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Posted June 12, 2017
How can an MBA help my career?
An MBA (Masters of Business Administration) can help you move forwards in your career, change track or even get it started in the first place.
Here are a few ways in which an MBA can help.
Networking Opportunities
The chance to meet with some of the best academics in the world at a top rated institution is just one of the excellent networking opportunities you will find on an MBA course. Your fellow students will become not just your friends but prospective colleagues and business partners who will help you in the future. Finally, MBA courses attract world leaders in all sorts of business sectors who come to speak and give back to their old school. The chance to meet them and discuss your future is an incomparable opportunity.
Transferable Skills
There are plenty of transferable skills that you will learn while studying an MBA that are applicable to many careers. You will learn how to work in a team and in particular, a team where everyone is a future leader. Critical time management skills and working to deadlines are vital skills for future success in any career. The chance to hone your interpersonal and communication skills with regular opportunities for public speaking should remove any anxiety you have over it. Understanding risk management and the analytical skills that go with it are useful in all sorts of careers. Getting the chance to learn to use business and accounting software will make you a useful addition to many different types of teams in various industries. Finally, getting the chance to study in another country will give the invaluable experience of another culture that international companies really value.
Opportunity to Specialise
The chance to focus your studies in one career is the best way to ensure your future success. By spending time learning and understanding one industry inside out you will be able to focus on what really interests you. If you are planning on moving into business or financial consultancy, then an MBA will prove that you have the skills and knowledge to advise others.
Proven Higher Salary
It is no shock to hear that graduates with an MBA have a higher salary than those without, as a large percentage of MBA graduates enter the financial services sector where you can expect salaries to be higher on average.
Average Annual Earnings For Graduates With MBAs
UK earnings of MBAs accredited by the Association of MBAs: £90,000 including bonuses
USA earnings of graduates of Top 100 Business Schools: $142,000 including bonuses
Develop Managerial and Entrepreneurial Skills
A vital part of an MBA is learning how to effectively manage a team of people as it's a skill that many untrained managers are lacking. You'll also learn about all the moving parts of a company such as sales and marketing products, hiring an effective team, collecting and understanding industry data, maintaining your companies financial health, creating effective hierarchies in a company, ensuring your company maintains a positive public image and knowing when to make the difficult decisions. These are all vital when working for a company or using those entrepreneurial skills you will learn to set up on your own.
Funding Your MBA Program
MBA programs are a great way to get ahead in the business and managerial world. Postgraduate studies can be expensive and the tuition fees of an MBA can be off putting, however you need to think about the costs associated with studying your MBA as an investment in your future. If you need some help paying for your tuition fees, Prodigy Finance offers tailor-made funding specifically for MBA students. Find out more about Prodigy Finance here.
Please note that the information here does not constitute financial advice. Prodigy Finance is one of many potential funding options for international postgraduate students. Other student funding options are available and Postgrad.com advises you to research all your options thoroughly before making such a commitment. Postgrad.com accepts no responsibility for your choice of loan and does not endorse or support Prodigy Finance. Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713.
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