Nearly eighty percent of top executives polled in a recent survey said that earning a graduate degree in business is important for those who want to obtain top management positions in most companies.
The truth is that as the world moves toward a more corporate and service-oriented economy, earning an MBA becomes an effective way of not only ensuring your employment, but also ensuring your success and marketability an ever evolving job market. As businesses have continued to be impressed with abilities and accomplishments of MBA graduates, the MBA degree has become much more popular.
But is an MBA really worth the extra years of schooling that are required -- especially when you could be spending that time working? The numbers indicate that the answer is most likely yes. A recent survey of accounting/financial workers of varying skill and seniority levels in US found that CFOs without a formal degree had an average salary of only $38,920, those with a Bachelors Degree earned up to $88,836, while MBAs with relevant experience earned an average of $104,284. The return on investment for an MBA certainly appears worthwhile.
Most MBA programs regardless of the major focus will provide you with training in basic business principle needed by any business manager including, corporate finance, economics, strategic planning, marketing, basic accounting, etc.
However, if you know which career field you are interested in, selecting a specific MBA focus will allow you to specialize and better prepare yourself for your career. This means you won't just learn the basis of corporate finance, but rather advance corporate, investment finance, financial accounting and financial markets which will make you much more marketable as a financial analyst or banker. The flip side to earning a specialized MBA is that it make be difficult to change career fields if you change your mind down the road. The following are different types of MBA programs.
Where you decide to pursue a general MBA or a specific specilization earning an MBA in any field is an excellent option - especially for students hoping to land excellent jobs once they graduate.
Research indicates that individuals with an MBA tend to move up the promotion ladder much quicker than those without the degree. Not only that, but most employees possessing an MBA on average earn more than their lesser-educated contemporaries. These statistics should come as no surprise given the fact that MBA graduates are in high demand at multi-million dollar companies throughout the world.
MBA graduates aren't the only people who benefit from and MBA. Students earning their degree can also benefit while still attending school. Due to the fact that graduates are in such high demand, many companies have been known to hire students still earning their MBAs in order to better ensure future services. These students are often treated exactly like their MBA carrying colleagues, and thus receive all or most of the MBA benefits bestowed by these companies.
Finally, earning MBA is an ideal networking opportunity for those interesting in obtaining a career with large corporations in many different industries. Most reputable MBA programs have relationships with local business, business leaders and community leaders who have connections high up. Almost as valuable as the degree itself are the connections that are made while earning an MBA.
We believe earning an MBA is a good idea for anyone interested in a successful business career. In fact, we are loath to think of any reason not to pursue an MBA - the benefits are just too good to pass up.
