5 Reasons To Get An MBA
An MBA or EMBA can open many doors and offer countless avenues for career development. Do you want to achieve financial success? How about a career switch? Or a boost to your current career path? An MBA/EMBA can help you do all of these things and countless more.
There are many MBA programs available in the UK and around the world. An MBA is a globally accredited program, so you’ll have the opportunity to learn from and network with people from all over the world. This can be invaluable if you’re interested in working in a global business environment.
1. Grow your professional network
Networking is one of the most important aspects of an MBA program. It can be more valuable than the taught skills and knowledge. When choosing an MBA program, it is important to consider the available networking opportunities. Business schools strongly encourage their students to attend networking events throughout the year and after graduation.
2. Career growth and MBA skill specialisation
MBA/EMBA graduates have diverse job opportunities, typically in consulting, finance, and technology. However, many graduates are branding out and starting their own businesses as entrepreneurship training is offered in general and specialised MBA programs.
Some of the specialised industries you may want to focus on include:
- Consulting: Graduates can work as consultants for companies to provide advice and solutions to business problems.
- Entrepreneurship: Graduates can use their skills and knowledge to start their own businesses.
- Finance: Graduates can work in the finance industry, such as investment banking, asset management, or corporate finance.
- General Management: Graduates can work in general management positions such as vice president or director in a variety of industries.
- Human Resources: Graduates can work in HR which includes recruiting, compensation, and legal.
- International Business: Graduates can work in international business such as trade, investment or marketing.
- IT Management: Graduates can work in IT management such as system administration, product management, or software development.
- Marketing: Graduates can work in marketing such as product development, advertising or sales.
- Operations Management: Graduates can work in operations management such as supply chain management, production or logistics.
- Strategetic Management: Graduates can work in strategic management such as planning, analysis or decision-making.
These are just a few of the many specialisations and industries that a graduate can pursue. With the right education and experience, graduates can have successful careers in a variety of fields.
3. Improve salary potential
Many prospects are drawn to MBAs due to the promise of a generous return on investment. For example, the median salary of an MBA graduate in the UK is £55,000, while the median salary across the UK is £38,600. After three years, graduates can expect their salary to further increase. If they hold a higher position, they can expect a more favourable salary package.
However, it is important to note that these figures are not guaranteed and do not project reality views. The best return on investment is determined by a number of factors including skills, experience, confidence and networking.
4. Gain international experience
Most programs strive to expose students to different global perspectives and business practices. Today, professionals know that they need to understand the complexities of international business and be able to work effectively across cultures, both externally with partners and internally in the workplace.
Whether you choose to complete your degree at home or abroad largely depends on your goals. If you want exposure to a variety of international markets or business practices, it is wise to research courses from various institutions. The diversity of MBA programs around the world is changing and so are your chances of taking your career to the next level.
Below are some of the benefits of studying for an MBA abroad:
- Global perspectives: By learning a global perspective on business, you will learn about different cultures, markets, and business practices. This can be invaluable in today’s globalised economy.
- Cross-cultural skills: You will develop cross-cultural skills which are essential for working in a globalised business environment.
- Network: You will build a network of contacts from around the world. This network can be invaluable for your career.
- Personal development: This can be a great experience, you will learn and work in a new culture. This can help you to become more independent and confident.
If you are considering studying abroad, there are a few things you should keep in mind. These include cost, language, and culture shock. Despite the challenges, studying abroad can be a rewarding experience. If you are willing to put in the effort, you can gain valuable skills and experiences that will help you succeed in your career.
5. Achieve a personal fulfilment
In addition to the professional benefits of an MBA degree, some people choose to pursue this degree for personal reasons. These reasons may include personal achievement, making the family proud, fulfilling a dream and marketing a professional change.
These are just a few of the personal reasons why people choose to pursue an MBA. If you are considering applying, it’s important to think about your own personal reasons for wanting to get this degree. Some things to consider are your career goals, financial situation, and your time commitment. If you decide it’s right for you, do your due diligence and research the best program that fits your needs and goals.
Exploring an MBA course
At Lendwise, we understand the importance of an MBA. It can help you advance your career, earn a higher salary, and achieve your professional goals. But we also know they can be expensive.
We also understand that everyone’s journey is different. Whether you’re applying for a part-time or full-time MBA, the loan can help you achieve your goals. When you’re ready, you can *apply online. We’ll help get on the path to success.
Representative Example: Assumed borrowing of £30,825 over 120 months at 12.73% APR representative. Monthly cost of £509.26. Total amount repayable of £61,199.65. Interest rate of 11.62% p.a.(fixed) and total fees of £925.00. Available for loan amounts between £5,000 – £100,000.
(Representative Example date: October 2024)
*Credit is subject to status and loan approval is not guaranteed. Over 18’s only. T&Cs apply.
