Sponsored by the University of Derby
Contrary to popular opinion, MBAs aren’t a career quick-fix. If you’re looking for that magic wand that will make you rich with a sleight of hand or turn you into Michael Bloomberg or Elon Musk overnight, then you might want to reconsider your strategy…
But remember, slow and steady wins the race, and getting an MBA is probably the most effective way to advance your career over time and maximize your earning potential. MBA programs are first and foremost an investment from which you should expect to reap the benefits throughout your career – not just the immediate future.
So, read on if you’re interested in four ways doing an MBA will actually change your life.
1. You’ll gain credibility.
In an interview for TopMBA.com, Malana White, national director of campus recruiting at KPMG, said: “KPMG understands and recognizes the importance of MBAs to our firm and to our clients.” Indeed, having an MBA signals to business leaders, clients and recruiters that you are competent in your field and possess that much-prized MBA personality toolbox. So, whether it’s when applying for jobs and promotions or briefing colleagues and clients about your projects, having an MBA will add weight to your perspective and boost your chances of career advancement.
2. You’ll get to know influencers on a first-name basis.
Forge partnerships with high-level managers and your future employers during your studies. Once you’ve enrolled on a MBA program, you’ll automatically be signed up to your department’s alumni network and be given many opportunities to meet influencers across industries, as well as students in your faculty who will become the leaders of tomorrow.
Find out about vacancies before they are advertised. Imagine you’re interested in working for a specific company, and are on the University of Derby’s MBA Global program. You could reach out to MBA Global program alumni currently working at your dream organization and get alerted about job opportunities before your competitors, plus gain insider tips to smash your interview through your university’s careers service!
3. You’ll polish up those essential soft skills.
MBA graduates tend to enjoy a very specific set of ‘soft’ skills, including interpersonal skills, leadership and corporate responsibility. Thanks to their soft skills, MBAs with a few years of working experience behind them continue to outshine their competitors during job interviews. With more to bring to the table than their technical expertise and academic achievements, MBA graduates get snapped by employers, who are very much aware that leadership is part of the MBA value proposition.
4. You’ll enjoy fatter paychecks throughout your career.
MBA salary levels and bonuses continue to grow, particularly in the regions of Latin America, Eastern Europe, Middle East and Africa, where these grew by 48%, 16% and 10% respectively in 2015/16, according to the latest TopMBA.com Jobs & Salary Trends Report. Worldwide, the report shows a rise in new opportunities on offer for candidates with MBAs, especially in the US and Canada, where demand surged by 26%!
To give you an idea of by how much an MBA could you increase your paycheck, average 2015 salaries for MBAs, including bonuses, were US$123,400 in the US and Canada, $111,100 in Western Europe, $62,300 in Eastern Europe, $95,200 in the Asia-Pacific region, $54,500 in Latin America and $81,100 in the Middle East and Africa.
Obviously this may not be your income in your next job straight out of business school, but it could be in a few years…
Sound like a good investment?