MBA, MBA, MBA: it’s an acronym commonly heard in nearly every field. Why? Because the Master of Business Administration, as it is formally known, is applicable to employees, freelancers, entrepreneurs, and professionals in nearly every career out there. Whether one is self-employed, freelance or working 9-to-5; no matter if hired by a company, organization, initiative, or on the payroll of a local mom-and-pop shop or a multinational firm – an MBA is essentially a roadmap of how to do business.
According to a study conducted by the Association of MBAs, an MBA degree is one of the graduate qualifications most desired by employers in both the private and public sectors. MBA graduates gain and retain a strong skill set that is transferable across industries and fields. An MBA can offer graduates an edge in the hiring process, a foot in the door of hard-to-enter managerial ranks, leads on opportunities, more frequent or significant promotions, and often leads to higher salaries that echo throughout your entire career.
Expanded Earning Potential: Business Experts and Publications Agree
The financial and business magazine Forbes cites data collected for a 2010 peer-reviewed study published in the Journal of Education for Business, in which researchers found that part-time MBA graduates achieved a median post-MBA pay raise at graduation of 41% over their pre-MBA pay, and by the fifth year post-MBA their pay had gone up another 56%. Moreover, Business Week magazine reports a recent survey indicating that “96 percent of business school alumni were employed” in 2012 and that “salaries are up too.”
A recent article in the Chicago Tribune newspaper reports that employment prospects appear on the upswing for MBA graduates. The newspaper further quoted several leading career services directors, who indicated that “hiring of new MBA graduates is rebounding this year and expected to continue as the economy improves. More importantly, the fields seeking students with advanced business degrees are becoming more diverse, meaning a wider array of opportunities.”
How an MBA can Lead to Higher Salaries
The entrepreneurial skills that are taught in an MBA program elevate your business savvy, whether one is employed or an entrepreneur. An MBA provides you with a specific, transferable, in-demand skill set for dealing with business issues in the real work world.
The managerial knowledge and business expertise you gain from an MBA program renders your leadership techniques more effective, thereby automatically improving your job performance. From management issues like problem-solving and conflict resolution to project skills like planning, analyzing, brainstorming and budgeting, you gain a playbook of business strategies. This means that you can effectively execute the principal duties of your job and the mission of your company or organization. No matter whether you are a seasoned professional or a young graduate with limited experience, having an MBA in your arsenal gives you an added advantage.
How an MBA can Translate into Expanded Opportunities
Business connections and networking opportunities: as an MBA graduate, you will have a list of contacts to draw upon down the line. Many of the people you meet in an MBA program are valuable professional contacts later in your career, and vice versa. Your fellow MBA students are all potential clients or employers. By establishing friendly and professional relations during your MBA program, it can mean having a set network of business contacts and referrals.
Expanded horizons for a career change: an MBA can be a smart move if you are considering switching career paths, whether out of interest, geographic relocation, or economic necessity due to the transitioning economies. The transferable skills you acquire during an MBA program can prove to be a big asset if you switch careers or transition across industries. Employers know they can rely on MBA graduates to have certain knowledge and skills, independent of what their specific job experience may be.
What tough economy? An MBA degree includes courses specifically designed to give students the ability to handle complex business situations. Achieving an MBA degree means that you have the training and ability to handle complex situations – just like those that occur during tough economic times. This skill set can significantly improve your value to the company and thereby help preserve your job in the organization. Indeed, demand for MBA graduates remains high even during recessions.
The Florida National University Online MBA Degree
Florida National University (FNU) offers an online MBA program that is designed to provide students who have already earned a Bachelors degree with an opportunity to progress to the Masters level. The online MBA is an ideal choice for students with work experience who wish to enhance their career prospects with higher-level education in Business Administration. The objective of the MBA program is to graduate students with analytical and presentation skills, as well as the functional knowledge necessary to meet employer expectations and achieve career success in today’s dynamic global environment.
The MBA program allows students to focus on one of three concentrations: General Management, Finance, and Marketing. Each individual course also reinforces the student’s knowledge and skills in two areas important to employers: 1) Communications and 2) Problem Identification, Analysis, and Solving.
The MBA program is delivered through various modes of instruction and learning methods including lectures, case studies, individual projects, collaborative learning, research projects, presentations, and problem-based learning. The program further relies on real-life situations in business contexts as a critical component for applying principles previously learned through other learning methods.
The program consists of 27 credits of core courses, which include a Capstone or program evaluation component. There are 3 concentrations available: Marketing, Finance, and General Management.
Advance Your Career with an MBA Today
If you have been looking for a way to progress to the next level of your career, a Master of Business Administration is a great way to start. The online MBA program at FNU could be your ticket to career advancement and higher salary prospects. Contact one of our academic advisors today to find out how to get started!