The idea of getting an MBA to some people is just something that they would never comprehend, especially entrepreneurs – whilst to some it’s their sole aim through all of education, to others it’s a pipe dream they would never have even considered. However, it can be used by anyone from a professional who wants to try and enhance their career prospects to somebody who wants to try and improve their ability to think in a deep, strategic manner.
In effect, the skills required for an MBA can be transferred across any industry.
The infographic below, What is the Value of an MBA, should help you understand key things such as;
- What programs are open to you
- The benefits of receiving an MBA
- What the future may hold
- The power of online MBA examinations
Whether you know you want an MBA or have just found out what it is, this is the perfect chance to learn about the vast learning potential that is out there waiting for you.
What is the Value of an MBA? Infographic Summary
Due to the fact that an MBA is such a widespread thing, many might not even consider going for one; however, with the help of the key facts in this infographic you might be able to see that they can assist with things such as;
- Getting the education in the first place – the majority of MBA courses can be taken part-time full-time, on an executive basis and even online
- It can help to increase core management and administration skills such as your networking capabilities – and networking potential – as well as your overall leadership capabilities. Add in the increased business knowledge and the chance of getting promoted or a salary increase becomes much higher
- Salaries for those who have received MBAs has grown as much as 10% in the last decade; in the current financial climate, this is very impressive
- Salary increases can start at 46% and go as high as 120% depending on your MBA style and your previous work history and portfolio
- The main industries for MBAs tend to be consulting, investment and recruitment firms. They also seem to pay the highest wages with $90-200,000 being the norm for an investment bank
- In 2014, MBAs were found to have received employment on a 16% more regular basis than those without
- The benefits of taking an MBA can give you access to life changing salaries, without any of the massive costs that can leave you burdened for years to come. Instead, it can take around 4 years to pay back an MBA
- Graduates were recouping as much as 1/3 of the money they invested into the MBA within a single year of employment, and 100% within four years. Within a decade, they had doubled their investment cost
- Everything scored more than 80% on a GMAC-led survey build around things like degree value, job satisfaction, value in finding employment, if the programs come recommended and if it instills a sense of pride within the person
- 3 out of 4 people declared they would be unable to get the same job they hold now without the MBA according to GMAC data collected in 2013
- Online programs are beginning to become one of the most cost-effective ways to attain an MBA as well as allowing for employment to continue, and cutting out a large cost thanks to a lack of requirement to commute whilst you learn
As you can see, the value of having an MBA far outweighs the negatives of taking one on. With the right drive and ability, you can pay back the tuition fees fairly easily and leave yourself with an opportunity to start making a serious change in life in terms of your financial freedom and comfort. As the What is the Value of an MBA? Infographic shows, there is huge value in taking on the task of an MBA.
Infographic credit: oBizMedia