10 Very Good Reasons to Do an MBA Degree

Deciding to study an MBA degree (Master of Business Administration) is a big step for aspiring managers. Is pursuing an MBA program at a business school abroad a good choice? Are the financial investment and the entry requirements justified? All in all, is an MBA degree worth it?

If you're preparing to enter the competitive business world of today, we believe it is.

So, what can you do with an MBA? An MBA will offer you a wealth of advantages, especially when it's from a well-regarded business school. Getting a high MBA salary after graduation, landing a management position, developing a strong professional network, or even becoming your own boss are just a few of the advantages of studying an MBA degree abroad.

Here are the top reasons to start studying a Business Administration degree:

1. Develop advanced and flexible management skills

MBA applicants are usually young businesspeople with a minimum of two years of professional experience. Even senior employees who feel up to the challenge may sometimes apply.

MBA classes will help you develop the skills necessary to keep a company successful. The curriculum of each Master of Business Administration degree can be different, but these are some of the most common competences you’ll develop depending on the study programme you choose:

Studying an MBA degree forces you to get out of the comfort zone. You'll explore the latest International Business trends, apply the newest management tools and techniques, and challenge yourself to improve your business, teams, and collaboration.

An MBA is also a great way to prepare for a changing business environment. The abilities you develop are also the best tools you have to adapt to the unavoidable change of industries, the marketplace, and the ways people do business.

If you plan to change careers, but the industry evolves in a way that messes with your plans, the skills you’ve developed will help you quickly adapt and find a new direction. You’ll also be able to make use of changes in economy and find new business opportunities where others simply try to survive a harsh business environment.

2. A lot of MBA specializations to fit your exact goals

Many colleges and business schools have developed a varied range of MBA programmes, specialising in various parts of the business world, as a result of their international appeal. So, what MBA specialisations are available? What is the distinction between the two? What MBA subjects are the most in demand?

Keep in mind that there are also a lot of MBAs providing dual specialisations, further upgrading your management capabilities and job-market versatility.

Here are a few universities and business schools that offer diverse types of MBAs:

3. Access to an extensive business network

As an MBA student, you have great networking opportunities. You’ll interact with fellow students, professors and teaching staff (businesspeople with great management experience). And this context will expand your business management capabilities.

Finally, you gain access to the extensive alumni network of that particular MBA programme. Your connections will give you a great overview of the business world. Be ready for a deep understanding of the slightest changes in the business environment and discover new ways to adapt fast. You can reflect on some big business issues and make connections between various global events and world affairs.

4. MBA salaries are some of the highest on the job market

Among the benefits of an MBA degree, job security and high salary are some of the most important. The average income for an MBA graduate is much higher than an employee's with a regular Master's. You can expect to earn twice as much as what you would get from a regular university degree.

If you’re wondering what you can do with an MBA degree or what MBA jobs are available, here are some popular career choices: business operations manager, management analyst, market research analyst, top executive, HR manager, etc.

Average salaries for MBA graduates

According to the QS Jobs & Salary Report, these are some of the average MBA annual salaries in the world:

In two or three years, you cover the investment made with your MBA education.

Average MBA tuition fees

An MBA programme represents a considerable financial investment. To give you an idea about how much you might have to pay, we’ve listed the average tuition costs in popular study destinations offering MBAs.

Keep in mind that you can find more affordable MBA degrees (under 10,000 EUR/academic year) in these countries. At the same time, top business schools can demand higher tuition than these average amounts. Some offer MBA programmes for 60,000 EUR/year with the most expensive going over 100,000 EUR/year.

Which countries have the most affordable MBAs?

By default, MBA programmes don’t come cheap. Still, you don’t have to break the bank if you want to advance your business career. You can find very affordable or even free Masters of Business Administration in the countries listed below.

Our list is not exhaustive. You can find affordable MBA degrees in top study destinations, like the US or UK. To do this, use the filters on our website, Mastersportal.com, and select the tuition fee you’re willing to pay.

Which MBAs lead to the highest salaries?

All MBAs lead to high salaries, but some industries pay better than others. According to the U.S. News, these are the top 5 industries where MBA graduates earn the most:

If you want to make more money, get an MBA that will help you build the abilities you need to work in one of these fields. However, don't be fooled by high salaries into thinking that an MBA degree is all you need. Many additional factors, such as job experience, bonuses, and how well you negotiate your contract, influence your salary.

5. Start your own company from scratch

Many students choose an MBA because they want to become entrepreneurs and learn how to start and grow a business. They have a big dream and want to know how to turn it into reality. Here’s why an MBA can help you become a successful entrepreneur:

MBA professors with real-life experience in starting a business can tell you the major traps you need to avoid and what you should do to make sure your company grows and remains stable over time.

You can find MBA colleagues who have similar interests. Share your ideas with them and see if you can form a common vision. It’s easier to succeed with your start-up if you have a reliable partner who has your back and vice versa.

