By Charlene Lattea, WVU Online | Wednesday, July 26, 2023
Explore the ways that earning an MBA can advance your career and personal growth!
Getting a Master of Business Administration (MBA) is often a smart choice for professionals looking to progress in their careers.
The MBA one of the most popular degrees because it gives you the credibility and marketability that lead to top jobs in any industry.
Although the degree can be expensive, it will bring you a higher starting salary than a bachelor’s degree in business.
There are many other benefits, including leadership and networking opportunities, as well as the opportunity to specialize.
Today, more MBA degrees are being offered in flexible learning formats and business schools are embracing new technologies that make it easier to earn one than ever before.
In this article, we will explore the ways that earning an MBA can enhance your career and personal growth, and all the reasons you may want to choose an MBA today.
The MBA is an important credential if your goal is an executive position at a large corporation, or if you want to become an entrepreneur.
But the road is not an easy one. In addition to a large time and financial commitment, it will take initiative, creativity, self-discipline, and a great deal of motivation.
In other words, you must have a passion for the work.
But once you have it, the MBA will give you the unique ability to analyze situations and large amounts of information quickly and accurately and to be able to put plans into action.
You will have the ability to inspire and motivate your business teams to accomplish ambitious business projects on a high level, and work within a global business community.
In addition to executive positions, with flexible degree programs and specializations, you could have a career in the technology field, as well as the consumer products industry, healthcare, marketing, data analytics, economic and public policy, energy and the environment, real estate, and more.
There are many different types of MBA degrees available and programs available, so it's important to know your options. Here are a few MBA program types to consider:
Full-time MBA: This traditional MBA is an intensive educational experience that will take all of your time for about two years. But when you have completed it, you will be ready for your exciting new career.
Part-time MBA: This is a better program for someone who is working full-time and who wants to move up in his or her career field, without taking time off. It will take longer than the full-time MBA, possibly three or four years.
Executive MBA: These programs are designed for the business professional who already has a few years of experience, but who wants to move to the next level. It focuses on leadership skills, as well current trends in business. Classes are part-time, so that students can continue to work full-time.
Accelerated MBA: These programs are generally 12 to 16 months of full-time work, but the fact that you can finish them so quickly means you will have to carry a heavy academic workload. The bright side is that they cost less because they take less time.
Online MBA: These programs offer the same education as an in-person program but allow you to learn from anywhere you have an internet connection. You can continue to work full-time if you choose and online programs are usually less expensive.
Dual-Degree MBA: These programs combine the MBA with another graduate degree, perhaps a law degree, a master’s degree in marketing, a master of fine arts, or a doctorate in a healthcare-related field. Before choosing this kind of program, you should think seriously about whether you need two graduate degrees. This is not for everybody and you will have to be highly motivated.
Some schools, such as WVU’s John Chambers School of Business, offer "bolt-on" certificates to provide an additional area of focus. These could be in many different specializations. WVU Online offers bolt-on certificates in Business Data Analytics, Forensic Accounting and Fraud Examination, and Business Cybersecurity Management.
There are many things you can do with an MBA degree and numerous reasons it will contribute to your personal growth. Some of the most popular include increasing your salary potential, developing a strong professional network, entering a high-level career or becoming your own boss.
The following are some of the most important reason to consider getting an MBA and why this degree has become popular throughout the world:
The MBA sets you apart from those who hold other business degrees and increases both the quantity and the quality of job opportunities available to you.
Often, MBA graduates will have a job offer before they even finish their degree. The demand for MBA graduates remains particularly strong in fields such as finance, consulting, and technology.
According to the Graduate Management Admission Council’s 2021 survey, the average salary for someone with an MBA degree is $115,000, which is 77 percent more than those with a bachelor’s degree.
MBA graduates can expect to make much higher salaries throughout their careers, but earning potential depends on the industry you enter, its location, and your own personal experience.
One of the greatest benefits of completing an MBA program is the diverse networking opportunities. According to a 2023 report by The Princeton Review, professional networking is one of the primary reasons students pursue an MBA.
You will network with fellow students, as well as business professionals and potential employers from around the world who can help and support you for the rest of your career.
