9 Career Benefits of an MBA Degree

An MBA degree can bring you many professional and personal benefits. An MBA degree opens up new opportunities in technology, finance, and management as well as increased career advancement and financial reward. An MBA degree will enhance your leadership and communication skills, which are essential to professional success.

We will be briefly discussing nine of the key career benefits that an MBA degree can bring to your career.

1. You can apply for new job opportunities.

The number of jobs available to you increases dramatically when you have your MBA. According to The Economist, job opportunities for MBA graduates are rising in 2016. Three-quarters of employers plan to hire MBA graduates by 2016, while ninety-two percent increase the number of MBA internships they offer. An MBA will allow you to apply for higher-level jobs and expand your career options.

1. You have many options for career advancement.

Sometimes, it can seem impossible to change careers and pursue a new career path, especially if you have worked in the same industry for a while. You might need new skills to jump-start your career transition. Even if your background is not typical for the positions you are considering, an MBA will provide the education and skills needed to help you become more qualified candidate.

1. Your earning potential grows.

A recent study showed that the average MBA graduate's pay was 50% higher than their position before earning their degree. The average MBA graduate's salary increased by 80% in five years. These numbers demonstrate the financial benefits of an MBA, but they do not address the personal satisfaction that comes from greater responsibility.

1. You will improve your professional skills.

An MBA can help you gain a better understanding of business operations. A key component of business success, or any endeavor for that matter, is having a complement of "soft skills," such as communication, teamwork, and leadership. You must be able to talk the talk, as the old saying goes. These skills can make the difference between success or failure, regardless of whether you are looking for a promotion or if you want to start your own business.

1. You enjoy greater job security.

The current job market is turbulent and leaves many feeling uncertain and afraid of being left behind. An MBA can help you feel more confident and marketable. You will be a valuable member of any team if you have the skills that you learn in an MBA program. Your business skills can travel with you even if your job is done, which increases your chances of being able to return to work faster.

1. Your worldview grows.

An MBA will help you gain a deeper understanding of global business and enhance your enterprise knowledge. Today's top programs offer an immersion trip abroad to give graduate students hands-on experience in managing a business in a global marketplace. International students are a great way to increase classroom diversity and enrich the learning experience. This added benefit is important in today's global economy.

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1. Expand your professional network.

Strong professional networks are one of the most valuable assets you can have for your business. In a survey conducted by the Graduate Management Admission Council (GMAC), 89% of recent MBA graduates said that attending business school helped them to develop a strong professional network. This network can help you gain access to new opportunities, and it may also be useful if you want to start your own business.

2. Your career is more successful if you are knowledgeable in the most important areas.

A good MBA program will teach you the skills that you need to succeed in your chosen field. For those who have a specific career or industry in mind, specialized MBA programs (i.e. those that offer concentrations) can be very useful. On the other hand, do not underestimate the value of a general MBA program. If you're considering changing careers, general programs can teach you a broad range of skills that can be used in nearly any industry or job function.

3. You will be a respected member of your business community.

An MBA is a respected designation among colleagues and other professionals in your field. While the qualification is important, it's not what makes you stand out. It's your increased skill set that will make you unique. Whether you choose a program that offers concentrations or one focused on leadership and global management, you will be well served by the stature it conveys. You can launch a new product or reorganize a division to start your own business. Executive recruiters are looking for people who can see the big picture and provide direction to a division or company through difficult situations.

Even if your career is thriving, an MBA program may be beneficial. An MBA can open up many new opportunities that will allow you to get promoted, change jobs, or fulfill your entrepreneurial dreams.