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Before you dish out the big bucks to pay for that tempting Master of Business Administration (MBA), it’s important to ensure that you are not doing it for the wrong reasons. As a rule of thumb, it’s generally a bad idea to sign up for an MBA if you’re not entirely sure what to do next, are planning to take life as it comes and/or are simply looking for an escape from the drudgery of your day job. To help you make a smart and informed decision, we’ve outlined seven of the most compelling reasons to get an MBA.
1. You’ll get to think globally about big business issues.
Completing an MBA could be a chance for you to take a step back from your daily commitments and reflect on big business issues. You can’t beat being immersed in intelligent and informed insight about the economy and relevant issues for your sector, to help you start-up or get ahead in your career. Whether it’s through your coursework, lectures or discussions with classmates, you will be encouraged from all sides to think deeply about global business trends and issues, and benefit from your international peers’ perspectives.
In today’s global economy, it is important for fresh business graduates to meet professionals from diverse backgrounds to help them understand the incredible variety of consumer expectations, best practices and business issues worldwide. Many MBA programs are highly international in terms of both the curriculum and student intake. For instance, 90% of students enrolled in the International MBA program at Spain’s IE University are international.
2. You’ll learn from the best.
Getting an MBA will require you to discuss current business trends with your peers and mentors, suggest potential solutions to business problems and be challenged by professors and industry leaders every step of the way. Depending on your business school, there may be opportunities to exchange ideas with high-profile business leaders across various sectors. IE University, for instance, maintains a strong alumni network and directory and runs several entrepreneurship labs throughout the year to allow business students to share ideas with professors, CEOs, CFOs and CMOs.
3. Switch careers.
Business school could open doors if you are looking to switch careers, by introducing you to a new network of contacts, giving you time to focus on professional development and accumulate new interests. Of course, a career switch won’t occur overnight and an MBA alone probably will not be enough to break into a new industry. You will have to appeal to your contacts, your school’s career guidance team, and your own resourcefulness!
4. You’ll build leadership skills.
In addition to extending your knowledge of a particular area, an MBA could help you gain soft skills, ranging from team management to strategic thinking. These are the skills you will need in your career, which cannot be taught from coursework alone but through a mixture of team assignments and relationships with classmates, professors and mentors. It’s likely that you will be managing high-strung personalities, leaders and high achievers from a wide range of backgrounds and be required to work together as part of a team to achieve a common goal and learn from each other during team assignments.
5. You’ll learn to give killer speeches.
One of the most significant benefits of doing an MBA is the impact it may have on your presentation and communication skills. If you feel you are lacking in those areas, doing an MBA program could be ideal to help you learn to communicate ideas, values and goals coherently. Presenting projects, leading group presentations and taking part in discussions, you will become more confident and benefit from the regular feedback of your peers.
6. You’ll connect with likeminded people.
Stephane Ketcha Yanga, enrolled on IE University’s Executive MBA, described the sense of community cohesion he feels as part of the course. “What makes the program so special,” he said, “is the fact that we are all here because we are ready for the next step in our personal and professional path… I am sure that most of us will stay connected for a long time after we finish.”
Your MBA network could be tremendously helpful to you throughout your career. When choosing an MBA, it is crucial that you gauge the culture of the school and the real experience of the course by contacting past alumni. Whether it’s to help you find a first job, or several years down the road when you’re hoping to start up or get a sense of a particular industry, you will be very happy to have a healthy network of high-end professionals to draw from.
7. Up-skill in no time.
Why get an MBA at all when you could teach yourself new skills independently on your commute to work or during your lunchbreak? Doing an MBA will help you up-skill more quickly and with something to show for it. Whether you’re lacking knowledge of accounting or would like to learn more about entrepreneurship, an MBA will help you gain a new set of skills and an accreditation.
Whether it’s by making sure that students can reach out to past alumni and network with leading professionals worldwide, or through an excelling careers guidance service, IE University anchors its courses and offerings in today’s job market, realities and possibilities.
Are you ready for postgraduate study? Connect with IE Business School on Twitter, Facebook and LinkedIn for careers guidance, alumni success stories and news about the university.
