If you are considering a Master of Business Administration (MBA), you’ve likely asked yourself, “Is an MBA worth it?” The answer to this question is often less than straightforward.
There are many advantages to earning an MBA, which we will explore in this post in greater depth. As we go through each of the benefits, it is important to keep in mind that pursuing an MBA can be a significant investment of time and money. As you decide on this next step in your education and career, it’s important to carefully consider your goals and whether an MBA is the best path to achieving them.
Advantages of Earning Your MBA
Getting an MBA can provide several significant benefits, depending on your specific goals and career aspirations. Here are some general reasons why you might consider pursuing an MBA:
An MBA can open doors to a number of new opportunities, including higher-level management positions that may not have been available to you with only a bachelor’s degree. The MBA curriculum will teach you the skills and knowledge necessary to run a business or manage a team effectively. For job changers, earning an MBA can also provide opportunities to switch industries or careers.
Additionally, the current career outlook for MBA holders is bright, with corporate recruiters looking to hire for professionals who have challenged themselves to pursue post-graduate education:
- 92% of corporate recruiters expect to hire new MBA grads1
- 95% of staffing firms expect to hire new MBAs1
- 87% of corporate recruiters are confident in an MBA education1
Enhanced Business Skills
An MBA program can teach you a wide range of business skills, including leadership, strategic thinking, effective communication, decision-making and problem-solving. These skills are highly valued by employers, and they can help you succeed in a variety of roles.
Depending on your program, you will also get a taste of specific areas of business, including marketing, accounting, finance and operations management. Many programs provide specialized MBAs that will go into greater depth on some of these specific areas of business, which can be especially beneficial if you have a specific career track or industry in mind.
Overall, the skills imparted in an MBA program can help you become a more well-rounded business professional.
Building a strong network can be invaluable for career advancement and business opportunities. MBA programs provide opportunities to connect with fellow students, alumni, faculty and industry professionals. You will meet like-minded individuals who are also interested in advancing their careers and building their network, which can ultimately lead to potential job opportunities or partnerships.
Increased Earning Potential
In many industries, an MBA can lead to higher salaries and better job prospects. MBA graduates generally earn more than their peers who have only a bachelor’s degree. In fact, MBA grads enjoy a 22-40% higher starting salary than bachelor's degree holders.1 Learn more about MBA salary and career benefits here.
Choosing an MBA Program
There are a myriad of MBA options available to you—so many that narrowing down your options may feel overwhelming. To help you narrow down your list and find a program what will make earning an MBA worthwhile, here are some key factors to consider when choosing an MBA program:
The reputation of the MBA program is an important factor to consider. Look for programs that are accredited and have a strong reputation with employers in your field of interest.
Consider the curriculum of the MBA program and see if it aligns with your career goals. Look for programs that offer course work in areas that interest you, such as finance, marketing, operations or entrepreneurship. Again, this is where specialized MBA programs are ideal if you know the areas you want to pursue or grow in.
Research the faculty of the MBA program and see if they have relevant industry experience and academic credentials. Consider the professors’ research interests, publications and teaching styles to see if they match your learning style.
Class Size and Personal Attention
The size of the cohort in your MBA program can have a significant impact on your learning experience. Look for programs with small class sizes that promote interaction and discussion. In addition to class size, try to learn what kind of personal attention you will receive from faculty and staff.
Online or In-Person?
Location still matters when it comes to choosing your program, but thanks to strong online programs, you no longer have to limit your choices based on where you live and work. Consider looking for programs located in areas with a strong business community in your field of interest.
Look for programs that offer opportunities to connect with alumni, industry leaders and other students. With more programs being offered online, be sure to learn more about the opportunities for interaction with your peers, the faculty and employers. Just because a program is offered online does not mean you will be hindered from networking.
Cost and Financial Aid
Consider the cost of the MBA program and see if it aligns with your budget. Look for programs that offer financial aid, scholarships and other funding opportunities. Online MBA programs can be less expensive than traditional in-person programs, as there are often no associated costs for housing or commuting.
Is MSOE’s Online MBA Program a Good Fit For You?
MSOE is a distinguished leader in Milwaukee and throughout Wisconsin, with a reach that goes well beyond the Midwest. While MSOE is known for our engineering programs, earning your MBA from us has its advantages. We place an emphasis on technology and innovation and speak the language of engineers, drawing in technically-adept students who want to grow their business acumen.
When you join us online, you will benefit from the MSOE Advantage—more personal attention, more practical experience and more career power. Learn more about why MSOE’s online MBA stands out:
Employers Know and Trust MSOE
Wisconsin is a growing hub for technical innovation with Milwaukee at the center of manufacturing. As such, employers around the Midwest have formed a positive relationship with MSOE and know that we graduate strong professionals with immediately applicable skills. Our graduates are consistently in high demand by national and international employers.
Learn Directly From Industry-Connected Faculty
You won’t find TA intermediaries at MSOE. You are taught by our expert faculty members who have first-hand industry knowledge and experience. Benefit from one-on-one coaching with your own Faculty Coach, who will work with you on various business projects.
Benefit From Comprehensive Curriculum
Course work for the online MBA is designed to address challenges sourced directly from employers. The program features analysis of leading-edge business cases and real-world, current opportunities and challenges from the workplace as a basis for study, giving you hands-on experience to cultivate skills that employers need.
Specialize to Meet Your Career Goals
At MSOE, you can choose from four pathways to earn the MBA that is best for your career goals. Choose from the General MBA Track, the MBA in Analytics, the MBA in New Product Management or the MBA in Education Leadership.
Ready to pursue a worthwhile MBA? Get started today. Complete the form for more information, or get started on your application.