Monday, April 09, 2007

Should I go for MBA?

In my opinion, they are pros and cons whether you go for MBA or not. This is purely up to you and your environment. If taking MBA benefits you in your environment, you can go for it. However I just want to mention one KEY IMPORTANT point here while some people may disagree with me. If you want to have your OWN business, don’t go for MBA. You can forget about the MBA. MBA won’t help you much on this. However, if you want to work for someone else (i.e. being employed), you can consider taking the MBA and read the following article for the benefits of taking MBA.

MBA’s are for most people, about upward mobility. Some MBA graduates remain with their present employer, while others see the qualification a passport to move between companies, business functions and industries. Studies have repeatedly found that overwhelming majority of MBA graduated considered the development of board managerial skills, as opposed to specific technical ones, to be the main benefit of the qualification.

Before deciding to go for an MBA, one of the things everyone, especially smart investors, should consider is the degree’s possible return on investment. Various MBA alumni or graduate surveys answer this question and some of them reveal remarkable insights on the benefits of an MBA degree.

According to some survey, nearly 3 quarters of former MBA students were promoted while enrolled in their MBA program or after graduation. All survey respondents reported that they were promoted within five years after graduation. Furthermore, around 20% report on average annual salary increase of more than 50%. The average salary increase is between 16%-24%.

Other surveys showed that, in the United States, MBA graduates made around US$61,000 before earning the MBA degree and received a post-MBA salary of slightly more than US$86,000. That is a 41% increase. By comparison, the average annual salary increase at the executive and professional level in the United States, based on research by The Hay Group, is 3.7% (The Hay Group 2004).

Source: Smart Investor

1 Comment:

Anonymous said...

Very good article

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