The Real ROI of an MBA: 5 Valuable Benefits to an MBA That Get Overlooked
When thinking about pursuing higher education we often think almost exclusively about the potential for increased pay and notoriety that comes from having a Master of Business Administration (MBA). With so many options for both education and careers in just as many fields, it is important that a degree provides a greater return on investment than simply money – and an MBA does just that. Beyond salaries and jobs, furthering your education through an MBA creates space for professional and leadership development that expand your potential in the job market and the world. The only thing better than this would be getting your MBA online, like the MBA program offered through Marylhurst University.
Expand Your Worldview
There are several ways to obtain your MBA degree. You might go the traditional in-person route, either full time or part time, or you might decide to pursue your degree online. The online environment opens the “traditional” classroom to MBA students from all over the world. Because students are not place bound by their geographic location, they engage in new ideas and diverse points of views more so than in a traditional, in-person classroom. From finance, accounting, and general business to the ethics of global and local practices, an MBA delivered online further develops a global perspective through which to understand business.
The development of an expanded worldview through other students, professors, and materials set graduates and professionals on a trajectory for more meaningful and impactful work. With the rise of millennial social entrepreneurship, it is almost non-negotiable not to have a more expansive worldview and global perspective to create sustainable change and success in business.
In addition to the expanded worldview developed in an MBA program, there are significant opportunities to network now and for the future. With many well connected and educated professors teaching courses, their expertise and networks are now much closer and more available to you. Those having had excellent experiences within a program are more likely to think favorably of those who have gone through the same and thus expanding to hiring likelihood of potential employers.
In addition to already successful and seasoned business people, international students make up a significant portion of students in MBA programs. Their global perspectives and networks create space for expanded opportunities, further learning, and space to create friendships, partnerships, and networks around the world. Additionally, MBA programs produce strong alumni networks that serve as resources and tools for graduates and professionals alike.
Your personal brand follows you wherever you go. Knowing your passions, what drives you, and the kind of change you want to see not only motivates your work on a day to day basis, but sets you up to have vision, focus and direction that is common of executives, leaders, and industry innovators. Credentials are one thing, self awareness, vision, and the ability to execute complicated ideas for change not only set you up for success in business but in every other arena of your life.
Diversity of Career Options
Most fields silo graduates into a small number of positions, many of which are entry level and low paying; this is not so with an MBA. An MBA degree provides a diversity of experiences and perspectives that effectively set professionals up to experience a return on investment not only in their paycheck, but in the diversity of roles in a spectrum of fields that they can hold. This diversity also creates security of positions and more space to try out various positions that might interest you.
Leadership Opportunities and Experience
An MBA program gives you the skills to set yourself apart as a leader in the professional world. An online MBA offers an additional skill that is becoming more and more valuable in a technology-driven world – the ability to manage collaboration across regions and time zones. Through experience researching, consolidating, and presenting both simple and complex local and global concepts, an MBA allows graduates to use their class time and projects to develop the skills of executive level leaders – like how to lead a diverse team located across multiple states or even nations. Vision casting, communicating, and analyzing change and dynamics in a company are highly sought after to create more efficient and profitable industries. The uniqueness of these skills in the industry coupled with the experiences gained in class, through internships and networks can catapult graduates into higher level positions with higher influence and potential for change.
- U.S. Department of Education, Office of Planning, Evaluation, and Policy Development, Evaluation of Evidence-Based Practices in Online Learning: A Meta-Analysis and Review of Online Learning Studies, Washington, D.C., 2010.