Are you stuck in your current job? Have you been dreaming of accelerating your career but need help figuring out where to start? Whether you are a recent university graduate or an experienced professional, pursuing a Master of Business Administration (MBA) degree could be the answer.
An MBA is more than just another certificate on your resume. It prepares you for leadership roles and opens doors to many industries. In this blog post, we will guide you through a roadmap on how an MBA can accelerate your career and take it to the next level.
Leadership Skills Development
Many companies seek leaders with soft and hard skills; this is crucial to their growth and success. An MBA program will help you develop these essential skills by:
- Providing access to networking opportunities with seasoned executives.
- Presenting business-specific case studies to gain hands-on experience.
- Offering structured peer-to-peer collaboration projects.
- Delivering coaching from experienced professionals in multiple fields.
- Providing high-level management sessions focusing on internal operations and strategy development.
When graduates receive their Master of Business Administration certificates, their honed leadership skills and expertise, which are sought after by top-tier employers worldwide, help them stand out.
Discovering New Opportunities
The networking provided by formal degrees such as an MBA open up new opportunities. This connection allows professionals in various industries at different stages of their careers, even at varied locations globally, to effectively leverage alumni networks that provide access to individual growth opportunities not readily available elsewhere.
Regardless of whether those alumni hold positions as decision-makers or recruiters looking for talent, graduates connected via accredited universities are always well-positioned compared solely with local candidates subscribed within the non-alumni recruitment initiatives.
For some online alumni communities like those offered by many institutions such as Harvard Business School, Kellogg School Of Management at Northwestern University, and Wharton at the University of Pennsylvania, strong and evident support systems go beyond the geographical distance that alumni leverage as avenues for pooling resources to grow in their careers even long after finishing their respective MBA programs.
Exposure to Multi-Industry Experience
The flexibility that an MBA offers is unparalleled. Master of Business Administration (MBA) programs are designed to broaden your skills within your expertise area and beyond your work experience or degree path. This helps immensely when aiming to switch industries or positions later during one’s career.
An example would be an engineer with a particular interest in banking who could take courses related to finance within the program. This, in turn, would allow the engineer to move towards the world of investment management rather than continuing with engineering. By learning business management principles, students develop critical thinking and creative problem-solving skills when encountering challenges across multiple business landscapes.
The exposure provided by training prepares MBA graduates for moving forward through what this writer calls “proactive risks” usually encountered further down the career road. This is where leadership-ready professionals thrive, as an MBA hones their decision-making abilities and gives them the confidence to seek out opportunities for innovation.
Increased Earning Potential
One of the most significant benefits of being more competitive is undoubtedly the increased earning potential that a master’s level accreditation, like a Master in Business Administration degree, offers. According to Payscale.com, reported rankings in 2018 show salaries averaging around $87k with junior-level roles starting at around $58k annually, while excellent pay packages over double or even triple these can be achieved depending on industry type. Factors such as the MBA major, location, and specialization fields all affect pay.
Final Thoughts
An MBA can significantly impact one’s career financially and professionally. Studying for an MBA may seem daunting initially, but it is worth all the effort invested into completing it. Thanks to the variety of MBA programs available, students can choose between pursuing online or on-campus degrees or choosing a business school or formal MBAs. Students are encouraged to choose the environment that is best suited to their personal and social needs and allows them to handle the program’s challenges ahead.
Deciding whether to pursue an MBA is a personal choice, but it’s essential to understand the opportunity cost and potential gains. If you’re seeking a roadmap towards career growth and success, earning a Master of Business Administration (MBA) degree could help accelerate your journey.