Deciding to study an MBA (Master of Business Administration) is a big decision to take for aspiring global managers. Is choosing an MBA at a business school abroad worth the time and financial investment, as well as the demanding entry requirements?
If you're preparing to enter the competitive business world of today, we believe it is.
An MBA will offer you a wealth of advantages, especially when it's offered by a top business school with a very good reputation. Getting a higher salary after graduation, landing a top management position, or even becoming your own boss are just a few of the extra advantages.
Need to know more? Here are the top 7 reasons for which it is worth to start studying a Master of Business Administration:
1. Develop priceless managerial skills
An MBA education is usually pursued by young professionals with a minimum of two years of work experience and even by senior employees, that feel up to the challenge. After some time in the professional life, it is in the human nature to conform to a certain repetitiveness and to avoid taking risks.
MBAs and their connected specialisations will teach you a lot about everything that makes a company tick. You will learn how to:
- Manufacture, advertise and sell your products;
- Keeping the company's finances healthy;
- Maintain the company’s positive image;
- Gather and interpret industry data;
- Hire the right people and keep them motivated;
- Create hierarchies that help the company thrive;
- Know when to make the tough calls.
Studying a Master of Business Administration forces you to get out of your comfort zone, deal with the latest issues in international business, apply the newest management techniques, and constantly challenge yourself.
2. Get free access to a large business network
As an MBA student, you have great networking opportunities. You’ll get to know and interact in a context that accentuates your business management capabilities with colleagues, professors and teaching staff (usually former or current potent business people, with great management experience).
Furthermore, if you are not doing a part-time MBA next to your job or within your company, you have good chances to meet potential employers through the various internships that are part of most MBA programmes.
Finally, you gain access to the extensive alumni network of that particular MBA programme. Your connections will give you a great overview of the business world, and a deep understanding of the slightest changes in the business environment. You can reflect on some big business issues, and make connections between various global events and world affairs.
Check some of the most popular countries where you can study an English-taught MBA:
3. Better chances for a higher salary
The average salary for an MBA graduate is considerably higher compared to the salary of an employee with a regular Master's degree qualification. You can expect to earn twice as much as what you would expect to earn from a regular university degree.
Average salaries for MBA graduates
- In the U.S. - 84,650 EUR/year
- European countries - 100,000 EUR/year
In two-three years' time, you cover the investment made with your MBA education.
Average two-year MBA costs at top business schools
- In the U.S. - 101,200 EUR/year
- In Europe - 9,800 to 35,600 EUR/year
Check out some useful advice on how to finance your MBA studies.
4. Start your own company from scratch
Many students choose an MBA because they want to become entrepreneurs and learn how to run a successful business. They have an idea and a big dream and want to know how to turn them into reality. An MBA programme will help you acquire the knowledge and business practices that are needed to start a new business or help an existing business grow and develop.
Many MBA graduates end up starting their own business and those who don’t initially land middle-level or top-level management positions within big companies. Just imagine how becoming your own boss would feel like.
5. Open the door to thriving career opportunities
Due to their qualification, graduates of an MBA programme have higher chances of obtaining and holding a high-level management position. More than 50% of the MBA graduates worldwide are senior managers or board directors. This type of position brings along a higher salary, but also higher responsibilities and longer working hours.
According to Bloomberg, some of the top employers that hire the largest number of MBA graduates in Europe include Deloitte, Ernst & Young, McKinsey, and Boston Consulting Group. American companies like Apple, IBM, Procter and Gamble, and Amazon are also constantly hunting for MBA graduates.
Read more about:
- Careers for International Business graduates;
- 5 business schools in the U.S. top companies are hiring from.
6. Experience a new place and culture during your studies
If you choose to study an MBA abroad, you will not only gain a new perspective on how businesses are handled but get to experience living in a different country. This will broaden your cultural and intellectual horizon, and your business career prospects, as well.
You can find companies that you want to work for, arrange meetings with potential employers and, who knows?, you might end up staying and working after graduation or build your own business in that country.
Based on the international mobility criteria ranking made by Financial Times, some of the top business schools in 2016 are:
- Insead Business School, in France;
- London Business School, in the U.K.;
- SDA Bocconi, in Italy;
- HEC Paris, in France;
- Duke University, in the U.S..
7. Studyportals is here to help
Studyportals, the biggest study abroad database provider, is here to help you find and prepare for the right international MBA to fit your needs and ambitions.
Find information about:
Meeting MBA admission requirements:
- MBA entry requirements in the U.S. and Europe;
- Required GMAT scores to study an MBA in the U.S.;
- MBAs that don't require the GMAT;
- MBA programmes that accept low IELTS scores;
- Motivation letter example for MBA applicants.
Deciding on the right MBA options:
- Business schools in Europe;
- MBAs in America;
- Choosing between an MBA and a MiM;
- The difference between an MBA and an EMBA.
Once you successfully graduate from an MBA, regardless of the location where you plan to build your career, your degree will be acknowledged and you will surely increase your credibility among business people.
The real advantage of an MBA, however, is its proven versatility; with an MBA, you can pursue many career fields and advance to higher and better-paid jobs way faster.
So, start looking for an MBA degree and find your perfect match!