Breaking Down the Top 10 Myths About Studying Abroad
An MBA, or Master of Business Administration, is a highly sought-after graduate-level degree in the business community. It can help individuals advance in their current position, increase their earning potential, stand out from other job candidates, and expand their knowledge and skills. In today’s global and technology-dependent society, companies and organizations of all sizes and in nearly every industry need qualified individuals to lead and grow their business. An MBA prepares future leaders for the next step in their careers, whether that’s advancing to a higher level or transitioning to a new field.
The demand for MBAs is on the rise, with many employers requiring this credential, especially for top leadership positions. According to a 2018 year-end employer poll from the Graduate Management Admission Council (GMAC), 78% of respondents planned to hire recent MBA graduates. More than half of the companies indicated they planned to increase MBA starting salaries in 2019. An MBA can lead to positions in a variety of industries, with finance and accounting being two common areas in which graduates begin their careers with skill sets that are in great demand.
Some of the industries well-known for hiring MBAs:
- Health care.
- Consumer products/services.
MBA graduates are in demand not only in big business but also in the tech industry. The aforementioned GMAC survey also broke down the hiring rate by industry and discovered that the tech world is set to recruit MBAs at a higher rate (89%) than financial and accounting firms (76%). These statistics indicate that opportunities for qualified MBA graduates are becoming more plentiful, and in more fields, and that employers are willing to compensate well.
The length of an MBA program can vary depending on a school’s graduation requirements, academic calendar, class delivery format, and other factors. MBA programs can range from a few months to a couple of years. For example, at National University, MBA students take a new class every four weeks, year-round, and can complete the program in about 18 months.
An MBA can be a worthwhile investment for those committed to career development and personal growth. It is designed for all individuals looking to advance in a business environment. So, before embarking on an MBA program, it's important to set clear goals and find a program that suits your personal career goals and is flexible enough to fit your schedule. Whether you are seeking your first job, early in your career, or established in the field and looking to expand your responsibilities or move up in your organization, an MBA can help you achieve your goals.