Is an MBA Worthwhile?

March 26th, 2019 Business CareersCareer Advice

Wondering if studying a Master of Business Administration (MBA) is worth the expense, time, and effort involved? If you’re thinking about entering the competitive business world, an MBA is definitely worthwhile. It’ll offer you a wealth of knowledge and experience that can help you get an edge in job applications and work your way up in your career.

Want to know more about what an MBA is and why you should do one? Read on.

What’s an MBA?

The Master of Business Administration (MBA) is an internationally-recognised degree. It not only helps you develop the skills needed for a career in business and management, it’s also useful if you wish to pursue a managerial career in the government, the public sector, or a private industry.

An MBA usually includes core subjects like accounting, marketing, operations and economics, as well as elective subjects that allow you to pursue your own personal or professional interests. You might also have to complete an internship at a company, and this can help you increase your chances of getting a job after you finish the degree.

7 reasons you should get an MBA

1. Gain new skills and knowledge about business

You’ll learn about how to manage a business, including:

• Manufacturing, advertising, and selling products.
• Keeping a company’s finances healthy.
• Maintaining a company’s positive image.
• Gathering and interpreting industry data.
• Hiring the right people and motivating them.
• Creating company hierarchies.

You’ll also learn about the latest trends in international business and how to apply new management techniques.

2. Access a large business network

An MBA allows you to interact with business people who have great management experience, be it a colleague or teaching staff. You could also meet potential employers during an internship. What’s more, you can gain access to the alumni network of your MBA degree, and your connections will be able to give you a great overview of the business world.

3. Increase your salary

With an MBA, you could earn more than what you’d expect to earn from completing only a regular Master’s degree in business.

4. Start your own company or be the boss

An MBA helps you obtain an understanding of business practices that’s required to start a new business or help an existing business grow. Once you learn how to run a business you can become an entrepreneur, or you could land a middle-level or top-level management position within a big company and work your way up over time to become the boss.

5. Open the door to varied career opportunities

Once you graduate with an MBA, there’ll be many career opportunities open to you. You can become one of the following:

• Chief Executive Officer (CEO).
• Senior manager.
• An executive or in a leadership role.
• Company Director.
• Strategic Management Consultant.
• Senior Government Leader.
• Entrepreneur.

6. Experience new places and cultures

Since the MBA is an internationally-recognised degree, you can work for a company overseas after you graduate. So not only will you get to live in another country, you’ll also gain a new perspective on how business is handled in that country. This’ll broaden your business career prospects and cultural horizon.

7. Make a difference in the world

Some MBAs offer classes in areas like corporate social responsibility (CSR) and sustainability, and this can help you to transition into the non-profit or government sector. In turn, this allows you to make a positive difference in society.

Jobs that may require an MBA

There are many jobs that may require you to have an MBA, or having an MBA will be advantageous for, as the degree provides the necessary skills, knowledge, and experience needed to do the job well. These include:

• Accounting – Accountant, budget analyst, benefits manager, and financial controller.
• Finance – Financial adviser, financial services sales agent, investment banker, financial analyst, financial manager, and investment fund manager.
• Global management – Operations manager, global business manager, sales manager, and management consultant.
• Business operations – Business operations manager, supply chain manager, and management consultant.
• Healthcare management – Specialist doctors and nurses, hospital administrator, medical and health services manager, and health informatics manager.
• Human resources – Training and development manager, benefits manager, and human resources manager.
• Marketing – Advertising/promotions manager, public relations manager, sales manager, and marketing manager.
• Data analytics – Market researcher, data analyst, marketing analyst, and business analyst.
• Non-profit management – Social and community service manager, non-profit director, and fundraising manager.
• Information technology – IT director, chief technology officer, computer and information systems manager, information security analyst, and technology product manager.
• Regulatory functions – Compliance officer.

Start your career in business administration today

You can start your business career by enrolling in the International Career Institute’s Master of Business Administration (MBA). The course prepares you for becoming an outstanding business leader in our fast-changing world by giving you the key skills, experience, and competitive edge you need to succeed. Our MBA is a globally recognised qualification and is offered online, so you can study anywhere, anytime. Enrol today!

by Gladys Mae

Gladys Mae serves as the General Manager and Head of Student Services at the International Career Institute. Gladys holds a degree in Mass Communication - Broadcast Media from the University of San Jose-Recoletos. She joined ICI in 2010 and has over the past 12 years been instrumental in providing leadership and guidance to staff and students alike. Prior to joining ICI Gladys led a multifaceted career with key roles in the banking and business process outsourcing industries.