Going back to school to earn an MBA can help you open the doors to the career you want and get you started on the path to success. While an MBA degree can hold tremendous benefits for students at any point in their careers, there are a number of reasons why 2021 is the right time to go back to school to pursue this valuable degree. If you’ve been wondering whether now is the right time to continue your education with an MBA, here is a list of nine exceptional advantages you should consider:
1. Economic recessions are, historically, opportune times to pursue an MBA degree
The 2020 pandemic caused tremendous economic upheaval impacting people across industries and in countries around the world and for many people, that upheaval has continued. For prospective MBA students, however, this disruption is an opportunity for change and professional development.
As unfortunate as job loss or a cut in hours can be—it also provides an opportunity to enter an education program with fewer constraints. There is no need to be concerned about suffering additional economic losses due to quitting a job or stepping back from a competitive position in order to start a rigorous MBA program—the high-quality Flexible MBA and 100% Online MBA programs offered at UTC can, in fact, help you succeed in a competitive job market2
2. Prepare for the economic changes coming
No one knows how long the impacts of the pandemic will last. As businesses continue to pivot and adapt, aspiring professionals will want to position themselves for optimal career growth while the economy recovers by pursuing an MBA now. They will have a greater chance to find the jobs they want when the opportunities present themselves.
3. Schools are starting to get back to a regular rhythm
Many institutions struggled to acclimate to the online format and school closures likely disrupted studies. Now that many of them have refined their distance learning models, higher learning institutions are better able to accommodate students wanting to continue their studies from remote locations. If you are in search of an MBA delivered online, you may want to refine your search to universities that have a proven track record and years of experience in online delivery, like the Online MBA at UTC.
4. Take advantage of technology
Amidst the challenges that 2020 presented, it also stimulated tremendous growth in telecommunication. Video conferencing platforms enabled people to connect personally and professionally without having to meet in person.
MBA students pursuing their degree can continue pursuing their education in a meaningful way without having to leave the comfort of their homes. They can also participate in networking events and connect with other professionals without the concern of travel restrictions.
Forming study groups with fellow students has also been simplified through telecommunications. Many might even find it more convenient as they work to balance their current jobs with their course loads.
5. Strong job and salary projections
A Master of Business Administration is extremely valuable. It still sets students up for strong careers with a better shot at an excellent starting salary. In an analysis by the Graduate Management Admission Council, hiring of MBA graduates is projected to rebound throughout 2021, with a median salary estimate over $100,000 annually.
6. Flexibility in the program
Students sometimes feel uncertain about when to enter an MBA program because even if work slows down right now, it might pick up again in the future. This can be particularly true for people and businesses eagerly looking forward to the end of the pandemic and hoping to resume normal activities in the near future.
MBA programs, however, can work particularly well in these situations. Typically, master’s programs offer a fair amount of flexibility. MBA candidates can generally choose whether they want to study full-time or part-time, which allows them to adjust their course load depending upon other factors, such as their employment status. If things change for them, they often have the ability to adjust their course pace so that they can continue working towards their desired degree across a variety of circumstances.
At UTC, our established Flexible (Campus) MBA program and 100% Online MBA program enhances this flexibility even more, which helps our students continue their studies around their personal and professional responsibilities.
7. Prepares you for entrepreneurship
Entrepreneurship exploded in 2020. Ninety-six percent of entrepreneurs report that the pandemic motivates them in their businesses. Earning an MBA can prepare you to join the growing number of entrepreneurs seeking to build their success.
An MBA also prepares students by providing insight into the business world, training in how to analyze and think outside the box, and a fundamental understanding of how to find and seize opportunities—all key qualities for entrepreneurs.
The MBA at the University of Tennessee at Chattanooga offers students a core class in Corporate Entrepreneurship and an additional elective in entrepreneurship.
8. Opens a number of career paths
An MBA can also prepare you for a wide range of career options and positions. Here at UTC, students also have the option of customizing their programs with concentrations such as business analytics, finance, or healthcare. With this flexibility, students can set themselves up for success in a broad range of fields. With the economic and business changes expected in the coming years, MBA flexibility can help students diversify their credentials and find the emerging opportunity that is perfect for them.
9. A good investment in your future
An MBA provides students with an excellent investment in their futures. When the changes caused by the recent pandemic have long passed, the experience and education earned through a quality MBA program, like those at UTC, will help you excel professionally throughout your career. It is an investment in the future that will pay off for the rest of your professional life.
If you have been thinking about pursuing your MBA, 2021 might be just the year for you to go back to school. Consider the advantages that this academic year can offer you and learn how you can make one of the convenient and flexible MBA programs from UTC work for you.