An MBA is a highly sought-after qualification in the world of business, but how will it enable you to succeed and further your career? Here are 10 ways an MBA will prepare you for company profitability and an executive level role.
Taking an MBA will help you to grow and develop your professional network, which is essential for furthering your career in business. By successfully networking with others during your course, you will meet other professionals, students and entrepreneurs who have like-minded goals. Your next big career opportunity could develop from one of these connections. Good networking involves meeting people and companies that inspire you to go further. An MBA degree from an institution like Hult International Business School will encourage you to network as much as possible, so you can establish connections that will lead to opportunities long after you have qualified.
Secure your next career move
With an MBA course, you can prepare for your next job move by finding internship opportunities or work experience while studying. Doing so can also be great experience and give you opportunities to utilise leadership and communications skills you have gained. In addition, many executive business positions require an MBA as some form of evidence that a candidate understands the advanced concepts of business management. By studying for an MBA, you can look for such positions knowing that you meet the desired criteria.
Connections with big organisation
Studying for an MBA will help to project your career forward by exposing you to global business case studies from organisations all over the world. From these, you will learn valuable business skills, and establish connections within them from contact via networking and guest speakers.
You will have the skills to launch your own businesses
An MBA will give you the education you need to start your own business from the ground-up. While many entrepreneurs may not consider a formal business education, those that do acquire the knowledge they need to formulate and execute a successful business plan, covering everything from leadership and business management, to marketing and finance.
High wage potential
People with MBA degrees on average earn more than their counterparts who do not, with salaries ranging from between £70,000 to £120,000. Likewise, many employers favour those with MBA degrees, as the qualification has a market value in terms of preparing students for management positions in the business world, i.e. little training is required. In turn, employers pay MBA graduates increased salaries for this pre-taught experience.
The obtaining of an MBA states recognition and credibility in the business world, instantly making you more employable. An MBA demonstrates that you have had substantial training in various areas of business organisation and management, with leadership experience. The degree is compatible with other degree programs, and certifies that the holder of the qualification is competent enough to secure a managerial or executive role within a company. It is recognised across the world, and shows that additional skills have been learned in areas such as financial management, leadership, networking, conflict resolution, persuasion, time management, marketing and finance.
Enhancing communication skills
During an MBA course, students are taught the importance of communication within business and how to speak and prepare written papers effectively. Courses cover how to deliver speeches and business presentations, as well as how to interact with other business people and employees to a professional standard. This in turn increases confidence.
Anyone from any background can pursue an MBA if they want to enter the world of business. It is common for other professionals from areas such as retail, property and real estate sales, insurance or marketing to take an MBA to broaden their business skill set, or because they have the desire to create their own start-up. An MBA can give a person career avenues into consulting, investment banking, private equity and the non-profit sectors, too. Many institutions offer guidance for students on how they can utilise their MBA skills within other areas of interest to get the most out of their qualification.
Understanding risk management
An MBA will teach a business student how to manage, carefully assess and take appropriate risks in business in order to build their own business or lead from the front as a manager or CEO within a company. Risks should always be taken with careful consideration as to how they will impact on a business, but a well-calculated risk that pays off can reap great rewards. An MBA will give a student confidence and knowledge in this area.
AN MBA course will have a strong focus on management, leadership and developing students’ confidence levels, so that graduates can take these skills and apply for senior and executive positions within companies. Good management skills are essential for career progression, teamwork, effective communication between colleagues and successful business expansion and growth.