Is an MBA Right for Me?

A Master of Business Administration (MBA) can be a gateway to high salaries and career opportunities, but this degree program might not be right for everyone.

For students looking to enter the business world, an MBA is often the key to their career goals. This graduate degree is an early stepping stone in the career path for business school students looking to become executives and other high-level industry leaders.

However, before embarking on any graduate program, it's important to compare your options to ensure that the program is right for you and aligns with your goals.

What Is an MBA Degree?

An MBA refers to a Master of Business Administration. This is the most common graduate business degree that students earn.

MBA graduates are equipped with various business and leadership skills and position themselves for upper management and executive roles. Graduates from MBA programs also tend to have higher salaries than graduates with a Bachelor of Business Administration (BBA).

Most MBA programs take about a year or two to complete after finishing an undergraduate degree program. Traditional MBAs offered on-campus or online will usually take about two years, while many colleges offer accelerated online MBA programs that can be completed within a year.

What Does an MBA Student Study?

MBA students study general business topics, but most programs also include a more focused look. MBAs, like other business degrees, offer concentrations or specializations, such as marketing or finance. Still, there will be some similarities around core classes, which will be an extension of an undergrad business degree with classes like human resources, accounting, and business ethics.

Beyond the actual courses, the general theme of MBA studies is entrepreneurship. Because there is a high correlation between MBA graduates and executives, knowing how to start and run a business is key. Most MBA programs focus more on enterprise-level business studies as opposed to more frontline work done in undergraduate degree programs.

Why You Should Consider an MBA Degree

Although it is possible to become an executive or start your own business without a master's degree, the career path to a dream job is often easier for MBA graduates.

If you're still wondering if you'd make a good MBA candidate, there are several reasons you should consider it.

Higher Salaries

One of the biggest reasons that students start an MBA program is because of the higher average starting salaries and higher earning potential. On average, MBA holders earn more money for various reasons, but mainly because of the increased skill set that comes with completing a graduate degree in business.

It's important to know that a degree doesn't guarantee a certain salary rate, but the average salary is generally higher for MBA graduates than for those who hold a bachelor's degree.

More Career Opportunities

Ultimately, any student who attends a school of business likely is looking for a full-time job after graduation. A graduate with an MBA will have more career opportunities than undergraduate degree holders. Not only will there be more options in terms of higher positions earlier in their careers, but MBA holders also will have more opportunities for growth within companies.

Expand Your Leadership Skills

An undergraduate business degree covers some aspects of management, but an MBA will go deeper and provide graduates with the skills needed to go into leadership roles ranging from upper management to executive roles. Leadership theory is a core part of nearly all MBA programs, and learning more about these skills can help open the door to many career opportunities.

Alumni Associations and Networking Opportunities

There's an adage that says, it's not what you know, it's who you know. Professional networks can be developed by attending a graduate business school and can be almost as valuable as the education you receive.

Convenient Online MBA Programs

Many accredited schools offer traditional and accelerated MBA programs fully online. If you have hesitated to start an MBA program due to the time commitment, pursuing a degree online part-time or in an accelerated format can help lower barriers to attending a graduate program. Online programs also allow for more flexibility than their in-person counterparts.

Specializations For Career Advancement

An MBA can help people working in specialized areas of business acquire additional skills that will aid in career development. Many specialized roles in a company require a bachelor's degree, giving people with MBAs an edge in the eyes of recruiters.

Better Knowledge Base For Entrepreneurs

Not all MBA graduates aim to work for another person's company, though. MBA programs cover various topics that can inform entrepreneurs on how to create their own startups. The coursework in an MBA program teaches skills about decision-making and different aspects of business that people can use to start a company.

Running a business can be a very complicated venture. While it is possible to run a business with an undergraduate degree and real-world work experience, the deeper understanding of business practices that comes from an MBA program is invaluable.

Job Opportunities for MBA Degree Majors

If you want to become an MBA major, you likely already have some career opportunities in mind. However, others may still wonder where their MBA may take them post-graduation.

Some of the top career opportunities for MBA graduates are:

MBA Degree: Questions To Ask Yourself

Before you fill out your MBA application, there are many questions you should ask yourself. Being able to answer these questions can help you determine an MBA's worth to you.

Do I want to be an upper-level manager or executive?
Does the career I want to pursue require an MBA?
Do I thrive in leadership roles?
Do I enjoy coordinating multiple different departments for a single purpose?
Do I want to start my own business in the future?
Am I looking for higher promotions in the current company I work for?
Do I want more skills around starting and running a business?