Are you thinking about doing an online MBA but are concerned that 2021 is not the right time to pursue further education?
If yes, you are not alone.
The last 12 months have been a challenging time for most, whether you are in employment or not, and deciding to invest and commit to a degree program of this magnitude should not be taken lightly.
There are countless benefits of pursuing a master’s in business administration, with this degree program having the capacity to set you apart from the other candidates in today’s highly competitive marketplace.
Still not convinced that an online MBA is the right choice for you at this time?
Keep reading to discover fifteen reasons why you should pursue an MBA in 2021, plus the steps that you need to take to make it a reality.
What is an MBA?
Before you delve into why you should pursue an online MBA in 2021, let’s first take a look at what exactly it entails.
A master’s in business administration, is a prestigious postgraduate qualification that provides an overview of key business practices. While MBAs are the same level of education as other master’s courses, they are usually undertaken once a candidate has had several years of experience within their chosen industry.
There are several different types of MBA degree courses, with the one you choose being dependent on your individual circumstances and your level of experience. MBA courses generally fall under the below categories:
- General MBA
- Executive MBA
- Specialist MBA
- Online MBA
- MBA without work experience
For this guide’s purpose, the focus will be on studying an online MBA as this is the ideal option for those who can’t attend university full-time and prefer to manage their studies around both their personal and professional commitments.
Why should I study for an MBA in 2021?
As briefly mentioned above, there are multiple reasons why an MBA is the right choice for you and your career goals in 2021, with this further education option weathering the effects of the global pandemic much better than most.
Below are 15 reasons why you should consider an MBA as your degree of choice:
High demand for graduates
If one of your worries is a lack of employment opportunities when you complete your studies, you should know that there is a consistently strong demand for MBA graduates, even with the financial implications of the last 12 months on industries across the board.
A whopping 90% of U.S employers plan to hire MBA graduates in the upcoming year, with the vast majority believing that these individuals will play a big role in the post-pandemic economic recovery.
More career growth
As well as getting into the field you want to work in within the world of business, you may also want some reassurance that there is room for career growth in your chosen job. Fortunately, there is nothing quite like an MBA for placing you one step ahead of other potential candidates when it comes to promotion opportunities.
If you are happy with your current company but you are struggling to move up the career ladder, an online MBA is the perfect choice for you, allowing you to study around your current commitments and directly apply what you have learned to your current position.
Removes entry barrier
Depending on the industry that you would like to work in, you will find that some sectors will only accept those with an MBA degree. This is particularly true for those who want to pursue a career in finance or consulting.
For example, companies such as Apple, Amazon, and Deloitte all hire management trainees who move quickly up the career ladder into more lucrative positions. Furthermore, when it comes to employment, most of the top business schools in the United States boast a 90% success rate, meaning that you are almost guaranteed to find a job within your chosen field once qualified.
If you feel trapped in your current industry sector, you will be pleased to hear that you can unlock doors to new and improved career opportunities with an MBA. All you need to do is make sure that you choose the right MBA degree course for your career goals, and you can choose to work in whatever sector that takes your fancy.
From sales to marketing, international business to analytics, the world is your oyster once you have completed your master’s in business administration.
The last year has hit many pockets hard, and you may be worried about spending money on further education. However, you should know that an online MBA can be completed within as little as one year, permitting you to fast track your career and earn significantly more money within a very short period.
Furthermore, by studying online, you can continue to work in your current position, bringing in a steady income while improving your overall career prospects.
As just mentioned, once you graduate with an MBA, you can expect to earn a higher salary than you do right now. Most companies within the US and worldwide offer an increased salary to attract MBA graduates, with the average starting salary being $115,000, more than double the median for new bachelor’s degree hires.
Of course, money isn’t everything for your future career, but it can help offset the initial investment of undertaking an online MBA this year.
Chance to network
You should never underestimate the value of networking in today’s business world, where the saying “it’s not what you know but who you know” has never rung truer. Fortunately, if you hate networking or you don’t have the opportunity to do it as much as you would like, an MBA degree offers you the perfect platform to flex your networking skills.
