5 Very Good Reasons to Do an MBA Degree

 

1- Develop advanced and flexible management skills

         MBA applicants are usually young businesspeople with a minimum of two years of professional experience. Even senior employees who feel up to the challenge may sometimes apply.

        MBA classes will help you develop the skills necessary to keep a company successful. The curriculum of each Master of Business Administration degree can be different, but these are some of the most common competencies you’ll develop depending on the study program you choose:

• Improve leadership and people management skills
• Develop, advertise and sell your products and services
• Network and create connections or partnerships
• Manage difficult situations (e.g. financial crisis, public scandals)
• Keep the company's finances healthy
• Promote and maintain the company’s positive image
• Gather, interpret, and create reports based on industry data
• Hire top talent and improve employee retention
• Create hierarchies that help the company thrive
• Make tough calls at the right time

        Studying an MBA degree forces you to get out of your comfort zone. You'll explore the latest International Business trends, apply the newest management tools and techniques, and challenge yourself to improve your business, teams, and collaboration.

        An MBA is also a great way to prepare for a changing business environment. The abilities you develop are also the best tools you have to adapt to the unavoidable change of industries, the marketplace, and the ways people do business.

        If you plan to change careers, but the industry evolves in a way that messes with your plans, the skills you’ve developed will help you quickly adapt and find a new direction. You’ll also be able to make use of changes in the economy and find new business opportunities where others simply try to survive a harsh business environment.

2- A lot of MBA specializations to fit your exact goals

        Because of their international popularity, many universities and business schools have developed a diverse range of MBA programs, specializing in different aspects of the business world. So, what MBA specializations can you choose from? What’s the difference between them? And which MBA subjects are in highest demand?

• General Management – Probably the most popular MBA specialization. Great for developing an all-around effective business arsenal – great for a very versatile business environment.
• International Business – Great if you want to work abroad, or work in a global company with offices in different locations. Great for aligning business goals across borders. As global businesses are growing, this too is an all-around popular specialization.
• Strategic Management – Prepares you for long-term business planning and backup planning.
• Finance – Great for bankers, financial controllers, chief financial officers, and finance managers. Courses will focus on Statistics, Data Analysis, Accounting, and more. 
• Marketing – Focuses on businesses that rely on promoting products and services.
• Entrepreneurship – Best if you have an original business idea and think about launching a start-up.
• Operations Management – Ideal for managers in charge of optimizing production processes. You’ll learn how to run production as efficiently as possible.
• IT Management – Prepares you to do business in the technology sector or do business that heavily relies on technology. This side of business relies heavily on the analysis of collected data and product development based on it.
• Human Resources – Great to learn for managers in charge of HR teams or working with large groups of employees. Focuses on conflict resolution, team development, motivation, defining job responsibilities, and more. You can’t go wrong with this one if you’re a people person, as companies will always need good and happy employees.
• Consulting – prepares experts ready to offer an outside opinion for challenges faced by companies. This specialization also develops your expertise in a variety of sectors and is very well paid.
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3- Start your own company from scratch

Many students choose an MBA because they want to become entrepreneurs and learn how to start and grow a business. They have a big dream and want to know how to turn it into reality. Here’s why an MBA can help you become a successful entrepreneur:

MBA professors with real-life experience in starting a business can tell you the major traps you need to avoid and what you should do to make sure your company grows and remains stable over time.

You can find MBA colleagues who have similar interests. Share your ideas with them and see if you can form a common vision. It’s easier to succeed with your start-up if you have a reliable partner who has your back and vice versa.

You’ll learn how to communicate effectively and why it is essential for the success of any organization. Whether you’re negotiating a contract with the suppliers or explaining your vision to prospective investors, knowing how to express your ideas clearly can make the difference between winning or losing the support and attention of your audience.

4- MBAs are great for a career change and thriving business opportunities

Many students take MBAs to either change the industry they’re working in or advance to a managerial or administrative position. You shouldn’t do both at once, as it’s possible to spread too thin – not having the work experience in the new position to back it up. Approximately 1 in 3 prospective MBA students use their management education to pursue opportunities in new industries or job functions they have not worked in.

It’s a good idea to decide on the industry and job you plan to follow before applying to the MBA. This way, it will be easier to pick the best MBA for your needs and have clear future goals that weigh heavily during your application interview. Also, you’ll have 2 years to develop the exact skills you need for the new job.

The versatility and diversity of MBA program specializations are a great support for those preparing for a career switch.

Graduates of part-time or full-time MBA programs have higher chances of holding a high-level management position and enjoying successful MBA careers. Over 50% of MBA graduates worldwide are senior managers or board directors. This type of positions brings a higher salary, but also greater responsibilities.

Here are some of the largest companies in the world that hire MBA graduates:

• Amazon
• Apple
• Bain & Company
• The Boston Consulting Group (BCG)
• Citigroup
• Facebook
• Goldman Sachs
• JP Morgan
• McKinsey & Company
• Microsoft
• Walt Disney

5- MBA salaries are some of the highest on the job market

Among the benefits of an MBA degree, job security and high salary are some of the most important. The average income for an MBA graduate is much higher than an employee's with a regular Master's. You can expect to earn twice as much as what you would get from a regular university degree.

If you’re wondering what you can do with an MBA degree or what MBA jobs are available, here are some popular career choices: business operations manager, management analyst, market research analyst, top executive, HR manager, etc.

Average salaries for MBA graduates

According to the QS Jobs & Salary Report, these are some of the average MBA annual salaries in the world:

• In the US – 102,100 USD/year
• In Canada – 99,800 USD/year
• In Australia – 98,400 USD/year
• In Singapore – 82,700 USD/year
• In the UK – 92,400 USD/year
• In Switzerland – 123,500 USD/year
• In Germany – 77,200 USD/year
• In France – 98,500 USD/year
• In Italy – 86,400 USD/year