Three Reasons To Pursue An MBA

The average cost of an MBA education from a top-25 B-school is nearly $200K.

Business school is—without a doubt—an expensive investment. But experts say there are many tradeoffs that MBA grads receive with their pricey education. Stacy Blackman, founder of Stacy Blackman Consulting, recently discussed a few of the main benefits that an MBA degree provides and why the MBA experience is worth it overall.

NEW SKILLS & KNOWLEDGE

A key benefit of an MBA education is the solid foundation of transferrable skills to nearly any role in the job market. In recent years, employers have shown a strong demand for soft skills—something MBA programs teach rather well. Blackman says an MBA education can offer graduates both in-demand hard and soft skills that can be transferred to a variety of roles.

“An MBA strengthens your leadership ability, intellectual creativity, critical thinking, cross-cultural awareness, communication, and even greater IT mastery,” Blackman writes. “These skills will serve you well as you move toward your ultimate career goal.”

No matter where your career takes you, Blackman says, the skills you gain in an MBA program will be of use.

“B-school gives you a deeper understanding of the complexities of the business world,” she writes. “Those problem-solving skills mastered during your MBA will carry over to your next position, and the one after that, too.”

INCREASED JOB SECURITY

An MBA degree can often be what helps differentiate a job applicant from others. And having a degree from a top B-school shows recruiters that you’ve put in the work.

“You can safely assume a graduate from Harvard Business School or the Wharton School will bring considerable skills and business acumen to the job from day one,” Blackman writes. “Without a doubt, companies appreciate managers who have risen through the ranks, know the business inside and out, and can get the job done.”

EXPANSIVE NETWORK

Perhaps the biggest benefit of an MBA education is the network you’ll gain.

“At business school, you’ll interact closely with talented individuals from all over the globe, which enhances the experience by exposing you to different business practices, cultures, and points of view,” Blackman writes.

The connections that you make (and ultimately keep) in business school, Blackman says, are what make an MBA experience priceless.

“For many people, the connections you make are one of an MBA’s most valuable career benefits,” Blackman writes. “Make sure you capitalize on the opportunities in and out of the classroom during your MBA studies. Your alumni network helps you stay connected to the university as well as to countless professional options you can tap into throughout your career.”

Sources: Stacy Blackman Consulting, P&Q, McKinsey & Company