10 Benefits Of Pursuing An MBA For A Career Change

By Indeed Editorial Team

Published 26 May 2022

The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.

A Master of Business Administration (MBA) degree is one of the most versatile qualifications for improving your career prospects. It is one of the most popular credentials for professionals looking to change their career or the industry they work in, improve their current job prospects within their company and increase their earning potential. While there are plenty of ways to complete an MBA degree, it is important to know how and why you want to achieve it before applying for one. In this article, we explain what an MBA degree is and examine the benefits of pursuing an MBA for a career change.

What is an MBA degree?

An MBA is a post-graduate degree focused on teaching the core requirements of a business, such as accounting, strategy, communication or management. To be eligible to apply for an MBA degree, accredited institutions require that you have a minimum of a four-year bachelor's degree from an approved university. Unlike a standard master's degree, most institutions require students to have had at least two years of full-time work experience to be eligible for an MBA qualification.

A standard MBA takes approximately one to two years to complete, but it depends on whether you complete it full time or part-time and whether you pursue an executive MBA program. If you choose to complete your degree part-time, then it may take longer to complete, but it is an ideal way for working professionals to progress in their careers without having to leave their job to do so.

Exploring the benefits of an MBA for a career change

An MBA for a career change has several benefits that can help you enhance your career potential. These include:

1. It can improve your knowledge and skill set

An MBA is a comprehensive program that offers the perfect opportunity to update and enhance your existing knowledge and skills and put them into practice. Not only is this course ideal for improving your existing skill set in a real-world setting, but also for learning areas in your repertoire you can work on and improve.

If you are strong with numbers, an MBA may help you build on your creativity or marketing abilities, or if you want to improve your ability to communicate, an MBA can teach you the skills required to command respect and run a successful team. Other skills include leadership and management skills, accounting, data collection, motivating team members and prompt and able decision-making, depending on the speciality.

2. It can improve your prospects within a company

Many MBA students choose to pursue an MBA degree to further their prospects in the company they are working at that time. Some companies may even cover the costs or contribute towards the costs of studying for an MBA because they can benefit from upskilling their employees. Completing an MBA can help you level up within the company you are in, which can be ideal if you are looking to move into a management position.

Read more: How Much Does An MBA In HR Make? (With Skills And Job Roles)

3. It can enhance your professional expertise

An MBA is an ideal credential for providing working professionals with diverse new opportunities to test their mettle. These opportunities can differ vastly from your previous role. An MBA can provide the opportunity to develop skills and imbibe knowledge for a teacher to enter finance or for an accountant to become an entrepreneur. The degree enables you to garner a variety of transferable skills that are sought after in most businesses and industries.

Read more: A Guide To Writing An MBA Fresher Resume (With Examples)

4. It can increase your earning potential

Completing an MBA degree provides you with advanced skills and knowledge in finance, marketing, sales and overall business management, depending on the specialisation. These skills and proficiency have relevance in several industries, ensuring more opportunities for you, which means you can get the freedom to work in an industry you prefer. It also helps you level up in terms of professional designation, which can be helpful to increase your earning potential and attain professional growth.

Read more: How Much Do MBA Finance Graduates Make? (Top Jobs Explained)

5. It can help you gain niche experience

MBA schools offer personalised niche programmes that equip you with the requisite skills to advance in your chosen career. There are a variety of specialisations you can choose from, such as general management, finance, marketing, entrepreneurship, operations management, IT management, international business, human resources and strategic management. The field you choose to study depends on your interests and the area of the business in which you want a specialisation. Ensure making a choice accordingly as that can make it easier to find a job in the domain you prefer.

6. It can help you discover your passion

Applying for an MBA program can open up new skills and career avenues you may not have considered before. While completing your degree, you may gain exposure to various business departments and familiarise yourself with their duties and operations before finding your niche. You may discover that you have a passion for finance, strategy or analysis, or maybe that you are interested in starting your own business as an entrepreneur. An MBA is ideal for exploring different avenues in business management to identify what works best for you.

7. It can expand networking

While completing your MBA, tasks within the curriculum may encourage you to gain first-hand experience and put your theoretical knowledge into practice. It can help you develop important business contacts via alumni, faculty leaders and other MBA professionals.

There are various internships that can help you gain first-hand knowledge of how to manage various departments of a business and increase your skill set while earning a stipend. MBA internships are a great way for large companies to find potential employees that they wish to promote into full-time employees. These opportunities can connect you with the relevant contacts that can shape your entire career and help you pursue and achieve your goals.

8. It can inspire creativity

An MBA is a great credential for a marketeer. Not only can you focus on enhancing your sales skills and understanding the basics of the business, but you can also learn how to do this creatively. As you interact with people and discover more about the marketing industry and market trends, you can make your marketing more creative, unique and appealing to customers.

9. It is achievable

One of the significant benefits of an MBA is that if you put in the effort, an MBA qualification is not very difficult to acquire, with several reputable private and government colleges offering a diverse range of MBA specialisations. It is also workable if you do not have enough time to commute or put in a stipulated number of hours daily, as there are both distance and part-time courses available. This makes it ideal for both students and working professionals to pursue an MBA without hampering their other responsibilities.

As a result, unlike other degrees that require you to complete a course full-time and on-site, you can do an MBA at your own pace wherever and whenever you see fit.

Read more: A Guide To Completing Your MBA After B.Tech (With Jobs)

10. Anyone can do it

There is no age limit for completing an MBA degree. Unlike other degrees completed through universities that have an age barrier. This makes it possible for you to pursue an MBA at any stage of your professional career. You can either sit for the Common Admission Test (CAT) to enrol in the best private and government universities or use any graduate degree you have obtained to apply to other colleges in the country. Having these flexible entry requirements makes an MBA more accessible for potential candidates.

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