por Before delving into the hidden benefits of graduating with an MBA, it’s worth reviewing the best-known facts about these degrees.
Together, these advantages are why the MBA has become a standard credential among hiring managers selecting candidates for corporate decision-making positions.
The types of jobs that MBA graduates typically go for cover a variety of positions, tied to corporate leadership at all levels. As reported by PayScale, these vacancies include project manager, senior financial analyst, human resources manager, and C-suite roles such as chief financial officer.
When looking for someone to entrust with leading the team, hiring managers can turn to a candidate who has earned a degree in business administration, demonstrating a good mix of interpersonal skills and decision-making experience.
An MBA degree can not only open the door to more job opportunities, but it can also increase your earning potential. The National Association of Colleges and Employers estimated that the average salary for MBA graduates in 2020 was about $79,043, about $20,000 more than graduates with a business degree. Hiring managers seeking employees for high-paying positions that have the potential for further advancement are looking for employees who have already demonstrated their skills and dedication to management excellence. Completing an MBA program can help you earn that distinction.
Additionally, MBA graduates may have better job prospects when the hiring market is tough. The Financial Times reported that during the height of the first wave of the COVID-19 pandemic, 2020 graduates with MBAs found more hospitable conditions than people with college diplomas. Large employers, including household names like Google, Amazon and Netflix, often focus their hiring on business school students, and that didn’t change dramatically in the hard-hit pandemic economy.
Earning an MBA can be an important step on a career path that leads to high-level opportunities, the earning potential that comes with those positions of authority, and a greater level of security in those important roles. Those reasons are compelling and may be enough for you to consider enrolling in a program. However, there are many other advantages. These are more subtle, but can positively affect your business path.
What are the hidden benefits of earning an MBA?
While career advancement, job security, and increased salary are some of the most sought-after benefits of an MBA degree, there are other hidden advantages you should also consider. While pursuing an MBA program, you can gain knowledge and experience that will help you amazingly as you advance in your career. The best business schools will help students emerge as well-rounded, skilled professionals, and this type of education goes beyond core class curricula.
Here are five lesser-known but equally important advantages of earning an MBA.
- Grow your professional network
In your MBA program, you will collaborate with like-minded students and have many networking opportunities to meet other professionals. You can foster meaningful connections with various people who can deepen your understanding of the business world:
Students: After choosing your MBA concentration, you will be surrounded by peers with the same ambitions and similar experience as yours. Project collaborations and discussions with your cohorts are great occasions to forge connections and help each other by sharing your knowledge. Other MBA students understand what it’s like to earn a master’s degree and can be your best support system.
Instructors: The MBA program instructors are recognized experts in the field and challenge the business leadership potential of their students. Sometimes this involves pushing students beyond their comfort zones and placing them in circumstances that test their adaptability. Your instructors are also your mentors and want to see you succeed. The relationship you build with them can be valuable even beyond the classroom.
Professionals: During and after your program, you will have numerous opportunities to network with professionals in your field. Don’t hesitate to ask them questions or ask for advice, as this can be the beginning of a long-term professional relationship.
Alumni: After earning your MBA, you will always be connected to a network of alumni with shared experiences.
After you graduate and advance in your career, this group of alumni can help you find new opportunities. 2. Acquire an international perspective
