MBA is the new undergrad
While the trend of jobs that require a Masters’ degree or an MBA has been steadily increasing over the past decade, the recent pandemic has demanded that those who aspire to business leadership positions commit themselves to post-graduate education.
According to an article in the Economist, a bachelor’s degree is the de facto requirement in the world of business, but increasingly, it’s not enough for those who aspire to lead. While a bachelor’s degree is required for many jobs, here are a few reasons why an MBA is becoming the “must do” next step.
Raising the bar
Employers are raising the bar for the skillsets needed to succeed. These skills go beyond the staples of accounting, finance and operations to include strategic thinking and innovation – and can determine whether you sink or swim in today’s unprecedented economy.
Right now, prioritized value is being placed on skills like:
- Analyzing problems
- Dealing with ambiguity
- Navigating technological disruption
With an MBA being one of the most widely known degrees you can obtain, it can give you the flexibility to jump into any business challenge head on, armed with the tools to solve complex issues. In addition, the networking from an MBA program, regardless of the format, is invaluable due to the broad scope of perspectives you gain from fellow classmates, and the business network that you form with them.
What the data says
The findings of the 2020 GMAC Corporate Recruiters Survey suggest that, “employers remain confident about the value of graduate management talent, which is also apparent in their relatively steady hiring projections and salary trends. In sum, the skills and abilities acquired by graduate management talent during their business school experiences make them a valuable asset in supporting organizational recovery and resiliency.”
In addition, although confidence in the global economy has dropped, employers are still certain that graduate education will consistently be able to prepare future talent for the uncertain market and give them the skills to tackle the inevitable coming changes.
What an MBA can do for you
Although the cost of an MBA and its return on investment has been a long debated and studied conundrum, the skills you gain make you a valued asset to your organization, giving you a springboard to climb any ladder you choose. Also, finding a quality MBA program at a reasonable price is much easier today.
An MBA remains one of the most diverse post-grad degrees you can obtain. Regardless of your undergrad degree, it will give you a broader foundation to expand within your chosen industry, or even change course completely. It can be used in almost any industry, including those that you may not have an undergraduate degree in. An MBA enables you to make an impact and manage at a higher level even without extremely deep vertical market experience.
As the GMAC corporate recruiters survey confirms, hiring of MBAs remains steady, even in an uncertain market. So there’s no better time to plan to advance your career. And an MBA may very well be the next logical step.