Master of Business Administration (MBA) is one of the most prestigious and sought-after graduate degrees in the world. For business people, the MBA is one of the most useful tools for taking advantage of the highly competitive global marketplace, allowing graduates to be highly adaptable in modern economies where career-switching and frequent change are often the norm and never the exception. Besides, an MBA can lead to a high-status position in management, immense marketability in the fast-paced and ever-evolving job market, and greater potential for a higher salary. Nevertheless, it is usually critical to find out what you can do with an MBA before you pursue the graduate degree. So, what can you do with an MBA?
1. Greater Employment Opportunities in the Business Sector
The most common area where your MBA will be relevant is the business sector. Thousands of MBA graduates usually find employment in corporations and existing businesses, while others get promoted to management positions due to their new-found expertise. In MBA programs, students learn about important business skills such as money management, marketing and sales, employee relations, customer service and leadership, which help MBA graduates to advance to upper management and executive-level positions in the business field. In fact, many corporate and business companies usually limit their search for upper-level managers and executives to individuals with MBA degrees, ensuring more employment and career advancement opportunities for those with the degree and the necessary experience.
2. Easier Career Advancement
Career advancement opportunities for those with MBA degrees are not limited to the business field alone. The MBA degree empowers graduates to be amazingly suitable for leadership and administrative positions in engineering, music, education, healthcare and other fields as they have the requisite management skills for helping a broad range of sectors to attain desired productivity. Besides, there has been a proliferation of new and exciting fields recently, such as information technology, brand management, mobile telecommunications and e-commerce, where MBA degree holders can easily be absorbed. Therefore a master of business administration is useful for career mobility and career growth in a broad range of fields.
3. Greater Earning Potential
While there is no total guarantee that a master of business administration will help you to earn a higher salary, the MBA will boost your potential for better pay in any field. With the average annual salary for MBA degree holders at $100,000, completing the graduate degree will most likely improve your earnings from the bachelor’s degree salary to a higher compensation. In fact, some MBA graduates usually earn starting salaries of $134,000 or more, affirming the fact that an MBA degree has the potential to improve an individual’s earning.
4. Starting and Running a Successful Business
An MBA degree can give you the requisite expertise to launch and run a high-growth business. Most MBAs provide training in entrepreneurship, accounting, information technology, money management, people management and strategic planning, enabling graduates to be effectively prepared to overcome the obstacles of starting their own successful businesses. Indeed, with an MBA degree, the graduate will be aptly prepared to handle almost everything related to starting a new business, from crafting a winning business plan and acquiring venture capital to launching IPOs.
5. More Networking Resources and Job Security
Business education in graduate school usually encourages teamwork and robust relationships. Therefore, over the duration of MBA education, students develop vital relationships that can serve them well during their careers. Moreover, regardless of the school, the student will easily be plugged into an effective network of alumni that work at a broad range of companies. As a result, the MBA students gain invaluable access to crucial mentoring, professional contacts and job search networks. Similarly, since MBA graduates are employable in any job market, your MBA will accord you the opportunities you need to launch, grow and secure your career.