If you want to advance your career and pursue leadership roles, one option worth considering is a Master of Business Administration (MBA) in Management program such as the one offered fully online by Texas A&M International University (TAMIU). Earning an MBA is not only a significant accomplishment, but it can also set you apart from others who want to get into management. Whether you are in a new job or are looking for the best direction to take your career, earning an MBA in Management could be the ideal step forward.
Potential Monetary Rewards
An MBA can mean a significant bump in salary — more than enough to offset the time and expense associated with obtaining the degree. According to a GMAC survey of corporate recruiters, the median starting salary employers in the U.S. planned to offer new MBA grads in 2023 was $125,000. Comparatively, the same employers planned to offer bachelor’s grads a median starting salary of $75,000, equating to a potential $50,000 annual wage premium for earning an MBA.
There are several different options for pursuing an MBA. The one that is right for you will largely depend on where you are in your career. Some students, like those in TAMIU’s online MBA program, can earn the degree in as few as 12 months.
Making Your Decision
You will need to keep many different factors in mind when deciding whether to pursue an MBA.
The first determination most prospective MBA students need to make is if they can afford to earn the graduate degree, as MBA programs can cost a significant amount of money. If the degree program and school is fully accredited, you may be able to find scholarships and other forms of financial aid to cover some, if not all, of this cost. There are also some employers that will offer tuition reimbursements to employees who decide to pursue an MBA. However, these arrangements typically require graduates to stay with the company for a certain amount of time.
Another consideration is how much time you’ll be able to commit to achieving an MBA. Again, you could get your MBA in as few as 12 months if you enroll in an accelerated online program like TAMIU’s. If you choose a part-time program, it could take closer to three or four years.
No matter what type of program you choose, it is very important you know that earning the degree will be a time-consuming process. There will be little free time — especially if you are already working. Trying to balance a career with this type of intensive schooling can be challenging.
However, an online MBA program offers more flexibility. With the online model, you can continue working while you earn your MBA. Students can complete studies anytime, anywhere. This is not only convenient but also allows you to keep making a full-time wage while earning your degree, avoiding the steep opportunity cost of traditional programs — losing out on two years’ worth of income and promotions. This opportunity cost is an important factor in determining the return on investment an MBA program can offer you.
Determining the End Goal
When choosing whether to obtain an MBA in Management, your overall goal is just as important as money and time — or even more so. Are you looking to move up in your company? Do you want to improve your skills and make yourself more valuable? Or are you looking for a new career?
Only you can answer these questions. But if the answer is “yes” to any of them, then it is very likely that pursuing an MBA in Management will be the right decision.
Learn more about the TAMIU online MBA in Management program.
