The Relevance of An MBA Degree in The Evolving Workplace

The Relevance of An MBA Degree in The Evolving Workplace
The Relevance of An MBA Degree in The Evolving Workplace

An MBA is not only relevant but a powerful edge over your competitors. Your MBA symbolizes your accumulated knowledge and insight, as well as your work ethic and drive to succeed. 

Change is inevitable and is certainly so in our ever-transforming job market. It’s worth remembering that change is the very thing that keeps you relevant! An online MBA is, in fact, more relevant today than it has ever been. If you are unsure, let’s take a quick look at the facts. It is important to be well-informed before deciding how you plan to navigate your professional life.

 

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Your Timing Couldn’t Be Better

Your personal motivation for pursuing an MBA needs to be gauged. For some, the reasons are simply for a chance at a higher salary or getting on the fast track of climbing the corporate ladder. Those are both legitimate reasons and make a lot of sense. But in today’s world, there is an even more compelling reason to take advantage of this life-lasting opportunity. Changing global markets demand that we change our methods, messages, and strategies to meet those needs.

Businesses are competing against each other in a race to capture a moving target. We are in the midst of a hyper-energized job market that is changing quickly and out-pacing demand. It’s exciting, and the great news is that this growth phenomenon proves the value of an MBA education more than ever before.

If the thought of committing to earning an MBA has you feeling a little overwhelmed, we get it. The hardest part is getting started. You may be tempted by real-life obstacles and convenient excuses to halt an MBA career path. Too many are quick to dismiss getting an MBA due to cost, time, mobility issues, routine, and falling into the trap of comfort with the status quo. But don’t say no quite yet. There are incredible opportunities for you right around the corner.

MBA Job Growth Projections

Your online MBA holds more value today than it ever has. According to the U.S. Bureau of Labor Statistics, the projected U.S. growth rate of all occupations from 2020 to 2030 is predicted to be 7%. The average growth rate, for say, a Market Analyst with an MBA, however, is double that rate. This is an important statistic because the job you have now, or the one you’re seeking, may no longer exist in the future or look quite different than it does today. It’s also quite likely that a job you want hasn’t been created yet. The question is, are you pursuing the change that lies before you so that you are ready and relevant when it appears?

An MBA is your ticket to change, professional growth, and transformation that is and will continue to evolve. Growth and migration are the perfect ingredients for creating jobs and MBA holders will benefit from these since they will better be poised and more flexible to fit right in with all the changes that industries are anticipating.

 

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Is It Better to Get a Specialized MBA or General MBA?

As an MBA student, you’ll need to decide between a general and specialized program. Both offer distinct advantages, depending on what you hope to accomplish professionally. Your answer may vary based on your desired career path, unique skills, and preferred industry.

In a specialized MBA course, students do learn the general aspects of management but the curriculum is designed to train them in only a specific area, therefore becoming experts in their respective fields. A general MBA on the other hand provides a broad knowledge of key management domains, which can work across industries and job profiles.

businesswoman-working-with-financial-project

Stay Relevant By Knowing What’s Hot

A U.S. News & World Report article titled “7 Hot Jobs for MBA Grads” noted the shift in where MBA graduates are finding employment. It used to be that new MBA grads would flood the financial and consulting fields. Today, you will find an increasing number of this same population getting more jobs in products and services and technology fields. Financial Managers, however, remains “hot” and are firmly on a path of increases in both the number of jobs and high salaries.

The rewards of earning your MBA today can’t be overstated. There are still fields that require an MBA for an entry-level position. More importantly, these are also the professions that will allow you to compete for career advancement opportunities and a higher salary. Remember, an MBA is just one of the determining criteria for hiring. Other factors include where you received your MBA, your geographical location, and your chosen industry. If you manage to end up with a balance of most or all of those factors, you will have set yourself up well toward earning a six-figure salary. Consider the following examples:

  • According to the Bureau of Labor and Statistics, an estimated 50% of Mental Health Care Managers can expect to earn a mean annual salary of $101,340. The highest average yearly salary in this field is $205,620. For those seeking to use their MBA’s in the healthcare industry, you will be happy to learn that, as a whole, the healthcare field is anticipating growth at an above-average rate - 32 percent by 2030 to be precise.
  • If Information Technology (IT) is your thing, earning your online MBA couldn’t come at a better time. Although your entry-level job is most likely going to be as an IT Director or Manager, your MBA will make you a much more competitive candidate in the future. The 2022 U.S. News & World Report identified Software developers as being one of the top technology jobs. Software Developers earn high salaries in a field that is expected to grow faster than any other over the next decade.
  • Our global economy is a wonderful opportunity that has expanded job growth while opening the door to unlimited possibilities in International Business. Accredited online MBA programs will catapult your career into a very specialized group of professionals. This market is hungry for ambitious world-savvy people to lead their niches into new territory. Companies in nearly every industry conduct business globally, and an MBA multiplies your value because of the strong demand.

AACSB Accreditation 

It won’t take you long in your MBA research to stumble across universities that have an AACSB accreditation. Only five percent of business schools worldwide have volunteered their program to be scrutinized and doing so ensures a high-quality education.

If you want to earn an MBA degree that will broaden your skill set, increase your knowledge, and accelerate your career path, an AACSB accredited program is the ideal path for you.

Consider the Suffolk University Online MBA Program

Whether you want to sharpen your skills in a specific business area or understand the landscape holistically, Suffolk’s 36-credit Online MBA is sure to help you. Students can choose from various concentrations including Accounting Principles, Business Intelligence, Health Sector Management, and more - staying ahead of the evolving workforce. 

Suffolk University programs are immersed in real-world business via the Boston business community and global companies as well. They build programs around your needs while upholding the highest of educational standards and best practices. Earning your MBA online through Suffolk University provides a flexible, convenient, and affordable investment in your future.

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