entrepreneurship.

Many concentrations focus on how business administration functions within a specific industry. For example, those who want to make waves in tourism may benefit from the high-level knowledge that an MBA with a concentration in hospitality management can provide. Meanwhile, an MBA with a concentration in athletic administration may appeal to those hoping to excel in the management components of intercollegiate athletics or professional sports organizations.

Greater Awareness of a Global Market

Across all concentrations, MBA programs encourage students to adopt a global mindset. This is key as the business world evolves. Increasingly, professionals at all levels need to work closely with cohorts from around the world. The multicultural understanding and competency they gained through grad school can be invaluable in building strong global connections.

Improved Communication Skills

Exceptional communication skills are critical to success in today's job market. No matter how talented or knowledgeable business professionals may seem, they will be unable to make their mark if they cannot succinctly communicate their ideas.

MBA programs help students develop business-oriented written and verbal-communication skills so they can more effectively interact with clients, vendors and fellow professionals. Public speaking, in particular, is a major point of emphasis, with MBA students learning to speak confidently in the boardroom, at conferences and during high-stakes negotiations.

Through a variety of hands-on experiences, MBA students practice and hone their verbal skills. Their written work assignments ensure they master text-based business communications.

Better Time Management

Exceptional time management is imperative in today's fast-paced market. High-level business professionals find themselves constantly juggling multiple projects on strict deadlines. Nothing prepares them for this whirlwind quite like a rigorous MBA program — especially when combined with full-time work. MBA students learn how to work smarter — not just harder — so they can optimize their valuable time and make the most of every minute.

Collaboration and Teamwork

Communication and synergy are just two of many qualities that enable effective collaboration. Professionals must also be adept at conflict resolution while continually displaying empathy and emotional intelligence. MBA programs show them first-hand what effective teamwork looks like — and how underperforming teams can be improved. Through discussions and projects, students can put their theoretical understanding of effective collaboration into practice. 

Expand Professional Network

As a future business leader, you're only as strong as your professional network. Building a solid network can take years, but an MBA program provides both swift and enduring connections that will prove valuable far into the future. MBA students work closely with some of the business world's most inspiring and influential individuals — both instructors and fellow students.

Many professionals find that years — even decades — after graduation, they are able to call on their business school contacts for help or insight. Often, the connections they've formed in grad school are instrumental in helping them score highly esteemed positions with the most respected enterprises. Even when they're not leveraging these connections for purposes related to career advancement, MBA grads find great comfort in keeping up with fellow students, many of whom become lifelong friends.

Increased Job Opportunities

A wealth of job opportunities become available as soon as students graduate with their MBA. This remains one of the most respected academic credentials in the business world and is often the top barrier to entry for middle management and upper-level positions. With other jobs, an MBA might not be outright required — but it can give applicants a significant edge over competitors who lack such esteemed graduate credentials.

While connections gained in grad school can help job candidates get their foot in the door, the degree itself can make a world of difference even when key contacts are unavailable. The credential carries weight all on its own. This is verified by a survey from the Graduate Management Admission Council (GMAC), which reveals that 87 percent of business-school graduates feel that their degree improves their employability.

Once they've scored their dream roles, many MBA graduates also find that their high-level education grants them impressive job security. In times of economic uncertainty, professionals equipped with their MBA feel more confident they'll remain employed.

Increased Earning Potential

While compensation largely depends on specialty and years of experience, it is typical for those with an MBA to exceed six figures. Some find that merely being enrolled in an MBA program boosts their salaries, which then skyrocket upon graduation.

A survey from GMAC found that MBA students who graduated in 2020 earned starting salaries of approximately $115,000. Upon graduation, some students even doubled their income.

Vantage Point MBA Admissions Consulting confounder Melody Jones tells Fortune that the huge post-graduation boost to income is made possible, in part, by major corporations competing for talent. In an effort to court recent MBA grads, many offer "attractive compensation packages" because "that talent is worth a lot."

Benefits of an MBA to an Employer

If these advantages are any indication, an MBA is indispensable to any business professional looking to move up the career ladder. At the enterprise level, however, MBAs are even more valuable.

Employers are eager to work with MBA graduates, in part, because these programs provide rigorous training to help professionals handle a wide array of workplace challenges. Examples include:

• Exceptional soft skills. While employers appreciate technical acumen, many struggle to find job candidates with sufficiently developed soft skills such as communication, emotional intelligence or collaboration. These qualities are vital to success but they can be difficult to verify among a diverse array of applicants. Because today's MBA programs place such a premium on soft skills, employers can be confident in knowing that these qualities will be fully developed by the time students graduate.
• Commitment. It takes serious drive to complete an MBA program. As such, the MBA provides a helpful vetting system to determine which professionals are truly committed to their careers. Employers assume that those who are capable of earning their MBA can also accomplish great things once they enter mid and upper-level career tracks.
• Adaptability. Experience matters, of course, but it doesn't automatically demonstrate that a potential employee can adapt to new challenges or circumstances. MBA programs, however, prepare students to shift their mindset and their approach according to the situation at hand. This adaptability makes them effective problem-solvers — and a huge asset to the enterprises that employ them.

Conclusion: Is an MBA Worth It?

From improved job skills to opportunities for promotion and increased pay, MBA programs provide a variety of significant advantages that ambitious professionals will want to consider. While it takes a lot of commitment and determination to succeed while pursuing an MBA degree, the payoff can be life changing.

Ready to enjoy the personal and professional benefits that only an MBA can deliver? Husson University makes this esteemed degree attainable with our MBA program. Contact us today to learn more about our MBA degree opportunities — and to take the first step towards transforming your career.

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