Some events in life are truly life changing. Marriage. Children. Purchasing your first home. Starting your own business. But getting an MBA can be just as transformative—and might even help you achieve some of your other life-changing goals. While we can’t predict the future, we can pinpoint 10 ways that getting an MBA will no doubt change your life:
- An MBA could be the culmination of your formal education. Your undergraduate education, work experience and professional accomplishments took you this far, but you may be wondering what else you can achieve. Getting an MBA might be the next logical step in your educational and professional progression.
- Your networking and people skills will improve. In a world that emphasizes technical skills, 91 percent of companies cite the importance of “soft” skills, according to LinkedIn’s 2019 Global Talent research.1 An MBA program forces you to improve your non-technical skills, such as persuasion, teamwork, collaboration, communication, listening, positivity, problem-solving, empathy, critical thinking and conflict resolution.
- Your network will change, too. Getting an MBA means joining other driven people in pursuit of something great—which means that your talented classmates are now a cohort that you’ll be lucky to count on as part of your network. Your new network also includes well-connected professors and successful alumni, not to mention representatives of companies recruiting from your program. At William & Mary, your new network also includes the Executive Partners—a group of more than 100 senior business executives from more than 20 different industries. An MBA introduces you to a whole new world of successful people that you can learn from, and who want to learn from you. Sharing generously within this new network will pay dividends over a lifetime.
- You’ll have a whole new level of confidence. If you are even thinking about getting an MBA, you probably already have a pretty high level of confidence. But once you begin presenting your work and defending your ideas in classes with a bunch of other impressive, successful MBA students, you’ll begin building the kind of poise, tenacity and self-assurance that will make a real difference when it comes to workplace negotiations or presentations to clients. Your MBA arms you with the confidence you need to gauge a situation and to respond appropriately every time.
- You could earn more money. Generally speaking, the more education you have, the greater your earning potential. That’s true for recent graduates with an advanced business degree in the U.S., where the median annual base starting salary U.S. employers plan to offer new MBA hires is $115,000, more than double the median for new bachelor’s degree hires ($55,000) and the highest ever recorded in the U.S. when adjusted for inflation, according to the 2019 Business School Hiring Report.2 Getting an MBA will likely put you on a leadership track for a higher salary with your current employer or open up new opportunities to earn a bigger paycheck somewhere else.
- New career opportunities will open up. Speaking of new opportunities, getting an MBA gives you an entry into the corporate world like none other. You may want to keep working for your current employer, but an MBA can help you rise through the ranks faster: More than 60 percent of William & Mary Online MBA alumni received a promotion within three years of graduation. Companies you may have never heard of—or who you only dreamed of working for—recruit newly minted MBAs.
- You might discover a new passion. Getting an MBA is an opportunity to feed your intellectual curiosity and fill in gaps in your skill set. Maybe you currently have a strong accounting background, but your managerial experience is lacking, or you have enviable tech skills but want to become a skilled negotiator. An MBA can empower you to explore new avenues that can take your career in exciting new directions.
- You will discover new ways of thinking. The world is a complex place. Our fast-paced digital era demands flexibility, creativity and critical-thinking skills. Getting an MBA can teach you how to think systematically and logically, unlocking your strategic mindset and elevating your leadership abilities.
- Your powers of negotiation will shift... Getting an MBA prepares you to negotiate big things that matter. Whether you are at the bargaining table with your employer to discuss your salary, getting ready to ink a big deal from a new customer, or attempting to raise money from investors, an MBA can equip you to analyze and execute agreements that benefit both you and your partners.
- No matter what happens, you’ll always have your MBA. If the events of 2020 have taught us anything, it is that sometimes the unthinkable does happen. Life can be unpredictable, but getting an MBA is an achievement that nothing—and no one—can take from you. An MBA gives you instant and lasting credibility. And that is truly life-changing.
Take the next step
If you’re ready for a change in your life, you are ready to explore the Online MBA from William & Mary.
1. Retrieved on August 27, 2020 from LinkedIn, https://www.linkedin.com/pulse/linkedin-2019-talent-trends-soft-skills-transparency-trust-bersin/
2. Retrieved on August 27, 2020 from Global Newswire, https://www.globenewswire.com/news-release/2019/05/28/1853214/0/en/MBA-Salaries-in-the-US-Highest-on-Record.html