Master of Business Administration or MBA, as it is popularly known, is a master's degree that provides a broad education in business, commerce, administration and related spheres. The degree is seen as a worthy investment for individuals who aim to pursue business as a long-term career.
It has been observed that several people want to take up MBA at some or other point of their lives, making it an extremely coveted degree. But the question still remains if pursuing an MBA from abroad is worth the type. Before we answer this complex question, it is important to understand the investment in and return from this degree.
INVESTMENT
The average cost of pursuing this degree from abroad is about $100,000, which is a fat amount. Students usually apply for a scholarship to lean down the amount or take an education loan, which they repay later. If we consider the investment factor, it is pretty big but MBA is a course that is almost always more expensive than other courses in the market, given its popularity and return possibility.
RETURNS
Next up, job opportunities. According to research, more than 90% of recruiters would prefer an MBA holder rather than a general candidate. The median salary of MBA holders is about $115,000, which fluctuates depending on your university, specialisation, skill-set, experience etc.
REASONS FOR DEMAND
There is a huge demand in the market for MBA holders who have graduated from top-notch universities like Harvard Business School, Standard Graduate School of Business or London Business School, among others. One of the major reasons for this demand is the network of an individual. Usually, students of business administration are good at networking and growing their pool of connections, which is essential to run a successful business.
Apart from that, MBA holders are known for skills like quick and efficient decision-making, leadership, strong communication skills, strategy building etc. which aids them throughout their career. May it be incorporating and running an organisation, or working in one, people who have pursued an MBA degree usually get the work done. This is not only appreciated but highly valued in a corporate space.
THE ULTIMATE DECISION
A lot of students take up MBA when they are clueless about their future but that shouldn't be the case. The degree not only demands a huge investment but also requires commitment towards the course and a sense of honesty for learning further in the sphere.
There doesn't exist any hard and fast rule to determine if and when you should pursue an MBA. But a good way to know if you can compliment the course well is to see if your goals align with the subjects taught. Consider your present and future, while keeping your time and objectives in mind. Remember, people don't buy what you do, they buy why you do it!
We know and understand that the application process can be overwhelming; that's why we are here for you. The study abroad experts at Hello Study Global are there for you every step of the way. From the preparations for entrance exams to college applications, we will guide you to success.
Feel free to reach us at Hello Study Global.
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