Earning a Master of Business Administration (MBA) is a big investment — of time, effort, and money. You may want to know: What is the ROI of an MBA? Is getting an MBA worth it?
Demand for MBA Graduates
The value of an MBA can be high if you want to change careers or are looking for a new position. Companies hiring MBA graduates are on the rise—particularly in the consulting, finance, and technology sectors—according to a report from Statista. Over 90 percent of employers are expected to hire MBA graduates in all fields.
Not only are employers looking for individuals with an MBA, but they may also pay MBA graduates more. GMAC’s Corporate Recruiters Survey indicates that an MBA investment can mean a median starting salary 1.75 times higher than a bachelor’s degree alone. On average, MBA degree holders earn $120,000, compared to $69,320 for those with a bachelor’s degree. Specific pay will vary according to region and industry.
Does an MBA Pay Off?
What if you are already working as a business professional in an organization you love? Is getting an MBA worth it in these circumstances? An MBA investment could still be advantageous.
Gain Valuable Skills
You will gain a comprehensive education in business management. MBA programs cover essential areas such as finance, marketing, operations, and strategy.
At the University of Wisconsin MBA Consortium, our online MBA program courses reflect the cross-functional nature of the business world. This means classes combine each element of business to show how they interact. A leadership focus is built into every class, helping you develop your analytical and communication skills.
The UW MBA Consortium increases the value of your MBA by allowing you to choose elective courses that best fit your desired career trajectory in our general program. Our MBA in Healthcare Management offers further specialization.
Expand Your Network
Another reason the ROI of an MBA is high is that you can build your professional network through relationships with classmates and faculty members.
UW MBA Consortium students come from a variety of educational and professional backgrounds, states, and countries. Not only can networking lead to professional opportunities, but you will also benefit from learning with and from individuals from diverse backgrounds.
We keep class sizes small (around 25 students) so you can develop close relationships with your instructors—experts in their fields who can share what they have learned in their careers.
Develop a Global Perspective
Understanding international business practices is vital in our globalized economy. Whether you choose our general MBA program or our MBA in Healthcare Management, you will learn how to compete strategically in a global environment.
Taking a global view of business can help you lead your organization into market expansion and will give your company a competitive advantage by:
- Analyzing risks
- Optimizing supply chain
- Investing in diverse markets to spread risk and increase returns
- Gaining cultural insights on consumer behavior and preferences
- Expanding your talent acquisition efforts
- Improving sustainability and corporate responsibility