According to Forbes, undertaking an MBA at the early stages of your career can deliver immense dividends. Global ranking indicates that three years post graduating individuals with an MBA will outperform their senior colleagues. A study conducted in 2015 also stated individuals beginning their MBA before the age of 24 saw their salary increase by 145% after they graduated the MBA program.
The ROI (Return on Investment) of a postgraduate degree is at an all-time high, especially for an MBA, because it can open new avenues and provide in demand, transferable skills in the workplace.
Even for a professional currently at mid-senior level in an organisation, an MBA can maximise their current skills by introducing an exclusive network that connects professionals on an international level.
Broadly speaking there are a variety of reasons why one would pursue an MBA. Younger participants that have just completed an undergraduate degree may be motivated by the career and salary prospects when attaining an MBA. While the mid-senior level counterparts could be driven by upskilling, for example, building on their management skills. For prospective students over 31, Forbes states that they may pursue an MBA to propel their primary objectives to progress into senior-level positions.
Four ways an MBA can progress your career:
Strong networking skills can be the key to success in business, However, this concept doesn’t come naturally to everyone. For the most part, networking is all about building important professional relationships. The network of an MBA program is connected to the alumni, partners and academic staff. Strategic networking can significantly increase career and business opportunities, but the fundamentals of it are that both parties involved in it are mutually beneficial.
Whether you are at the peak of your career or the beginning, the skills and knowledge gained in an MBA program can be the foundation of a successful career. Earning an MBA is applicable across most industries and can lead students to a more versatile career. Transferable skills gained from an MBA such as communication, critical thinking and time-management are all hugely beneficial in all industries.
Over 50% of MBA graduates in the world hold senior management positions. According to Bloomberg, top tier-1 international companies like Deloitte. Ernst & Young, McKinsey are always on the hunt for individuals that hold an MBA. As such, courses such as corporate strategy and finance can put you ahead of the pace, helping you to leverage new opportunities.
Globalisation is at the heart of the contemporary business environment. Possessing an MBA that holds international merit, and is widely accepted internationally can be the deciding factor between candidates when interviewing for a position in a global company.