Let’s not mince words: The job market is more competitive than ever, and a competitive market demands enhanced skills, strong résumé, and candidates who have a strong competitive edge. One fantastic investment in skill development (and career advancement) is a graduate business degree, such as a Master of Business Administration.
If you’ve thought about earning your MBA, you likely already know some of the benefits of the degree. In addition to getting promotions, moving into leadership roles, and earning higher salaries, many MBA graduates benefit from improved job security, networking opportunities, and a versatile skill set for multiple industries. Read on to learn about all these benefits and more!
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What Is an MBA?
An MBA is a graduate degree designed to build skills and expertise in leadership and management, business administration, and other foundational business domains. As such, most MBA students are seeking to gain the management skills and technical expertise to become successful leaders. While many MBA graduates become managers and leaders in the business industry, MBAs are very versatile and can lead to a wide variety of careers in multiple industries.
All MBAs will cover foundational and advanced business knowledge. These core curriculum areas will cover:
- Finance and accounting for managers
- Management frameworks
- Communication
- Business ethics
- Technical business areas such as marketing, business analytics, and sustainability
Some programs also offer dedicated concentrations in areas like finance, accounting, human resources, or marketing. Or, in more flexible programs, MBA students will be able to take a variety of electives so that they get all of the courses they need for their careers.
Do I Need Work Experience to Earn an MBA?
MBAs are best suited to individuals who already have some professional experience. This is not an exclusionary measure, however, it’s a strategic choice to provide maximum value to students.
Most professionals pursue their MBAs with the intent to pivot careers, advance into high-level management roles, or earn higher salaries. Because of this, the career benefits of MBAs aren’t typically valuable to those who have recently graduated with their bachelor’s degree.
In addition, MBAs are meant to refine advanced skills, not necessarily to introduce those skills for the first time. Those who are passionate about jump-starting their management career, but don’t have much work experience, may consider an MS in Management program as an alternative.
What Are the Key Benefits of an MBA?
Different candidates will be seeking different things from their MBAs, but there are some common benefits that drive individuals toward MBAs. Some key benefits include:
- Career advancement
- Increased salaries
- Improved job security
- Networking opportunities
- Agility and versatility across industries
- Soft skill development
Master of Business Administration programs, at their core, combine real-world experience with theoretical knowledge so that graduates will be ready to tackle any business challenge.
94 percent of business school alumni rate their graduate business education as good, excellent, or outstanding.
1. Career Advancement
One of the main reasons to earn an MBA is career advancement. With MBA holders consistently being the number one most hired talent in 2023 and 2024, it is clear that MBAs are a valued credential that result in career advancement for many individuals.
A Master of Business Administration can result in career advancement in two main ways: promotions to senior-level roles in your current organization or industry, or career changes into an entirely new function or industry. MBAs may also prepare professionals to branch off to start their own businesses or other entrepreneurial ventures.
But why do MBAs result in career advancement? There are many reasons, but there are three key things that employers consider when evaluating MBA candidates vs. other candidates:
- MBAs have a great reputation. Employers generally agree that business school graduates are more competitive than candidates with microcredentials alone.
- MBAs develop important skills and expertise. Would you want to work for a manager who didn’t know the first thing about strategic management? MBAs develop skills in management, leadership, and cross-functional business areas.
- MBAs are focused on the real world. Most MBA courses are designed around case studies and real-world examples, so students will be armed with real problem-solving skills.
2. Higher Earning Potential
Higher earning potential is another reason why many candidates might seek out MBA programs, and while completing a degree does not guarantee a specific salary or raise, many MBA graduates enjoy higher salaries over the course of their careers.
For example, the US Bureau of Labor Statistics found that master’s degree holders earned a median salary of $90,324 in 2023, compared to a median salary of $77,636 for bachelor’s degree holders. MBA graduates generally earn even more than the national average, with Poets & Quants reporting that MBA graduates boast a seven-figure income over their careers after earning their MBAs.
For many MBA candidates, their degree isn’t solely about gaining skills and knowledge, it’s about gaining a competitive edge in the job market. Having a higher level of education helps business professionals unlock paths toward better paying roles and positions.
88 percent of individuals with a graduate business degree reported that their degree increased their earning power.
3. Improved Job Security
Earning an MBA is a great way to improve overall job security. MBA programs often take a forward-looking approach to their curriculum and learning formats, considering factors such as market innovations and emerging trends and technologies. As industries and organizations shift over time, professionals can keep themselves competitive by remaining mindful of how today’s edge technologies and methodologies may become tomorrow’s foundational reality.
