Is an MBA degree really worth it?
The MBA (Master of Business Administration) program demands serious investment in terms of time, money, and effort. However, if this journey is taken seriously, an MBA degree can be a significant boost for the future careers of participants.
Should one pursue an MBA? This question often crosses the minds of those who are either new to the workforce or have a few years of work experience.
Essentially, an MBA program focuses on building leadership skills based on business principles. Participating in an MBA provides students with a more professional network, access to job opportunities across various industries, and potentially higher salaries.
- Work experience: MBA programs often require applicants to have a certain number of years of work experience.
- Learning Format: Nowadays, participants can pursue an MBA through various formats—full-time, part-time, or online.
- Time commitment: An MBA requires a significant time commitment and effort. Before enrolling, you should consider balancing work, family, and studies.
- Industry focus: Some industries highly value an MBA more than others. In certain fields, work experience might be more crucial than a degree.
When the value of degrees goes against its nature
The value of an MBA degree diminishes when participants are solely seeking a “certificate” rather than focusing on the knowledge it offers, or when they enroll just to “reinvent” themselves due to a lack of positive progress in their current job.
If you resonate with these descriptions, it’s time to carefully reconsider pursuing this business master’s program. Firstly, try nurturing relationships around you, set new learning goals, and consider aiming for an MBA program after a certain period.
According to the National Association of Colleges and Employers, the average starting salary for MBA graduates (class of 2020) was over $20,000 higher annually (equivalent to 460 million VND) compared to those with undergraduate business degrees.
However, this figure doesn’t represent every individual enrolled in the program. Graduates from top-tier MBA programs often secure positions that rapidly propel them into leadership roles.
Có thể thấy, bằng MBA không phải là “tấm vé vàng” cho những công việc được trả lương cao ngất ngưỡng. Nhà tuyển dụng chỉ muốn “chiêu mộ” những người học MBA có đủ khả năng quản trị và kỹ năng chuyên môn để đưa ra các giải pháp cho những tình huống kinh doanh.
When the MBA degree returns its true corresponding value
The MBA degree serves as a key to gaining a competitive edge in today’s job market. Alongside this, the development of soft skills also adds value to the business master’s class, in addition to academic values.
This is most evident in interviews, where employers see the ability to resolve business situations in the workplace, something you have practiced throughout your MBA journey.
MBA programs emphasize practical learning, honing managerial skills through simulated exercises based on real business scenarios. From these, students can enhance communication skills and teamwork by engaging in collaborative projects.
A master’s degree provides an excellent platform to connect with peers, professors, and a robust network of alumni with diverse experiences from various industries. Students who put in the effort during their studies will reap the rewards in the future, academically, professionally, and in personal development.