An MBA is a master’s degree in Business Administration. Given that choosing to study this degree is a serious financial commitment for those aspiring to be business owners of global proportion, the question often arises: is it worth it? Is it worth the financial commitment and time commitment? In the competitive business world that we find ourselves in, obtaining this degree level is an added advantage, especially if the degree is from a reputable business school. The purpose of this article is to open your eyes and mind to the advantages of getting an MBA. Read on!
Skill acquisition
Studying a master’s degree in business administration helps you to develop great managerial skills. It arms you for the business world, clearly preparing you for the demands, requirements and rigors of the business world. The curriculum guides students and breaks down the factors on which a company is dependent to be able to function properly.
You will be well taught how to manufacture, advertise and sell your products. Furthermore, you will be prepared and informed on how to manage business funds and maintain the image of the company. Basic ideas on how to identify great employees capable of influencing the company and how to keep them motivated are taught in the course of study.
Better job opportunities
Studying this degree opens doors to high-level job positions. It gives a great opportunity to get high-level positions in a managerial job. Most MBA graduates are senior managerial officers in companies all around the world. These positions come with good salary; the average salary earned by this graduate is higher than the earned by an ordinary master’s degree holder. Nonetheless, it’s true that these jobs come with more responsibilities and more working hours.
Increased Market Value
An MBA increases your market worth. Amidst business people, it increases your credibility and confers respect on you, independent of wherever you are around the world. Graduates of this degree are appealing to every company they come across. Also, it’s quite versatile, so it allows you to function in any company and makes it easier to advance to better positions and high-paying jobs.
Starting your own business
Starting your own business is a herculean task and if not adequately prepared for its demands, the business may collapse. It happens all too frequently and that’s why many decide to prepare themselves for the challenge.
A master’s degree in business administration prepares you to undertake your own business. It gives you the insight needed to start a business and to stay in business. It teaches even the assumed little things, like how to write a CV and how to prepare a business plan. Research has made it known that failure rate for businesses started by holders of this degree is reduced by 50 percent.
A master’s degree in business administration helps you build a network of important relationships which may be pivotal to your business career. Also, being part of a network of alumni of important MBA holders working in different companies and holding substantial positions in those companies can be useful for securing a good job.