As a new or previous college graduate, you may have been relieved to finally earn your bachelor’s degree. However, many college graduates are now finding themselves heading back to school to obtain a higher degree due to the current job market. Here are seven reasons you should go back to school for an Master’s in Business Administration (MBA) degree.
You Receive a Higher Salary
Many college graduates start their first job making a decent salary based upon their college major, type of job, and city location. Studies have shown that the average salary for an MBA graduate is $100,000 per year and that MBA graduates earn around $40,000 more per year than graduates with only a bachelor’s degree.
You Can Change Careers Change
Although many people think that MBA graduates can only work in the business industry, there is often a need for MBA graduates in all types of industries, such as government and technology. If you are currently working in a dead-end job and are looking for a career change, obtaining an MBA can help you break into a new job field without having previous experience.
You Learn New Skills
Many MBA programs are designed to provide its students with the knowledge needed to enhance their skills in areas such as writing, accounting, and public speaking. If you feel like you need help in a certain area or want to learn a new skill, you can enroll in a MBA program and take courses to help you learn.
More Career Advancement Opportunities
As a college graduate, you may find yourself starting your career in an entry-level management position. In order to move up within your company, your employer may require you to stay within the same position to gain more experience. To show your employer that you are interested in moving into upper management, you can enroll in an online executive MBA program to help you move up the career ladder more quickly.
There’s Great Networking
Although you may know a lot of people, it is important to build relationships with people within your industry. Most MBA programs have students with a wide range of work experience and different backgrounds. By developing relationships with your classmates, you can create a great networking system to help you land higher-paying jobs or find a career mentor.
You Could Start Your Own Business
Starting a new business can be a challenging task without the right skills and/or knowledge. If you wish to start your own business, an MBA can teach what you need to know to get started. As part of your MBA program, you should enroll in courses that focus on entrepreneurship and business strategies.
Improve Your Management Skills
Becoming a manager requires an individual to have a wide set of skills, such as people skills and problem solving. To help you improve your management skills, a MBA would be beneficial due to the emphasis on leadership training and teamwork.
As you can see, there are many reasons to return back to school for a MBA degree. With the right purpose and drive, you can utilize all of these benefits to help improve your future career.
Normally, I would agree with pursuing an advanced degree. The benefits listed above ring true. However, in this environment, racking up more student debt without a job or a guarantee of employment, is not a wise move. I would recommend postponing the advanced education until things get back to normal.