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Reasons To Do an MBA? : A Guide

Reasons to do MBA

When deciding whether to pursue an MBA, ask yourself, “Is an MBA worth it?” Better job options, specialisation in various sectors, and assistance in building managerial abilities can be obtained through an MBA programme. It will raise the quality and number of career chances and improve your professional marketability. Studying for an MBA overseas has several benefits, including earning a high income after graduation, getting a management job, building a strong professional network, or even starting a business. In this blog we will go through various reasons to do an MBA.

Today, many people enrol in this program without really understanding what it’s all about. For this reason, business schools will ask their applicants the ‘Why MBA?’ question during the MBA application process or interview. Having a clear understanding of the reason to get an MBA might allow you to make the most of your MBA experience. This is exactly what you’ll learn in this article.

What Are Some Of The Reasons To Do An MBA?

  • Career Advancement

One of the reasons to do an MBA is that it gives graduates access to a more varied and expansive sector. An MBA covers several fundamental subjects, including economics, finance, statistics, technology, and human resources. An MBA qualification is highly regarded in today’s competitive job market and adds value to your CV. 

One-third of aspiring MBA students utilise their management training to explore fields they have never worked in. This is an excellent justification for the value of MBA studies in the later years of your professional career.

  • Leadership Development

MBA programmes often focus on developing leadership skills, which can be invaluable in any career. You’ll learn how to motivate and manage teams, communicate effectively, and make strategic decisions. This skill is one of the main reasons to do an MBA because climbing up the corporate ladder to achieve managerial and decision-making positions is aided by this knowledge. It can also be helpful in entrepreneurial ventures. 

  • Specialisation

Many MBA programmes allow you to specialise in a particular business area, such as finance, marketing, or entrepreneurship. The ability to specialise in a specific area of study is one of the key benefits of pursuing an MBA. If starting your firm is something you’re interested in, an MBA with a focus on entrepreneurship, such as the MBA Entrepreneurship programme offered by the University of East London, could be the ideal fit. An MBA specialising in Finance at the University of Bedfordshire can be a better option if you wish to succeed in the financial industry. General Management: Probably the most popular MBA specialisation, is great for developing an all-around effective business arsenal and a versatile business environment which makes it another reasons to do an MBA.

The following are a few top schools and universities around the world that offer MBAs:

  • James Madison University, the US
  • University of Wolverhampton, the UK
  • Geneva Business School, Switzerland
  • Loughborough University, the UK
  • Koc University, Turkey
  • Global Business Perspective 

In today’s international economy, it’s important to have a broad understanding of different cultures and business practices. Many MBA programmes offer opportunities to study abroad, work on international projects, or learn about global business trends. This can help you develop a global perspective and work more effectively with colleagues, clients, and partners worldwide.

Your career advancement does not have to cost you a fortune. In the countries listed below, you can get a more affordable MBA degree available in these countries (under 10,000 EUR/academic year).

CountriesFee
France0 – 9,000 EUR/year (international students)
Germany0 – 9,000 EUR/year (international students)
Austria0 – 10,000 EUR/year (international students)
  • Opportunity To Learn Managerial And Entrepreneurial Skills

MBA programmes provide more than just the material taught in lectures, which can aid students in developing more complex abilities. Skills like negotiating, collaboration, dispute resolution, public speaking, and leadership. This happens due to the numerous tasks, activities, and assignments that students must do during their MBA programme.

Employers can recognise you have what they are searching for if you have a business degree. In other words, obtaining an MBA instantly boosts your reputation, making it another reasons to do an MBA

  • Demand for MBAs is High 

The hiring estimates for an MBA remain positive compared to previous patterns, according to the GMAC Hiring Patterns and Estimates Report. Employers in the United States and Asia Pacific intend to hire MBA graduates at a rate of 77% and 87%, respectively. However, compared to small businesses, major businesses are more likely to recruit MBA graduates. Thus, the ongoing need for MBA graduates is another reason to get an MBA.

  • Networking Opportunities 

In the business world, networking and connection development are incredibly crucial. Hence, networking prospects are one of the biggest reasons to do an MBA. An MBA attracts a diverse group of students from different backgrounds and regions. Social campus gatherings provide a platform for networking with alumni and students from various academic fields. You’ll be able to establish reliable, professional connections as a result.

In addition to learning from their peers, students will develop enduring relationships with one another, with the chance that some of them could one day create businesses.

This table illustrates the number of students studying a postgraduate business master’s degree in the UK over the last few years:

Academic yearNumber Of Pg Business Students
2013/2014100,860
2014/2015103,210
2015/201697,790
2016/201798,095
2017/2018102,930
2018/2019108,800
2019/2020127,075
2020/2021153,320
  • Potentially Lucrative

Your ability to make more money is one of the key reasons to study an MBA.  According to research on compensation, there is a big disparity in salaries for people with MBAs and those with other degrees. A typical salary for an MBA graduate working in the public or private sector is between £70,000 and £120,000. Some industries that provide the highest salaries for MBA graduates are Investment banking, Financial Management, Marketing and sales management, IT management, Management consultancy, Healthcare ManagementManagement, and Business operations management. Here are the potential salaries for the mentioned careers in various countries:

CountryPotential Salary
Australia$108,250
United States$100,704
Canada$92,500
Ireland$92,125
United Kingdom$91,600
Singapore$90,700
France$87,071
Malaysia$82,267
Italy$80,833
Brazil$75,138
  • Online And Part-Time MBA Degrees Are Both Great Options

Online MBA degrees provide convenience and flexibility, which are the main benefits. Whenever and wherever you want, you can access lectures and course materials.

What are the benefits of earning an MBA online? Almost anything. Accreditation is available for online MBA courses. Across the globe, online education is becoming as respected as on-campus education. It’s important to check the accreditation of the MBA degree or university before enrolling to prevent scams.

MBA tuition fees are lower for online programmes, and the tuition costs are the only cost you’ll have to worry about when studying online.

It is possible to enrol in a part-time MBA program, along with your job, if you want to develop your business knowledge. It may take you two to three years, or even four years, to complete a part-time MBA program, depending on the type of MBA program you choose.

The advantage of a part-time MBA is that you can continue to earn while studying. Part-time MBA programmes may offer weekend classes and flexible hours, so you can customise your studies to fit your schedule.

What Are The Career Options Available For MBA Graduates?

MBA graduates have many career options, from financial roles and management consultants to analysts.

As investment bankers advise people on acquisitions and raise capital, their salaries are high. Having this career option opens up many possibilities for self-improvement.

Healthcare is another career option for MBA holders. There will be more demand for qualified professionals to make decisions as the number of medical facilities and the population grows. 

MBAs are also employed in other positions. Building and regional management are among these tasks, in which you are responsible for meeting with floor managers monthly and providing support.

  • Opportunities For Independent Work And Teamwork

An MBA graduate may work independently or in a team, and delegation is expected if you are assigned to work with a large team. Managing conflicts within your team and listening to suggestions from your team members are essential skills.

You will need to manage your time wisely if you work independently. Having the freedom to set your working hours is one of the major advantages of working independently.

Conclusion

Of course, pursuing an MBA degree requires a significant investment of time, money, and effort. After going through the reasons to do an MBA, it’s essential to consider your goals, financial situation, and other commitments. You should also research different MBA programmes and speak with alumni and current students to get a sense of the experience and what kind of career outcomes you can expect. Ultimately, if you’re passionate about business and want to take your career to the next level, an MBA degree could be an excellent choice.

Thanks for reading this blog, make sure you check out our other informative blogs linked below.

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Reasons to do MBA

Reasons To Do an MBA? : A Guide

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