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Before deciding to go back to school, you may first want to evaluate what additional education can do for you. You will most likely be taking out loans to further your education so you’ll want to make sure that it’s the proper payoff for you in the long run. Here are a few of our considerations when looking at what an MBA can do for you:
1. Bigger Salary
Many MBA’s can make $80,000 or more. In consultancy or finance, one could expect a salary of $120,000, depending on their background. That is practically twice as much of what you can expect to earn with an undergraduate degree. IF that were the case, you could estimate the student loan payments being MORE than worth it for you.
2. Improving your network
Some business schools are specifically KNOWN for their networking potential. That is what often differentiates TOP MBA programs from the rest. Your network is EVERYTHING. Ever heard the term… “it’s not WHAT you know but WHO you know?” It’s somewhat true. The person that gets the job often knows someone in the job. Whether you’re venturing into entrepreneurship or climbing the corporate ladder, the right MBA program can put you in the right circles to help you move ahead.
3. Better career opportunities
Plain and simply put, the more education you have, the more likely you are to obtain a high-level management position. Some estimate that 70% of MBA grads hold a senior management or higher. This, of course, comes with a higher salary. Executive MBA programs are aimed at sculpting those who are ALREADY in the professional world and seek to obtain those upper management positions. These types of programs can be a excellent choice for those individuals as they are usually formatted with class schedules that meet the needs of working professionals.
4. Improving your skillset and knowledge base.
Yes, of course. This is a no-brainer. And probably the first thing you thought of when considering going back to school… “What are those leadership techniques and organizational skills that will put me ahead?” Again, some schools are better than others. Research MBA programs and choose one that is on the cutting edge of technology, as well as social research. Being a leader is no longer about telling people what to do. It’s about guiding an organization together and inspiring the people around you to work stronger and better. Good schooling can help you learn these skills.
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