Not only will you get to intermingle with industry leaders within your chosen field, but you will also have your alumni network to get to know and learn from, both of which can be invaluable when it comes to finding a job once you have graduated.
Gain entrepreneurial skills
If you dream of starting your own business, then an MBA degree can help you to get started on your path to success. Many students who decide to pursue an MBA do so because they want to become an entrepreneur and rightly believe that this type of degree program will arm them with the skills and knowledge needed to create an effective business plan and succeed as an entrepreneur.
Plus, by choosing to study an online MBA, you can continue to work and save money for your new business venture while building up your skillset and making valuable contacts in the business world.
Improve managerial skills
An MBA degree course will help you gain crucial managerial soft skills such as teamwork, communication, leadership, and negotiation in their simplest form. Whether you choose to pursue an online MBA or you prefer to attend physical classes on campus, you will have the opportunity to participate in workshops, team exercises, seminars, and many more team activities that will help prepare you for a leadership role within your chosen field.
An MBA will also help to hone your critical and strategic thinking skills by encouraging you to brainstorm ideas and think outside of the box, both of which are highly sought after in today’s innovative business world.
To become a successful leader, you need to have confidence in your abilities and be able to make big business decisions without supervision. By completing an MBA degree, you will be armed with the knowledge and the practice to succeed in the corporate world.
Whether you struggle with nerves during the interview process, you are not a fan of public speaking, or you dislike giving employee appraisals, the process of leading team projects, taking strategic risks within a safe environment, and getting real-time feedback will help improve your confidence in your abilities to no end.
Not to mention the fact that by simply being able to state on your resume that you are an MBA graduate, you will instantly feel more empowered and ready to take on new challenges with confidence.
If you feel that you are not respected in your current position, an MBA can help you to earn the credibility you deserve. Allowing you to establish authority in your chosen field, an MBA will instantly gain you the respect of your peers and your employers, which can help you progress in your career.
That being said, you need to ensure that you pick a prestigious university that has a proven track record in helping students prepare for the modern business world. Although you may think that you need to get an MBA from a top brick-and-mortar university to enjoy success, there are so many outstanding online universities now that can pave the way for various career opportunities.
You don’t need to spend the next four years chained to a desk to be able to qualify with a master’s in business administration. There are now so many different types of MBA degree types that you can pursue, with options to suit all budgets and personal circumstances.
For example, as previously mentioned, by undertaking an online MBA, you can work at a pace that is suited to your current lifestyle, whether that involves studying around work or your family commitments. Furthermore, you can study wherever you want to without having to worry about being at a lecture or seminar in a set place.
No age limitations
The beauty of an MBA, especially an online MBA, is that there is no bias when it comes to your age. If anything, the older you are, the more experience you are likely to have, which is a major selling point when it comes to being accepted to an MBA course.
Therefore, if you have been previously put off by the thought of being surrounded by students straight out of school, you now know that age is no barrier when it comes to success in the world of business administration.
If it has always been your dream to become an international business man or woman and travel the world, you should know that an MBA degree has worldwide credentials and is country-agnostic, meaning that it will prepare you to work in any country in the world.
Plus, you can find MBA courses that focus on global experiences and teach global perspectives on a wide range of common business issues, preparing you to live and work in another country.
Last but definitely not least, an online MBA will increase your knowledge of operations within the business world and provide you with unique and highly sought-after insights into modern businesses.
When you start your studies, you will focus on core subjects such as finance, accounting, marketing, and operations. You will then have the opportunity to gain in-depth knowledge in a specific area of business that you are interested in; these are known as your elective courses. As well as theoretical knowledge, an MBA degree also offers you experiential learning through internship opportunities.
The world of business is hugely competitive; this is undeniable. Therefore, if you want to stand out in a sea of high-caliber candidates, you need to take the initiative to better yourself and your resume. By pursuing an online MBA, you enjoy a wealth of advantages such as a higher salary, respect from your peers, career development, job security, and so much more.
The only question left to ask is:
Are you ready to take the next step in your career and, indeed, your life? To embrace new opportunities, seek out challenges, and become the best person you can be?
If yes, then today is the day. Start looking into the right online MBA for you right now and enjoy a brighter future as early as tomorrow.