Have you spent some time in your current role, and are looking to advance your career? For those that are looking to advance up the corporate ladder, an MBA can often be seen as a way to enhance your professional skillset in the workplace, as well as develop skills that are business-critical in today’s corporate world.
For most professionals, the acronym MBA can often represent a foreign idea, and something that’s mentioned in television and movies. Let’s demystify the MBA, and learn about how an MBA qualification can advance your professional career.
The History of the MBA
The MBA has a storied history, going back nearly one hundred and twenty years. In the early twentieth century, businesses were looking to upskill employees – at the time, a transition was taking place in the manufacturing sector – as machines were introduced into the workplace, new strategies needed to be devised, and managers needed a greater understanding of business best practice in areas such as management and finance.
The first MBA, more well-known as the Masters in Business Administration, was introduced by the Harvard Business School in 1908. In the decades since, many tertiary institutions around the world have developed their own MBAs, focussing on the skills that modern-day professionals need to succeed in the workplace.
The Modern MBA
As time has passed so has the skillset learned by professionals undertaking an MBA. While early professionals may have learned skills that would enable them to understand the transition to machine-based manufacturing, modern MBAs enable professionals to understand the role that advanced technologies bring to the workforce.
A modern MBA professional can be exposed to a variety of specialty fields, such as innovation, technology, design theory, and management. These are often embedded within industry learning, enabling MBA learners to learn skills that are relevant to today’s industries.
As a result, a modern MBA can be incredibly useful for those that are looking to take the next professional step in their careers.
Benefits of an MBA
An MBA can be incredibly beneficial, as it is often an internationally recognised qualification. Whether you’re looking to enhance your skills, or learn new ones, having global recognition can be incredibly helpful in pursuing work both domestically and abroad.
Holding an MBA qualification can also offer a large boost to your salary. In fact, a recent study conducted found that some Australian graduates experienced salary growth of more than 50%, upon completion of their MBA.
Ultimately, an MBA is more than just money. You’re also investing in developing your own professional skillset – which you can then take into both your personal and professional life. Skills such as time management and leadership skills are incredibly useful in many corporate environments and even other areas such as coaching and mentoring roles. As a result, the MBA is often seen as the pinnacle of business education.
Career Options With an MBA
Fortunately, there are a wide variety of career options available upon completion of an MBA. The skills provided can be incredibly beneficial across a variety of fields, whether you choose to pursue internal or external career options.
In fact, there’s no set outcome from an MBA – students can pursue any number of professional outcomes. For example, you may wish to start your own business venture. If so, an MBA can provide you with critical skills in management and design theory that enable you to create the products and services of tomorrow.
Alternatively, if you’re currently working in a corporate role, an MBA qualification may allow you to advance within an organisation. For example, some modern graduates are becoming leaders in areas such as project management and digital transformation.
Holders of an MBA can find that it can be an incredibly rewarding professional experience. Steeped with historical significance, the modern MBA is a highlight of professional education and an excellent pathway for anyone that wants to do more with their business studies.
If you’re looking to go further in your corporate job, or even perhaps pursue something new, consider talking to a career advisor about a Master’s in Business Administration, and the potential opportunities it can lead you to. It may just open new opportunities for you.
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