Six Ways a Master's Degree in Business Can Boost Your Career
Whether you want to the be the CEO of a company, find a job with international travel, or earn a promotion (and a raise!), a master’s degree in business is your pathway to success. Earning your master’s in business will give you the skills, connections, and expertise needed to be successful in your career, regardless of what your personal goals entail. Read on to learn how a master’s in business can help you reach your full potential.
Gain new skills
Today’s b-school curricula are peppered with offerings that are in demand by top employers, and include a range of technical and soft skills. As a student, you’ll gain the quantitative skills you need to be successful in your future role as well as the interpersonal and managerial expertise needed to effectively lead and inspire others.
When asked to rank the most important skills recruiters seek in potential employees, recruiters identified problem-solving and working with others as two of ten of the most important skills.
Expand your network
Access to a robust and diverse alumni network is one of the most valuable benefits of earning your master’s degree in business. You’ll meet lifelong friends, discuss challenges and brainstorm solutions, and gain references from other successful b-school students. Among b-school alumni, 75 percent agree that going to b-school developed their professional network.
As a student, connections are built through consulting projects, internships and study abroad opportunities. These connections often prove lucrative; 9 out of 10 alumni, regardless of program type, would recruit a student for a job opening from their alma mater.
If you’re looking to increase your salary, are unsatisfied with your current career, or your interests have simply changed, a master’s degree in business can provide a direct path to a career change. And you’re not alone: Nearly 1 in 3 b-school candidates plan to switch industries after earning their business master’s, and among them there is a growing interest in the finance, and technology industries. Through experiential coursework at b-school, you’ll be exposed to a variety of companies and make connections in industries you may not have previously considered. Regardless of the industry or job you choose, your degree is likely to be a major factor in your career trajectory after graduation: 64 percent of b-school alumni agree that they could not have obtained their current job without their degree.
Increase your employability
In today’s job market, demand for talent is strong and companies are seeking qualified graduate management students. In 2019, 90 percent of Fortune Global 100 and 500 companies planned to hire MBA talent. While earning your degree, you’re likely to make inroads at these companies and others, through consultancy projects, case studies, and school partnerships. Furthermore, your degree can increase your employability among top employers and improve your likelihood of success in your new role. Nine in 10 recruiters agree that business school graduates are well prepared to be successful in their company.
Earn more money
Finding a higher paying job is one of the top reasons many students pursue a graduate business degree. In 2018, US companies planned to offer MBA graduates a median starting base salary of US$40,000 above those offered to bachelor’s degree holders, and US$20,000 above those for direct-from-industry hires. Furthermore, more than 7 in 10 responding companies planned to hire talent from a variety of other business master’s programs, and the median starting base salaries for those degrees vary based on industry, location, and degree type. Find out what salary you can expect with your business master’s degree.
If you want a career that you’re more passionate about, getting a business master’s degree can help you achieve it. Your degree can help you launch a nonprofit career as well as open doors to more nontraditional career paths, such as in entertainment or retail. Additionally, a growing desire to improve enterprise environmentalism leads many students to pursue “green degrees” that translate to careers in sustainability. What’s more, many degree holders seek fulfillment through self-employment; b-school provides the skills and resources needed to launch your own business. One in 10 b-school graduates is an entrepreneur, and 1 in 8 reports partnering with classmates on new business ventures.
A business master’s degree can help you gain access to new careers, more senior positions, and improved pay. If you’re ready to take the next step toward your degree, start exploring the different types of business master’s degrees.
View your options by exploring the different types of business master's degrees.