Studying for a Masters in Business Administration (MBA) is a substantial undertaking that requires a huge level of discipline. Whether working while studying or entering into a full time course, it’s a considerable investment of time and money, and can be incredibly challenging.
However, if you are determined and dedicated, completing an MBA can be life changing.
Studying for an MBA will give you the chance to enhance your leadership skills and knowledge of your industry, and can offer you additional benefits that will span the duration of your whole career.
If you are considering taking the leap and applying for an MBA, or if you are still unsure if it’s the right path for you, we have listed some of the best ways studying can help enhance your career.
Completing an MBA is a great way to stand out as a potential candidate for advancement opportunities within your company. AMBA data has shown that in 2014, 32.5% of people about to complete an MBA were at Junior Management in their respective companies. Immediately after graduating, this fell to 18.8% and when the survey was taken again a few months later, only 5.1% of people remained at this level.
Many respondents to the survey had been promoted to senior management directly after graduating, and a third had reached this level only a few months after the end of their course.
If you’re looking to enter into a high earning management role, an MBA could be the route for you. Further AMBA data has shown that the average salary of an MBA graduate from an AMBA accredited business school stood at over £82,000 in 2014.
Grow your potential contacts
During your MBA course you will have the chance to meet and build relationships with some of the best business minds in the UK. Your tutors and lecturers will be able to share their knowledge and experience with you, and there will be regular talks and guest lectures from thought leaders within your industry.
The people who will be studying alongside you during your MBA also make great networking contacts. During your studies they can help as a soundboard as they will be experiencing the same things as you. Afterwards, they will be likely to be successful in their field, so will be great contacts to have throughout your career.
Also, some are be likely to become lifelong friends.
While studying an MBA, you will develop your leadership proficiency and study in-depth management strategy and analysis. These are great skills that you can use throughout all areas of business, and are very impressive to a prospective employer, and MBAs have even more to offer.
During your MBA, you will get the opportunity to work on a series of team projects. Through this you will develop skills in people management, as well as teamwork and negotiation. You may also be required to complete modules that require some public speaking; all good leaders have developed their public speaking to ensure they are perceived as confident, knowledgeable and calm.
You will have the opportunity to learn about all aspects of business, not just the areas you work in. This will help you develop an understanding of the roles of other people, which is paramount when managing a business.
You may find in your future career that you begin to look for a different direction, and might consider starting your own business. The leadership and negotiation skills you developed during your MBA, as well as your contacts and knowledge about the different aspects of business, will put you in a great position to take this leap.
If you want stay working at your current company or cannot afford to give up a salary for year, then an MBA is still a great option for you. Part time MBAs are a good way to continue working for a company or in a job role you like and have worked hard to obtain, while developing your knowledge for the future of your career.
Your employer may even offer you the chance to complete an MBA that they will fund. MBAs offer the chance to learn valuable skills, and if you show promise, it could be in your company’s best interests to train you in this way.
You may have to agree to some kind of long term commitment to your business for them to invest in your future like this, so if you are content in your work environment, ask your employer if this is a viable option for you.
Do you have what it takes?
Studying an MBA is a solid investment for a hard working, ambitious and motivated person who believes that they are suited to senior management. Completing an MBA can help you advance up the career ladder, create new networks of people and open doors you may never have considered before.
Although it’s a considerable commitment, if you know that you’re the type of person who can handle the challenge of holding a leadership position and are prepared to continuously learn and develop new skills throughout your career, an MBA could be the best career direction for you.
Rosa Mitchell is a guest contributor from Manchester Metropolitan University, one of the top MBA providers in the North West of England.
Powered by Zimbra