You’ll learn how to communicate effectively and why it is essential for the success of any organisation. Whether you’re negotiating a contract with the suppliers or explaining your vision to prospective investors, knowing how to express your ideas clearly can make the difference between winning or losing the support and attention of your audience.

Don’t believe you’re the only one who wants to become an entrepreneur. Many MBA graduates end up starting their own business. According to the GMAC research team, “B-school alumni entrepreneurs most often found their own companies (85 percent), and combined, over half establish businesses within the consulting (36 percent) or products/services industry (26 percent).”

6. MBAs are great for a career change and thriving business opportunities

Many students take MBAs to either change the industry they’re working in or advance to a managerial or administrative position. You shouldn’t do both at once, as it’s possible to spread too thin – not having the work experience in the new position to back it up. Approximately 1 in 3 prospective MBA students use their management education to pursue opportunities in new industries or job functions they have not worked in.

Before applying to the MBA programme, you should decide on the industry and position you want to pursue. This will make it easy for you to choose the finest MBA programme for your needs and to have clear future goals that will be important during your application interview. You'll also have two years to perfect the abilities you'll need for the new career.

The versatility and diversity of MBA programme specialisations are great support for those preparing for a career switch.

Graduates of part-time or full-time MBA programs have higher chances of holding a high-level management position and enjoying successful MBA careers. Over 50% of MBA graduates worldwide are senior managers or board directors. This type of positions brings a higher salary, but also greater responsibilities.

Here are some of the largest companies in the world that hire MBA graduates:

7. Study excellent MBAs all over the world

By earning an MBA degree abroad, you will gain a new perspective on how businesses are handled and get to live in a foreign country during your studies. This will broaden your cultural horizon and your international business career prospects. You can find companies that you want to work for and arrange meetings with potential employers. Who knows, you might end up staying and working in that country after graduation.

When considering which countries are best for studying an MBA, you should search for the nations offering the best MBAs and the best specialisations according to your needs. It’s also important to keep in mind the initial investment like tuition fees, living costs and which employers are more likely to hire you after graduation.

8. MBAs are challenging but not difficult to graduate

Many potential students ask if an MBA is too difficult for an average student. The easy answer is “most likely not”. But, as you’ll probably learn during your MBA, your attitude makes up over 50% of your professional success, anyway. So, it’s also possible you’re not asking the right question. Rather than asking if an MBA is too complicated, you can try to develop new ways of looking at the things you consider difficult and take them as challenges or problems to overcome. That’s how a professional business person would look at it.

In summary, an MBA is only as challenging as you make it, and only as rewarding as you make it. There is rarely any hand-holding in the corporate sector. Either you develop into a capable business specialist or the competition surpasses you.

Here are a few class examples that are usually included as part of the curriculum of an MBA degree. These may offer you an insight into how difficult you might find the learning experience for an MBA:

Most international MBA degree are English-taught. Make sure you demonstrate your language proficiency by taking an English test:

9. You can study an MBA part-time or online

The main benefit of studying an online MBA degree is obviously convenience. You might be busy with your work, or you are simply involved in other activities which are important to you. This doesn’t mean you cannot expand your knowledge about business and management. Online MBA programmes are very flexible. You can study at your own pace and access lectures and course materials whenever you want.

Online MBA courses are also accredited. We’re living in a world where studying online receives the same recognition as on-campus education. Just check the accreditation of your MBA degree or university before enrolling, to make sure you don’t run into a scam. Spotting the difference between a genuine Business degree and a fake one shouldn’t be too hard once you do your research.

Online MBA tuition fees are lower. Another advantage of studying online is that you’ll only have to pay the tuition costs. Moving abroad would involve other expenses like accommodation, transport, and visa expenses (might not be the case; it depends on your nationality).

If you want to develop your business knowledge but don’t have a lot of time, you can choose a part-time MBA programme, next to your job. Studying a part-time MBA will increase your study duration from 2 to 3 years, sometimes even 4 years, depending on the type of MBA you choose. But a part-time MBA gives you the space to keep earning while studying and not having to put your personal life on hold while taking an MBA. Part-time MBAs may offer weekend classes or may have flexible hours, so you can fine-tune your studies to fit your schedule.

10. MBA degrees accept older students

Is age 30 too old for taking an MBA? What about age 40? As a reference, you should know that the average age of incoming students at Harvard is 27, but more than 10% had 7 or more years of experience. Columbia and UCLA Anderson both welcomed students in their 40s. In Europe, schools such as LBS, INSEAD, HEC Paris and Cambridge Judge have an average age of 29.

The good news is that business schools do not consider age as an essential factor in the admission process. An important criterion is the full-time job experience, and older students have plenty of that because they’ve been on the job market for longer. The main reason why there aren't more MBA students in their 30s and 40s isn't because universities have age restrictions, but because there aren't many of them applying.

It should be clear to you what your goals are for taking an MBA degree, as you should convince the admission committee that you are motivated to study the MBA and you have a long-term plan in which you believe. Also, if you have good GMAT scores, there should be no problem with the fact that you’re older than the average MBA student.