The master’s degree in business administration is the most popular graduate degree which many professionals earn to enhance their chances for promotion and salary increases. While it is possible to move up the corporate ladder without the MBA, there are some careers and companies that will practically mandate an MBA if you want to advance very far. Some areas where this holds particularly true is in finance, banking and consulting.
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Earning your MBA will not guarantee a promotion or higher salary, but it will definitely enhance your chances. Earning this graduate degree also is advisable if you are changing careers, you want to become a leader in your organization, or just generally want to advance your business career.
Online MBA Programs which can be done without GMAT. GMAT scores can get in the way of getting admitted in a top notch MBA school but online MBA institutes can take in students with below average MBA scores.
Earning your MBA is often a good idea, but it can be a particularly good idea in a challenging economic period, such as we have seen in the past few years. Earning your business graduate degree can present you with many excellent advantages over the long term that you should really consider:
- You may advance your career: Explore various career areas and options by specializing in a certain area, such as finance or supply chain management, to boost your promotion opportunities.
- Earn more. GMAC reports that most MBA holders earn a 100% return on their investment within four years, in terms of salary increases.
- Get your employer to pay: Many employers will now pay for some or all of your MBA training, if it is approved by management.
- Become a leader: You will learn all about becoming a leader, and you could learn how to become a leader in an emerging field, such as information technology or brand management.
- Gain networking opportunities: You will be exposed to many excellent business professionals, and those networking opportunities can be golden.
- More job security: MBA graduates are in demand in most job markets, and having that degree can make you more valuable to most employers.
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Find Work After They Graduate?
Here is some excellent news for prospective MBA graduates: The Graduate Management Admission Council stated recently that 92% of 2012 graduates had a job within three months of graduation. And 77% of those professionals stated that their salary met or exceeded expectations.
According to US News and World Report, these are some of the hottest MBA jobs for 2013:
- Marketing Manager: Work with sales and arts departments and PR teams to better understand product demand and to grasp selling and pricing strategies.
- Management Analyst: This is a field where you will do a lot of consulting, and you will do a great deal of work to understanding how to improve the structure of an organization and to boost profitability.
- HR Specialist: Use your master’s degree to boost employee productivity and to really improve the success of an organization by improving employee hiring.
- Financial adviser: While you do not have to have an MBA to enter this field, you will find that having one can improve your ability to switch into management.
- Financial manager: Financial managers have strong business and communication skills and are good at making tough business decisions. An MBA can really help you stand out here.
- IT Manager: This field requires strong analytical and leadership skills, which a good MBA graduate should possess in spades.
When it comes to salary, earning your MBA will earn you an average salary of $77,000,. according to Indeed.com. Many MBA professions will earn a good deal higher than this, as you can see in the related jobs below.