3 Ways To Benefit From an MBA Program

In today’s recession-centric mindset, people are asking if taking an MBA program is still all it holds out to be. Though it promises much reward, the sacrifice and effort needed to finish it is significant enough to make one think twice. For example, should one take time off from work now – a source of steady income – just to pursue an MBA degree? Including the debts that may be incurred to finance one’s study, the monetary costs of an MBA degree is nothing to sneeze at. Even if one should choose to study part-time, there are other non-financial costs that one should take into consideration.

Fortunately, there are three ways to look into the benefits of an MBA degree. These do not serve to counter the arguments against taking an MBA but to provide additional perspective to those are more or less decided on taking up further study.

You benefit from an MBA program because a degree still holds clout. Continuing education is still better than experience, at least as top-tier companies would decide. According to a study by Stanford Business School, the median salary of MBA degree-holders is still in the 6-figure range and is continuing to rise. Headhunters of top corporations still prefer MBA graduates from those who just have the experience. Though people might say that an MBA degree is not as important as it was compared to decades ago, it still is one of enduring requirements (or at least of the advantages) to succeed in one’s career.

You benefit from an MBA program because of case study exposures. Learning under an MBA program is not necessarily done only through coursework. The brunt of an MBA is with the case studies that students are assigned to do with respective groups. Most MBA programs run through the foundational courses in the first year then move on to more experiential and constructive case study courses after. These case studies are not meant to be exclusive examples of practical problems but would serve as the starting points for further education. As it is, knowledge of the most probable problems that one might encounter in the real-world setting provides significant advantages should they experience it first-hand. Yes, the education definitely is expensive, but the experience and interaction makes all worth it.

You benefit from an MBA program because the people you meet are as important as the courses. Students who take up an MBA come from different professions and from different walks of life, necessarily contributing varying perspectives to the courses. This is where the strength of the case studies lie – the interaction between students of different experiences would open up a multitude of approaches to the group. A student with an education background would most certainly have a different take on a case study from a student who came from the finance industry, and this distinction could very well open up new ways of thinking for both students. It’s the co-creation of ideas that makes the MBA exciting, and could very well make it all worth the while. One should also note that one’s classmates in the MBA program will also be enduring contacts once they finish the degree – a significant advantage once they get back to work.

Investing in an MBA program will always have its risks. Though we wish that the value of one’s efforts should always equal the actual rewards, it is this uncertainty that we need to live with. These may ease one’s mind somewhat, for they give some benefits and may well prove the MBA as still worth the investment

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