5 Reasons Why the MBA Is Still Relevant - CareerAlley

5 Reasons Why the MBA Is Still Relevant - CareerAlley We may receive compensation when you click on links to products from our partners. A lot of people tend to play down the importance of an MBA in an increasingly high-tech world or because of the sheer number of people who hold them. Others are told you cannot advance in your career without earning an advanced degree like an MBA. The truth is somewhere in the middle. Lets look at five reasons why the MBA is still relevant. source You Truly Learn Management Skills An MBA is one way to learn management skills. Better yet, an MBA teaches you how to make rational, data-driven business decisions, how to mitigate risk and assess all of your options. This helps you avoid drifting along a comfortable path until youre shocked by the change. Depending on the MBA program and coursework you take, you could learn about hiring and motivating employees or general financial management. The Personal MBA: Master the Art of Business Price: $14.39 Getting an MBA is an expensive choice-one almost impossible to justify regardless of the state of the economy. Josh Kaufman founded PersonalMBA.com as an alternative to the business school boondoggle. Buy Now from Amazon We earn a commission if you click this link and make a purchase at no additional cost to you. Last Updated: March 2, 2020 Youll also learn how to become a better leader and get the best out of your employees. Leadership is not something that all of us were born with and isnt something that can be easily picked up. But most MBA programs will have modules dedicated specifically to leadership and how to develop it. An MBA is one way to learn management skills. Better yet, an MBA teaches you how to make rational, data-driven business decisions, how to mitigate risk and assess all of your options. Tweet This A good MBA program will emphasize leadership by taking you through a variety of practical and theoretical modules designed to give you a genuine C-suite experience. Young professionals dont often have the chance to make important executive decisions or implement strategies. With an MBA program, youll get to see exactly how it feels to be part of senior management and will be exposed to some of the problems that are relevant to different industries. Youll then have to work on how to address these problems and solve them. Youll also be able to see first-hand what the consequences of your decisions are and how one simple decision could affect the whole future of a company. Youll get to experience the kind of pressure and responsibilities administrators have to deal with on a regular basis. Being a leader is not just about you, but the team surrounding you as well. Youll be able to learn how to gauge the strengths and weaknesses of your team members and how to work and navigate through different personality types as well. Youll also learn how to defuse and prevent conflict and how to boost employee engagement and morale. source You Enhance Your Soft Skills In an increasingly high-tech world, employers are desperately seeking those with strong soft skills. In addition to leadership, some of the most in-demand soft skills include things like collaboration and communication for instance. Youll develop these competencies in any MBA program. Listing an MBA on your resume demonstrates that you have these desirable skills. The MBA is a widely recognized credential in any case. These skills can help you when you start your own business, as well. Furthermore, when you approach potential partners and investors, an MBA shows that you are a more serious candidate than someone with an abstract idea and a vague business plan. The Networking Benefits Are Immeasurable As an MBA student, youll see incredible networking opportunities. Your fellow students may become your future employees or employers. Your professors and the other teaching staff are excellent resources while youre in school and can provide professional references later on. Alumni are another source of connections. Depending on the MBA program, you may be able to land a good internship through the school that leads to the job youve always wanted. Depending on the program you attend, you may be able to leverage the MBA into an international job or use it to prove youre qualified to work in international business. Or youll simply benefit from the broad, multidisciplinary connections youve made. source It Has a Good Average Return on the Investment According to this article by Jack Welch MBA, roughly 40% of people who decided not to enroll in an MBA program stated cost as the main reason they didnt enroll, while another fifth declined because of the time commitment. One of the online MBA benefits is the ability to take classes from home or wherever else you can connect to the digital classroom; it may save you time, too, since you dont have to drive to campus to attend class. The same survey found that there is a decent return on investment for the time and effort. Of those who enrolled in a top-ranked online MBA program, two-fifths said theyd do it again because their increased earnings made the cost of the program worth it. Theres no doubt that earning an MBA can give your career a boost. Research shows that a graduate degree in business can increase your earnings potential by 50 percent or more, and many employers will only consider candidates with an MBA or similar degree. How to Add Value to Your Resume With Your MBA Over three-quarters of MBA graduates said they earned more pay or received a promotion almost certain to lead to higher pay. For those who earned an online MBA, more than four-fifths received a raise or promotion, or both. This isnt surprising since more than half of MBA grads are managers or board directors. Other sources have found that the average salary for an MBA grad is much higher than those who hold any other masters degree twice as much as theyd earn with the average bachelors degree. Youll Learn Cross-Disciplinary Skills You can say youre a proven problem-solver, but an MBA proves that youve learned how to analyze a variety of problems, think critically, and find solutions. Youll have been trained using a variety of case studies and real-world scenarios. Youll be able to move into any management position, study and solve problems, cultivate human resources and identify opportunities. An MBA may prepare you to move into management at your current company, or it can open the door to moving into management almost anywhere else. It certainly prepares you to move into any high-level position, insulating you against business cycle shocks. Youll be ready to start your own business, take on any role at another firm or move into another department at your current employer because your leadership and soft skills are transferable. A good MBA program teaches you the skills that the workplace still requires at all levels, but these skills remain essential at the upper echelons. An MBA proves that you hold these skills and are capable of filling almost any position. Your MBA Game Plan, Third Edition: Proven Strategies for Getting Into the Top Business Schools Price: $17.99 Buy Now from Amazon We earn a commission if you click this link and make a purchase at no additional cost to you. Last Updated: March 2, 2020 What's next? Ready to take action? Choose the right tools to help you build your career. Looking for related topics? Find out how to launch your career. Subscribe and make meaningful progress on your career. It’s about time you focused on your career. Get Educated Contact Us Advertise Copyright 2020 CareerAlley. All Rights Reserved. Privacy Policy + Disclosure home popular resources subscribe search