The Value Of An MBA

An MBA can open doors to a variety of careers.

But what exactly can you do with the degree?

Ilana Kowarski, a reporter for US News, recently spoke to experts about what you can do with a business degree.

WHAT DOES AN MBA TEACH YOU?

A business school education can teach students a variety of marketable skills.

One of the biggest skills b-school teaches you, according to Elissa Sangster, CEO of Forté Foundation, is the ability to have “insight into the people, the process (and) the product.”

Additionally, experts say, b-school can offer hands-on learning with actual companies – something that is highly beneficial when it comes to looking for a job post-grad.

“The benefit of action-based learning is it really gives students the advantage of being able to put theory into practice,” Peter Faricy, Vice president of Amazon Marketplace and MBA alumni of the Ross School of Business at the University of Michigan, tells US News. “If you enjoy business roles and you want to do this for the long haul, I put the MBA in the no-brainer category.”

And in today’s day and age, the MBA has evolved to become even more relevant, with b-schools focusing on teaching their MBAs in-demand skills.

“Our dean is pushing all the chips behind data analytics,” Eric Bradlow, faculty director and co-founder of Wharton’s Customer Analytics Initiative, tells P&Q. “We have chosen to make it one of our pillars. And our dean has not taken the shortest path to the dollar but one that is consistent with our brand in the long-term. We want to be on the Mount Rushmore with finance and entrepreneurship and marketing. We are not looking to kick off anyone from Mount Rushmore, but we think analytics is as important as any other business discipline today.”

MULTI-INDUSTRY APPLICABLE

One of the biggest benefits of an MBA is the ability to tap into nearly every industry.

Paige Arnof-Fenn, a Harvard MBA recipient and the founder and CEO of the Mavens & Moguls marketing firm, tell US News that b-school grads have access to: corporate positions, startup roles, nonprofit management roles, government jobs, and board positions.

Additionally, b-school grads can often enter industries that pay well.

“Most business degree-holders enter business to make money,” Layton J. Cox, a second-year MBA student at Southern Methodist University’s Cox School of Business, tells US News. “This means they gravitate towards fields that are growing fast and have high margins. Right now, technology is a huge field. Before the recession, real estate was a popular option. Any field with fast growth and profits will be enticing for a recent business grad.”

For many MBA recipients, the value of the MBA degree is the fact that it can open doors that were previously closed.

“I know having an MBA helped my resume stand out to get interviews and gave me credibility as an entrepreneur,” Arnof-Fenn tells US News. “I am so much happier in a career that allows me to use both sides of my brain, explore a more creative path and use my business acumen in all sizes and types of businesses from the very largest public companies to venture-backed startups and now running my own firm.”

Sources: US News, US News, Poets & Quants