Do you feel stuck in your current career path? Are opportunities for promotion and advancement kind of thin on the ground where you’re standing at this point in your professional life?
Do you have big dreams that need real power behind them to become real? Is your potential fully realized, or can you reach for more? How do you feel about getting a C-suite level job, or even becoming a CEO or entrepreneur?
Are you ready to level up your business skills, connections, and earning potential? Then you should think about applying to a Master’s in Business Administration (MBA) program. (If you want to know more about what is an MBA program, we’ve blogged about that previously here. You can also get some fast facts on MBA programs.)
What is an MBA degree good for? That is, what can you do with an MBA degree? If you’re the right kind of ambitious professional, the right question is – what can’t you?
The team of MBA admissions experts at The MBA Exchange knows the ins and outs of the MBA program application process. Learn more about why an MBA degree could be right for your future, and find out what we can do to help you make admissions and career dreams a reality for you.
Is an MBA degree really worth it?
For sure, you’re going to have to step up to make it in competitive MBA programs, from getting into making the grade once you’ve claimed your seat.
An MBA degree represents a substantial investment of time, money, and resources on your part. You’ve got to track confusing MBA application deadlines, to say nothing of the jungle of scoring high on the computer-adaptive Graduate Management Admission Test or the Graduate Record Examination (GMAT vs GRE), depending on which test is right for you.
It’s not going to be easy. But the results? Worth it. Super worth it especially if you’re the type of go-getter trendsetter groundbreaker that thrives in today’s fast-paced and innovative international business scene. That’s why MBA degrees remain so popular around the world today.
The effort you put into gaining admission to an MBA program and earning your degree comes back to you multiplied by the expertise of your peers and mentors at the top. What is an MBA degree good for? Your completed degree puts you over the top for future success in a whole lot of ways.
Why get an MBA degree?
There are so many reasons why you might get an MBA degree. When you earn an MBA degree, you gain skills to pay the bills, in addition to a credential that speaks loudly to your competence and drive to excellence. And that doesn’t even touch on the valuable contacts, experiences, and exposure you can gain through your MBA degree study.
What is an MBA degree good for in terms of your education? MBA degrees teach you practical skills, put you in contact with other movers and shakers, and set you up for a full-power launch of your post-graduation career. That’s why MBA degree graduates can expect higher salaries and open pathways to promotion and increased professional responsibility.
Top 7 reasons to do an MBA
Why get an MBA degree? The list of ways that an MBA degree could improve your prospects, performance, and overall career trajectory could go on for days, so we’ve picked the most significant points.
Let us break this down for you. What is an MBA degree good for? Here are seven possible answers for why you should get an MBA degree.
1.Turbo-charge your career growth
What can you do with an MBA degree? An MBA degree is a great way to grow your career, whether you’re already established in a professional niche like healthcare management consulting or supply chain management or you’re looking to get into new fields like tech-sector startups or green energy.
MBA degrees may open your path to promotion in your chosen field, or your degree can present a bridge to a different specialization. After completing your MBA, you’ll find more open doors and new career opportunities coming your way than you would with just an undergraduate-level business degree.
2. Boost your professional confidence
What is an MBA degree good for in terms of your personal mindset for future career growth? As a graduate of a top-tier MBA program, you’ve got the confidence to back your bravest proposals. When you know you can bring it home, you’re more likely to put yourself out there and take the professional risks that can lead to the biggest rewards.
You already know how much of your success depends on confidence, guts, and the willingness to go for it when the time is right. Don’t you deserve the added pep in your step that a top-tier MBA in your pocket could give you? That’s why you get an MBA degree.
3. Establish your credibility
With an MBA degree, you don’t have to ask your bosses or future employers – or your future clients! – to take your word for it. Just think about why an MBA degree on your resume can mean so much. What can you do with an MBA degree after your name on your business cards or LinkedIn page?
Once you’ve got your MBA, you’ve got the credential to back up your claims of exceptional competence, skill, and achievement. If your degree is from a top-tier MBA program, your resume conveys that added impact, as well.
4. Get rid of entry barriers
The job market often throws up barriers to entry like resume screening. Lots of organizations prefer to hire job candidates with MBA degrees, and may screen for such when looking for entry-level management trainees.
If you want to work for a company like Amazon, Apple, or Deloitte, getting an MBA puts you on the management career ladder instead of being flushed out of the C-suite pipeline. Top b-schools like Wharton, Northwestern Kellogg, Harvard, and Yale boast a 90% plus employment rate for graduates. That’s definitely an answer to the question of what is an MBA degree good for!
5. Hook up great networking opportunities
Another great reason why you might want to get an MBA degree is prime-grade networking. In the years you spend working on your MBA, you get to meet and work alongside some great minds, both in your cohort among your peers and in terms of the professional contacts you can make over the course of your studies.
Once you’ve completed your MBA degree, you benefit from extensive alumni networks, hooking you up with direct connections in the businesses and organizations you want to join.
Networking opportunities are a big part of the reason why the nonprofit Graduate Management Admission Council™ (GMAC)’s report on “The Value of Graduate Management Education: From the Candidate’s Perspective,” an attempt to quantify the question of what is an MBA degree good for, ultimately records such a high degree of candidate and alumni satisfaction.
A whopping 94% of b-school alumni rate their experience and education as good, excellent, or outstanding, according to GMAC’s research. That’s a record of success it’s hard to beat.
6. Increase your earning potential
What are an MBA degree good for in concrete terms, hard dollars, and cents? The worth of an MBA may be on the rise.
Salaries for new MBAs have hit record levels in recent years, rebounding after the pandemic to hit an all-time median high of $115,000 in 2021, according to the GMAC, up from $105,000 in 2020.
Your salary could be even higher with an elite degree – programs like UPenn’s Wharton School and UChicago’s Booth School of Business reported $5,000 of median salary growth for graduates, with salaries reaching $155,000, the highest base salary recorded by Wharton.
2022 seems likely to be another boom year for new-minted MBA employment and salary growth, with labor market recovery still going strong. It’s a good time to invest in the earning potential increase that an MBA degree, especially a top-tier MBA degree, can earn you.
7. Make your own way as an entrepreneur
A big chunk of MBA hopefuls has their eyes on entrepreneurship as a future career. MBA programs like UNC Keenan Flagler offer specializations in entrepreneurship that can prepare you for the twists turns and challenges of going into business for yourself.
Why MBA degrees for entrepreneurs? As an MBA graduate, you pull more weight and can demonstrate real credibility in a future entrepreneurial role. That’s a big part of the initial push to get a new business off the ground for launch. That MBA might be what you’ll need to get you there. What can you do with an MBA degree specializing in entrepreneurship? The sky could be the limit.
High demand for an MBA
MBA admissions are more competitive than ever, as markets and salaries rebound after the initial disruption of the pandemic. Earning an MBA can be more advantageous to your career than ever. That’s why you need every possible advantage on your side.
If you have a low GPA for admissions to a top MBA program or are wondering about the best GMAT test prep resources available for candidates like you, The MBA Exchange can help with all of that. We work with you to position your candidacy as ideally as possible, overhauling your resume and highlighting the high points of your personal story.
Our team of expert consultants includes multiple former adcoms, giving you insider advice to impress admissions committees and put you on track for MBA admissions success. We painstakingly match each of our clients with the exact right MBA admissions consultant for their candidacy.
To get started on your MBA journey, submit your profile for a free evaluation now, and find out what you’d need to do to gain admissions to top MBA programs.