List Of Top 10 Reasons to Study MBA
The change will occur for many prospective professionals in 2022. Studies reveal that more than 40% of the world’s workforce wants to hunt for a new job as we enter a post-pandemic economic development period (Forbes, 2021).
Despite the fact that many professionals considering a career change are unsure of their specific future path, they all desire something better, something more fulfilling, and they desire work that would allow them to grow individually. These ambitions must be realized in a world that is changing quickly; an MBA can help make these dreams come true. Here are the Top reasons to study MBA might be the best career step for you.
1. Expand your horizon and give yourself options- So what precisely is an MBA and what does it teach you? An MBA gives individuals who have often been in the workforce for several years the broad competencies they need to grow in their present organization or change industries. Consider it to be more difficult. The Distance MBA program is international in scope and is recognized across the world.
A business management degree (MBA) is intended to give students a comprehensive understanding of how businesses function as well as the variety of skills they need to manage every department within a company, advance to top positions in the public sector, or launch and grow their own company.
Your style of thinking will alter as a result of an Online MBA degree, which also offers fresh perspectives, useful resources, and tactics for identifying opportunities and overcoming obstacles. An MBA program covers a variety of topics, including:
- Financial Management
- Dynamic Leadership
- Business Decision Analytics
- Global Management
- Innovation Creativity & Entrepreneurship
- Corporate Sustainability
The “wide and deep” approach of an MBA is crucial if you’re attempting to shift your profession but aren’t sure where to go. An MBA allows you the chance to test your preferences and increase your knowledge of yourself by exposing you to a variety of novel and unfamiliar subjects. By doing this, you will understand your prospective path of study better.
2. You’ll get a higher salary- The data about graduation earnings around the world reveal that MBA graduates receive better salaries after completing their courses, and money talks. One survey by QS World University Rankings found that the starting pay for online MBA program students was $46,974. After graduation, the average pay had increased significantly—by 77%—to $83,186. Additionally, it appears that this number is rising as the economy improves.
According to data from the US National Association of Colleges and Employers, the typical starting income for distance MBA program graduates in 2021 will be $87,966, which is 11.3% more than the typical starting salary for 2020 graduates.
A graduate’s position, industry, location, gender, and amount of experience will all have a significant impact on the pay grades they receive as MBA graduates. The fact that the business world is still improving in terms of gender imbalance is positive. According to the AMBAs Application and Enrolment Report 2021, 39% of all MBA applications worldwide were made by women in 2020.
However, overall research repeatedly demonstrates that the financial benefits MBA graduates will experience in the future will be a worthwhile investment.
3. In 2021, the demand for MBA graduates is expected to increase- According to the most recent hiring polls, many firms will be looking for new managerial skills in 2021 and 2022. In one such well-known poll, the Graduate Management Admission Council’s (GMAC) annual Corporate Recruiter Survey, hiring and compensation expectations for 2021 online MBA program grads are significantly higher than those for their 2020 counterparts.
They discovered that after a pandemic-related decline, 91% of corporate recruiters are currently hiring MBA graduates in 2021, and 90% believe that demand will rise or remain stable over the following five years.
4. Obtain the soft skills you need to be an effective leader- In the post-pandemic era, soft skills are in demand, and an MBA is a terrific place to master them.
The interpersonal, self-reflective, and community-focused components of the distance MBA program that are crucial for ethical leaders are perhaps more significant than the administrative, analytical, and leadership abilities taught. Being in a position of leadership affords the chance to provide an example of moral behavior that followers will imitate. Online MBA degree graduates are being molded into tomorrow’s moral managers who can positively alter lives, communities, and dishonest business practices among the fake news, unethical leadership, and corporate crises of our contemporary world. Soft skills are vital to ethical leadership. Consequently, as part of your MBA study, you will acquire:
- Emotional and Social intelligence
- Different ethical leadership styles
- Effective communication techniques
- Creative problem solving
- Cross-cultural understanding
- Team building
- Active listening
These abilities are among the top ones that recruiters look for when recruiting since they are more crucial to the business world today than they have ever been.
