When it comes to making decisions in life the first question anyone should ask themselves is “why?” This is as true for education decisions as it is for any other decision in one’s life. Before pursuing an undergraduate degree or returning to school for a graduate level degree, individuals should ask themselves why they are doing this.
Business professionals considering a Master of Business Administration (MBA) might be struggling to decide whether or not the investment of time and money are worth it for them in the end. The following are just a few reasons for them to consider earning an MBA.
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.
MBA Degrees are Trending in 2012
According to Yahoo! Education the MBA ranks among the top six degrees that are currently popular among students and employers. The MBA is a popular choice among students because of the boost it can provide to their career, and employers often look to hire management and executive-level candidates with MBA training in-hand.
Most individuals strive to climb the ladder in their career, not simply work on the same level from graduation to retirement. This makes the degree trendy among individuals because it allows them to couple their work experience with an advanced education and move up in the field. Employers like the well-rounded education business professionals in MBA programs receive. Coursework varies from finance and marketing to human resources and accounting.
Launch a New Career
Many professionals find themselves hitting the glass ceiling at some point in their career. The reasons can vary, not enough experience or additional education, but one solution is to go back to school. Yahoo! Education recently ranked the MBA as one of the top degrees for those looking to start a second act to their career.
Earning an MBA has multiple benefits when it comes to one’s career. It can help open the doors for advancement within a current industry, train an individual to move into a new career field with greater possibility for advancement, and it can all be accomplished without having to leave their current career to study. Of course, everyone’s experience will vary, and experience in their field of study is an important factor as well.
The main reason that most professionals choose to return to school is to help increase their salary potential. This is one of the reasons for business professionals to work toward earning an MBA, but there is a caveat that is worth pointing out. According to Monster.com, simply getting an MBA is no guarantee that salary will be boosted in the end.
As Katie Bardaro, lead analyst at Payscale.com points out, “Getting a higher degree is not always a win, so you really have to be aware of [the difference between] what is common in your field and what is desired in your field.” Bardaro goes on to identify seven areas of specialization commonly offered in MBA programs that have the greatest payoff in terms of salary post-graduation.
Those fields include finance, international business, marketing, information systems, technology management, business management, and accounting. Specific salaries vary from position to position within each of these areas of specialization and based on other factors like geographic location.