MBA graduates with a specialization in areas such as data analytics, marketing, computer technology, human resources, or healthcare may be in higher demand. According to the US News and World Report, MBA specializations are on the rise and can signal expertise to prospective employers.
Working as a business leader or a CEO means you should have a diverse set of leadership and management skills.
WVU Online business graduate Scott Branham said his degree gave him "an enhanced ability to summarize complex outcomes to make important business decisions and an increased ability to focus deeply on new and challenging concepts."
Today, MBAs are going into many different fields, as the professional landscape changes and new opportunities become available.
Earning an MBA sets you apart and demonstrates to future employers that you are committed to learning, improving and applying skills to help a company succeed. With an MBA, you will bring a wealth of information and experience to a company.
No matter what kind of MBA program you choose, you will develop communication and analytical skills that are very important in the business world.
As a business leader you must be a creative and innovative thinker, and a person with vision who is able to see the big picture, as well as being a motivator of employees and able to delegate tasks in an efficient manner.
The MBA is an excellent choice, whether you would like to advance in your careers, or if you are looking for a new and different career altogether.
The in-depth education in business management and administration you gain with this degree gives you the ability to view the economy from a global perspective and to be a leader in today’s global society.
With many MBA programs, you will take part in experiential education opportunities that will give you real-world experience.
"I am always looking for new ways to improve my students’ experiential education opportunities," says WVU Business Professor Suzanne Kitchen. "These include internships, service learning, individual or group simulations, real- life case studies, leadership opportunities and case competitions."
Business managers and CEOs work with the public, as well as with stakeholders in the business, and employees of other companies. They must be able to communicate effectively and be a good representative for the business. They also need to have excellent management skills.
"My degree helped me with many different kinds of problems in the real world, including scheduling, time management, organization, and written communication," says WVU Online business graduate Blair Shea.
Deciding to study for an MBA is a big step, but it is well worth it if you want to enter the competitive world of business. You will gain in-depth knowledge of business practices that will lead to many new and exciting job opportunities.
The MBA is an investment in your future, because it leads to higher career earnings, increased job security, and recognition as a business leader that you will carry with you for the rest of your life.
There are many compelling reasons to get an MBA, but it is important that you decide what your career goals are before you pursue an MBA program, so that you can decide if it is right for you and also find the type of MBA that is best for you.
It is important to consider your time commitment, your financial situation, and your current life situation. You should make sure that it aligns with your career goals and aspirations.
In 2022-2023, full-time tuition for some of the best MBA programs could cost you $70,000 per year or more, according to the U.S. News and World Report. However, costs vary widely depending the type of school and program you choose.
The top business schools, including ivy-league schools, as well as private schools, have higher tuition and fee rates, but public schools and online degree programs offer some of the lowest rates. You should also take into account scholarships and financial aid that you may be eligible to receive before making a decision based on cost.
It is important to know that after you get the MBA, you will be working on more complex business projects, in a more competitive business world. You will no doubt be making a higher salary, but you will be under more stress in your work.
However, the MBA is life changing. It is a huge transition in your life, and one of the few ways to make something like that possible in two to five years.
You will be entering a new world, and perhaps the greatest and most successful transition you will make is to become a leader in the ever-changing business world.
The future for MBA graduates is very promising. As you build your career, you may want to improve your skills with a degree from WVU Online.
The WVU John Chambers School of Business and Economics offers an Online MBA program for working professionals who want the convenience and flexibility of online learning from a nationally recognized university.
The MBA program is ranked #32 among public Online MBA Programs by U.S. News & World Report. It requires ten courses, or 30 credit hours, and is accredited by AACSB International, the principal accrediting organization for business schools. Only 5% of business schools worldwide achieve this distinction.
According to Alicia Plemmons, coordinator of WVU Online’s MBA program, the degree provides students with the perfect environment to build professional skills that are needed for top job placements.
"The WVU Online MBA program is ideal for students who want to take that next step in their career at their current company or move into a new industry," she says. "Our program focuses on teaching cutting-edge skills while building experience in leadership and team management."
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After reading this article, if you are unsure about your goals, or how to identify your interests and skills, be sure to reach out to one of our WVU Online admissions coaches. They are trained to help you look at your individual situation and make the right choice for your future.
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