After completing their undergraduate degree, many new graduates face the next big challenge in their educational path: deciding whether or not to continue their studies and they ask themselves what is the benefit of studying an MBA and why. They have good reason to be skeptical, graduate studies can be expensive, but in the long run, the benefits of holding an MBA far outweigh the disadvantage of its price, investments of time and hard work.
1. Keep up with the competition
There is high demand for MBA graduates. The countries with the biggest markets for jobs requiring MBAs are the U.S., India and Brazil, with the majority of openings within the finance, consulting and technology sectors. Just take it from Dell’s university relations and diversity manager, Maria Crabtree: “By hiring MBAs with expertise in specific areas, we know that we’re bringing in team members that have had the appropriate training necessary to add value and succeed.”
A large part of the value proposition for employers is soft skills, such as communication and critical analysis. These are developed during MBA programs through debates, collaborative activities, case-study analyses and presentations.
2. Statistic says you will get a higher salary
Increased pay is surely one of the main reasons to pursue an MBA. Graduates can expect a significant increase in salary after graduation, as employers acknowledge the advanced and specialized skills acquired during the program and financial investment in tuition fees. On the other hand, it is important to have realistic salary expectations during the job search process.
In comparison, the average salary for MBA employment in Western Europe has surpassed expectations this year. Switzerland, Belgium, the U.K. and Ireland have the highest salaries in the region. In Belgium, graduates can expect an average salary of $129,000. Interestingly, however, citizens from Western Europe are more often contacted by recruiters based in the Middle East and Africa. Western Europe happens to be the region that recruits the most internationally, making them by far the world’s most outward-looking region in terms of MBA employment. Great news for non-Europeans.
3. Higher chances of holding a high-level management position
So, why an MBA is important for your career? Another great reason to study an MBA is to move up to a high-level management position. As reported by Fortune, 40% of S&P 500 CEOs in any given year have an MBA. Many employers search specifically for MBA graduates in the hopes that they will grow with the organization.
“One of the key things for MBAs is that we’re trying to bring in people who can be future leaders within the company.”
University Recruitment Lead for the Americas at Cisco
Specialize in a field that you are passionate about! Focusing on a specific field gives graduates the opportunity to add to their existing business knowledge, since the specialization courses of the program prepare students to change to a new industry or start their own company if they wish.
“I thought: now I have the background, I have the experience, and I also have the schooling and the degree. So, in 2000-2001 I became independent and I founded my own company, Trade Resource GmbH.”
EU MBA alumna, Founder & Managing Director at Trade Resource
4. Refocus your career
There are many countries in which the labour market is static and you won’t get hired in a management position if you don’t have a previous experience in the same sector. Studying an MBA is the fastest and most effective way to refocus your career, as you will deeply enhance knowledge in the sector of your interest and you will acquire in months the skills your competitors got in years of hard work. Maybe you have a marketing background but you believe that now is the moment of the blockchain, or you are a salesperson but you believe that the future of sales is digital marketing. Whichever your situation is, check out the complete list of EU Business School’s MBA programs.
5. Become your own boss
If you are thinking to launch your own startup and be your own boss, an MBA is a must for the following reasons:
– You will find among your MBA mates or in the professional network of your business school the perfect partners to start your own company.
– You will get high credibility when you will look for Venture Capital or investors.
– You will acquire the ability to influence others.
6. Grow your professional network
The professional network of a business school is so important that many students choose their MBA for the connections they will establish thanks to it. So, when you join an MBA, try to participate to all networking events and be ready to share your digital business card. As a member of the association, you will be able to exchange advice, career opportunities and enjoy a long list of advantages.
7. Experience new places and cultures
Many MBA applicants ask themselves what skills does an MBA give you apart from the knowledge derived from learning the taught programs. An MBA is a wonderful opportunity to study abroad. While you are studying to enhance specific knowledge, management and communication skills, you can also learn a new language and expand your connections in a foreign country. At EU Business School we offer the opportunity to study every semester in a different campus, so you will have the opportunity to learn Spanish and Catalan in our Barcelona Campus, German in our Munich Campus and French in our Geneva or Montreux Campuses.