In general, MBA degrees are considered a worthy investment especially for people who are pursuing a career in business. If you are looking to advance your career then an MBA is extremely valuable. There are plenty of long-term benefits of earning an MBA which include higher salaries and career advancement opportunities both locally and abroad. The benefits outweigh the immediate financial and time costs while obtaining the degree. An MBA can also develop your communication and leadership skills, both of which are critical for professional success and career growth. Employers consider an MBA an asset because of the job skills required are commonly possessed by obtaining the degree.
Benefits of an MBA
Having an MBA is a sought after qualification in your resume, which showcases a high-value skill set that many hiring managers look for in employees. Having an MBA can diverse career and networking resources reserved for students and the opportunity to build beneficial long-term relationships and connect within the industry.
Earning your MBA can qualify you for higher salaries and more job opportunities. According to the study conducted by Graduate Management Admission Council (GMAC) candidates with MBA’s are more employable.
The figure below shows the increase in job offers when having an MBA:
It provides in-demand skills because of the coursework of MBA programs are structured in a way that is beneficial for employers such as problem-solving and critical thinking skills.
According to Graduate Management Admission Council (GMAC), the top valued skills of MBA graduates include:
- Interpersonal skills
- Motivation and leadership
- Strategy and innovation
- Decision-making
- Strategic and systems skills
Is an MBA worth it?
Yes, according to a study by the Graduate Management Admission Council (GMAC) 87% of MBA graduates have experienced a positive return on investment on their degree.
In addition the study also found that 94% of alumni rate the value of their MBA to be good, excellent, or outstanding. Therefore, an MBA can be seen as an extremely valuable degree to possess within the business environment.
What is the long-term value of an MBA?
You are spoilt with career choices there are vast career opportunities for an individual. They can opt for a variety of managerial positions such as a project manager, business developer, marketing executives and business analysts etc.
MBA’s are also popular in the finance sector such as investment banking, venture capital and asset management as well.
An MBA provides the preferred remuneration and provides job security. MBA graduates usually spearhead industries and therefore provides a lot of career growth and opportunities. Ensures professional growth and provides people with the career of their dreams.
A popular feature of an MBA is that is grants promotion because individuals will have developed the knowledge of the aspects of the business, and therefore stand a higher chance of promotion. More open doors for better opportunities and better positions in a company and acquire higher managerial positions and work your way up the ladder.
Individuals will develop definite set of skills and will inculcate skills such as managing crisis, developing strategic communication methods, demonstrating authoritative behaviour and being decisive and pragmatic during tough times.
The long-term value of an MBA makes sense for many students who are oriented on becoming better decision makers and risk takers and innovators. An MBA creates opportunity in the form of economic and career incentives and helps to develop invaluable relationships and experiences.
In conclusion, an MBA degree is extremely valuable within international business industry and for those who want to advance their careers locally or abroad and for those who want to make it big. It provides them with the confidence and the required skills to take on the business world and demonstrate their skills. Therefore, an MBA is a valuable tool that provides you with the correct skills to further develop and progress within the industry.
Westford Uni Online offers a variety of specialized programs that suit the requirements of South African students. Some of the most sought after specialization based on the region’s business landscape include – Accounting and Finance, Marketing, Entrepreneurship and Operations Management.
