The choice of doing an MBA degree is a very good one and a giant step for all who aspire to become managers be it now or later. In any case, some aspiring managers have challenges with choosing whether there are very good reasons to do an MBA degree or wonder the Advantages of Getting an MBA Degree.
Most of these people who wish to become managers go through a series of rhetorical questions within themselves. They ask, “Is pursuing an MBA degree a good choice? Is doing an MBA degree at a business school abroad a good choice? All these questions look towards answering the question “Is an MBA degree worth it”? The answer is YES! This is because to enter the competitive business world today and compete favourably, you need all tools necessary.
Hence, what can you do with an MBA? In this post, you are going to read every information needed to answer your question. This is why we put out the top 11 very good reasons to do an MBA degree. In this post also you will learn what an MBA is all about. If you have ever asked, What is MBA… then we have the answer here.
MBA offers you a whole lot of advantages if you aspire to be a manager. It is therefore recommended that you get your MBA degree from well-regarded business schools.
Table of Contents
Advantages of Getting an MBA Degree
There are many advantages associated with getting an MBA degree. Some of these advantages are:
- Getting a high MBA salary after studies/graduation
- You can become your own employer (self-employment)
- An MBA degree enables you to land a top management position in any management firm.
- It also equips you with confidence in business and guarantees ease of doing business.
- Another advantage of getting an MBA is to develop a strong professional network.
- It gives an in-depth knowledge of the strategies you need to climb the rung of success even higher.
These are just a few advantages of getting an MBA degree.
Top 11 Very Good Reasons To Do An MBA Degree
As stated earlier, if you need to know or need to be clarified and also get educated on the very good reasons to do an MBA degree, here are the top 11. But before we get started, let us give you a detailed overview of what an MBA degree is.
What You Need to Know About MBA Degree
Education is a continuous affair and as such getting a higher qualification is inevitable and also worthy of commendation. A steady rise in a chosen career can be achieved with a dedication to that career.
Students who consider a possible change in career or intend to advance in different business management courses may see getting an MBA degree inevitable. In a nutshell, getting an MBA
One interesting thing about an MBA degree is that one can get it while working from home. That is, you can get an MBA Online or do an MBA program Online. An MBA degree can also be gotten from a non-local school.
In the coming paragraphs, we look at an MBA degree: Everything you need to know about it. From the meaning, the duration for getting an MBA degree, requirements for getting an MBA etc.
There is no doubt that an MBA degree enables students to acquire the basic leadership skills necessary to manage a team, projects or tasks. It guarantees the ability to analyze accurately and efficiently large information contents and quickly proffer solutions to problems relating to business.
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All You Need to Know about an MBA Degree
What is the meaning of an MBA?
MBA is simply an acronym for Masters of Business Administration. It is the basis for Doctor of Business Administration (DBA). Candidates who attained MBA oftentimes quit the academic pursuit. While those who see reasons to carry on in business research continue to DBA.
Requirements for MBA Degree
MBA applicants who already have a certain level of work experience are favoured more when consideration is made. Nevertheless, there are programs that are intended for students and novices.
The basic requirements for an MBA degree include:
- Essays (motivation letter, statement of purpose)
- Video interviews (depending on the school)
- Referee letters and
- Standardised test results (IELTS, GMAT or GRE scores).
These at times are optional as different institutions have different requirements. In some options, MBA candidates are not required to submit results for the entrance examination.
What is the duration of an MBA?
Just like any other Masters degree, it takes two years to acquire an MBA in the full-time study program. In some cases, as seen in most non-US business schools, there are some accelerated MBA full-time study programs that can be achieved within a calendar year.
Apart from the full-time study programs, there are part-time and executive MBA programs, which are designed for candidates who have a full-time job already. Others can obtain an Online MBA or study an MBA program online.
NB: Full-time, Part-time and Executive MBA study programs are the basic types of MBA degrees.
How much does an MBA cost?
