Is an MBA Degree Worth it in 2022?
Choosing to study after you acquire your bachelor’s degree requires substantial investment. You must prepare for another round of learning, researching, and dedicating your energy for another two years.
But unlike an undergraduate degree, postgraduate degrees like MBA are incredibly hands-on, requiring you to network, complete internships, and create projects while you balance your classes.
Despite this, there was a time when MBA was the most sought-after course in the US among graduating students. As a result, this country has the most prominent MBA market in the world, with over 120,000 students pursuing the degree annually.
But does this fact still hold today?
After witnessing multiple technological advancements, a shift in education models from traditional schools to online classes, and more demand for skill-based candidates than degree-oriented ones, should you still go after an MBA?
The following will answer your question:
The MBA Degree Evolves with Time
MBA has a track record of being a highly flexible and adaptable degree. The curriculum follows the latest technological advancements and replaces conventional learning with actual case studies. As a result, you learn about the global consumer market using real-life examples instead of hypothetical situations.
You can also enroll for an MBA through online platforms and get the same quality of education as you would if you went back to grad school. Signing up for MBA programs online is a straightforward process, but the perks of opting for a virtual classroom over a physical one are endless.
You get to enjoy the benefit of learning with a flexible schedule, self-pace your goals and complete your degree with far more understanding of the consumer market than you originally started.
An MBA will also walk you through a broad spectrum of concepts, including healthcare leadership, where you explore healthcare management and investments within this sector as potential business opportunities. You will also go through information management technology to understand the use of AI, big data, machine learning, and data analytics in bridging the gap between consumers and corporations.
The more changes the world goes through, the more this degree will align itself with these shifts.
A Chance To Expand Your Professional Network
Networking is an integral part of any sector. It gives you a chance to work with the industry’s finest talent and learn how to build an enterprise of your own. In the business world, a strong network will also connect you with many prominent figureheads, which is an excellent way to gain exposure and experience.
According to the Graduate Admission Council (GMAC), more than 90% of MBA graduates state that attending business school helped them build connections, opening up new job opportunities.
An Increment in Jobs
One of the reasons why anyone would pursue a postgraduate degree is to get access to better working opportunities. No one likes getting stuck in a dead-end career, but it’s pivotal you pick a sector that has the space to grow.
MBA is one such degree
According to GMAC, more than 70% of MBA students are intrigued by this degree to expand their professional portfolio, and the results prove fruitful. More than 85% of MBA graduates get excellent job offers within three months of completing their program, reflecting its scope.
A Broad Spectrum of Industries To Choose From
An MBA degree allows you to work in any sector of your choosing. You don’t necessarily have to work in the corporate sector for major corporations.
Try your hand at teaching international business, become a marketing expert, a medical service manager, or a financial advisor. With your MBA degree, you can also try your luck with a nontraditional field like government and public service.
High Earning Potential
You have a better chance of earning significantly than those pursuing other postgraduate degrees. An MBA degree exposes you to professional opportunities which result in excellent salaries and quick promotions. The GMAC reports stated that MBA graduates could easily make almost six figures annually compared to other careers that pay only five figures salaries to their fresh recruits.
Your starting salary will be pretty impressive, which can be a source of encouragement for you. Your MBA degree also puts you in an advantageous position, with more than 54% of employers already eager to take you in because of your educational qualifications. So if you’re looking for a way to make good money quickly, getting an MBA is the way to go.
Stronger Transferable Skills
MBA degrees are a perfect blend of soft skills mixed with business knowledge. While studying the global consumer market, your coursework will also help you build solid and soft skills. These include your attention to detail, communication, presentation skills, and leadership qualities.
Consequently, you emerge as a more new and refined version of yourself once you graduate. Excellent soft skills are a selling point of a good businessperson. Unless you know how to market yourself and your company, it doesn’t matter how attractive your enterprise is.
Interpersonal skills are transferable. How you think, speak and communicate can be used in many fields and sectors. So whether you want to encourage investors to work with you, convince an employee to work for you, or secure business funds, the core competency skills you obtain are your biggest asset.
Immense Job Security
COVID has left the world staggering and more turbulent than ever. Numerous people lost their jobs and, to date, are still struggling to find suitable employment opportunities.
But, you can enjoy adequate job security by having a background in an immersive and highly flexible degree like an MBA. No matter what sector you join, you will continue being a valuable member of the team and an indispensable employee. YourYour skills, knowledge, and connections within the industry can make you hard to let go of.
Educational degrees are an investment for your future. The type of qualification you pick can hold a certain level of influence on your future careers. So if you have the opportunity to build a solid profession for yourself, don’t let it slide.
If you have to choose between pursuing an MBA or trying your luck elsewhere, it’s best to stick with the former. An MBA is a very flexible and high-value degree that exposes you to various careers, offers you a chance to earn well, and gives you immense job security.
The curriculum also fits the modern world, preparing you for today’s consumer market. Your willingness to invest your time into this postgraduate will also help you build a substantial networking channel, work on your soft skills and get a competitive edge over other sectors.