A lot of people don’t believe in going to college, much less getting a master’s degree. And understandably so as tuition fees can easily empty a bank account. The opportunity cost is that one can make much more money instead of going through with their educational journey. Many also believe that finishing high school is enough. All one might need is a set of skills people are willing to pay for to get something done.
But whatever the perspective is, it wouldn’t hurt to have impressive credentials tied to your name. Imagine if your resume had a “Master’s in Business Administration” under the education category. You would instantly become a more attractive applicant. A master’s degree in business administration (MBA) can give you that promotion you’ve been gunning for over the last year. It gives you a different view when approaching business endeavors, among many other perks.
So if you haven’t decided on what you want to do in life yet, why not consider getting an MBA? There is absolutely nothing wrong with wanting an overall better career.
An MBA Opens up Various Career Opportunities
This highly coveted achievement encompasses several fields. With an MBA, one can work as an investment banker for the biggest financial institutions, including Morgan Stanley, Goldman Sachs, or even Citibank, by having experience in raising money for corporations, firms, and other huge establishments.
Since the MBA is big on management, a graduate of the program can handle a company’s human resource department. This job is all about conducting interviews with applicants, distributing salaries, ramping up employee productivity, fulfilling employee satisfaction, and developing company policies.
One can also become a marketing manager. The MBA program might have you deal with a lot of numbers, but it also teaches the best marketing strategies that would generate profit. A marketing manager is responsible for making the products of a company more visible to possible customers.
Big companies like Coca-Cola and Apple probably have the best marketing people in the world. Their sales rarely tank, and an MBA graduate with enough experience in brand awareness can work for these big companies.
A new graduate will most likely start from the bottom, but the edge is already there. All one has to do is work a little harder than their colleagues, and promotion will surely just be waiting right around the corner. It may be hard to achieve, but it is possible. An MBA graduate has relatively higher chances of getting that chief executive officer (CEO) position.
A CEO is like your boss’ boss. He is above all the managers and is given the task of introducing and representing the company to the public and other people of authority. A CEO fulfills the company’s mission and vision which is a demanding responsibility, but the salary will not be of concern most of the time. To get his job, it is a must that one has leadership and management skills.
The Salary Is Much Higher Than Other Degrees
According to an article by the U.S. News & World Report, people with an MBA from Stanford University make around 176,000 USD a year. This is much more than the median salary of 92,800 USD in the country.
An MBA Can Help You Start Your Own Business
With all that knowledge you learned from the two years of studying, starting your own business will come much easier. You already have a great idea of how things work. You know what to do and what not to do.
Also, all the people with whom you have developed great relationships during your time in business school can prove to be significant in your setting up a business.
Establishing the goals, targets, and objectives may not even be that big of a problem anymore.
MBA Changes the Way You Approach Situations
After graduating and putting in the work, one could see a difference in the way they think. Their thought process somehow has become more critical. Solving problems with limited information is more enjoyable for some reason.
One may even notice that their decision-making skills have improved significantly. Buying a car or renting an apartment somehow is now more tedious due to the many considerations.
An MBA Is Usually Expensive but Is Totally Worth It
Yes, the student loans will pile up and will have you struggling to pay them. However, the average signing bonus for an MBA graduate is around 30,000 USD. In just a little over two years, that debt can be paid off.
If you want a prestigious career, then getting into an MBA program and finishing should be a huge consideration. Not only that, the program might even land you a job at a Wall Street firm, and you know very well how much those people make in a year.