When most people hear the word mba, they envision a world financial center full of skyscrapers and bustling white-collar workers speaking into their smartphones. They also imagine a graduate degree that can lead to more career opportunities and higher salaries than their peers without one. And they’re right: a master of business administration is an expensive but highly valuable piece of paper.
But there are many reasons to get an MBA, and the degree’s value can extend far beyond increased salary potential. The degree provides students with the opportunity to explore new industries and functions, forge strong networking connections with faculty, alumni and students, and learn how to communicate effectively with colleagues from different backgrounds.
Moreover, an mba can help students develop a more holistic understanding of the business world and prepare them for future challenges, whether that’s navigating regulatory changes or leveraging the power of data analytics in the age of artificial intelligence. And it’s these broader perspectives and skills that can give graduates a competitive edge over the long haul.
But before you decide to pursue an MBA, consider your personal circumstances and what the degree is really all about. In fact, an MBA should only be considered when your career ambitions align with the opportunities and advantages offered by a good program. Then you can choose the programs, classes, and networking events that will best satisfy your aspirations. To that end, you can start by taking steps within your current organization to advance your career and gain valuable experience.