In this article we’ll discuss 4 reasons to study MBA. Here are the top 4 good reasons to do MBA Degree
Learn advanced management skills that are flexible and adaptable
MBA applicants typically have less than two years of experience and are often young business people. Senior employees may also apply if they are up for the challenge.
MBA classes can help you to develop the skills needed to make your company successful. Each Master of Business Administration program has a different curriculum, but these are the most common skills you will develop depending on which study programme you choose.
- Leadership and people management skills can be improved
- Promote, develop and sell your products or services
- Create connections and partnerships by networking
- Manage difficult situations (e.g. Financial crisis, public scandals
- Maintain a healthy company’s financial condition
- Collect, interpret and create reports using industry data
- Hiring top talent is key to employee retention
- Establish hierarchies to help your company prosper
Read more about Executive MBA by IIT Bombay and Washington University in St. Louis
An MBA degree requires you to step out of your comfort zone. The MBA program will allow you to explore international business trends and apply the most recent management tools and techniques. You will also be challenged to improve your business, team, and collaboration.
A MBA can help you prepare for changing business environments. Your abilities are the best way to adapt to changes in the market, industries, and business practices.
You can use the skills you have developed to quickly adapt to changing careers and help you find a new path. You will also be able make the most of economic changes and locate new business opportunities in a world where many others are just trying to survive.
There are many MBA specialisations that will suit your specific goals.
Many universities and business schools offer a variety of MBA programs that focus on different areas of the business world because of their international popularity. What MBA specialisations are available? Which is the best? Which MBA subjects are most in demand?
General Management – the most preferable MBA specialization. This is a great way to build a business strategy that works in all situations.
International Business – This specialization is best if you love to work at different location globally. This is a great way to align business goals across borders. This is a popular specialty as global businesses are expanding.
Strategic Management – This specialization is for long term and backup business planning
Finance – This specialization if for financial manager, financial controller and CFOs. The courses will cover Statistics, Data Analysis and Accounting.
Marketing – It makes you the best marketer that helps promote a company in the most convenient way.
Entrepreneurship – This specialization is for New Ideas and startup lovers.
Operations Management – It helps optimising production processes and how to optimize production.
IT Management – This specialization is good for tech savvy lovers who wants to do business that rely on technology. This business depends heavily on the analysis and development of products based on that data.
Human Resources – This specialization prepares you to manage people in company for business growth. This course focuses on team development, conflict resolution, motivation, job responsibilities, and more. This one is for you if your passion is people. Companies will always require happy and competent employees.
Consulting – prepares for challenges faced by companies. This specialty also allows you to develop your knowledge in many sectors and is highly paid.
There are many MBAs that offer dual specialisations. This will allow you to further enhance your management skills and increase your job-market flexibility’s .
Must Read: 15 Tips to Manage Your EMBA While Working
Access to a large business network
You have many networking opportunities as an MBA student.. You get a chance to interact with teachers, professors and students. This will help you to expand your business management skills.
Finally, you have access to the vast alumni network for that MBA program. You will gain a broad view of the business environment through your connections. You should be prepared to learn about the smallest changes in the business environment, and find new ways of adapting quickly. It is possible to reflect on major business issues and connect various global events with world affairs.
MBA salaries are among the most competitive on the job market
The most important benefits of an MBA include job security and a high salary. An MBA graduate’s average income is significantly higher than that of an employee with a regular Master’s. Earn twice the amount you’d earn from a regular university education.
Here are some top career options for MBA graduates: management analyst, market researcher analyst, top executive and HR manager.
Average salary for MBA graduates
According to the QS below are the most earned MBA Salaries
- The US: 102,100 USD/year
- In Canada – 99,800 USD/year
- Australia: 98,400 USD/year
- In Singapore – 82,700 USD/year
- The UK: 92,400 USD/year
- In Switzerland – 123,500 USD/year
- Germany: 77,200 USD/year
- France: 98.500 USD/year
- Italy – 86.400 USD/year
You can pay off the cost of your MBA education in two to three years.
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Average MBA tuition fees
A MBA program is a significant financial investment. We have listed the average tuition cost in top study destinations that offer MBAs to give you an idea of what you might be paying.
These countries offer MBA degrees that are more affordable (under 10,000 EUR/academic-year). However, tuition fees at top business schools may be higher than the average. MBA programs are available for as low as 60,000 EUR/year, with the most expensive being over 100,000 EUR/year.
- The USA – 35,000 EUR
- The UK – 20,000 EUR
- Australia – 17,000 EUR
- Canada – 25,000 EUR
- Spain – 20,000 EUR
- Singapore – 35,000 EUR
What countries offer the best MBAs?
By default, MBA programmes don’t come cheap. You don’t need to spend a lot to improve your business career. These countries offer Masters of Business Administration that are very affordable, or even free.
Finland – For EU&EEA students 0 EUR only
Sweden – For EU&EEA students 0 EUR only
France – For all international students 0 – 9,000 EUR/year
Austria – For all international students 0 – 10,000 EUR/year
Germany – For all international students 0 – 9,000 EUR/year
This list is by no means complete. There are many top destinations where you can get a MBA degree at an affordable price, such as the US and UK.
What MBAs are the most lucrative?
While all MBAs have high salaries, some industries pay more than others. Here are the top 5 MBA categories that pays a good salary.
Consumer packaged goods
You can earn more if you choose an MBA that allows you to learn the skills required to work in these fields. Don’t let high salaries fool you into thinking that an MBA degree is all you need. Salaries are influenced by other factors such as work experience, bonuses and the quality of your negotiation skills.
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