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What Does an MBA Really Offer?

The average starting salary for MBA grads of top B-schools is $140,294.

That salary is certainly enticing, and many may be sold on the prospects of an MBA education from the salary alone. But, experts say, B-school isn’t for everyone—especially if you aren’t willing to put in the work.

“An MBA degree is not a password into a secret society,” James Reeves, a practice director of environmental, social and governance consulting with Patina – A Korn Ferry Company, tells US News. “Success doesn’t just find you because of your degree. You will still work just as hard as you did before the degree and I might even say you have to work harder because you’re working on more complex, higher-stakes assignments.”

WHO SHOULD GET AN MBA?

At a high level, an MBA is designed for students who aspire to be business leaders.

“An MBA degree is designed to teach everything needed to run your own business,” Michael Provitera, an associate professor of organizational behavior at Barry University in Florida who has an MBA and a DBA, tells US News. “However, the program caters to managers that want to become leaders and students aspiring to climb the corporate ladder.”

Experts say the degree can be particularly helpful for those looking to improve on certain skills needed to advance in their career.

“Business school provides a safe space to experiment and hone those skills in a variety of situations,” Stacy Blackman, founder of Stacy Blackman Consulting, says. “For applicants with strong technical expertise but who are light on general management skills or anyone looking to bridge the gap between the liberal arts and business, an MBA will catapult you to the next level and expand business acumen.”

THE REAL VALUE OF AN MBA

Aside from the foundational business skills B-schools teach, the real value of an MBA degree lies in the B-school network. For many students, pursuing an MBA is all about building connections—with peers, faculty, and alumni.

“The MBA degree’s real value comes from membership in a lifelong learning community and access to the alumni network,” Nirav Mehta, senior associate director for MBA admissions at the University of Southern California’s Marshall School of Business, tells US News. “The overall network serves (as) an active source of personal and professional support. The connections that one makes through the MBA program can be life-changing, and these relationships help to facilitate career transitions long after graduation.”

Sources: US News, Stacy Blackman Consulting, P&Q

 

 

 

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