Should I Get An MBA? How To Determine If It’s Right For You

Feb 19, 2024 - 23:47 Updated: Feb 20, 2024 - 13:08

Should I Get An MBA? How To Determine If It’s Right For You

Earning a Master's in Business Administration (MBA) can help professionals enhance their career opportunities, increase compensation, and lead to job promotions. An MBA can provide the skills and knowledge necessary to start a new business, and many employers require an MBA for certain management or leadership positions.

KEY TAKEAWAYS

A Masters in Business Administration (MBA) is a graduate degree focused on management, business, finance, and entrepreneurship.
MBAs often come with pricey tuition and can be a substantial expense, especially for more recent college graduates.
Most MBA graduates confirm that the degree is worth it, leading to better quality jobs and better-paid jobs.
When deciding on an MBA program, it helps to look at the return on investment (ROI); the salary obtained from a job once graduating compared to the cost of the program.
However, given the cost and time commitment, consider alternatives.

Pros

Graduating with an MBA can earn you a higher salary.
You will have a leg up on your competition if you earn your MBA from a top-tier school.
An MBA gives you the skills and knowledge you need to advance in your field.

Cons

Having an MBA does not necessarily make you an ideal hire.
Going to an online or unknown school will not get you noticed.
An MBA is not worth it if you don't intend to work in a business or management-related field.