At some point in every business person’s career, they begin to consider the idea of going back to school and attaining a Master’s Degree in Business Administration.
And why not? An MBA can open the door to challenging, rewarding jobs that are higher up the organizational chart. Many employers now look much more favorably on job candidates, especially for strategic and decision-making roles, if they have earned an MBA.
If you are in business, the question then becomes: Are you ready for an MBA? The below list points out some of the signs that indicate it is time to consider earning an MBA, as well as some of the advantages in doing so.
First, though, it’s important to note how MBA programs have changed.
MBA Programs Evolve
Some MBA programs, such as the online MBA through Touro University Worldwide, do not require a GMAT or GRE score for admission. The degree program also is offered 100 percent online, allowing students flexibility on when they set aside time for classes and coursework.
Online programs now are seen by employers to have as much merit as those earned in traditional classrooms.
The innovations that online learning has brought to higher education can help ease the complexity of earning an MBA while also maintaining a busy professional and personal life schedule. In the case of the Touro program, students can earn an MBA in just one year.
Here are 5 signs that you are ready to enroll in an online MBA program:
1. No Upwardly Mobility
In many cases, professionals simply reach the limit of how far a bachelor’s degree will allow them to advance. They’ve come to a point in their career where they can no longer are eligible for promotion up the ladder. This can lead to professional stagnation – not a place a savvy professional wants to stay. An MBA can open the doors to higher-level jobs within an organization.
2. A New Direction
Some professionals have realized, after spending a few years in the working world, that they want to relaunch their careers and take a new direction. This often can involve wanting to strike out on their own as an entrepreneur. Other times they simply want to change professions. Either way, an MBA provides a better start to attaining their new professional goal.
One aspect of an MBA that perhaps does not get the attention it deserves is the area of networking. MBA degree programs tend to attract ambitious, goal-oriented people. Anyone of them could become a future business partner, supervisor, employee, mentor or investor. While business is about the latest strategies and methods to optimize a business operation, it’s also about getting to know and work with the best people possible.
Is it too crass to think about money? Of course not. Maximizing income is as much a part of professional life as anything else. And those with master’s degrees tend to do better than those without. According to the U.S. Bureau of Labor Statistics, those with a bachelor’s degree in the United States earned a median weekly salary of $1,156 in 2016. Those with a master’s degree earned $1,380.
That translates to an increase of $11,648 annually.
5. Career Options
It’s also possible that a professional knows they want a change, but haven’t yet settled on what they want to do. An MBA program can prepare people for a variety of careers in a wide range of fields. For example, the Touro University program offers MBAs in different concentrations: accounting, cybersecurity management, finance, global management, health administration management, human resources management, marketing, and nonprofit management.
That offers some idea of the many places earning an MBA can take a person’s career.
Ultimately, each person who decides to pursue an MBA does so for their own mixture of reasons, although at least some of them tend to include a combination of the reasons listed above. For those considering an MBA, it’s a smart move to take the time and consider what a graduate degree can do to bolster a career.