10 Reasons Why An MBA Degree Could Be For You
Pursuing an MBA is a major life decision, and prospective applicants may wonder if the degree is worth the significant investment.
With the top MBA programs costing upwards of US$100,000 in tuition fees and related expenses, not to mention the time investment, it can help to know whether an MBA is right for you before going all-in.
Perhaps a coworker has inspired you to consider an MBA degree, or you can see yourself following in the footsteps of another MBA graduate you admire. The point is, you're not alone if you're wondering whether getting an MBA is the right path for you.
If you can relate to one or more of the reasons below, then it might be time to seriously consider an MBA.
1. You want to make a career change.
Given that an MBA is a general Master of Business Administration, it's the ideal graduate degree for professionals who want to leave their current industry and try something new.
On an MBA program, you'll embark on a comprehensive curriculum covering a broad range of essential business skills. Your MBA program will likely include modules on:
- Sales
- Marketing
- Finance
- Management
- Strategy
- HR
The broad curriculum, combined with an intense level of studying, means MBA graduates can follow any number of careers after graduating. Some MBA students even make the coveted 'triple jump': changing their industry, job function, and location simultaneously.
2. You want to reach senior-level management positions in your current organization.
Not all MBA applicants are eyeing an entirely new career path. One-quarter of applicants to two-year MBA programs admit that they need to upskill to be more successful in their current roles.
An MBA can significantly boost your business skillset, whether you're currently working in sales, marketing, finance, or another business function.
If you're aiming higher than your current role, the MBA can also be a valuable investment. During the degree, you'll gain leadership skills that will help you apply for senior positions in your current organization, helping you progress up the hierarchy.
Some MBA applicants pursue an MBA with employer support, which could mean assistance with tuition fees or granting time off to complete the degree. Organizations benefit from this as their employees return from MBA programs ready to take on more senior leadership positions.
3. You want to develop management skills for the future.
There are common skills that graduate management recruiters typically ask their new hires to have, and they're all skills that you'll develop at business school.
According to the Graduate Management Admission Council (GMAC) Corporate Recruiters Survey 2024, problem-solving, communication, and strategic thinking are the three most important skills for recent graduates.
Of those skills, corporate recruiters say that problem-solving and strategic thinking will remain as important in five years, alongside technology and IT skills and competence in artificial intelligence tools.
On an MBA degree, you'll have plenty of opportunities to hone your strategic thinking and problem-solving as you participate in hands-on business tasks with your peers. Plus, you'll learn about innovative tech, including AI, from technology professionals.
4. You want to start your own business.
We've already mentioned that students acquire a wide variety of business knowledge in an MBA program. While this is helpful for those who aren't sure of their career path post-MBA, it's also valuable for those whose primary goal is to become an entrepreneur.
Startup founders are more than just strategic thinkers and innovators. In those early days of founding a company, they're also responsible for HR, finance, sales, and marketing—all the skillsets that you'll acquire on an MBA.
5. You want to increase your earnings potential.
The MBA is widely known as a step-up degree, helping students achieve more senior jobs that come with higher salaries. According to GMAC research, 40% of applicants to the traditional two-year MBA program complete the degree to eventually increase their earnings potential.
The average salary of MBA graduates varies by graduate region and industry of choice. However, in Europe and the US, it's common for MBA graduates from the top business schools to achieve starting salaries of over US$100,000.
MBA Salary Calculator: Estimate Your Post-MBA Salary
6. You want to explore job opportunities in a new country or region.
Many business school applicants use their MBA degree to explore job opportunities in a new part of the world; 67% of business school applicants say they intend to study internationally rather than in their home country.
As you study for an MBA, you'll have the opportunity to network with local companies and perhaps even work with some of them during immersive projects or an internship.
Plus, most MBA programs in non-English-speaking countries that attract a high proportion of international students often offer free language lessons, so you can get a head start in the job market.
7. You want to explore jobs in cutting-edge sectors.
An MBA isn't just a good choice for achieving your present-day career goals but also for securing your future career. The business leaders of tomorrow will need extensive knowledge of the entire breadth of organizational functions and the innovations that are changing the business world.
Among recruiters across all global regions and sectors, artificial intelligence is increasingly ranked as a vital future skill for business school graduates.
Business schools have long embraced new technology like generative AI, blockchain, and big data, including in MBA programs. Today, some business schools go further, offering majors in innovative tech.
One such course is the Wharton MBA, where students can follow specializations in Business Analytics and Entrepreneurship and Innovation.
8. You want to make a bigger impact in your organization.
When we talk about the skills students develop on an MBA program, we don't just mean hard skills. MBA students also acquire a whole host of soft skills that they can start putting into practice as soon as they graduate.
These valuable soft skills include the ability to work in diverse teams, emotional intelligence, and communication skills, and they will help you not just excel in your job but make an impact in the teams you work in.
9. You want to meet diverse professionals from around the world.
The business school classroom is typically exceedingly diverse. Among the top ten MBA programs in the world, the percentage of international students in the cohort ranges from 35% to 96%.
During your MBA, you will not only meet students and faculty members from around the world but also work alongside them, forming connections that may last the rest of your life. This experience will not only prepare you to work in international organizations but also expand your perspectives.
10. You want to challenge yourself.
There's no getting around it: an MBA is a rigorous degree and requires dedication and commitment. However, the vast majority of MBA graduates say that the years of hard work are worth it.
In addition to being a valuable step towards a new career or progressing in your current one, an MBA is an opportunity to transform your personal and professional life. By challenging yourself to meet new people and embrace a global mindset, you'll excel in business and become more aware of your talents and weaknesses.
Your next step to an MBA program
Did any of these reasons resonate with you? Then, it might be time for you to seriously consider pursuing an MBA degree. The next step will be to find a business school and MBA course that is right for you.
To help you in the next stage of your MBA journey, we've compiled a series of guides to help you navigate program choices, financing your studies and career prospects.