You may have already guessed from the name but a Master’s degree in Business Administration or MBA program is a postgraduate degree that is heavily focused on the different aspects of business. Under it are several branches such as economics, marketing, operations, finance, and accounting. Having knowledge on all these subjects or branches are meant to prepare you for the business world – a domain that you are in or will possibly traverse after your postgraduate studies.
For years, a master’s degree in education was the most popular postgraduate program, but the MBA has taken the top spot and is now the most sought-after postgraduate degree in countries all over the world – particularly in the US. Employer’s acceptance and assured return-on-investment (ROI) of the degree are the primary reasons the MBA has achieved remarkable growth over the past centuries. Acquiring an MBA degree almost guarantees success and financial stability, which is more than enough reason for many to take it up.
Year after year, more and more people are choosing to get a master’s degree, and most of them prefer a master’s degree in business administration while specializing in any one of its many branches. A number of these MBA students came straight from college and decided to further expand their knowledge before jumping into the dog-eat-dog world of professionals. Many, however, are already professionals who have been in employment for many years and have chosen to return to studying.
These two groups of people, although slightly different in terms of age and work experience, have one important thing. They both put value in an MBA degree and have and know that having one is a sure-fire way of advancing in their respective fields. They aren’t mistaken. An MBA degree really has the power of affecting one’s career trajectory in more ways than one, and that’s exactly what we’ll talk about in this article.
For those who often find themselves asking how taking an MBA program affects your career, this is the perfect read for you so just keep on reading to get the answer to your question!
Whether you’re fresh off of college or a seasoned professional from the business world, it is crucial that you know the differences between an undergraduate and MBA program prior to your entry to postgrad studies. A rough idea of what MBA programs are like should help during the adjustment period, so keep these things in mind.
Chances are that the people you spent your college years with were somehow near your age – late teens or early twenties. You may not have been all of the same age but there wasn’t a huge age gap, which made it easier to interact with them casually.
Don’t expect for things to be the same in an MBA program. You are likely to come across a diverse set of people during this time. Some of them your age, while others are way younger or older. So, if you’re planning to enter a postgraduate program, then make sure you are ready to socialize with different kinds of people from different walks and stages in life.
As compared to your undergraduate courses, the ones you are required to take in an MBA will have greater depth and less breadth. In your first year, you will have classes that focus on the different disciplines and learn more about them. Most of those classes barely go beyond the surface and are nothing but introductions.
After that first year of general learning, you will then be required to narrow your studies to a single one. All your classes will be highly-focused on that discipline that is hopefully related to the career you want to pave for yourself.
Undergraduate classes are often composed of hundreds of students that are majoring in the same subject. Being part of such a large population allows some students to fade into the background and graduate without drawing any attention to themselves – whether positive or negative.
This isn’t possible in postgraduate school. Your class will be much smaller, which means you will be much more visible to both your peers and professors. You will no longer have the luxury of blending in and cruising until graduation. In fact, doing so can hinder progress and success, so be ready to make yourself stand out in the best way possible.
Four years of undergraduate studies will have you used to sitting in cramped classrooms and lecture halls, listening to your professors’ seemingly endless lessons, and taking down notes. MBA programs are far different from this normal scene. Most of the things you do in the classroom will have little to no bearing on your actual grade and final assessment.
What you will be judged or graded on is the actual, overall performance in the field. Yes, you will most likely be sent in the field where you are either required to work closely with your professors and teach undergraduate classes. You will also need to focus on your research or dissertation as this is what most impacts your grade. Your skills as an individual are much more important – but of course so are your skills as a team player – since the course is heavier on independent work.
Everyone who’s taking up an MBA program does it because they want to. They were neither forced nor required by law or by family. It is through their own decision that they ended up taking a postgraduate degree, which means they want to be where they are. It’s easy to brush off this small difference in mindset, but it actually changes a lot of things.
For one, everyone will be more motivated than any of your undergraduate classmates. They will engage more in intellectual discussions instead of casual conversations because they want to test their knowledge, and they will most likely include you in those. You can take this as a good thing since you will be able to learn and discover more about the field you’re interested in as well as yourself.
There are many good reasons to take up an MBA program, and that’s what we’ll enumerate here. Note, though, that the reasons listed in this section doesn’t necessarily relate to things such as career development and salary for those will be discussed later on.
