Should or should not pursue an MBA degree?
The significant demands on time, mental energy, and finances during the process of pursuing an MBA degree require participants to carefully consider the benefits before engaging in an MBA program. Let’s explore the various aspects of the Master’s program together with PSO MBA through the following article.
The MBA program includes what?
- Creating and analyzing financial statements
- Developing marketing strategies based on research and performance indicators
- Understanding supply chain management and streamlining processes
- Collecting, processing, and analyzing data for business decisions
Leadership and Management Skills
- Emotional intelligence: Understanding and managing personal emotions as well as recognizing and influencing the emotions of others.
- Communication: Clearly conveying your vision, common goals, and actions to unite others in a team.
- Empowerment: Empowering your employees to leverage their strengths and perform at their best.
Strategic Thinking Skills
Another skill imparted during the Master’s program is strategic thinking. Building a business strategy requires understanding pricing structures, market trends, and macroeconomics. A holistic view is essential for constructing, validating, and successfully implementing a strategy.
Integrative Problem-Solving Skills
In the PSO MBA program, topics and assignments are closely linked to real-life business situations, helping students easily grasp and visualize the business landscape in the real world and how businesses overcome such situations based on a unified strategy from various departments.
It involves evaluating perspectives from stakeholders when solving problems. When engaging in Master’s classes, students learn not just from professors but also from their peers about the practical aspects of running a business.
Moreover, the MBA Talk series, featuring experts from various fields, provides opportunities for students to discuss practical business issues with experts to deeply understand problem-solving in line with the program’s training philosophy of PSO (Problem Solving in Organization).
What should you prepare before starting an MBA program?
Preparation beforehand will help you get ready for the Master’s journey ahead. Here are some suggestions from PSO MBA:
Get familiar with economic terms
Understanding the terminology related to real-life business cases taught in the curriculum will make it easier for you to grasp and engage in discussions. Additionally, you can use these terms to articulate and defend your own opinions during discussions.
Proactively connect with current and former students
Learning from those who’ve gone before – individuals who have experienced the learning environment at the place you’re about to join – will offer you more realistic perspectives about the program. Moreover, you can reach out and connect with those who have enrolled in the program to understand their expectations and goals better.
Prepare the application dossier
Application requirements vary depending on the institution and program. Here are some fundamental requirements for postgraduate programs:
- Resume (educational background, work experience)
- Undergraduate transcripts
- Personal essay
- Letter of recommendation
Notable benefits of pursuing a Master’s degree
Holding an MBA expands individual job prospects. It not only equips you with skills eligible for new roles and responsibilities but also sets you apart from other candidates.
In a GMAC survey, 92% of corporate recruiters expressed an expectation to hire MBA graduates, rising to 95% among recruiting companies. Additionally, 87% of recruiters expressed confidence in the abilities of individuals who completed an MBA program within their organization.
According to the Bureau of Labor Statistics, the average salary for MBA graduates in 2021 was $81,848. This figure is 30-40% higher for candidates with similar years of experience but holding only a Bachelor’s degree. Owning an MBA visibly boosts income for participants.
Global empathy and mindset
Pursuing an MBA can foster global empathy and mindset. Specifically, an MBA equips you with the thinking needed to become an empathetic leader and successfully build and bond with your team. These skills are not only valuable for team management but also for thinking in terms of international business.
The appropriate time to start an MBA program varies based on individual goals and resources. For the best start, assess the resources you can allocate to the program and commit to them. Furthermore, maintain a learning spirit and share experiences with other students in the class for a fulfilling MBA journey.