A professional business degree or MBA can bring you unexpected and expected benefits. These benefits can be applied to other areas of your life, as well as your professional career.
These 14 reasons are why an MBA is a good choice for anyone who is weighing the costs and benefits of pursuing an MBA. Some of these might surprise you.
1. Increased self-confidence
One study examined the perceptions of MBA graduates regarding their perceptions of the financial and non-financial benefits and costs associated with their professional degrees. Surprisingly the most important nonfinancial benefit of an MBA degree was increased confidence.
This degree will give you the confidence to succeed in business and life. This degree will give you a tremendous sense of satisfaction and personal accomplishment.
There are many ways to establish credibility within your company and your industry. Volunteering for work could be a way to stretch yourself beyond your comfort level and show off your talents to the company’s management. To establish your early credibility as an entrepreneur, you could start a side business on your own or with friends and family. The MBA degree is the academic equivalent of street cred in business.
3. Transferable skills
Many of the skills and knowledge gained from an MBA are applicable to many industries. Your industry and job title don’t matter as much as your skillset. You are more versatile and skilled because of the universally applicable qualities such as leadership, critical and analytical thinking and creativity. An MBA is a flexible degree that can be transferred to other industries, and which will allow you to pursue a variety of career options.
Read More: Executive MBA in Mumbai for Working Professionals and Entrepreneurs
MBA graduates are often driven by an insatiable curiosity. They are always looking for new knowledge and will continue to seek it out. The degree helps them to analyze competitive analysis, research emerging industries, and keep up with all the latest technologies and trends in their field. Albert Einstein wrote, “It’s important to never stop questioning.” Each curiosity has its own reason.
5. Strategic thinking
Your MBA program will teach you how to think strategically. These skills can be applied in business, but also in other areas of your life like your finances and personal goals. While you are working to solve a problem, you’ll be able to think outside of the box and consider multiple solutions or options.
6. Improved communication
MBA graduates are often better at communicating with their bosses, coworkers, and employees. These communication skills are also useful at home with your spouse, children, parents, siblings, and in social situations like networking events or company functions. It is important to be a better communicator in everyday life, regardless of where and when you communicate your ideas or needs.
You will need to go to classes, study, complete assignments on time, and work hard through complex coursework to earn your MBA degree. This requires self-discipline, which you might not be able to develop naturally. However, it is something that you can learn with effort and time as you work through the MBA program.
8. Better time management
One side effect of having better self-discipline can be the ability to manage your time better. This could be a better understanding of how you can produce work within a given time frame so that you don’t burn yourself out, overextend yourself or under-deliver. This could also refer to being more efficient at work so you can get more done in a shorter time and with less effort.
9. Broader worldview
Your MBA program focuses on big business issues and real-world business problems. This helps you to see the bigger picture and understand how organizations work. You will also be exposed to different perspectives on business, social, or global issues by working with students from different backgrounds and career goals.
10. Network of colleagues
You meet faculty, fellow students and alumni while earning your MBA. These contacts can help you to build or expand your existing network of colleagues. These people can be from your industry or not. They are often scattered around the globe, which can lead to exciting opportunities for the future.
11. Creativity Increases
Although the MBA coursework may seem to be based on numbers and facts, it often inspires creative thinking in MBA graduates. Business is as important as art and music, so it’s just as important to think outside the box.
12. There are more job opportunities
Many companies require or prefer applicants with an MBA to fill a variety of positions. This degree will allow you to access more job opportunities.
13. You have many options for career advancement
Sometimes, it can seem impossible to change careers and pursue a new career path, especially if you have worked in the same industry for a while. You might need new skills to jump-start your career transition.
14. Your earning potential grows
A recent study showed that the average MBA graduate’s pay was 50% higher than their position before earning their degree. These numbers show the financial benefits associated with an MBA but do not reflect the personal satisfaction gained from taking on more responsibility.
Posted in Education.