The cost of annual tuition in most business schools varies according to schools and the number of units the students offer. It is estimated that at average, the annual tuition fee for an MBA is $50,000
Although these fees also vary from private to public schools. These variances are also a result of some scholarships offered to students in different categories. These scholarships range from part-time to full-time tuition fees scholarships.
What are the required courses in MBA?
MBA just like other business management courses touches across
- Marketing management
- Business Administration
- Business Law and Policy
- Computer Practice
- Cost and Management
- Human Resource Management
- Operational Management Entrepreneurship.
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Specialties in MBA
Graduates of MBA can comfortably find themselves fitted in a field of business. This gives the opportunity over others to major in finance and technology as they may choose.
Specialization is achieved with satisfaction when the holders of these degrees find the best skills that suit them most. This will inevitably increase their productivity.
What is the Basic Salary of an MBA holder?
The amount an MBA holder earns varies from that of another. Nonetheless, the name of the Business school from which the candidate graduated also counts in his pay.
In some cases, MBA holders earn within $50,000 – $150,000 in salaries and bonuses. This is also dependent on the firm which the MBA degree holder finds himself.
The workers in consultancy firms earn better than those who work in non-profit or non-governmental organizations (NGOs).
Top 11 Reasons Why You Need To Do An MBA Degree
- You Can Study an MBA at Your Convenience – Part-time or Online
- An MBA Degree grants you access to an extensive Business Network
- Develop Advanced and Flexible Management Skills
- You can start your own Management Company
- There is no age limitation in MBA Degree (Any person can study at any age)
- Access to Business Schools all over the world.
- An MBA Degree guarantees a lot MBA specializations/Specialties
- MBA salary is attractive
- Not difficult to graduate
- Suitable for Change of Career
- Wide range of business/job opportunities
You Can Study an MBA at Your Convenience – Part-time or Online
There is no difficulty with choosing where and how to get an MBA degree. This is because the major benefit of the provision of an online MBA is convenience. In terms of getting an MBA with your tight schedule, the online MBA is the best alternative. Getting occupied with work or other and other businesses/activities may tend to hamper your desire to start an MBA. But don’t worry you are covered.
Your tight schedule ought not to play a role in you not expanding your knowledge about business and management. With the provision of online MBA, you can study at your own pace and yet get access to lecture/course materials anywhere you are. These online MBA courses come with full accreditation. This means acquiring an online MBA degree has the same relevance as a campus/offline MBA degree. The most important thing to do before enrolling for an MBA degree in any school is to check whether or not the school is accredited. This is to avoid being scammed.
Advantages of Online MBA Degree
Getting an MBA degree online comes with numerous advantages. A few of the advantages of online MBA degree are:
- Lower tuition fees
- Paying only the stipulated tuition cost, no additional costs
- You save the cost of accommodation on campus
- No stress of early morning hassle to go to school
- No VISA payment (if you are travelling abroad).
These are generally the advantages of online classes.
Universities That Offer Online MBA Degree
There are many top-ranking universities in the world where you can also get an online MBA Degree. This is Very Good Reason to do an MBA degree online. Some of these universities are;
Nottingham Trent University
The online MBA degree at Nottingham Trent University is quite an innovative and rigorous one. It challenges the students to strengthen their managerial skills as well as equip them to face contemporary issues. This program is entirely done online and as such you have no business with getting in contact with any one – student or teacher.
Nottingham Forest University Online MBA Degree comes with two certificates after completion of studies. The first is the Master’s Degree certificate and secondly a CMI level 7 Diploma in Strategic Management and Leadership. This is because the university partners with the Chartered Management Institute.
There are also scholarships available for online MBA students from Africa, India and Middle East. This scholarship is worth £3,400. The online MBA Degree in Nottingham Trent University is about a period of 32 months (2 years and 8 months).
Visit Home Page for more information about Nottingham Trent University Online MBA Degree.
University of Birmingham
The Online MBA at the University of Birmingham is centred to address the challenges facing carrying out a responsible and successful business. It is primarily designed for aspiring managers and professionals who have wealth of experience in management. The online MBA at the University of Birmingham provides a clearer understanding of business theory, leadership and practice. The core principles of the online MBA at the University of Birmingham are Curiosity and Thought Leadership.
