The modern job market is quickly evolving into an abundance of opportunities for qualified professionals. The rapid expansion and development of the industrial sector has opened many possibilities for candidates to explore and take advantage. Business administration is one area that is in constant growth and has a strong requirement for talented individuals who can take up the dynamic role of business management and administration.
Many employees have grown from an entry-level employee to a chief-level executive over a few years. It is possible for almost anyone with some experience. However, an MBA degree can help aspirants attain this level easily and reap the benefits of an excellent executive career.
Besides, this MBA degree can also be pursued through online courses. Several universities like Texila American University offers online MBA courses. Therefore, studying an MBA degree is easy for working professionals to take up and pursue their master’s degree in business administration without leaving their jobs.
Most universities these days offer MBA programs in on-campus, part-time, and online. Therefore, the MBA aspirants can study through regular program or part-time course where they option to attend classes in the evenings and once in a week to fit their work-study schedule. When it comes to online MBA program, it is even easier for anyone to pursue with no excuses.
Here are a few reasons for MBA aspirants like you to pursue a master’s degree in business administration.
(1) Better Salary Package
MBA graduates are among the best-paid professionals in the world. On average, an entry-level MBA graduate executive earns anywhere between $55,200 and $123,500 annually. And, better yet, the demand for MBA graduates worldwide shows no signs of slowing down anytime soon, and that is good news. Listed below the average salary of an MBA graduate in various countries as of 2019:
|Country||Salary (US$)||Bonus (US$)||Overall (US$)|
|Africa and Middle East||$78,200||$12,500||US$90,700|
Source: Top MBA
(2) First Step to Become a Boss
Doing an MBA can open tap into your entrepreneurial side, according to a report by CNBC. Nearly 40% of the exclusive Fortune 500 company’s CEOs have an MBA on their resume. An MBA course would teach and train individuals on business planning, management, and financial handling. These skills will put you in the ideal position to manage your own business successfully and effectively.
(3) Better Career Opportunities
An MBA will open up more career paths, whether you are looking for a promotion, better pay, or trying for a lateral shift. MBA courses will offer you all this and more. There is simply no better way to move up the career ladder and reach a leading grade position in your career.
(4) Extensive Range of Possible Business Career Paths
Completing an MBA degree will open up better opportunities for your career. You can choose to specialize in any area of business of your choice. There are several core areas of activity covered with an MBA program. These include Finance, Human Resource, Information Technology, Statistics, and Economics.
An MBA graduate is also qualified to pursue a career in both the public and business sectors. With all the core areas of business penetrated, MBA graduates have more and better opportunities to expand themselves and develop their minds.
(5) Ideal for Networking
Business schools provide an excellent base for MBA graduates to meet various experts from the industry such as headhunters, entrepreneurs, keynote speakers, innovators, old-school business people, new entrepreneurs, and more.
After completing the course, these candidates could be exemplary business partners and provide excellent business decisions for any company. Customarily, those enrolled in an MBA program start as interns.
This experience provides students with yet another way to meet potential employers and collaborators, not to mention gain invaluable experience. The consolidated network of people you will encounter while studying your MBA program is sure to prove beneficial in the future.
(6) Improving your Credibility
An MBA degree is a perfect choice for individuals desiring to move up within an organization. It will be thrilled to find out that an MBA offers them credibility to do so. Even as an individual, those conducting business with an MBA graduate will be more inclined and relaxed to do so, in comparison with someone without an MBA.
An MBA provides you with that credibility and shows people that you are good at what you do. It shows potential partners that you are competent and dedicated to your profession and, ultimately, your industry. Besides, if you choose to specialize in a particular field, it shows your mastery over a specific area or sector, which will be beneficial for recognition.
(7) The Best of Both Worlds: Hard Skills Vs. Soft Skills
Unlike other courses that only provide you with hard skills, an MBA course provides the perfect balance in teaching students both soft and hard skills.
There are significant differences between hard and soft skills. Hard skills can be learned in school and often from books since they are mostly facts and raw information. Simultaneously, there is no simple path to learning soft skills because most soft skills are not taught adequately in school and have to be discovered on the job by good-old-fashioned trial and error, which is both time and consuming. Hard skills usually require IQ and are often associated with your left brain, which is also known as the logical center.
On the other hand, soft skills, generally, require emotional intelligence or EI, traditionally known as your right brain, which is the emotional center. The final difference is that hard skills are skills where the rules stay constant, regardless of your chosen circumstances, company, or colleagues. In contrast, soft skills are the complete opposite where the rules change depending on the company culture and the people you work with on a day-to-day basis.
Some of the expected soft skills of an MBA graduate are:
- Leadership Skills,
- Communication Skills,
- Problem Solving Skills,
- Interpersonal Skills,
- Ability to Work Under Pressure and Time Management,
- Flexibility, and
- Negotiation and Conflict Resolution.
Mastering both soft and hard skills is crucial to managing the technical and human side of the business. Being a good executive depends exclusively on your capacity to balance these skills. MBA degree has a great balance in teaching students on mastering these skills.
(8) Worldwide Recognition
After completing an MBA degree, a graduate is considered certified in the core areas and its managerial roles within a company. An MBA degree is one of the most recognizable qualifications around the world as it enables candidates to pursue careers in any field since it is highly compatible with other degree programs.
(9) Enhanced Knowledge and Communication Skills
Ask any MBA graduate; many will say that the MBA program has wholly enlightened them on many aspects of business, management, and even life. While those without an MBA degree contemplate and wonder endlessly on how an MBA graduate can easily understand and dissect the reason behind the business decision as they know the process of business. With an MBA, an employee can acquire an in-depth view of the process of business, which can be helpful in many ways in their careers.
A benefit that is not prevalent among many is the fact that students undergo training on how to communicate clearly and professionally. As part of the curriculum, they undergo training on the art of business communication. They also learn to develop compelling presentations and use other business tools to interact with others in a professional setting. These communication skills are invaluable professionally and personally.
(10) Path to Personal Development
Most MBA graduates almost become an entirely new person after their graduation. They now possess a new perspective on life and the business world. Concentrating on various areas taught in an MBA program will develop the candidate’s survival skills and make them more professional, enabling them to grow into exceptional communicators and business advisers.
In short, without a shadow of a doubt, pursuing a master’s degree in business administration will alter your career path and your perception of life for the best. In essence, pursuing an MBA degree can open up a world of opportunities in the world of business management.