Most professionals are going back to school to get an MBA degree because they want to shift gears. They want to switch careers either because they’re tired and unhappy with their current one or that they just see no room for growth in it anymore. Majority of postgraduate students actually site wanting to shift careers as the primary reason for going back. The desire to explore new areas and develop new skills along with a new career plan is often their main motivation.
In order to be able to advance in their career or transition into a different one, people need to develop more skills – advanced ones that are more specific to the field. In the case of an MBA program, what you will develop are managerial skills that you can apply in practically any field and company. Some of these skills include the gathering and interpreting of important data, creating hierarchies, analyzing company cultures, financial management and more.
Aside from skills, knowledge is also important. You won’t be able to navigate through the intricate branches and webs of business without appropriate knowledge. Moreover, the information and lessons you learned during your undergrad can only take you so far. There’s more to those things and you can all know of them in postgraduate school. There, you will gain a better understanding of the business world and will be able to look at it in a different but better perspective.
As an MBA student, you will have instant and free access to a great business network made up of the top people in the industry. You will be able to build this network through your friends, professors, and other teaching staff. You may even stumble upon them during seminars and out-of-school events. Even as you are doing research and finishing your dissertation, it is possible to come in contact with these people who you wouldn’t have any way of reaching otherwise.
Since we’ve already mentioned a shift in gears or careers, here are some of the common career paths for MBA graduates:
More often than not, MBA graduates go on to become entrepreneurs. Since they’re already learned about the ins and outs of business, they are more confident in starting their own companies or co-owning one with trusted peers or family.
Individuals who don’t want to work for any specific company but would like to help many to succeed become management consultants. They’re jobs it to advise companies and organizations on their practices regarding management. They look for management problems that are holding the company back and solve it with the knowledge that they have.
If you’d use your skills and knowledge to help individuals than large companies, then financial management may be the career path for you. Here, your role is to help families plan for retirement, children’s education, and building individual wealth. You’re expected to look out for your clients’ financial health through suggesting profitable investment opportunities.
Administrative duties such as hiring, firing, conjuring work policies, payroll, and acting as the liaison between upper management and employees are the responsibility of individuals in human resources management. They are tasked to help companies function through managing employees to the best of their abilities.
As someone working in advertising and sales, your task is to manage company revenue mainly through increasing brand and product awareness. Aside from this, you will also be responsible for setting goals and quotas, understanding the market base, creating training sessions for the sales force, and devising promotional materials and opportunities.
What we’ve listed here aren’t the only career paths for MBA graduates but the most common fields that they venture to. In reality, they can enter any field they wish to as long as they can properly utilize the skills and knowledge they were taught at school.
Once you complete an MBA program, more career opportunities will be available to you. Higher and better job positions will be accessible, different career paths will be easier to take, and even your rate of promotion will drastically increase. Getting an MBA degree is a great way for people who have hit the ceiling or tired of their current work to chase after something far greater than what is available to them now.
Companies and organizations have high regard for people who have postgraduate degrees and even more so for those that have MBA degrees. It is one of the most prestigious in the field of finance and business and management holds high respect for people who have them. What this means is that you, as an MBA degree holder, have a huge advantage over other individuals who are applying for the same position you want. It may not guarantee employment but it definitely increases your chances of getting hired.
People these days don’t have a problem with jumping from one workplace to another. Some even enjoy doing this as it gives them a different set of skills and knowledge and they earn a better understanding of the different fields. Despite this, people hate getting fired – a problem that people with MBA degrees won’t have to face. Management is more reluctant to let go of them because they are guaranteed to offer more than other people. So even if the company downsizes or cut costs, they will still be able to keep their job.
People who have achieved higher levels of education earn two to three times more than others. Whether or not you have experience or not, as long as you have a postgraduate degree, you are sure to secure a high salary. You may have to ask for it yourself, but you can guarantee that companies will be willing to match your request just because they see value in your skills and knowledge.
A career-ready environment, industry-specific programs, highly experienced faculty, and intensive internship placements – these are the things one can expect from Enderun Colleges. With quality business management courses and them being a known international college in the Philippines, they offer premier education that is on par with world-class colleges and is definitely guaranteed to prepare students for the professional world.
Their goal is to help their students become outstanding professionals in their respective fields. Independent thinking and effective leadership are what they want these individuals to cultivate as they enter the global workplace. In the end, their graduates are equipped with the core competencies that allow them to work for industry leaders all over the world!
Looking to expand your knowledge and develop specialized skills in order to climb further up the corporate ladder? Apply now for an MBA degree at Enderun Colleges!