Why MBAs are a good investment
An MBA qualification and moving up into senior management can go hand in hand. Admittedly, this postgraduate degree is a commitment requiring your time and energy, but the return on investment can make it a vital – and profitable – addition to your resume.
The big picture
By studying for an MBA, you will be exposed to all areas of business and will learn best practice for accounting, finance, marketing, and human resources. What may be a skills gap now could become the focus of your studies – and provide you with vital knowledge to take the next step in your career.
Being pushed out of your comfort zone will be one of the biggest benefits to completing an MBA. And by choosing a course that allows you to select your own electives, this degree becomes tailor-made for you and your career aspirations.
For example, at ACU our MBAs allow you to choose four electives – meaning you have free choice of your full specialisation. Typically, MBAs don’t offer this much flexibility and are more of a generalist qualification. So, when choosing an MBA make sure you look around and select one that works best for you.
Current ACU MBA student Juan Carlo Agapy began his studies with slight trepidation due to his medical background. “What I realised is that the modern workplace is not just about doing what I know as a medical worker,” he said. “An MBA is giving me new insights into business and it helps me see the bigger picture on the way things run.”
While passion is important for completing an MBA program, you still want a return on investment for your commitment. One study states that people who began their MBA before they were 24 saw a salary increase of 145 per cent. For those a bit older, their pre-MBA salary doubled. This means when businesses are searching for top talent, an MBA can add leverage to your salary negotiations.
Many people begin an MBA with a refined network of contacts, usually from their own area of expertise. But by studying alongside students from every field, you’re instantly at an advantage. Coming together to pool knowledge and resources sets the MBA experience apart for students. It’s a unique learning environment where you can feel confident that each person in your lecture has something to offer.
For Chief Financial Officer of Opportunity International Australia, Karen Kandur, her MBA’s learning environment proved to be one of the biggest benefits of the course.
“The classes were relevant, practical and insightful,” she said.
“Studying alongside likeminded students keen to develop professionally and personally fostered authentic and dynamic class discussions.
This allowed us to share practical learnings that we could then implement in our own organisations.”
Get a jump start
Many MBA students are already in management roles or highly experienced in their field. But this qualification could become the push you’ve been looking for to set out on your own.
Studying for an MBA is the perfect opportunity for would-be entrepreneurs to evolve their business ideas and develop a start-up mindset.
Acquiring knowledge through a structured postgraduate program is a valuable investment of your time and resources. It’s the perfect place to test out ideas and learn about every aspect of running a business, particularly the areas you currently lack expertise in. It could be the solid grounding you need to get your business up and running – and succeeding.
Grow your business
For students who have already built their own business, an MBA could be your way to scale what you’ve already started. If your business is smaller than you’d like or if you’re interested in pursuing a new international path, an MBA is going to support that journey and growth, with help at hand from your fellow students and lecturers who might have already been down that road. Ultimately, an MBA is about growing your confidence as much as your knowledge.
At ACU, we offer three MBAs to suit your needs: online, face to face and the Executive MBA.
If you’re ready to invest in developing your career, explore where an MBA can take you.