7 Reasons Why Business Masters Are Worth The Investment

Going to business school isn't cheap. For business master's students in Europe, programs can cost anywhere between $20k and $60k: a significant investment for candidates straight after a bachelor's degree.

But business master's students can typically expect a strong return on their investment. For example, the master's in management (MiM) program at WHU Otto Beisheim School of Management in Germany has tuition fees of €32,200 (US$35,540), but the average salary three years after graduating is US$128,868.

The benefits of a master's go way beyond the financial aspect, however. BusinessBecause spoke to admissions directors from Europe's top business master's programs to understand exactly why a business master's is worth the investment. 

1. Gain a competitive edge

Amy Duckworth, founder of Empower Admissions Consulting

As the proportion of the workforce holding a bachelor's degree has steadily risen over the years, so too has the value of a master's. Investing in a master's can give you the competitive edge to stand out in an increasingly competitive job market.

“Entering the job market and starting to forge a career in your chosen area is tough," says Amy. "It is very competitive, and it can feel difficult to navigate. A business master's from a top institution will allow you to broaden your experience, calibrate your career goals and differentiate yourself in the job market.”

2. Meet your future business partner

Hannah Page, marketing & admissions manager at WHU Otto Beisheim School of Management

Your classmates can be one of your most powerful assets on a master's program. Many students would say they learn as much from their peers as they do from their professors.

The connections you make at university will continue to pay off well into your career - particularly in business programs. “At university you are a student for life,” Hannah says. “This isn't just for sitting in a classroom and learning. It's a network you'll have access to for life.”

For many, these fruitful connections might even lead to business partnerships. Hannah points to the founders of e-commerce group Zalando, who met at WHU, as did the founders of home-cooking startup HelloFresh.

3. Upskill yourself

Virginie Fougea, global director of admissions at INSEAD

Whether it's the COVID-19 pandemic or the rise of AI, the world of work is constantly being disrupted. It means workers must be more agile than ever to be able to keep pace with the changes.

And one of the best ways of doing that is with a business master's degree. The best business schools work closely with employers to understand the latest market demands and pass those teachings on to their students. It's vital that you continue to upskill yourself to stay competitive in the job market.

"Now more than ever, workers need to stay relevant and keep acquiring new skills to adequately respond to the new environment,” says Virginie.

4. Connect with potential employers

Shani Pearson, international recruitment lead at BI Norwegian Business School

Networking is a big focus of any business program. Representatives from major employers will often visit universities for recruitment events - which represents a great opportunity for students to make connections that could benefit them in their future career.

But networking is a skill, and although it's not something everyone is born with, it's certainly something everyone can learn.

“Insight from business informs the curriculum, which helps students develop the management skills needed and gain the knowledge required to navigate new career paths,” Shani says. “These links allow students to interact with corporations, leaders, and recruiters as they develop their own network.”

Take Our Quiz: Can You Network Like An MBA?

5. Enhance your career flexibility

Stephanie Thrane, recruitment & admissions director at London Business School

Millennials and Gen Z-ers can expect to work across a number of different roles and industries over their career. In a rapidly changing business landscape, business master's graduates benefit from a flexible and adaptable skill set.

“Unlike our parents' generation who worked in the same organization for 25 years, people today want global mobility, flexibility to shift jobs every five to ten years in different companies and locations,” says Stephanie.

“At LBS, that's where the real return on investment comes, because you're buying into a global network that will enable you to continue with those shifts throughout your career.”

6. Maximize your salary

Boban Sulic, deputy director of admissions at ESMT Berlin

Although there are many intangible benefits of a business master's - an expanded network, better leadership skills, greater personal growth - the most obvious financial benefit is the increased salary that graduates can command. According to Boban, the leadership skills and business knowledge you'll garner from a master's make you well-placed for high-paying roles.

“Business master's programs strategically prepare students for leadership roles," he says. "Students learn how companies work from the inside, how teams work best, and how tasks are distributed sensibly.”

“All this makes them fit for a management job in the future, one that generally pays much better than what they would be earning with a bachelor's degree.”

7. Accelerate your personal growth

Leon Laulusa, executive president and dean at ESCP Business School

While salary, skills, and jobs are all good measures of success, some of the payoffs from a business master's are less tangible. Over the course of the program, students can expect to grow and develop as an individual - something which can be far more meaningful than any hard skill.

"Investing in a business education is not just about acquiring technical skills; it’s a transformative journey that equips you to thrive amidst change," Leon explains. "Beyond mastering finance, strategy, or management, you’ll cultivate your leadership style along with the resilience, curiosity, and adaptability essential for personal and professional growth."

"This kind of growth not only advances your career, but also enriches your life."

And... it might not be as expensive as you think

Veronica Sullo, graduate recruitment manager at Bocconi University

While the price tag of a business master's may be high, schools offer plenty of ways to reduce the cost of studying.

“It's important to understand the value of an investment of a master's, which is usually $20k to $30k," Veronica says. "But many universities offer very competitive merit scholarships to students they believe could make an impact during university and in the future. At Bocconi we also partner with banks to offer loans to students to pay for their master's after graduation."

Bocconi offers a number of scholarships based on your academic performance, GMAT score or other categories. Some of these could even cover 100% of your tuition fees - making a business master's a very worthwhile investment indeed.

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This article was originally published on BusinessBecause.

Whether you're considering an MBA, EMBA, or Master's program, read more content like this and get practical resources to help your business school application on BusinessBecause.