Change careers, broaden your job options, boost your future average annual salary, and broaden your education with a business degree.
Thinking about taking the GMAT and applying to business school? Your head is probably spinning with the possibilities of what you might study, which school you might select (and which one might select you), and the steps you will need to take to earn your business degree.
Before you get too deep into the process, however, you should ask yourself: Why business school? Is an MBA right for me? Oh, sure, you should think about this for crafting the personal statement on your business school application, but it’s also important to consider in terms of your own long-term career goals and self-reflection. Being confident in your choices and motivated in your life’s direction can help inform your path to business school success.
Forbes and the Huffington Post have pointed out lots of less-than-ideal reasons why students choose to take the GMAT and go for an MBA. These checklists are good for suggesting what you don’t want to do. It’s also important, however, to consider the scores of great reasons you should go for your MBA. If these match up with your goals, then what are you waiting for?
Here are a few good signs that suggest an MBA is right for you:
You’re ready to advance in your career—both professionally and financially
Having an MBA can help you stand out—not only from other people applying for jobs, but also from coworkers vying for promotions. Your MBA shows you can balance philosophy with practice, business theory with professional experience. It also proves your persistence, drive, focus, and passion for your line of work. What boss wouldn’t love to see that in an employee? What board wouldn’t require it in a prospective CEO?
There are multiple financial benefits to getting a degree in business, as well. Data shows that business school graduates earn more money over the course of their careers. Dr. Don Martin, a higher education admissions expert and former admissions dean at several top business schools, points out that, “For grad degree holders, the numbers are favorable: U.S. workers between the ages of 21 and 64 with a master’s degree or higher earn an average annual salary of $55,242, versus those with a bachelor’s degree whose average annual salary is $42,877, according to the United States Census Bureau. That represents nearly a 30 percent difference in average annual salary—and offers clear evidence that completing a graduate degree can make a positive impact on one’s financial situation.”
Better yet? You might even be able to get your employer to pay for your MBA!
You want opportunities to network with smart, successful people
Not only are you going to be taking classes that are taught by renowned businesspeople and professors, but you are also going to be learning from and working with your incredibly talented and driven peers. A woman in your economics class might end up being your partner at a start-up; a man in your ethics class might be able to introduce you to someone at your dream company; a group of study partners in your accounting class might end up as your R&D team.
If you are less established in your career, business schools can also hook you up with internships and summer jobs at great companies, allowing you to gain more real world experience.
You want to make a (career) change for the better
If you are looking to change jobs or careers, getting an MBA can help you make that transition. For someone feeling bored or dissatisfied with an existing career choice, an advanced degree “is a great opportunity to earn a relatively expedited education in a field that may only recently have piqued that person’s interest,” says William Sharon.
Consider the journalist who wants to be a financial analyst, the retail worker who wants to head a marketing department, the musician who wants to start his own company: all can benefit immensely from going to business school.
Or … consider you! The classes will challenge you. The knowledge will focus you. The relationships will support you. The experience will benefit you.
So, where do you fall on this list? What’s your reason for pursing a business degree? We would love to hear from you or see you in one of our GMAT classes!
The post 3 Signs a Business Degree Is Right for You appeared first on Kaplan GMAT Blog.
