Advantages of a MBA degree
Did you know that the average salary for MBA graduates is significantly higher than that of individuals with a regular university degree? In fact, you can expect to get nearly double of what you earn right now once you complete the Master of Business Administration (MBA) course. Be prepared to pay in the region of $110,000 for the main course offered by leading business universities. This cost does not include traveling, accommodation, and sustenance expenses. However, the salary you will get allows you to recover the investment within three years. You can expect a minimum starting salary of $130,000. If this is not enough, the MBA degree opens up opportunities for high profile positions such as board directors and senior managers.
• Since this course trains you to handle complex business situations, it assures sustainability of your job in the organization.
• It allows you to climb up the corporate ladder quickly, thereby enhancing your pay scale.
• This course hones your leadership and managerial skills, providing you with an advantage over others.
• It gives you the confidence required to come out of your comfort zone so that you can challenge and push yourself in order to improve on a continuous basis.
• Allows you to network and interact with professionals having on field experience, thereby, increasing your chances to landing up with your dream job.
Pros and cons of MBA programs
• Opens up avenues for good paying jobs
• Allows you to move up the corporate ladder rapidly
• Gives you an opportunity to establish lasting relationship with like minded professionals from all over the world
• Allows you to switch from industries as lucrative and as diverse as consultancy and financial
• A MBA degree gives you the competitive edge while hunting for jobs. Recruiters know that holders of this degree are ambitious and disciplined.
• It teaches you to pinpoint and solve real live problems based on experience of other businesses
• Gain knowledge of language and culture of a different country (if you plan to pursue the MBA course overseas)
• Tuition fees are very expensive
• Time taken to complete a full time course is approximately two years
• Loss of earning while undergoing the course (you can compensate for this by opting for a part time course, but this option increases the duration of the course)
• Learning a new language if you plan to pursue this course overseas
Considering the above factors, the pros outweigh the cons by a huge margin.
Scholarship and grant opportunities
Workers in leading corporate houses should face no problems in getting sponsorships from their employers as long as they are dedicated to their current post and display leadership skills. Meritorious students can avail of scholarships offered by business schools. You can find more information about this by checking its website.
Some of the best MBA programs include:
• Information systems
• Executive MBA
• Logistics (supply chain)
• Production and operations