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Pursuing an MBA is a significant investment of time, money, and energy. Continuing education requires sacrifice, and the level of commitment needed leaves many prospective students wondering: Should I get my MBA at all? You’re the only one who can determine if an MBA is worth it for you. To help you sort it out, here are some more specific questions you can ask to help you determine why an MBA might be the right answer for you.
57% of MBA students report the desire to learn more as their No. 1 reason why an MBA appeals to them. There is no doubt about it, business school can be challenging, but it’s also intellectually exciting, dynamic way to grow your skill-set and knowledge. If a thirst for learning drives you and if you respond well to an academic setting, you’ll make an exceptional candidate for an MBA program.
If the answer to this question is “I’m not sure” or “Yes, but I don’t know how to get there,” then you might contemplate heading back to school. The broader question of “Should I get my MBA?” isn’t just about whether you could use different skills or knowledge; it’s also about your particular direction and goals. Earning your MBA is an excellent investment for people who feel like they’ve hit the ceiling of their career opportunities at their current job or have maxed out their earning potential. If you’re feeling stuck, an MBA is an excellent way to leverage your skills and experience to move into a leadership position.
Whether it’s starting your own business, changing industries, or rising in the ranks at your current job, getting your MBA will be a catalyst for change in your career and your life. Your studies will change your perspective, sharpen your skills and illuminate corners of the business world that you have yet to explore. If that makes you nervous, consider that 93 percent of MBA graduates say they’d go back and do it again, knowing what they know now.
One often cited the benefit of pursuing your MBA is how it will grow your network. Through classwork, group projects, and peer feedback, you’ll form relationships with a new group of professionals with various backgrounds, interests, and experiences. Not only that, but you can count on your MBA to enhance your credibility. If your network isn’t helping you in your pursuit of new goals, perhaps it’s time to move on and grow.
It’s no secret: A more substantial salary is one of the essential factors that can make an MBA worth it. In 2018, many MBA graduates fielded salary offers in the low six-figures. Even if you don’t have a concentration in a high-paying field (like finance), MBA graduates can still expect to earn starting salaries that are on average 47% larger than those that only hold business bachelor’s degrees. While increased earning power isn’t the only reason to apply for business school, it helps to justify the sacrifices you’ll have to make to earn your diploma.
There is one more important consideration that goes a long way to answering the question, “Should I get my MBA?”: timing. Is now the right time for you? Do you feel able to dedicate yourself to a new chapter in your career? Can you afford it right now?
Though there’s never going to be a perfect time to go back to school, an affordable, flexible program can help make today the ideal time for you. Find an online MBA program that offers you the freedom to choose when to complete your coursework, and you can be sure you’ll have the support you need to succeed at every step along the way.
To help you get started – we have compiled a list of some of the top online programs. Earn while you learn and gain the education you need to back your experience and advance your career.