Why Get An MBA?
In the last MBA Life blog post, I wrote about what an MBA is. In this article, I am going to discuss why you should consider getting an MBA, or a master of business administration degree. While obtaining your MBA takes some serious work and definitely some money, the MBA degree can really help you develop new skills and launch your career. Let’s take a look at ten specific reasons you may want to obtain your MBA.
1. It can increase your odds of advancement and the earnings power that comes with it:
An MBA can help you earn a higher salary or get a promotion. The average MBA salary across the United States and for all schools in 2019 was $107,000 for graduates. That is some serious earnings power. As you move up the ladder, these numbers can increase exponentially. Salaries will vary around this average based on many factors. One key factor is years of experience. Another great reason to obtain an MBA, is when it comes time to select who will be promoted, an MBA degree can help set you apart from those that don’t have one. Your odds of advancement, everything else being equal, are definitely higher with the degree. It can really help to separate you from the rest of the pack and give you the added credibility that obtaining a masters degree can convey, when seeking leadership opportunities.
2. It’s a chance to learn new skills and sharpen existing skills:
A good MBA program will help you develop your leadership, communications, decision-making, problem-solving, strategic and other business skills. If you already have skills in these areas, an MBA degree will help you sharpen and optimize these skills. You will be learning from instructors with significant real-world experience and from your peers, who are probably driven individuals like yourself. You will find that these skills and knowledge help you achieve higher managerial levels faster once you complete your MBA.
3. It’s a great opportunity to build your network:
One of the most useful aspects of an MBA for your career is the network you build. Your future job opportunities will be enhanced by the network you build while pursuing your MBA. The people you build connections with in a MBA program are more than just class mates, they will most likely be successful in their careers. One of the most valuable tools you have is your professional network and your network will be much stronger from completing an MBA program.
4. It’s an opportunity to learn from experienced professors:
A good MBA program will utilize instructors that have years of real-world experience. This is a great opportunity to learn from them. Some of your instructors will really challenge you and if you approach the relationship the right way, these experienced professionals can be your mentors. Learning how to develop mentors is important to anyone’s career and your MBA program is a great chance to practice this relationship skill.
5. You will understand how to manage, lead and motivate others:
Everyone wants to be a manager, but few people become true leaders. A good MBA program will not only teach you about management, it will teach you about leadership, motivating others and importantly, about yourself. Learning about emotional intelligence, delegating and motivation will make you a better leader and more likely to be promoted into senior management. Pay close attention in your leadership classes and learn from your instructor’s experience. These are some of the most valuable skills you can have.
6. You will learn more about teams and how to organize and build them for results:
Successful business requires teams that perform. During your MBA program you will learn more about choosing, developing and managing teams than you could ever imagine. You will do more than work in teams, you will learn how to optimize their performance. This is an essential skill for business with the modern world’s diverse, global workforce.
7. You will meet others who have a passion for business:
MBA programs give you a rare opportunity to spend time with others who are as passionate about business as you are. They will come from different backgrounds and work at different types of businesses and in different industries, which provides you an opportunity to find new ideas from one industry and bring them to yours. Your peers will be an asset for you not just during your MBA program, but the rest of your career.
8. You will become a more effective communicator:
An MBA program is a great opportunity to sharpen your communications skills. From speaking with others, to writing papers, to giving presentations and working in teams, an MBA program can help you greatly enhance and broaden your communications skills. These skills are essential and highly valued by any employer and industry. You cannot be an effective executive, unless you are an effective communicator.
9. MBA alumni recommend getting an MBA:
Surveys of alumni from MBA programs show that the vast majority would enroll again. What’s interesting is the number is even higher for MBA graduates that enrolled during tough times. Whenever I meet someone who has an MBA, I ask them about the experience. They all say it was challenging, but they would do it all again. That speaks volumes about the value.
10. You will have a feeling of accomplishment:
I can tell you from my personal experience, obtaining an MBA and also seeing how excited graduating MBA students are; receiving your MBA degree is one of the biggest feelings of accomplishment you will ever experience. Just remember, the sooner you start, the sooner you will achieve this milestone for you, your career, and your family.
In today’s rapidly evolving economy, the MBA ranks among the most popular professional degrees around the globe. MBA programs blend advanced skills in business and management with practical experience to prepare graduates to start or advance in a management career in virtually any field they choose. Employers prefer MBA graduates because of the breadth and depth of their professional skills, field experience, and knowledge of business networks and relationships.
If you have any questions about the Lourdes University MBA degree, contact Dr. Jami Curley at jcurley@lourdes.edu.