Investing in your future is a smart move. A Master of Business Administration degree can help you take on leadership roles and increase your chances of climbing the corporate ladder. MBA courses focus on skills that enable you to make corporate decisions and inspire others.MBA programs are still a central part of business leaders’ thinking. They recognize that high-level strategic and interpersonal skills are equally important. MBA students are required to take courses that cover all aspects and then have the option to concentrate on specific industries or topics.You may be considering an MBA if you are interested in a leadership role. It is particularly fascinating to see that, besides the obvious benefits of a business degree, there may be other benefits that could have a similar impact on your career. You can make an informed decision about whether you want to pursue an MBA by learning both the obvious and hidden benefits.
What are the primary advantages of having an MBA?
Before we get into the secrets of the MBA’s hidden benefits, let’s review the essential facts about these degrees. These advantages, taken together, are why the MBA is a standard credential for hiring managers who screen candidates for decision-making positions in corporate companies.MBA graduates are often eligible for various jobs, all of which are related to corporate leadership at all levels. PayScale reports that these positions include senior financial analyst, project manager, human resources manager, and C-suite positions such as chief financial officer. Hiring managers might consider candidates with a business administration degree to help them find the right person to lead their team. They will demonstrate a combination of soft skills and decision-making abilities.An MBA degree can open up more career opportunities and increase your earning potential. According to the National Association of Colleges and Employers, the average salary of MBA graduates in 2020 will be $79,043 — roughly $20,000 more than for graduates with a bachelor’s degree in business. Managers looking to hire high-salaried employees with the potential to advance are seeking candidates who have demonstrated their dedication and skills in management. This distinction can be earned by completing an MBA program.
MBA graduates might have better job prospects in difficult times, such as when the market is tight. According to the Financial Times, 2020 graduates who had completed their MBAs found the environment more welcoming than those with undergraduate degrees during the first wave of the COVID-19 pandemic. Many large employers, such as Amazon and Google, hire business school students. This trend did not change in the difficult-hit economy.
An MBA can help you get a job that offers high-level opportunities and the potential for higher earning. It also gives you greater security in your important positions. These are all compelling reasons to consider enrolling in an MBA program. However, there are other benefits. These benefits are subtler, but they can positively impact your business’s trajectory.
What are the Hidden Benefits of Getting an MBA?
An MBA degree can lead to career advancement, job security, higher salary, and other benefits. But there are more hidden benefits that you should consider. An MBA program can allow you to gain valuable experience and knowledge that will help you pursue your career. Students will emerge as skilled and well-rounded professionals from the best business schools. This type of education is beyond what you learn in the core classes.
These are five lesser-known but equally important benefits of earning an MBA.
Grow Your Professional NetworkYou will be able to work with other students in your MBA program, and you will have many networking opportunities to meet professionals. It is possible to make meaningful connections with many people who will help you understand the business world.
- Students: Once you have chosen your MBA concentration, you’ll be surrounded by peers who share the same goals and have similar experiences. Collaborations with classmates and discussions are great opportunities to connect and share your knowledge. MBA students can help you get the most out of your master’s program.
- MBA Program Instructors: MBA program instructors are experts in their field and challenge their students’ leadership potential. Sometimes, this means that students are forced to step outside their comfort zone and put in situations that test their ability to adapt. Your instructors are your mentors, and they want you to succeed. Your relationship with your instructors can be valuable beyond the classroom.
- Professionals, You’ll have many networking opportunities during and after your program with professionals in your field. Ask them for advice or questions because this could be the beginning of a long-lasting professional relationship.
- Alumni: Once you have earned your MBA, you will always be connected with an alumni network sharing everyday experiences. This alumni network can assist you in finding new opportunities after you have graduated and advanced in your career.
- Get an international perspective.
Business borders are not an obstacle to success, and the perspective and connections you gain from MBA classmates are invaluable in today’s globalized business world. Many online MBA programs focus on international markets through books and discussions. However, the Carson College of Business offers a comprehensive MBA program that will help you explore global markets firsthand.
