16 Advantages of an MBA
Earning a professional business degree (MBA) can have some expected and unexpected benefits in your life. Those benefits often extend beyond your career and professional goals and apply to your non-work life as well.
If you’re indecisive about pursuing an MBA considering the benefits of earning a 1 Year MBA degree against its cost, some of them may surprise you. Here are our compilation of 16 Advantages of an MBA
Benefits of an MBA
1. Increased self-confidence:
One study surveyed MBA graduates about their perceived financial and non-financial costs and benefits of their professional degree. Surprisingly, increased confidence was one of the highest-weighing and most important non-financial benefits of earning an MBA degree.
The feeling of accomplishment, the education and skillsets gained by earning this degree can improve anyone’s confidence as they make their way through the business world—and through life. By earning this degree while also balancing work, family, social life, and other personal commitments (and not losing your sanity), you will find an immense sense of reward and personal achievement.
There are different ways you can establish credibility in your firm and your industry. You could volunteer for a project at work that takes you out of your comfort zone and shows off your hidden talents to company management. You could begin a solo side business or co-found one with family or friends to establish early credibility as a budding entrepreneur. But the academic version of street credibility in the business world is the MBA degree.
3. Transferable skills
Much of the knowledge, hard and soft skills you gain from earning your 1 Year MBA degree is applicable across many industries. You become more skilled and versatile regardless of your industry or job title thanks to widely applicable qualities like leadership, critical and analytical thinking, creativity, and communication. Unlike career-specific advanced degrees like a teaching credential or a medical degree, an MBA can transfer easily to many industries and offer you various careers throughout your life.
MBA graduates often possess an innate and insatiable curiosity. They know there is always something more to learn, and they endeavour to learn it. Earning the degree hones their ability to dig into competitive analyses, study emerging industries, and stay on top of all the newest developments, technologies, and trends in their industry.
As Albert Einstein said,
“The important thing is not to stop questioning. Curiosity has its reason for existing.”
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5. Strategic Thinking
The strategic thinking skills you learn while earning your MBA are not only applicable in the business world but across various areas of your life, such as your personal goals and finances. You’ll be able to think outside-the-box and consider options or solutions in your mind while you work to fix a problem.
6. Better Communication
MBA graduates often find themselves communicating better at work with colleagues, bosses, or employees. But these communication skills can also apply at home with your significant other, kids, parents, or siblings, as well as in social situations such as networking events or company functions. Being a better communicator is essential in everyday life, no matter where or when you communicate your needs and ideas for solutions.
To earn your 1 Year MBA degree, you have to attend classes and study sessions, complete assignments on time, and push yourself to work through rigorous, complex coursework. Possibly, you have to do this while you continue to work. All of this takes a level of self-discipline that you may not take to naturally but can cultivate with time and effort while working through the MBA program.
8. Better Time Management
A side effect of better self-discipline is the ability to manage time better. That could mean a better understanding of your capabilities for producing work in a specific time, so you don’t overextend yourself, burn yourself out, or overcommit and underdeliver. It could also mean being more efficient during work hours to get more done in less time or with less effort.
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9. Broader Worldview
While earning your MBA, you address big business issues and real-world business challenges which moulds and build on your ability to look beyond your role and see how organisations operate as a whole.
It also increases your exposure to diverse perspectives on global, social, and business issues as you collaborate with students whose backgrounds, experiences, and career goals are different from yours.
10. Building a Network
While earning your MBA degree, you come into contact with faculty and fellow students and alumni of the program who begin to form or add to your existing network of colleagues. These include people both within your industry, your discipline and outside of it, and they often spread out across the world, which can translate to promising opportunities in the future.
11. Job Opportunities
Many companies now require or prefer candidates with an MBA for several roles or positions. Earning this degree significantly expands the number of potential job opportunities for which you qualify.
12. Differentiation as a Job Candidate
The 1 Year MBA isn’t a minimum requirement but the degree can be a powerful differentiator when you’re competing against dozens of candidates all aiming for the same position, especially when they are all impressive in their own way. The fact that you’ve earned an MBA degree is likely to take your application up a notch in the minds of potential employers.
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13. A Re-energised Career
Sometimes people get stuck in a blind career-chase. Earning an MBA degree can pull you out of a funk, re-energise past career goals, or help you uncover new ones as you work through the program with a handful of the knowledge, hard work and soft skills you gain. You become more skilled and versatile with very applicable qualities like leadership, critical and analytical thinking, creativity, and communication which are very helpful, Whether you’re trying to improve your job position and salary options, or enter the world of entrepreneurialism, this experience could be the motivation you need to light up a career path.
The financial benefits are generally why many people enter MBA programs, since higher-income and signing bonuses are some of the most significant benefits of earning your MBA, as a result of its hierarchy in the labor market.
15. Better Management of Personal Finances
The strategic thinking skills you learn while earning your MBA are very applicable in the business world and across various areas of your life, such as your personal goals and finances. You’ll be able to think outside-the-box. Application of these skills to personal finances and investments will help achieve a sharpened financial acumen
The coursework for an MBA may solely be based on facts and numbers. Still, the 1 Year MBA experience often helps to sharpen oneself and one’s creative thinking and also create inspiring creative endeavours for MBA graduates. Thinking outside the box is just as important for business as it is for art or music. Same as the application of strategic thinking which is very fruitful.
Earning a Master’s in Business Administration helps professional to attain professionalism. This degree gives it student a step up in their career, enhances their competence and skills, teaching them how to manage a company with global visions for businesses.
Prepping for your MBA program is a thrilling time. Keep in mind that your MBA application is complete, and your letters of recommendation are a part of the success story. For more details about the Importance of Online MBA and online education, or what to do when you’re ready to apply, feel free to reach out to our Admissions office today:
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