If you’re serious about business as a major or career, you’re no stranger to weighing costs, risks, and rewards. So when it comes to a master’s degree, you may be wondering: Is an MBA worth it? What are the benefits of a Master of Business Administration degree, and do they outweigh the costs?
An MBA brings several career opportunities, such as leadership preparation and hiring consideration. Many who earn the degree see a significant return on their investment in their education.
If you’re wondering, “Why should I get an MBA?” keep reading. Earning an MBA just might be a wise decision for you.
MBA classes approach business topics at a more advanced level than undergraduate classes. For example, an undergraduate marketing class may teach students basic marketing principles, while an MBA marketing class teaches students how to oversee the marketing sector itself. In other words, the degree prepares students for business leadership, rather than simply business operation.
Michael Pahl, president and owner of Winona IT, earned his MBA online at Grace College this spring. After graduating from Grace in 2012 with his bachelor’s degrees in business administration and management of information systems, he founded a successful information technology company based in Winona Lake. This year, it was named one of the best “small companies” to work at on the Indiana Chamber’s annual list.
Pahl felt that completing an MBA would augment the knowledge and experience he had acquired as a business owner.
“I wanted to go back to school with what I had learned and further my understanding of business theories and best practices,” said Pahl.
According to Pahl, one of the benefits of an MBA is that it can reduce some of the guesswork that drives certain business owners’ decisions, providing clarity as to how particular business moves perform and why.
“When you start a business, you mostly operate off of intuition,” said Pahl. “The MBA gives you insight into why certain things work and why they don’t. It teaches you how to better manage your human resources and finances, providing more certainty to those things that are trial and error for most entrepreneurs.”
Even if you’re not a business founder like Pahl, the degree qualifies you for higher-level positions than an undergraduate college degree. This doesn’t mean you can’t reach those positions without an MBA, but you’ll most likely receive consideration for them at a much younger age with the master’s.
An MBA is often required for you to enter what’s considered a C-level position, such as CEO (Chief Executive Officer), CFO (Chief Financial Officer), and COO (Chief Operating Officer). Even in lower-ranking positions, an MBA will likely provide you extra hiring consideration.
“I receive resumes every day,” said Pahl. “When I see an MBA, it is a differentiator. The master’s degree is a way to separate from the pack.”
And years down the road as an experienced business owner, you may look to mentor those just entering the field. An MBA will equip you to do so well.
“It’s really important for people who have had success in starting and growing a business to teach the next generation of entrepreneurs,” said Pahl. “That’s what I feel called to do in the future, and an MBA equips me to teach at a higher level.”
The Grace MBA provides exemplary business education from accomplished faculty, and it does so entirely from a biblical perspective.
If you haven’t earned a bachelor’s degree yet but are considering an MBA down the road, Grace College’s accelerated program was created with you in mind. The four-year program allows you to earn an undergraduate degree and an MBA at the same time. You’ll retain your undergraduate financial aid through the entire program, and the MBA classes are entirely online.
Joel Close graduated this spring with his bachelor’s in accounting and his MBA, and he appreciates the career experience it provided him.
“I was able to graduate in four years with not only my bachelor’s in accounting and MBA but with 150 credit hours,” said Close. “This allows me to take the CPA exam after only four years of school, which has been a great bonus for me!”
Third-year student Jim Mahoney, who is currently completing both his bachelor’s in accounting and his MBA at Grace, enjoys the convenience and flexibility of the online program.
“Since the courses are online, they don’t get in the way of other classes or commitments,” said Mahoney. “I also take them during the summer and can get the classwork done around my schedule with my summer job.”
According to Mahoney, the program’s faculty have been helpful and supportive as he has pursued a more advanced degree.
“Every professor has been extremely helpful in responding to my requests,” said Mahoney. “They answer specific questions thoroughly and respond promptly.”
Whether coupled with a bachelor’s degree or earned on its own, an MBA brings a wealth of business opportunities. Where will it take you?
Learn more about the online Master of Business Administration degree, and explore Grace College’s School of Business.
