Is an MBA Worth It?
As prospective MBA candidates consider earning their MBA degree, they have undoubtedly already asked themselves, “Is an MBA worth it?” From both personal and professional experience, I can attest that a graduate business degree can transform your life and be a launching pad for decades of success. It’s not only a business management degree but also a leadership degree.
Professionals often have many jobs throughout their careers, so having foundational skills that can be leveraged across industries, functions, and locations separates the MBA from other degree options. I believe the MBA will stand the test of time and always be a valuable credential in the market.
If you’re wondering if an MBA is the right fit for you and your career goals, consider the following questions:
Do I want to make a major pivot in my career?
If your answer to this question is ‘“yes,” you could benefit from an MBA. The MBA is one of the most versatile degrees available, and most top full-time programs are designed to help candidates change industry or function. This holds true for Michigan Ross, where 93% of our graduating class are career switchers. Our action-based learning approach is specially crafted to allow students to build career-specific skills and gain hands-on experience.
Do I have the leadership skills needed to achieve my career goals?
You might consider an MBA if the answer to your question is “no.” One of the unique benefits of an MBA, which other graduate degrees do not always provide, is the ability to develop leadership skills. A top MBA program will offer an environment and experiences where students can learn to manage teams, enhance their communication skills, and practice making difficult decisions.
Will my current career path allow me to reach my position and salary goals?
Again, if the answer to that question is “no,” you may want to consider an MBA. Even if you are not considering making a career change, many students take on an MBA as a career and salary accelerant. Some careers even require an MBA to advance. The Michigan Ross Full-Time MBA Class of 2023 saw an increase in median salary to $165,000, and 99% of the class received a job offer within three months of graduation. Take a look at our latest employment data to see how compensation statistics vary by industry, region, and more.
An MBA is a major investment of time and money, and the decision to pursue one should be weighed carefully. Asking yourself the right questions will help you determine if an MBA is right for you.
Be sure to reach out to student ambassadors and hear why they pursued an MBA.