If you’re interested in a career in business, have you ever considered undertaking an MBA? Becoming a master of business administration may seem like a daunting task; but by breaking down and outlining where you want your career to lead you, perhaps you may realise that undertaking an MBA may be the next step in the right direction.
Think of where you want to be in twenty years’ time….it may feel overwhelming. However, by setting personal goals and targets as a method of motivation, your career journey will become much easier. From picking what you want to study at University, to then narrowing your field within an MBA; it’s essential to always have the right motivation driving your choices. Becoming an MBA graduate takes commitment, focus and determination; successful students don’t just drift through these courses – they know what they want.
Why to pursue your MBA
As a student of business you can channel your field of study to as specific or as general as you want; depending on where you want your career to take you. This enables students to concentrate on modules they have a passion for, or that are actually relevant to their career in business. Whichever field you decide to pursue, there are some overall advantages from having an MBA.
- Salary Increase – With an MBA, typically you expect to receive around double the amount of money that you would receive from a regular university degree. With most MBA courses, students can expect to receive a ROI within 2-3 years of finishing their degree.
- Career Opportunities – The aim of an MBA is to open doors in your career; the majority of MBA graduates end up securing board director or senior management roles.
- Business Networking – When studying for an MBA, you will meet a variety of like-minded people who will all have potentially something to offer you when it comes to your career. From student peers who will go on to become high level managers to lecturers who already have contacts within the industry; you will truly understand the importance of networking from the beginning.
- Skill Acquisition – As you are aware, the business world is ever-changing. So when it comes to undertaking an MBA, your studies are conducted with the newest approaches, theories and practices; taking current trends into consideration. In essence, you will finish your MBA fully prepared for anything that the modern business world might throw at you.
Of course, there are a few challenges when it comes to MBAs. Choosing the right MBA can be a big challenge for one. For example, do you consider home study, university or distance learning? and what about duration, do you go for two years, three years or six years? It may be tough already in the decision making process but there are resources that can help you decide. There are many resources online that give you MBA course information, the Telegraph MBA course site provides a breakdown of what MBA courses are available, the entry requirements needed, how much the fees are and how long the MBA courses will last in duration – very useful information to have.
Money will always be a big factor on deciding whether to study for an MBA or not; worldwide ranging from $80,000 to $150,000 for two years. On top of this you need to factor in travel and living expenses, computer and school supplies also. There are grants, scholarships funds and loans out there to help support people in studying for MBAs – so it is always worth looking into if money is an issue.
Finding a balance of personal and educational obligations can provide tricky when studying for an MBA, especially if you have a family. Ideally you want no stress from the outside world when studying for your course; you will have enough to deal with. So whatever your personal situation, you must find a way to make it work – otherwise you will be simply wasting your own time and money.
3 steps towards successful career opportunities
There are several ways you should conduct yourself whilst studying for your MBA course to make the most out of it. Here are six simple tips which you should always follow when aiming to achieve your MBA goal.
1) Try to stand out. Your business school will be just as competitive as the real business world, if not more. By striving for the best, being punctual, asking questions, engaging in debate, leaving late from class and interacting with lecturers you will put yourself in the best possible position.
2) Be realistic. All your goals should be an accurate representation of your skills and how they will potentially grow. By having career aspirations rooted in reality, you will find success within your MBA and beyond.
3) Isolate yourself. Your MBA is perhaps the biggest personal investment of your life, financially-wise. By letting yourself be distracted from the task at hand, you will be failing yourself. Get your head down and put everything possible into your studies; one day you will look back and be glad you did.
With the right enthusiasm, drive and motivation; securing your MBA shouldn’t be a problem. Take the opportunity to absorb as much knowledge as you can, whilst using the school as an opportunity to improve your networking skills. Remember, an MBA is just another wrung on the ladder towards your ultimate career aspirations.
Photo Credit: Flickr/Satomi Abe