5 Benefits of Getting an MBA

Enrolling in an MBA program has become quite popular as people seek to improve their resumes and attain the skills required by employers. According to the Graduate Management Admissions Council (GMAC), the number of Canadian and international students taking the council’s test has risen by 7% since 2008. You too can enroll in an MBA program and enjoy benefits such as:

Get a Job Relatively Quickly

The beauty of earning an MBA is it can help you get a job immediately after leaving school. Figures published by GMAC show that 92% of people who completed Master of Business Administration programs in 2012 got job offers after graduation. In addition, up to 80% of international students who complete their Master of Business Administration programs never leave Canada because some secure jobs even before graduation. This can make a huge difference for someone who has a family to support.

Career Advancement

One way of climbing up the career ladder is by getting an MBA. Results from the Graduate Management Admissions Council show that 87% of people who graduated from MBA programs in Toronto in 2012 credit their education credentials with faster career advancement. This is in addition to 92% of graduates who believe such programs prepared them adequately for leadership positions.

Better Salary

On average, MBA graduates tend to earn more than their counterparts who do not have the same education credentials. A survey carried out by the University of Toronto shows that the mean base salary for an employee with an MBA is $85,200. One can even earn more (anywhere from $150,000 to $170,000) working as a consultant in the financial or healthcare industry. Even if you pay $40,000 to enroll in an MBA program, you can expect to recoup your money within a year.

Enroll As a Part Time Student

The good news for people who are working and would like to earn MBAs is they can enroll as part time students. This allows them to continue earning money to support their families and pay tuition fees. Furthermore, part time students tend to get improved pay packages after graduation. Figures published in the Journal of Education for Business show that one can get a pay rise of about 41% over his or her pre-MBA salary. By the fifth year, one’s salary will have risen by an additional 56%.

Develop Managerial Skills and Business Expertise

MBA programs in Toronto equip students with the managerial skills and business expertise required to excel in the corporate world. For this reason, people with Master of Business Administration credentials are in demand as employers seek to hire candidates with the practical knowledge that can help improve their business’s bottom line. In fact, GMAC figures show that 75% of Canadian employees plan to hire candidates who have completed Master of Business Administration programs in 2013.

Upgrading your resume with MBA qualifications can pay huge dividends in the long run. This includes benefits such as improved pay package, career advancement, getting a job immediately after graduation, as well as developing the managerial and business skills that can one sustain a long and successful career. 

Article written by Grace Stallings

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