Gain The MBA Advantage
An MBA is a Master of Business Administration, a postgraduate degree that is offered at universities and business schools. Many leading professionals around the world view having one as a key asset in furthering their careers and maximising their earning potential. Indeed, gaining this valuable degree can directly improve your income in a variety of ways. Here’s a look at some of the possible benefits that come along with them:
To climb the career ladder – Whilst every talent and achievement is bound to spur you on in your chosen career, some areas regard having one as being vital to moving up the ladder. This is often the case in the highly demanding worlds of banking and finance, or consultancy. Within an increasingly competitive job market, it is important to show true dedication to a career and some employees strongly encourage their staff to enhance their education. So, in short, you can greatly improve your career prospects which in turn may result in a far higher salary for you.
To become a high-end earner – There are proven, tangible financial benefits to be gained from achieving this degree. Looking at IT jobs alone, for example, studies show that those seeking a candidate with an MBA averaged at £61,250 between May and July 2012, whilst in the same period the average IT job in the UK paid £42,000. That is an astonishing 46% improvement in salary– making it very much worth considering if you wish to have access to the highest reaches of pay.
To help a change of career – At certain points in our working lives, we may feel that it is time to change roles, or even entire industries. A recognised MBA such as the type offered by Middlesex University includes learning invaluable business and management skills that can be applied across a huge variety of sectors. Therefore, gaining this kind of postgraduate degree will actively help your prospects should you wish to move around the job market.
To become a credible leader – Whilst historically not every leader within the business world has an MBA (or even an undergraduate degree when you think of some popular moguls), in the 21st century employment marketplace it certainly helps. With this degree to your name, you are likely to find it far easier to take on leadership roles and may also be viewed in a more positive light by senior management which will make them more likely to consider you for such roles in the first place. It can be a hugely positive self-fulfilling prophecy – get the education of a leader, become a leader.
Part of it will include looking at various leadership philosophies and examining how they can be practically applied to decisions and strategies within a management role. It may also include leading discussions and groups, all of which will go a long way to bolstering your leadership skills. Of course, organisations are willing to pay a good deal to secure the best, most effective leaders. Therefore, it will make you a great candidate for the more senior, more highly paid positions.
To explore your passion for business – It will allow you to increase, understand and further your passion for the world of business. You will have the chance to become an expert rather than a mere beginner and gain knowledge that will stand you in excellent stead in your career. Of course, any student of the modern employment market will know that expertise and specialism is the way forward and is also the path to greater financial rewards. Showing the commitment required to undertake one is a clear signal to employers that your drive and enthusiasm for business is the real thing.
All these reasons for deciding to study for an MBA are equally valid and each one leads towards greater freedom of choice within your career, becoming personally more marketable and ultimately being more highly paid for work that you enjoy. As such, an MBA can enormously enhance your working life and income, so is well worth considering for anyone who is serious about maximising the potential of their chosen career.
Photo by: Rennett Stowe