The course work covers the core areas of business such as
- Operation management
It also comes with career specialization for candidates who are within the healthcare management. For more information about the Online MBA at the University of Birmingham, Visit the Home Page
The Arden MBA is driven by the zeal to transform professionals through encouragements towards leaving the conventional ways of thinking and doing thinking. This is to gain a competitive edge in the management industry. It is a program that is based on learning-by-doing methods, hence attention is paid to the students to directly apply what they learn in their daily activities. This is effective in their immediate impact in their organizations.
The Arden MBA focuses on the development of holistic management skills that are applicable in varied range of businesses. These skills are based on current business requirements to cope with the challenges faced by businesses today.
Visit Arden University Online MBA Home
Tel Aviv University
The Tel Aviv University Online MBA focuses on technology and uses a multi-disciplinary system to further business studies. Due to the focus on innovative skills for the students to explore experimental learning, the Coller School of Management stands out among equals. Earning an MBA degree online from Tel Aviv University enables you to pursue to meet up with your career goals. This is a Very Good Reason to do an MBA Degree.
Based in Israel, the Coller Business School at Tel Aviv University is the first accredited by the Association of Advance Collegiate Schools of Business. This makes it rank among the top 10% in the world. An online MBA degree from Tel Aviv University is globally recognized. With it, you are assured of taking the business world by storm.
Visit Tel Aviv University Online MBA Home
Lebanese American University
At the Lebanese American University, the online MBA covers the specific and intriguing areas of study such as;
- Foundational tools
- Practical experience
- Global connections are necessary for one to compete and succeed at the international level.
The Lebanese-American University draws insight from experts whose research-driven attitudes are top-notch. Online students are presented with the golden opportunity to customize their studies. This helps them to acquire/build specialist knowledge through a series of elective courses offered. These skills acquired come in handy in competing with the big guns in their workplace as well as becoming business leaders who will transform the world.
Visit Lebanese-American University Online MBA Home
IUBH University of Applied Science
The goal of the Online MBA at the IUBH University is to enable scholars to make a successful career on the international level. It trains students to prepare wholly for the demanding tasks ahead at the middle of their career. As students climb to the upper echelon of their careers, for example, when they become business development managers, brand managers or consultants, this course prepares them to meet the demands.
The curriculum prepares the students to learn how to interpret economic trends, develop corporate strategies and also new business ideas. At IUBH University, there are many areas of specialization for MBA degree students. One which stands IUBH University out is the Specialization in Digital insurance which is in cooperation with the German Insurance Academy (DVA).
Visit IUBH University Online MBA Home
Another Very Good Reason To Do An MBA Degree is that it offers you an opportunity to take a part-time course. Taking up a part-time MBA program will enable you to make judicious use of your time and resources. The major disadvantage of the part-time MBA program is the extension in the duration of the program. Studying part-time will only increase your study duration from 2 years making you spend more years. Well, this is generally the case with all part-time students.
It also has an advantage, part-time MBA gives you the space to keep working and earning while studying without having to put your personal life on hold. Part-time MBA programs also offer or makes provisions for weekend classes. There is also no fixed hours, this means you can fix your studies how it would suit your schedule.
An MBA Degree Grants You Access To An Extensive Business Network
This is one of the reasons for postgraduate studies, and it is also, a very good reason why you should do an MBA. The opportunity to come in contact and interact with fellow students, professors (lecturers) and experienced professional is a good reason to do an MBA. Because this opportunity will expand your managerial skills and improve your ease of doing business.
With a large body of alumni network, you get connected to a larger understanding of business. You can also get a contact that can change your financial status forever. This is a good reason to study for an MNA degree.
Develop Advanced and Flexible Management Skills
Getting an MBA degree is a step closer to fulfilling your dreams. In any career path you choose, further studies increase your chances of improved development. This is no exception to an MBA program. To keep a company successful and flying, getting an MBA degree is inevitable. Studying for an MBA degree is a good step to stepping out of your self-cage. It also prepares you to change or switch businesses. You will seem unfazed by the occasional changes that happen.
