The decision to pursue a postgraduate degree is usually an important and often expensive one. With every passing day the cost of college education across the globe is rising constantly which is compelling most students to take out heavy student loans. However, still many students feel motivated to pursue higher education as it helps to enhance your employability and earning potential. I believe an MBA degree can certainly open up great new avenues for boosting your career and fetch you excellent opportunities. But is an MBA worth the time and money?
As B-schools now
charge ridiculous amount of tuition fees, pursuing a traditional MBA
is often not feasible for most students. However, studying an online
MBA top up programme can enable you to acquire a business degree in a
faster and more affordable way. Let's take a quick look at what an
MBA can do for you and what is the best way to earn it....
Does an MBA guarantee high income?
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The financial gain
after earning an MBA degree can either be exciting or discouraging,
depending on your determination. A recent 2014 study conducted by
Poets & Quants revealed that while some MBA graduates got jobs
with lucrative salaries, many others with an MBA landed jobs that
offered salary lower than bachelor degree jobs.
Work experience matters
A survey conducted
by PayScale analysed median salaries of more than 34,294 MBA
graduates with different specialisations. The study revealed that 1.5
per cent of the respondents had gained below 1 year of work
experience and claimed to get a national average salary of around
$50,453. Moreover, 1.9 per cent of participants had 1 to 4 years of
work experience with an average salary of almost $58,092. An
additional 34 per cent reported to make an average of $98,252
annually with ten to nineteen years of experience.
The study clearly
shows that your earnings will depend not only on your MBA degree but
also on the amount of your work experience. This is why pursuing an
online top up MBA can be more beneficial for you as it allows you to
study and work at the same time. You can easily choose to do a full
time job in a relevant field and yet study business at your
convenience.
However, it should
also be noted that your average salary will also vary depending on
the type of job your are employed in. Finance managers earned an
average salary of 93,978, while financial analysts made $60,704
yearly. On the other hand, chief financial officers and marketing
directors had a national average salary of $128,201 and $118,654
respectively. So now that you know your field of work greatly
influences your earnings, you can simply seek out relevant work
experience opportunities in your desired field while pursuing your
top up MBA programme through online or distance learning.
Fast track your degree
One of the biggest
advantage of an online MBA top up course is that apart from being
highly affordable, it allows you to fast track to the final year of
an accredited MBA programme from associated B-schools and
universities and allows you to earn your MBA degree without investing
excessive time and money. Coupled with the experience that you will
gain while studying business online, your MBA degree will help you
get the best job opportunities available globally and earn a
lucrative salary.
With news of more
than 2.5 million Nigerians currently residing in the United Kingdom
for academic and professional opportunities, online MBA top up
programmes might be the ideal solution to keep our boys home and
encourage them to add to the national economy instead of going
abroad.
The Bottom Line
No matter what, I
cannot deny the fact that an MBA degree will lead to better
employment opportunities and higher salaries. Even though extremes of
high and low average salaries have been observed, but it only
pertains to a small segment of MBA graduates. So if you are planning
to study business, then this is the right time for you to go online
and earn your MBA degree the smart way.
What do you think
about MBA? Feel free to share your thoughts and ideas with me by
commenting below.
Article Source: bit.ly/1NdBO8h
