The Masters of Business Administration (MBA) is the standard advanced degree for those seeking managerial positions in business and other organizations. MBAs can be lengthy and challenging programs. Most require some 45 semester hours and include courses covering a full range of business interests from accounting and finance to management and marketing.
The MBA offers several advantages.
1. The degree opens opportunities for advancement. Larger firms may require the MBA as a prerequisite to advancement in executive positions. Advancement increases responsibility, status, and income.
2. The degree could develop the knowledge and skills necessary for changing careers. Most MBAs include a concentration in a specialty area such as accounting, marketing, or human resources. The concentration could be sufficient preparation to move into new career specialties.
3. The MBA degree offers basic instruction in general business practices that could serve the needs of entrepreneurs. Entrepreneurship is a concentration option in some MBA degree programs. Internships are possible while pursuing the degree, which could increase the likelihood of success once the student graduates.
Other benefits of obtaining the MBA degree include:
4. The degree creates a competitive advantage. The common assumption is that those holding the MBA degree are highly qualified leaders. This assumption provides a degree gives competitive advantage in personnel selection decisions.
5. The degree tends to be recession-proof. A quality MBA degree prepares business leaders to handle complex business challenges and specialization may allow the holder to offer expertise that businesses value too much to let go.
6. The degree could open networking opportunities with others seeking the same degree. Since those holding this degree often enter the highest levels of management, they could prove to be valuable contacts in the future.
Campusgrotto.com adds to our list of benefits with advantages that could be of interest to recent graduates.
7. The MBA creates a managerial persona. That is, MBA programs force students to think and act as executives. The new perspective contributes to assuming the perspective of someone who works in management.
8. The pursuit of the MBA defers student loans. Obviously, graduate school only delays the repayment of school loans and will increase student loan balances. However, education is typically worth the investment provided the degree is marketable.
The MBA is not an easy degree to obtain, but the degree does offer certain benefits. The challenge is to find the program that best fits the needs and interests of the student. Lastly, the student needs to have a goal in mind that will be served by the degree.