5 Ways an MBA Program Pays for Itself: What a Master of Business Administration Degree Can Do for Your Career
This article about a Master of Business Administration degree is presented by the University of Utah’s David Eccles School of Business.
You might be wondering if a Master of Business Administration (MBA) is a worthwhile investment. There have been huge changes to the economy from the pandemic, and companies value the leadership skills and business acumen that MBA programs develop. Here’s why an MBA more than pays for itself:
1. Flexibility and Variety with a Master of Business Administration Degree
MBA programs are designed for people from a variety of backgrounds. Part-time MBA programs allow students to keep their job. That way they pursue their degrees in the evenings, weekends, or online. That means you don’t have to forgo two years of income, and many companies offer tuition sponsorship options built into their benefits, which further drives down the cost for the degree.
Whether you are a mid-career professional seeking a flexible way to advance your career or a senior-level professional looking to gain leadership skills, there are a lot of options available to choose from. For students that require even more flexibility in how they complete their coursework, an online program is a way to meet that need while still providing value. Schools like the University of Utah’s David Eccles School of Business also offer non-degreed, skills-based classes for individuals or organizations looking for something more short-term or looking to refresh their toolkit. So that way you don’t need to worry if a degree is too big a commitment right now.
2. Personal Coaching and Networking Opportunities
Companies require, now more than ever, employees to specialize in their respective fields and chosen positions. With that said, while technical skills may get you in the door, your leadership skills may be what differentiate you from a group of equally technically-qualified coworkers. High-quality leaders are highly sought after in any company. People skills and management education give you a leg up.
3. Leadership and People Skills Development
Companies require employees to specialize more than ever in their respective fields and chosen positions. How you differentiate yourself and show you have the leadership skills sought after in many companies is just as important as the technical skills required for any job. High-quality leaders are highly sought after in any company. People skills and management education give you a leg up.
4. Career Advancement and Increase in Salary
Whether you are starting a new business, looking for a promotion, or simply want an increase in your salary, MBA programs illuminate the pathway to excel. Building a foundation of fundamental business skills can take your career to the next level while still maintaining a balance between your work and life commitments.
Participation in a degree is one of the best ways to get something more out of your profession. At the end of the day, it all comes down to how hard you want to not just hustle, but also apply what you have learned. Career advancement comes from more than just a desire. It comes from action.
5. Adaptability in Other Industries with Your Master of Business Administration Degree
Some of the traditional MBA graduates come from industries such as banking, corporate finance, and management consulting. But in other industries like sales, education, or medicine, an MBA may provide valuable knowledge. An MBA will equip you with the skills you need to be a leader and change-maker in any field.
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