Widely considered to be one of the most important qualifications aspiring business leaders can earn, completing a Master of Business Administration program is a significant achievement that equips you with advanced knowledge, a broad array of skills, and a knowledgeable professional network that can result in your career really going places.
If you’re asking yourself the question “Why should I get an MBA?”, rest assured that whatever your career aspirations, an MBA can be invaluable in helping you achieve them.
This article discusses what are the benefits of getting an MBA, demonstrating why this qualification can make you a highly investable leader.
1. You expand your professional network
MBA programs have networking opportunities at their core. In addition to the connections you will make with fellow students, MBA programs often take advantage of guest lectures from industry leaders or opportunities to network with them as part of your studies.
Consequently, MBA networking can expose you to plenty of influential people who can help develop your career. They can open new doors and lead to incredible professional opportunities further down the line.
2. You develop leadership abilities
MBAs are heavily focused on leadership development. These skills are honed through courses, case studies and group coursework, developing your ability to lead people, manage processes, and take charge of organizations.
This, along with the time spent learning from your tutors and connecting with your network, will enable you to develop your own leadership style. This will ensure that you foster a natural and comfortable ability to lead people and organizations in a variety of different settings.
3. It promotes personal development
An MBA is a challenging program to undertake. In addition to all the business and leadership acumen you will learn, you will also develop yourself personally through the challenges you will be exposed to.
This can include a broader perspective on organizational issues, discovery of personal and professional values, higher levels of resilience, self-motivation, enhanced communication skills, and improved self-confidence.
4. It increases your earning potential
An MBA demonstrates to employers that you have the skills and development needed to operate at high levels, and this can improve your earning potential.
Increased earnings after completing an MBA program are very common; for example, MBA alumni at the University of Washington (Foster) reported an average annual earnings increase of $38,000.
The technical skills gained during an MBA can give employers plenty of justification to raise your salary.
5. You can boost your career credibility
The hard work, effort and investment needed to undertake an MBA demonstrates to employers that you take your career and development seriously, making you professionally credible.
Additionally, because completing an MBA shows that you have the skills and knowledge needed to take on the toughest business challenges, it signals to employers that you are professionally competent and a safe pair of hands.
6. It creates better career opportunities
MBA programs offer students enhanced career development opportunities through a variety of methods.
Firstly, employers will often prioritize MBA graduates for leadership development roles because of the unique set of skills they possess. Additionally, MBA programs train students in a broad and detailed set of skills that can be transferred across different industries and sectors. Finally, the networking opportunities an MBA provides mean that you will have access to many people who can really help your career go places.
7. You develop relevant skills
MBA programs cover a comprehensive suite of skills that are relevant in many different professional contexts, with the aim of ensuring that MBA graduates are well-rounded and equipped with the soft and hard skills needed to thrive in challenging environments at very high levels.
The skills trained include business acumen, conflict resolution, change management, finance and accounting, economics, strategic thinking, marketing, and organizational development. These skills are taught in a variety of different ways and honed over the course of the program so that students can thoroughly explore each topic.
8. It boosts your confidence
If your MBA is being sponsored by your employer, this can be a huge confidence boost, as it shows they trust in your abilities. Nevertheless, simply completing an MBA under your own steam is such an impressive feat that it’s a huge confidence boost when you graduate.
Equally, the path to an MBA is designed to get ever more complicated and arduous, so as you work through the program and complete various modules, this will also be incredibly self-motivating as you achieve more and more. This sense of achievement will extend into the workplace, giving you a sense of drive and fulfillment that will give you extra self-motivation at work.
9. It offers flexibility
Unlike many other business-related courses, an MBA offers a huge amount of flexibility. This is because the subjects taught as part of an MBA cover so many different areas that graduates leave the program with plenty of options in various professions across a variety of different industries.
MBAs are also renowned for offering flexibility in terms of how they are taught. In addition to part-time and full-time MBAs, there are executive MBA programs and fully online ones too. This means that you can earn this qualification while having the coursework fit around your work or personal commitments.
10. It provides you with greater job security
MBA programs provide a level of specialist knowledge that remains relevant no matter how industries change and what employers look for in a candidate’s skill profile. The qualification stands the test of time and is consistently in demand by employers, contributing to your job security.
The level of attainment needed to complete an MBA, as well as the challenging curriculum and the various skills it imparts, means that you’re professionally valuable to employers. This might result in you being at less risk of redundancy when economic times are tough.
11. It gives you a global perspective
MBA programs are designed to give learners a global perspective and help them operate at high standards in different regions of the world. The coursework in an MBA program is designed to get you working with global business leaders, discuss case studies from different countries, and work with international students.
By benefiting from these resources, you gain a global mindset. This is vital to allow you to operate in a corporate world that is increasingly international and depends more on cross-regional working relationships than ever before.
12. It improves your technology skills
MBAs can improve your technology skills in two main ways.
Firstly, you’ll be taught using technology, such as cloud-based file sharing and electronic lectures, meaning that you become proficient in using such tools. Secondly, many MBA subjects — and, in some cases, whole curricula — focus on using technology in the workplace and will provide you with the skills and knowledge needed to benefit from them in leadership roles.
Examples of such subjects are data analytics, digital marketing and finance technology. With employers highly valuing candidates who can demonstrate proficiency in using technology, these MBA subjects will help set you head and shoulders above the competition.
13. It cultivates self-discipline
Attaining an MBA doesn’t happen by accident. It requires a lot of hard work, personal sacrifice, resilience and perseverance. The effort going into achieving an MBA will impart tremendous self-discipline into those who succeed. You also become disciplined in how you manage your time, as completing an MBA will require you to deftly balance work life, social life, and your studies.
You will be exercising self-discipline by using techniques learned during your MBA, such as goal setting, self-motivation and strategy. These skills and a high level of self-discipline are vital in executing leadership roles effectively.
14. You develop your expertise
Whereas MBAs are designed to train students on a wide array of leadership skills to enable them to succeed in a variety of settings, they can also provide opportunities for learners to specialize in certain areas through elective modules, specialist courses or projects that focus on a specific area.
By using your MBA to specialize in a certain area, you can take your expertise to the next level, becoming a subject matter expert in a niche area such as talent development, finance technology or marketing. Having industry experts is valuable to any organization, and for you to be regarded as one can turbocharge your career, leading to many professional opportunities.
15. You build personality and soft skills
Many MBA graduates cite how the soft skills they learned were equally as important as the hard skills trained on the program. Such skills can include communication, teamwork, emotional intelligence or time management, all critical for effective organizational leadership.
The way MBAs are taught, with an emphasis on group activities, collaboration, discussions and coursework, means that you get plenty of opportunities to hone these soft skills. You also get a chance to develop your approach and personality as a leader.
This means that when the time comes to move into a leadership role, you can demonstrate your authentic self to recruiters, giving you a competitive edge in the process and making you a strong and well-rounded leader.
Final thoughts
MBAs go far beyond a typical qualification; they’re an apex achievement that can transform your professional career and also contribute immeasurably to your personal growth.
These 15 advantages demonstrate all the different ways that an MBA can work for you in terms of career benefits, skills, earnings and networking. Essentially, an MBA provides you with sustainable success, and whatever stage of your career you’re at, or whatever reasons you have to pursue this qualification, completing it can be a powerful catalyst for future success.
Can you think of any other benefits of completing an MBA? Let us know in the comments section below.
This article is a complete update of an earlier version originally published on June 26, 2017.