This future-focused curriculum makes MBA graduates more versatile and adaptable, enabling them to leverage widely applicable skills in future career moves. At the University of San Francisco, for example, the online Master of Business Administration has a dual focus on innovations like artificial intelligence and traditional business methodologies, so graduates can pursue careers in cutting-edge industries while knowing that they can always find a place in traditional business management roles.
4. Networking Opportunities
One of the key benefits of master’s in business administration programs is networking opportunities. In an MBA program, students will be able to network with diverse peers, supportive alumni, expert faculty, and industry leaders.
- Peers and Alumni: Networking with peers and alumni in an MBA program mirrors the real-world business environment, where professionals are constantly communicating with fellow professionals of different backgrounds.
- Faculty: Faculty are able to share their expertise with students and bring their valuable experience in business administration to the classroom.
- Industry Leaders: MBA students will connect with key business leaders in their community and beyond through experiential learning opportunities such as networking events, case studies, and real-world projects.
Online degree programs often get a bad rap of being isolating, but this couldn’t be further from the truth. Online MBA programs still provide great networking opportunities, and in some ways online programs are actually better for networking. This is because an online MBA might have an even more expansive class profile due to the flexibility attracting professionals that differ in terms of:
- Education
- Work experiences and career goals
- Industry backgrounds
- Future career interests
- Stage of life
- Geographic region
- Race, ethnicity, gender, and age
5. Versatility Across Industries
MBAs typically focus on very advanced, broadly applicable business and leadership knowledge rather than hyper-specific skills meant for one industry or function. This is a key strength of MBA programs: they strengthen professionals’ knowledge in critical business domains that are versatile across functions, departments, and industries.
Cross-functional knowledge is key beyond the classroom. Once MBA graduates start using their degrees in their careers, they will quickly realize why MBA curricula were designed with broad application in mind: real-world business challenges can only be solved with interdisciplinary knowledge. MBA graduates will be armed with a versatile skill set that can be used in business, finance, marketing, tech, manufacturing, healthcare, and more, making them highly sought after by employers.
6. Skill Development
An MBA looks fantastic on a résumé and makes a notable impact on your career, but those aren’t the only reasons to earn one. Through targeted courses, MBA students will hone their skills that are critical to managing cross-functional teams and leading organizations in a variety of industries.
- Leadership is the core of the MBA. In fact, while many degrees can teach you to be a manager in specific industries, an MBA is the only degree that teaches you to be a true leader that transcends industries. Strong management and leadership skills can be used in every industry and at every level — from small technical teams to executive leadership of international organizations.
- Strategic thinking skills are about more than developing business plans or market strategies. While these things are of course important, strategic thinking skills allow professionals to consider the long-term effects of situations. In an MBA, you’ll learn to develop operational plans to meet the goals of your organization.
- Adaptability is more than just being able to change course when a plan doesn’t work out, it’s the difference between leveraging opportunity in changing markets or succumbing to business failure in the face of challenges. With an MBA, you’ll gain expertise in business strategy and operations so that when trouble arises, you can course correct effectively.
Advantages of USF’s MBA Program
The University of San Francisco offers an online Master of Business Administration program designed to equip students with both foundational business knowledge and advanced management skills. USF’s MBA emphasizes the innovations that are driving business today, providing advanced education in sustainability in business, as well as managing in a data- and AI-driven environment.
Even before they graduate, students are excelling in the business world while benefiting from a flexible work-school-life balance. USF’s MBA emphasizes experiential learning, with collaborative client-based projects that are immediately applicable to your career, help to build your portfolio, and develop your interpersonal skills.
About the Online Master of Business Administration From the Masagung Graduate School of Management at the University of San Francisco
The University of San Francisco’s online Master of Business Administration program is designed for working professionals who aspire to lead innovation across industries. Our flexible part-time program combines asynchronous coursework, live sessions, and experiential learning projects to provide a comprehensive education in business, with customized electives in the areas important to your career.
The curriculum is designed around six themes: global and ethical perspectives, sustainability, AI focus, creative problem solving, leadership dynamics, and communication skills, ensuring that graduates will be prepared to succeed as change-makers throughout the course of their careers. Students benefit from the expertise of faculty who are industry leaders and gain practical experience through project-based learning opportunities with renowned companies.
USF provides our students with personalized career support, networking opportunities, and access to a global job portal, extending beyond graduation. The MBA equips students with the skills and knowledge needed to become transformative leaders in today’s rapidly evolving business landscape.
Learn more about the Master of Business Administration by downloading a brochure, or start your application today.
