That said, there’s an ongoing debate around whether or not an MBA is still a good investment today. If you’re considering pursuing the degree, you’ll almost certainly have heard things like this: ‘Why get your MBA when you can spend those years working, earning money, and gaining real-world experience on the job instead?’ On the other hand, you’ve probably also spoken to successful business people who say that they wouldn’t be where they are today without their MBAs, and that the degree is worth every penny.
We’ve rounded up a few reasons why getting your MBA is still very much an excellent investment:
An MBA program is a once-in-a-lifetime networking opportunity.
One of the biggest reasons why getting your MBA is still a smart move is because it offers an unsurpassed opportunity to grow your professional network. Your classmates, your school’s strategic partners, your lecturers, and everyone you stand to meet on field trips, during internships, and at networking events all represent golden opportunities for beneficial connections and partnerships. Throughout your MBA, you’ll link up with and learn from people who could well go on to be your future business partners, investors, employers, employees, and lifelong mentors (and, of course, your biggest competitors!).
Getting an MBA really does improve your earning potential.
In an article published by Poets&Quants, Andrew Ainslie, Dean of Simon Business School at the University of Rochester, compares data gathered from the Forbes’ top 70 MBA programs over a number of years. The numbers are heartening, showing a healthy increase in post-MBA salaries over pre-MBA earnings. More good news: recent years show a reduction in how long it takes graduates to pay off their student debts (on average, only four years in 2013). The message is clear: MBA graduates really do make more money.
MBA graduates are top picks for middle-management positions.
Another good answer to the question, ‘Why get your MBA?’ is because employers and HR professionals still see the degree as a valuable stamp of approval. In the same article cited above, Ainslie says, “According to the GMAC 2015 Corporate Recruiters Survey Report, approximately 80% of companies surveyed are hiring recent business school graduates into middle-management level positions.” He goes on to explain that employers across all industries prefer MBA graduates because they’re confident of their analytics, communication, and problem solving skills.
Remember, an MBA’s ROI can’t only be measured in tangibles like salary brackets. As a business school graduate, you’ll walk away with new ideas, new perspectives, new connections, new problem-solving skills, a new level of credibility, and so much more. The program really does have the power to vastly transform your career for the better.
Find the perfect MBA for you.
The first step to investing in your future is finding the right MBA program for you. Download our white paper, How to find the perfect MBA, for invaluable guidance on choosing an MBA that fits your needs.
The ESSEC Global MBA is a 12-month intensive program designed to accelerate your career and prepare you to excel in the international business arena. The program is rated seventh in Europe for employability, with 90% of graduates securing employment within four months of graduating. Find out more about the ESSEC Global MBA by downloading our brochure