5. According to statistics, you’ll land a senior post- As part of an ongoing study, the Association of MBAs conducted surveys of 2,110 MBA alumni and 752 current distance MBA degree students in 2020. 65% of graduates held management roles inside major organizations within five years after graduation, 12% were senior managers, 11% were business owners, and 18% were employed by small enterprises.
According to the study’s longer-term findings, MBA graduates are increasingly holding senior management roles, including those of firm owners (27%) and board members (15%).
Payscale reports that the following managerial positions are frequently held by Online MBA degree graduates, along with the corresponding compensation range and the average for each:
- Project Manager ($59,012, $85,832, and $122,014)
- Director of Finance ($93, 000 – $238, 000 and $151, 533)
- (67k – $107k and $84,927) Senior Financial Analyst
- Financial Analyst (pay range: $51,087 to $65,355)
- Manager of Human Resources ($52k to $100k and $72,471)
- ($63, $132, and $92,138) Financial Controller
- Manager of Operations ($54,001 – $120,001 and $81,075)
6. There are numerous specializations available- With the option of dual programs and elective topic selections, you can create your own distinctive qualification in addition to the MBA core subjects. Students are able to pursue their passions and tailor their education to meet specific job objectives thanks to these specializations.
Dual programs and elective subjects, in addition to the online MBA’s program core areas, enable individualized specialization. Popular specializations include the following:
- Global Project Management and an MBA
- Public health administration and an MBA
- Sports management and an MBA
- Systems for Information
- Worldwide Management
- Social enterprise and entrepreneurship
7. Internship and placement opportunities- Studying alone is not all that attending an MBA entails. The entire purpose of an MBA is to give you the opportunity to learn transferable, practical business skills that you can use right away in the workplace.
An industry placement, corporate project, or internship is typically included as part of the curriculum for MBA programs. This placement is available through an employer-based project at Torrens University. Working professionals can also incorporate real projects from their company into their assignments in the majority of disciplines. Additionally, there is a chance for students who have a developed social enterprise to participate in a program that, in the end, introduces them to investors.
For MBA grads, an internship is crucial because many of these paid internships lead to full-time positions.
Make sure you select a business school or institution that has these qualities when choosing a location to get your distance MBA degree :
- industrial partners with whom you truly want to work, an internship program
- the corporate project integrated into the curriculum, as well as an
- active mentorship, success coach, or job assistance program.
8. Flexible education is provided.- A wide education in leadership, managerial, strategic, and interpersonal skills that are applicable to a variety of jobs and industries is what an MBA is intended to provide for you. Because of this, an MBA can open doors to a wide range of careers.
According to research, MBA holders find employment in a wide variety of fields, including consulting, banking, finance, IT, education, non-profit, energy, and government. According to a 2019 survey by the Association of MBAs on graduation outcomes, roles for distance MBA degree graduates include
- Advisory (18%)
- Business (16%)
- Development of sales or businesses (16%)
- Accounting and finance (10%)
- IT (7%)
- the general manager or CEO (6%)
- PR or marketing (5%)
- Logistics, supply chain, and purchasing (4%).
According to the study, 88% of MBA graduates said their confidence and skill in business management had greatly grown. In addition, 81% concurred that the abilities they acquired while pursuing their MBA helped them become more resilient, a quality that is important in any job in our fast-changing global environment.
9. Courses offered online and through distance learning- The educational landscape has changed more in favor of online learning since the covid epidemic. These days, all schools and universities function online, allowing students to do their coursework while relaxing in their own homes. This also holds true for online MBA programs. Working people can mix jobs and study through distance learning and online MBA programs, preserving their income and preserving the possibility of enrolling in a full-time program.
The fact that these programs are accredited is a fantastic feature. You reside in a society where online education is treated with the same respect as on-campus instruction. Additionally, the cost of online MBA programs is lower than that of on-campus programs. Therefore, considering an MBA is worthwhile if you want to succeed in your work.
10. Improvement in communication skills- Successful professionals must possess the core talent of effective communication. Even though it’s a “soft skill” compared to “hard skills” like building a P&L model, communication is still very important. An MBA can help you improve your written and vocal communication abilities, enabling you to effectively communicate ideas to individuals at various organizational levels in order to ensure that everyone can cooperate in pursuit of a common objective.