Is Earning an MBA Worth It?
A Master of Business Administration (MBA) degree is an advanced degree program for those who want to build or boost their business skills. When you’re busy working, you might wonder if taking the time and spending the money to earn this type of degree is worth it. Knowing more about the ways in which an MBA can have a positive impact on your career and even enhance your life can help you make this decision. Keep the following information in mind about the value of an MBA degree.
1. Develop Entrepreneur Skills with Your MBA
Why is earning an MBA so valuable? When you go through an MBA degree program, you’ll learn the skills needed for running a business. These programs teach you how to improve your leadership skills, manage company finances, handle different kinds of crises, and recruit highly talented employees. You’ll gain experience using different types of management techniques and learn about various management tools as well. These skills and experiences can help you become a business owner or manage your company more efficiently if you already own a business. Throughout your MBA program, you’ll have opportunities to improve your strengths and weaknesses in order to become a successful business owner.
2. MBAs Are Seen as One of the Most Valuable Professional Degrees
While earning an MBA takes time and money, it can end up paying off in terms of your salary and job opportunities. In fact, having an MBA can put you above the competition and help you earn a promotion, or a higher salary compared to those who do not have this degree. Employers in several industries regard MBAs as among the most valuable degrees that an employee can have. When you have an MBA, this indicates your willingness to go above and beyond when it comes to improving your business skills. Employers take this into consideration when deciding which applicants to hire and which employees to promote or incentivize with raises.
3. You Learn Skills That Can Positively Impact Your Everyday Life
Although having an MBA is mainly done to improve career prospects, this type of degree can also boost your quality of life. When you go through an MBA program, you’ll be learning skills that you can put to good use on an everyday basis. For example, you should learn how to manage finances, which you can use to keep your own personal finances on track. You’ll also learn how to improve your communication and interpersonal skills as part of your degree program, which can make it easier for you to interact with others on a daily basis, even away from your job. These kinds of skills can have a positive impact on your life overall in addition to helping you succeed in your career.
4. An MBA Can Put You on Track for Your Dream Career
You might have your sights set on a certain career while lacking the skills needed to accomplish this goal. With an MBA, you’ll be able to learn the necessary skills for achieving your career goals. If your goals include a leadership or management position, for example, you’ll gain the skills and education needed to take on greater responsibilities. Keep in mind that many employers look for those who have an MBA degree when hiring for management positions or promoting employees to these positions from within the company. If your career goals include starting your own business, an MBA degree program can help you accomplish this. You’ll have the knowledge and skills needed for running a business and helping it thrive.
5. Feel a Sense of Accomplishment
Earning an MBA can provide you with benefits that go beyond your career goals. Putting in the time and effort needed to earn this type of degree can give you a strong sense of accomplishment. Having an MBA means you’ve spent hours learning the skills needed for your career and completed projects and assignments that challenged you to put those skills to use. It also means you’ve successfully passed exams that test your knowledge. Having this sense of accomplishment can improve your self-confidence, which is an important benefit when it comes to finding a job, starting a business, or working toward a promotion in your current company.
6. You Can Earn Your MBA Online or in Person
Earning an MBA doesn’t necessarily mean you have to attend all your classes in person, which can be difficult to do when you’re working full-time. You can find degree programs that provide flexible options for those who want to earn an MBA. Some of these programs offer online MBA degree programs which allow you to continue working with minimal disruption to your schedule. Online programs make it easy to watch class lectures on your own time and complete school assignments and projects while working on a full-time or part-time basis. If you prefer going to classes in person, you can find programs that take place fully on campus. You can also find options that offer a combination of online and in-person classes if this arrangement fits your situation better. At the University of Tennessee at Chattanooga (UTC), our Master of Business Administration program offers different options for students, including 100 percent online or a flexible MBA with a mix of in-person and online classes.
7. Exude Pride with Your MBA
Having an MBA can give you a sense of pride which can go a long way toward enhancing your quality of life and boosting your career prospects. While an MBA mainly teaches you practical skills for succeeding in business, it can also raise your self-esteem and help you feel confident that you have what it takes to achieve your professional and personal goals. You can carry that sense of pride into job interviews, pitches for a promotion, or meetings with new clients if you’re running your own business.
8. Gain Access to an Extensive Business Network
Networking is an important part of being a successful business leader and finding opportunities to enhance your career. When you earn an MBA degree, you’ll have access to a network of MBA alumni who can provide you with valuable insights on running a business and putting your MBA skills to use. You’ll also be able to network with other MBA students, as well as faculty who have in-depth knowledge and experience in the business world. You might also have networking opportunities through your MBA program, such as access to industry events and conferences. These opportunities can put you in touch with business leaders in your local community or region.
If you’re interested in earning an MBA, please contact UTC to learn more about the degree program options at our Gary W. Rollins College of Business. With our entirely online and flexible degree program options, you can choose the option that best fits your needs.