Taking your career to the next level requires dedication, hard work and motivation; all the things successful MBA graduates possess.
But after all that studying for your undergraduate degree and working hard to climb the career ladder, do you really want to begin studying again? It might seem like regression to go back to being a student, but an MBA can open up many opportunities and equip you with all the business acumen you need to take your career forward.
Managing your studies and work responsibilities might initially appear a daunting step, but it is possible – and your employer can help towards this too. You will also have the chance to gain unique experience as well as expertise in your chosen field, which will prove invaluable throughout your career.
What is an MBA – and why should you study for one?
AN MBA is otherwise known as a Masters of Business Administration, and is a well-respected qualification that can help you progress further in your chosen field. MBAs are typically focused at those with an ambition to aspire to management roles and study to improve upon their business skills.
An MBA can be the stepping stone to a career as a director or even aid those wishing to start their own business and build upon their entrepreneurial skills. It’s more than just a certificate, it’s a viable way to expand your knowledge of business and challenge yourself.
Why choose a specialism?
Choosing a specialist niche might initially seem like narrowing your potential, but focusing on one subject in particular can benefit you in the long run. You will improve your knowledge of this area and be able to hone your expertise, making you a more valuable candidate for jobs in this sector.
Building your network is easier to do when you’re surrounded by like-minded people on a specialist course. Particularly with sectors such as finance, it can be beneficial to have strong contacts who can offer support and advice on industry changes and regulations.
These contacts can help you in the future with job opportunities and the friendships you make on your course don’t have to finish when you graduate.
Other than adding a respected qualification to your CV, an MBA has numerous other benefits for your career – making it worth the hard work and fees.
Graduating with an MBA can set you up for a better future with better advancement opportunities. In a study conducted by AMBA, the professional body responsible for the accreditation of MBAs, it revealed 32.5% of respondents were at Junior Management level before starting their MBA studies. This immediately dropped to 18.8% after graduating, and only 5.1% were still at this level a few months later.
Additionally, AMBA data showed that in 2014 the average salary of an MBA graduate from an AMBA-accredited school stands at over £82,000.
Striking the balance between work and studying
The flexibility of an MBA means it doesn’t have to be all work and no play, it’s possible to study and still have a social life. Balancing MBA studies around a job is also possible, with many employers actively encourage their staff to pursue further training and development.
Seeking funding from your employer is one option to getting your MBA qualification, and it can show commitment to your employer as often you will have to agree to stay at your current company in order for them to invest in you.
Take your career to the next step
An MBA course is a challenging environment and requires a committed individual who can focus their time between studying and getting experience in a work environment, as well as pushing their knowledge and expertise. You’ll experience new environments and also have a chance to make solid contacts in your field, which can help you throughout your career – even after graduation.
Whether you’ve decided an MBA is right for you or whether you simply want more information to make an informed decision, there’s plenty of material available to tell you about every aspect of an MBA; from the hard work to the career benefits and job opportunities.
Niamh Spence is a writer for Manchester Metropolitan University, who offer an MBA course with three specialisms; Financial Services, Digital Management, and Strategic Health and Social Care. For more information, download their free guide to studying for an MBA.