In the case of loss of job, your experiences can count to your advantage. You get the chance to make use of economic changes and adapt easily to another business if need be.
You Can Start Your Own Management Company From Scratch
Most times, when MBA Degree is mentioned, many people assume that it is for aspiring entrepreneurs. This is mostly because most MBA students want to become entrepreneurs and learn how to start and grow a business. MBA degree enables them to turn their big dreams into visual reality. Hence getting an MBA degree is a sure bet to becoming a successful entrepreneur.
The ability to ensure that a business grows and stands the test of time is acquired through training. Staying under the tutelage of professors and professionals who have engaged in one business or the other at one time or another can be a step closer to starting up a lasting business empire. This is because you have learnt the ‘dos’ and ‘don’ts’ of starting and running a business from these professionals.
Also, as stated in number two of these Top 11 Very Good Reasons To Do An MBA Degree, your network of friends can come in handy. You can as well find MBA colleagues with whom you share the same interests with and partner with them. Most start-ups fail due to a lack of reliable partners. Hence, if amongst your peers, you find a reliable partner, then a joint venture is realistic.
Just as technological evolution is taking place, most people are gradually becoming entrepreneurs, it is, therefore, necessary to do an MBA Degree. This will give you an edge when competing with other entrepreneurs.
There is no age limitation in MBA Degree (Any person can study at any age)
The one good thing about Business schools is that age is never a limiting factor. You may ask, what is the best age for MBA? Is age 30 too old to do an MBA? Is age 40 too old to do an MBA? Well, the first line of this paragraph has answered your question. There is no age limit for an MBA degree. At most times, age is never considered when admitting new MBA students.
What counts most is the full-time job experience and this is what older students have in bulk. They have been on the job market for quite a very long time, hence experience is their name. The limited number of people with average age within 30 – 40 is due to their lack of interest in doing an MBA not actually age restrictions from universities.
Talking about factors that can limit you, you talk about your GMAT score. But if your GMAT score is good then there is no problem with you picking up your MBA from. Another thing to consider would be your convincing power. You have to convince the admission committee that you have all it takes to do an MBA degree. Also that you have a long-term plan.
In any case, if you think that your age is a factor, there is an alternative then, the Executive MBA (EMBA). It is majorly for career progression rather than career switch. One disadvantage of the EMBA is that it has fewer networking prospects owing to the limited time you will spend with your colleagues.
Access to Business Schools All Over The World.
This is another very good reason to do an MBA. Most times students choose to go abroad to do an MBA. This is because it gives them an opportunity to learn how businesses are run in these countries. They also experience what it feels like to live in a foreign country. With this, their mentality toward certain cultural orientations will change and they learn new ways of doing things.
Studying for an MBA degree abroad also provides an avenue to interact with companies abroad. This way you can be hired and retained to live and work there after graduation. Many countries are known for their successes in their MBA programs. Nevertheless, it is right to consider the nations with the best MBA specializations that suit your needs. Other factors to consider when choosing a country for an MBA include;
- Tuition fee
- Cost of living expenses
- Employment opportunities etc.
Best Countries to do an MBA
Some countries are considered the best countries to do an MBA. This is because these countries have accredited world ranking universities that offer MBA degrees. Here are the best countries to do an MBA.
The United States
The United States ranks top in terms of MBA degrees. With one of the biggest economies in the world, the USA offers diverse career specializations and a whopping salary to match it. Without any form of sentiment, a diploma in MBA from any accredited American University can land you a job in any country.
Here are some of the Accredited MBA Schools in the USA
- Stanford University
- University of Chicago (Booth)
- University of Pennsylvania (Wharton)
- Harvard University
In terms of affordable MBA programs, Canada tops both the USA, the UK and even Australia. Canadian MBA schools are also found among the top MBA schools in the world. This is why it is also a very good destination for international students who wish to do an MBA degree. Some of the top-ranking MBA schools in Canada include.
