A mere decade ago, an MBA was seen as the must-have accessory in business. As the economy struggled and people and businesses had to determine how to best spend their money, the question began to surface. Is an MBA still worth it?
If you are contemplating this scenario, you might consider looking at the cons and the pros to pursuing this advanced degree. The cons often come easier to people; however, it remains unseen as to whether or not the cons are compelling enough to deter you from this esteemed path. An MBA is expensive. Companies are cutting their reimbursement programs and they are not paying as well for the same job as they did a decade ago. The debt will most likely be entirely yours once you graduate. You may be seen as too expensive by various employers if they have not posted their salary range with the job description. If you have to take out a loan, you must evaluate your salary needs upon completing the degree to be able to pay the loan back and still pay your bills.
The pros will most likely outweigh the cons for most people. One of the biggest pros is that online MBA degrees are less expensive than traditional bricks and mortar programs making it far more affordable. You will also save dozens of hours by not having to attend class in a physical classroom. Another pro is that you will still earn more money than you did without an MBA. At this moment in time, you may not earn as much as you would have in 2005; however, the economy is turning around and salaries will eventually bounce back. Some people choose degrees such as a masters of finance; however, an MBA is considered more versatile. Companies still value talent with an MBA over talent without one. As long as you are willing to compromise your salary slightly for the time being, you will be more employable with an MBA and move to the top of interview lists over people who do not possess one.
Only you can determine whether or not an MBA is right for you. At the end of the day, it is still an extremely valuable degree to possess in terms of salary advantages and your business acumen in a variety of areas including entrepreneurship. An MBA is still worth the investment.
This article is brought to you by Bond University, for more information on the best school to earn a Finance Masters degree please visit us at http://www.bond.edu.au/MFin .
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