What is an MBA? Do I need an MBA?
What comes to your mind when you hear the acronym “MBA”? Do you imagine a bunch of smiling business owners on the front cover of Forbes magazine? A global financial head-office with world-class architectural buildings and its bustling white-collar workers speaking on their iPhones? There is a saying that an MBA certificate is the most expensive piece of paper, all this and more but first what is an MBA, before moving to the 10 benefits of an MBA program?
An MBA is an acronym for “Master in Business Administration“, it is an internationally recognized degree created to build and develop skills needed for the career path in business and management. Most people struggle with the idea of getting an MBA degree would be profitable to them if they are good enough to top up a professional business management degree? or if they can actually afford it? In most cases, people feel that getting an MBA is a complete waste of time. If you find yourself being on the fence about pursuing an MBA or attempting to consider the benefits of earning an MBA against all cost, then I would be sharing with you benefits that come with the degree.
I would be mentioning at least 10 relatable benefits of getting the degree.
1) HIGHER INCOME
Earning an MBA degree increases employment opportunities and maximizes your career potentials. I would say the most practical advantage of an MBA is the recognition in the business world. We can all agree that individuals with an MBA and salaries of other degrees do have a significant difference. An MBA graduate is usually better and more heavily rewarded compared to those with B.Sc.
2) BUSINESS KNOWLEDGE
Having an MBA will help you to gain specialized business knowledge, on-becoming an MBA graduate, you would be taught and enlightened about certain aspects of life, especially the basic operations within the business world. Through an MBA student course work, students become better decision-makers, better at assessing risk, understanding how inflation and interest rates work. MBA graduates acquire an in-depth understanding of the business world.
3) STRONG NETWORKING SKILLS
In general, the Business school provides a great platform for MBA graduates to meet a lot of people with the same goal. The calibre of people MBA graduates meet while studying are top recruiters, Managers to reputable companies, Businessmen, entrepreneurs and so on. An MBA program paves the way for you to meet and interact with future business managers and CEOs. This provides MBA graduates ways to meet their future business partners and consolidate a strong network bond that would be beneficial to them in future.
4) TRANSFERABLE SKILLS
Regardless of what you studied as your foundation; you can still become an MBA graduate. It gives you specialized knowledge on managing a business, at the same time it teaches students how to improve their leadership skills, analyze data and make the right decision.
5) PERSONAL DEVELOPMENT
We can all agree that maintaining an organized lifestyle can be a little challenging or living up-to a routine lifestyle. Becoming an MBA graduate would almost define the student’s character or making the student a new person. This would be made possible with the new perspective of life and different aspects of businesses taught in business schools. This also helps the student to develop his/her survival skills and different level of professionalism. For a fact becoming an MBA graduate would change the student’s perspective towards life and in general.
Once you have completed your MBA degree, you have gotten an edge over an ordinary degree. As I have initially said before, An MBA degree is an internationally recognized degree and hence giving you your one-way ticket to the C-suite anywhere you applied to ( C-suite refers to the Executive-level Managers within a company) i.e Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (CFO) and Chief Information Officer (CIO). Having such degree would help you attain positions like this anywhere you would like to apply to, as long as the Business school is recognized. It can be used to pursue other career fields since it is incredibly compatible with any other degree programs.
7) TIME MANAGEMENT
Being able to manage time isn’t as easy as it seems. That is why for an MBA student, they have been taught the skills of managing their time and to have a better understanding of being proactive and capable of carrying out an assignment for an allocated time.
Once you commence your study, you would be placed with the responsibility of meeting up to the school’s routine. i.e. going to classes, maintenance of 9.5% of attendance, completing the assignment. All of this task takes a level of self-discipline that you may not take to naturally but can cultivate with continuous-time and effort over the period of time while working through the MBA program.
9) ENTREPRENEURSHIP OPPORTUNITIES
Having an MBA degree places you on the pedal of self-employment that sharpens your interpersonal skills. Many people usually start a business without an MBA but lack the fundamental knowledge about starting a business and keeping it running. Having an MBA helps avert financial mistakes and losses.
10) BETTER COMMUNICATION SKILLS
During your study in the business school, Students are taught how to speak clearly and distinctly, boosting their communication skills. They are taught the art of language, how to use words, the meaning of words and teach them how to develop their people’s skill and exceptional presentation. To be honest, these communication skills are invaluable in the business world.
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