The decision to tackle a higher education in the world of business is certainly worth your consideration. While it will take a bit of money, a couple of years, and major dedication, the return on investment is well worth the effort. By going for a Masters in Business Administration (MBA), you could find your dream job faster, make plenty of money, and learn the skills that can keep you chugging up the corporate ladder.
To help you make the best decision, let’s look at considerations for choosing to continue your education and why taking the plunge may be the best idea for your career.
What is An MBA and What You’ll Need
After completing your initial degree program, you have the option of graduating and going out into the job market or continuing your education through a master’s program. When you get an MBA, you go beyond the basics and learn more about daily operations, managerial decision making, and you receive a larger focus on finance and leadership than you get when working towards your bachelor’s degree. For the best schooling, consider choosing some of the most highly regarded MBA programs, which can be found at Kellogg University, Adelphi University, and the Wharton School of the University of Pennsylvania.
Before applying for a program, you will have to consider your finances. In general, tuition for an MBA program can range between $50,000 to $80,000 for a two-year term. Most students will put this cost on student loans. Those who already have existing debts or a low credit score may fear that they will not be able to take out the extra loans. However, even with a less-than-stellar score, you can still apply for federal loans or find a co-signer who will add their name to the paperwork, which reduces the risk for the lender.
When you are accepted and begin work on your MBA, you will be given a lot of instruction on many different topics, so proper study habits will be essential. Set yourself up for success by finding quiet places to study and utilize the library whenever possible. If you are taking your classes online, you will need to create a suitable workspace at home, which may require transitioning a large closet or the space under the staircase into a dedicated study area.
You’ll Find a Good Job
Now that you know what goes into getting an MBA degree, what do you get out of it? In essence, if you work hard and absorb everything you are taught, you could leave school with the resources you need to find a dream job right off the bat with the income you need to live and pay back those student loans. One of the greatest benefits of working through a master’s degree is that you will often get on-site experience at some of the best companies in the area, and by impressing them then, you may have a better chance at a job with them later.
On top of that possibility, you will also create relationships with many people during your program who have the same drive for success that you do, and that includes both current students and alumni that you can reach out to for advice or job prospects. Just the fact that you have an MBA listed on your resume will help you land a job faster than others. Some industries are more likely to hire those with MBAs, including consulting firms and tech companies.
While landing your dream job is certainly the primary objective, finding one that also pays well certainly doesn’t hurt, and an MBA can help you make more than others that don’t have the extra schooling. From there, the skills you learned during your program can help you to reach higher positions within the company and increase your salary.
You’ll Learn Valuable Skills
While going through your MBA program, you will learn valuable skills that will help you to excel right out of the gate. For instance, as you work with other eager students and business professionals during your schooling, you will learn to improve your interpersonal skills along with how to work collaboratively with others. The ability to talk and actively listen to others will do wonders for you when working with upper management and the teams you lead during your employment.
You will also gain valuable soft skills that aren’t always taught in school, but which will help your career and separate you from the other employees. One of these is self-discipline. To get through the often tough and fast-paced world of an MBA program, you will need to be disciplined in your studies and how you conduct yourself in a professional environment. This skill will follow you out of the classroom and into the real world, and it will help you shine.
Align with better self-discipline comes improved time-management skills, which will be essential in the world of business. In almost any business environment, there is a lot to do and not a lot of time to do it in, so if you can get through your tasks with room to spare for additional needs, you will impress a lot of bosses.
As you go through an MBA program, you will begin to work with the eye of an entrepreneur. While others will just complete their work to get through the day, you will be able to see why certain business decisions are made and recommend tweaks to existing processes to increase sales. This ability to help your company thrive financially will certainly set you apart from the others.
Yes, the idea of going back to school can be daunting, but it can also be incredibly rewarding. After you have weighed the pros and cons, consider taking the plunge into continued education. The rewards are often well worth the work.