A master’s in business administration is one of the most common master’s degrees in part because it is so recognizable. It makes a great resume item and is often listed by employers as a desired qualification for management positions. Students want it because they know those three little letters give them instant credibility. The MBA is the most common degree held by top executives of the largest companies, and it can also prepare you for advancement in a variety of industries. MBA programs usually take two years to complete, and you don’t need to have majored in business as an undergraduate to get started.
How do you know if getting an MBA is the right path for you? To help you decide, here are some of the benefits of earning an MBA:
1. Increase your earning potential.
People with MBAs often earn higher salaries than people in similar roles who haven’t gotten an MBA. In 2021, the projected median starting salary for people who graduated with an MBA was $115,000 — compared to $75,000 for direct-from-industry hires, and $65,000 for job applicants with only a bachelor’s degree.
Actual salaries vary by company and position, but earning an MBA can be an important step toward investing in your future.
2. Become qualified for new opportunities.
As with many master’s degrees, earning an MBA can qualify you to work in new roles and even in new industries. Here are some of the job opportunities that could be available to you after graduation:
- Accountant
- Consultant
- Financial analyst
- Human resources manager
- Information systems manager
- Insurance specialist
- Investment banker
- Logistics manager
- Marketing manager
- Product manager
An MBA can help you advance your career in a variety of fields. It can also prepare you to become an entrepreneur or launch your own start-up.
3. Grow your network.
When you enroll in an MBA program, you join a community of people who share your enthusiasm for learning. This can be a great time to diversify your network.
After earning an MBA at Indiana Wesleyan University, you will also gain access to the IWU Circle Community — an exclusive alumni network that allows you to continue engaging with colleagues across the United States. You can use this community to make connections and grow in your professional life.
4. Expand your skill set.
A desire to continue learning is always one of the best reasons to go back to school. Earning an MBA can prepare you for the future with new skills in leadership, communication, management, and ethics. You’ll gain practical knowledge while also improving your soft skills.
The fact that an MBA requires well-rounded skills is one of the reasons it remains a popular degree for executives. If you are weak in math, you would be better off getting an MSM. If you are weak in writing, you would be better off with a technical degree, like an IT degree. But MBAs must demonstrate both strong quantitative and qualitative skills, so employers know a person with an MBA is well prepared to handle broad management responsibilities.
Bonus: Get your MBA, your way!
Indiana Wesleyan University offers various options to make our MBA program as helpful and painless as possible. Here are some of the advantages of the MBA My Way program at IWU:
- Increased flexibility. Choose from a standard or accelerated track.
- Areas of focus. Specialize in healthcare administration, information technology management, project management, or school administration.
- Stackable pathway. The MBA program builds toward IWU’s Doctor of Business Administration (DBA) program, should you choose to continue your education.
To find out if IWU’s Master of Business Administration program is the right next step for you, consider taking our free online MBA Test Drive. When you’re done, you’ll get a certificate of completion as well as a 10% tuition discount if you enroll in the MBA program!