- The University of Toronto
- University of British Columbia (UBC)
- University of Alberta
Other Countries to do an MBA are:
- The United Kingdom
- China and
An MBA Degree guarantees a lot of MBA specializations/Specialties
Another very good reason to do an MBA is that MBA provides you with a variety of options to choose from in terms of areas of specialization. In order to satisfy students’ demands, many MBA schools offer different MBA programs. This enables you to specialize in any area of your choice thereby guaranteeing you success in the business world.
Top MBA Specializations
Some of these areas of MBA specialization include.
- International Business
- General Management
- Human Resources
- IT Management
- Strategic Management
These areas of specialization are meant for you to advance your career, hence there is nothing stopping you from doing an MBA degree. With all these, you have a very good reason to do an MBA degree.
MBA Salary Is Attractive
One of the reasons why so many go straightaway to do an MBA is because it guarantees an attractive salary. This is one benefit of an MBA degree that so many MBA graduates hide from you. When compared with an employee who is paid with a regular Master’s degree, the MBA holder is paid more. The earning is at times estimated to be 2x the regular earning of a regular Master’s degree holder.
Average Salaries of MBA Degree Holders
The average salaries for MBA graduates differ with specialties and also the country of residence. On average, the MBA degree holder earns as much as $123,000 annually in Switzerland. While in the United States, it is about $102,000 annually. In Canada, the annual salary is around $99,000. The same goes in Australia and France with a slight difference. Other countries include
- UK – $92,000
- Italy – $86,000
- Singapore – $82,000
- Germany – $77,000
Which MBA Degrees Pays More?
In all, every MBA degree is worth doing because they all pay well. But in some cases, some industries offer more pays than others. In a recent ranking by The U.S News, the following Industries pay more to MBA graduates.
- Financial Services
- Consumer Packaged Goods
So focusing your attention on getting employed in any of these industries will definitely be the goal. This can be achieved by choosing an MBA program that focuses on the related skills to work in any of these industries. All the same, all MBA degrees pay well and you do not only need an MBA to succeed.
Not Difficult to Graduate
People tend to run away from doing an MBA because, they feel it is quite difficult to graduate. This could be a result of poor consultations. They may have asked the wrong people about MBA programs or encountered those who have spent much time doing an MBA. In any case, finishing an MBA at the appointed time is a choice for individuals.
Some people, because of the ‘complicated nature’ of MBA, tend to ignore important things they ought to do. People who develop new problem-solving techniques tend to solve their problems faster and bounce out of difficult situations as if nothing happened.
A professional business person would always look for better and fast solutions to problems. Summarily, MBA is not difficult. So, it is still you who has to decide whether it is difficult or not by your approach. Most Business Management courses are included in the curriculum, so the courses are not strange, but familiar.
Suitable for Change of Career
Of the reasons why you need to do an MBA Degree, the suitability of MBA degree of career change is what you should really consider. One advantage presented by the numerous specialties seen in MBA is the freedom to choose what you want to do. The ability to make these choices at your comfort is a great gift if you wish to change or switch careers.
The type of career you pursue depends on the type of MBA program you did. Those who offer full-time/part-time programs are disposed to make more choices than those who did online MBA. Full-time or part-time graduates can land high-level management positions at big firms.
Wide Range Of Business/Job Opportunities
In case you seek another very good reason to do an MBA, then this it. If you have ever had questions about what exactly you can do with an MBA degree or a possible job you can do with an MBA degree, then this part answers your question. The following are popular job opportunities for you with an MBA degree;
- Business Operation Manager
- Market Researcher/Market research Analyst
- Human Resources Manager
- Management Analyst etc.
The following are also top industries or firms where you can be hired to work as an MBA degree holder. They are the largest/highest employers of MBA graduates.
- JP Morgan etc.
Having listed Top 11 Very Good Reasons To Do An MBA Degree, you now have no reason not to get started. Take your time and analyze all that has been written. Having read this far means you have the patience to start up an MBA program. Do not hesitate, no time is too late, Start Now!!!
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