An international field study will give you the skills and confidence to travel worldwide in your career. You can also earn credits towards graduation. It is possible to connect with business professionals from different countries gain insight into their lives, cultures, and perspectives.
Consider attending conferences and networking events to increase your global knowledge beyond your MBA program. In preparation for your career, you might be able to learn more about business issues around the globe.
- Cultivate Transferable Skills
According to Indeed, transferable skills can be used by employees in a variety of jobs and industries. An MBA program can help you improve your hard and soft skills.
These soft skills are highly sought-after through collaboration and discussions with your cohort.
- Emotional intelligence
MBA students will complete relevant and practical assignments to help them develop the hard skills they desire.
- Analytical reasoning
- Network security
- Programming languages
- Management of projects
- SEO/SEM Marketing
These transferable skills are essential if you want to change your career and pursue an MBA. These skills can be highlighted on resumes or during interviews.
The concentration of your MBA may impact which skills you should cultivate. A career in finance requires a lot of accounting skills, while a marketer might be more skilled with search engine optimization. An MBA program will help you develop the interpersonal and technical skills necessary for every job, as well as those specific to your area of concentration.
- Real-World Case Studies Offer Benefits
One of the most appealing elements of a well-designed MBA program is the interplay between lectures and independent study. This allows for case studies and examples based on the real business world. Business leaders and connections can give insight into how these situations have played out over the past and help you and your classmates develop real solutions to real problems.
You can’t learn enough to solve a problem by studying theory. By doing these projects and exercises, you will better understand what it takes for a leader in business. These examples work best when they are current, and this allows you to see what tactics are most effective today and what tools are available to decision-makers at all levels.
At the end of an MBA program, capstone projects are a great example of real-world learning in action. You can show professors and yourself that your ability to solve a business problem is a plus. This experience will help you in your future career. You’ll also have the ability to make decisions and understand specific corporate strategies.
- You can gain credibility for your career.
Employers will be impressed by your MBA. It demonstrates your understanding of modern organizational challenges and shows that you can mitigate risk by making the best business decisions.
Credibility for your career is also a sign of confidence. You are aware of the skills employers seek and can market yourself accordingly. You will also have the opportunity to reflect and grow personally through immersion in an MBA program. While earning your advanced degree, you have the unique opportunity to learn and reminisce about your business concentration.
Employers are most interested in what you have learned through your MBA, showing dedication and passion for your job. You will take on new challenges in your professional and classwork by gaining new knowledge. These opportunities will give you more experience and expertise, which can be used to strengthen your self-reinforcing circle.
When Should You Get Your MBA?
An MBA could be the right choice for you, whether you are a business professional looking to advance your career or new to business education and hoping to become a manager. You may be wondering when is the best time to study for an MBA. You can take a full-time MBA program at any time after you have completed your undergraduate degree.
Because of MBA students’ flexibility in their career paths, it is common to take classes online 100%. This allows for more flexibility in start times and scheduling individual courses. You can choose when to begin learning, how many paths to take, and how these lessons fit into your schedule. This allows you to balance your work and learn new skills.
An MBA program is ideal for those already working in the corporate world and who wish to learn new skills. MBA programs are focused on practical business experience and career advancement. You may find that you need to submit a resume and professional letters of recommendation. Do your research before you commit to a graduate program. Not all MBA programs are created equal.
What Makes an MBA Program Great?
The people who create an MBA program define it. Washington State University’s Online Master of Business Administration program was designed by an experienced faculty. It aims to provide the same high-quality experience as on-campus WSU students but with the added flexibility of learning online. The Association to Advance Collegiate Schools of Business International has accredited the Carson College of Business at WSU. The Online MBA program is ranked in the top 10% of U.S. News & World Report’s MBA rankings.The Online MBA program allows students to connect with alumni and fellow Cougar MBA students as part of their efforts to provide a quality education online. This community can help you get into the top ranks of the business world. Expertly crafted courses can be completed in between 22 and 29 months. Systems are flexible enough that they fit within your schedule. These courses reflect current corporate operations. You’ll learn how to collaborate with colleagues and make the most of real-world situations to understand executive decision-making.