The Value of an MBA: More Than a Classroom Education
An MBA (master’s of business administration) prepares a student with the level of business knowledge he or she will need for a career in management or administration. The information conveyed in MBA programs covers many areas of the business world. Some of those areas include marketing, operations management, finance, and accounting. Effective MBA programs prepare students for the challenges they’ll face in high positions of management. The following delves further into the question of why get an MBA?
First, students participating in online MBA programs or traditional MBA programs gain a certain amount of practical knowledge about the workings of the business world. In essence, not only do MBA programs teach students business theories, they show students how to apply these theories in realistic business situations. Many ambitious MBA students appreciate and benefit from those types of memorable, practical lessons.
Next, a student who earns an MBA degree has increased his or her chances of earning a higher salary. People who earn an executive MBA are demonstrating their desire to progress in their profession. A person who devotes the time, effort, and money to earning an MBA merits an MBA salary. For example, a person who works as a financial services agent earned an annual median salary of $68,680 in May of 2008 (Bureau of Labor Statistics). Financial services agents who graduate from online MBA programs or traditional MBA programs are likely to earn a salary that is above that average. Alternatively, information systems managers earn an average annual median salary of $112,210 (Bureau of Labor Statistics). Once again, an information systems manager who attends online MBA programs will have the opportunity to earn an MBA salary and progress in his or her line of work. Furthermore, earning an executive MBA will garner a higher salary for a person working in the business world as well.
Another answer to why get an MBA is that a professional with this degree is more competitive in today’s job market. The high level of skills and practical knowledge gained in MBA programs allows a graduate to have an advantage over anyone without this advanced degree. Nowadays, there are more people competing for fewer job positions in the field of business. A company that is hiring is going to look for the most qualified, skilled person for an open position. A person with this advanced degree will earn an MBA salary because he or she will be ready to fulfill the obligations of the job position within the company. Both traditional MBA program) and executive MBA programs offer students theoretical as well as practical knowledge that will serve them in a high level position in a company.
One of the most valuable things about an MBA degree is the instruction. Many courses in MBA programs and online MBA programs are taught by people who have experience in the business world. An instructor may own a company or have worked in a management position for a well-known, successful business. Consequently, instructors can incorporate their real life business scenarios into the course. MBA students benefit greatly from receiving instruction from a person who has been in the ‘trenches’ of the business world. In addition, instructors with real life business experience often know other business professionals (with MBAs) who can add value to the course. Business professionals can lead courses and workshops in order to demonstrate particular business theories to the MBA students. Not only do the students benefit from hearing the experiences of various business professionals, but they also may make some meaningful connections that they can use after they graduate. They can get to know leaders in the business world, ask for advice, and maybe even call on the person when it comes time to find a job. Not surprisingly, if the professional remembers the work and attitude of a particular student, he or she may be willing to help the student contact the right people in order to line up a job.
Finally, practical experience, the opportunity for a higher salary, and expert instruction are just a few of the answers to the question of why get an MBA? By investing in advanced education in the form of an MBA degree, an individual is laying the groundwork for a successful, long-term career in the world of business.
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