Benefit of an MBA
Benefit of an MBA
The benefit of an MBA is not something that can be easily measured because there are multiple elements that contribute to the cost and return of the MBA experience that cannot be clearly defined. Here I make an attempt at answering the question of whether an MBA is valuable, as defined by me. Cost can be defined as the time commitment, forgone extracurricular activities, and monetary cost of tuition. The benefits of the MBA program can be attributed to professional network, skills and knowledge enhancement, and financial rewards. To determine the value of an MBA, only quantifiable elements of the cost and benefit were considered. The measureable cost of the MBA was compared against the measureable benefit of the MBA.
I gathered data on my MBA expense, pre-MBA earning, and estimated post-MBS earning. With the known factors, the potential increase to my salary is approximately 15% and my cost/benefit breakeven point would be at 4.62 years. The point at which the benefit begins to outweigh the cost can be defined and the numbers would lead me to conclude that from a financially quantifiable standpoint, an MBA program does create added value.
Additionally, data recorded by the U.S. Department of Education have demonstrated that the number of working professionals with an MBA degree have increased at an average rate of 28% from 1970 through 2009 (1). This indicates that an MBA program is indeed recognized by many organizations therefore the growth in demand for the MBA degree. Having an MBA not only increases the graduate’s personal skill sets and expand their network but it will also position them in a competitive position as compared to other working professionals and open doors to career paths in management that might not otherwise be available.
I believe that in order for me and my cohort to make the most of the MBA experience, social norms would be needed so that we can understand the framework that we’re working within. In my
The benefit of an MBA is not something that can be easily measured because there are multiple elements that contribute to the cost and return of the MBA experience that cannot be clearly defined. Here I make an attempt at answering the question of whether an MBA is valuable, as defined by me. Cost can be defined as the time commitment, forgone extracurricular activities, and monetary cost of tuition. The benefits of the MBA program can be attributed to professional network, skills and knowledge enhancement, and financial rewards. To determine the value of an MBA, only quantifiable elements of the cost and benefit were considered. The measureable cost of the MBA was compared against the measureable benefit of the MBA.
I gathered data on my MBA expense, pre-MBA earning, and estimated post-MBS earning. With the known factors, the potential increase to my salary is approximately 15% and my cost/benefit breakeven point would be at 4.62 years. The point at which the benefit begins to outweigh the cost can be defined and the numbers would lead me to conclude that from a financially quantifiable standpoint, an MBA program does create added value.
Additionally, data recorded by the U.S. Department of Education have demonstrated that the number of working professionals with an MBA degree have increased at an average rate of 28% from 1970 through 2009 (1). This indicates that an MBA program is indeed recognized by many organizations therefore the growth in demand for the MBA degree. Having an MBA not only increases the graduate’s personal skill sets and expand their network but it will also position them in a competitive position as compared to other working professionals and open doors to career paths in management that might not otherwise be available.
I believe that in order for me and my cohort to make the most of the MBA experience, social norms would be needed so that we can understand the framework that we’re working within. In my