Committing to study a MBA (Master of Business Administration) is by no means an easy decision to make. Weighing up the financial costs, time sacrificed, alongside the many other variables involved can be daunting. So why are so many people still convinced that MBA studies are a worthy investment and a necessary step in the pursuit of a successful career in business?
If you are curious here are 5 key reasons why you should complete an MBA.
Ever fancied a change of industry? Given the breadth of subjects taught in the MBA, it is the perfect tool for breaking your way into career options that were otherwise closed off. From accounting to marketing, you will have the opportunity to learn skills that will help you transcend you current career path, or build the knowledge to hone your abilities and move into a new industry.
Additionally, it has been shown that 37% of MBA graduates will be promoted soon after completing their MBA. If you have visions of taking up that C-Suite position, an MBA is a sure fire way to realign your career trajectory with this goal.
Throughout an MBA you will not only be learning from academics, but from fellow students who will be coming from a broad range of careers and backgrounds. However, MBA students always have one thing in common, that being highly motivated individuals with a keen interest in business leadership. Surrounding yourself with likeminded people is a great mechanism for pushing yourself hard and getting the best out of your studies. Brilliance inspires brilliance.
Your network throughout the MBA program will also become increasingly more beneficial upon graduation, as industry contacts are a vital component of any success story. Who you know really is frequently more important than what you know. Luckily, with an MBA you will have the best of both worlds.
Interested in a solo consulting career? Or has a recent promotion left you a bit out of your depth? The global recognition of the three golden letters MBA has the potential to silence any qualms or voices of doubt given by co-workers, clients, or business partners. An MBA is the ultimate form of certification in the business world and signifies commitment, knowledge, and professionalism.
4.Expand global knowledge
From case studies to international exchanges, there are countless opportunities to further develop your knowledge on different cultures and explore the opportunities and consequences of globalisation. You will be hard pressed finding a student or graduate who hasn’t found a global study experience a rewarding and fundamental part of their education. Do you really need any more of an excuse to travel the world?
At the end of the day, money talks. The median salary of MBA graduates globally is reportedly 90% higher than what the individual was earning prior to completing their MBA. What’s more, the earning potential of an MBA Graduate increases substantially over the course of their career, resulting in their estimated average lifetime earnings being $1 million (US dollars) higher than an individual without a post-graduate business degree. Based on these findings, the return on investment well and truly justifies the initial financial outlay required to study an MBA.
Article by The University of Adelaide News
Ngee Ann Academy, in partnership with The University of Adelaide, is offering the Master of Business Administration programme here in Singapore.
To find out more about the prestigious university and programme, click the image below.