There is little doubt that a college education is vital in providing an individual with the tools they need to help them succeed in their career. The United States Bureau of Labor Statistics (BLS) found again in 2011 that the higher degree an individual earns, the lower their unemployment percentage is likely to be and the higher their median weekly salary is likely to be. Among the most highly touted graduate degrees is the Master of Business Administration (MBA).
This raises the question, what can an MBA do? Aside from the obvious benefits to earning an advanced degree, such as critical thinking and analytical skills, there are a number of other things an MBA can do for graduates.
Not All Degrees Are Created Equal!
While an MBA can help you for effective leadership in today’s fast-paced business world, not all of the MBA degree programs out there are the same. When examining any MBA program, make sure the program is accredited by an accrediting body, such as The Accreditation Council for Business Schools and Programs (ACBSP). ACBSP accreditation certifies that the teaching and learning processes of these programs within a business school meet rigorous educational standards. ACBSP is a leading specialized accreditation association for business education supporting, celebrating, and rewarding teaching excellence. Established in 1988, ACBSP is the only business accrediting organization for all associate, baccalaureate, and graduate degree programs.
A degree in an accredited MBA program can be the differentiator in today’s competitive job market, so be sure to ask questions about accreditation when talking to any college or university.
Diverse Career Options
As many would expect, an MBA may help open the door to a variety of positions within the field of business, but what about other career options? An MBA can lead graduates to positions in a number of other career fields, including politics. MBA degrees include coursework in a variety of areas ranging from accounting and marketing to business policy and sociology.
According to Yahoo! Education, the variety offered in a business administration program provides graduates with a strong educational foundation that can help them succeed in the realm of politics. As an example, it was noted that even some Presidents of the United States, notably George W. Bush, graduated from MBA programs. Before aiming for the most powerful political seat in the world, students should realize that many will first pursue lower-level jobs working in government management positions early on and that many positions required years of experience in addition to a degree.
Useful in the Real World
Yahoo! Education recently ranked the MBA as the third best degree on their list of the best degrees for the real world. MBA programs offer students a well-rounded education in business concepts that make them more attractive to potential employers when seeking higher level positions in the world of business.
According to Yahoo! Education and the 2011 Graduate Management Admission Council, 57% of MBA grads had job offers by mid-March of 2011. That was an improvement over the 40% rating for 2010. Additionally, three-quarters of MBA grads credited their MBA degree with being vital to them landing their first job.
What makes the MBA so useful to these graduates? The diversity of courses offered as well as specialized areas of study within the program provides students with opportunities to work hands-on with real world scenarios and are challenged to defend their business solutions.
Boost Salary Potential
Yahoo! Education recently highlighted six careers with solid earning potential, and an MBA was shown to be a preferred degree for some of these in-demand careers. The top two positions on Yahoo!’s list, medical/health services manager and accountant respectively, require an MBA in most cases. While not every individual seeking these positions will need an MBA, Yahoo! Education pointed out that many employers will seek out candidates with an MBA when hiring for these positions. Of course, everyone’s experience varies, and some positions will require additional work experience as well.
There are few questions as to the benefits of earning a Master of Business Administration. Above are just a few of the things that an MBA can do for graduates, but it is important to remember that not everyone will reap every benefit available from an MBA degree.