If you are considering a postgraduate degree, you may be weighing the benefits against the cost and time investment associated with going back to school. Even knowing that an online format can save you a significant amount of time and money, you might still be wondering, why get an MBA? Because an informed decision is the best decision, here are six reasons why you should pursue an online MBA.
1. Increased Earning Potential
Since the entire point of careers is to earn money, it’s a definite bonus that an MBA will earn you more money than you would make otherwise. Although the numbers vary due to the vast range of career options available with an online MBA, the average salary for an individual with an MBA is $84,000, according to the Bureau of Labor Statistics (BLS). These numbers will also vary significantly based on geographic location due to cost of living variables.
2. Greater Chance of Being Promoted
Distinguishing yourself in a corporate environment is not easy, especially when you are competing with other colleagues. One of the surefire ways to let management know you are not only serious about your career but also willing to do what it takes to succeed is by earning your MBA. The degree gives you an almost automatic edge when it comes to earning opportunities and promotions. A survey of employers conducted by the Graduate Management Admission Council in January 2018 showed a greater share of companies expect to hire more specialists (40 percent) than generalists (28 percent), a shift from 2017 when the balance was roughly equal.
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3. Increased Hiring Rates
An MBA is a highly prestigious degree, so it would stand to reason that it would make your chances of being hired much higher. Not only can you get a job more easily with an MBA, but you will likely be able to land the job you prefer over other candidates who have not taken that extra step. Even if you decide to switch verticals, an MBA will get you in the door when you may not have been otherwise able to do so. A poll by the Graduate Management Admission Council found that among companies that offer internships, 66 percent planned to offer internships to MBA students in 2017, and of those companies, 82 percent planned to increase or maintain the number of MBA internship openings the following year.
4. Portable Skills
Although an MBA is considered solely related to business and finance, the underlying skills and theories you will pick up while earning your MBA are highly transferable to other sectors. With an MBA on your resume, you’re telling the world that you have valuable knowledge about business that is universal regardless of the vertical. Additionally, just by earning your MBA, you have demonstrated the ability to think critically, analyze data and exhibit the leadership skills necessary to succeed.
5. Extensive Business Know-How
Earning your MBA allows you to learn not only general business practices but also highly specialized concepts that will enable you to step up when others may falter. Not only will you be more likely than most to expertly evaluate data and calculate risks as part of an advanced decision-making process, but you will have the confidence in your abilities to exhibit the leadership that is so crucial in the business world.
6. More Opportunities for Networking
One of the benefits of pursuing an MBA is that you will likely get to know classmates who will one day be influential professionals like yourself. The ability to form a professional network with these people is invaluable as you collectively climb the ladder of success in your respective positions. One of the best reasons as to why get an MBA are these meaningful relationships. They can often pay dividends throughout your career, and the ability to use them to your advantage gives you a substantial lead.
Why Get an MBA from St. Ambrose University?
St. Ambrose University’s online MBA program is accredited by the Accreditation Council for Business Schools and Programs (ACBSP), an accolade reserved for programs that focus on quality teaching and exceptional student preparedness. We know the business world is fast-paced, and we’ll help you earn your degree quickly, too. Our program is an accelerated format featuring eight-week classes, which allows full-time students to earn their degrees in as few as 14 months.
Our online MBA will prepare you to accomplish your goals, and though the cost may seem daunting, we’ll connect you to a team member who can help answer your questions and create a financial plan to reach your goals. We feature competitive tuition for all our online programs to ensure you get the best education for a great price.