Top Ten Reasons to Get an MBA

By Sarah Stevenson

1. Advance in your current career. A Master of Business Administration prepares you for a managerial role in your current field, whether or not you're already in the business world. Medical professionals, publishing professionals, real estate agents and tech support specialists are among the many who can benefit from an MBA degree and attain a more rewarding position in their existing career.

2. Change to a new career. The flexibility of today's MBA programs provides prospective students with a myriad of options, from accounting to project management to international finance. If your current career doesn't suit your interests and abilities, a graduate business degree can jump-start your job prospects in a new direction and give you valuable and marketable management skills.

3. Increase your earning potential. According to GMAC's Global Management Education Graduate Survey for 2009, graduates in all salary ranges studied enjoyed significant increases in salary after completing an MBA program. Those earning $37,000 or less annually prior to receiving their degrees benefited the most, earning an average of 164 percent more per year in 2009.

4. Start your own business. An MBA program imparts the skills and knowledge necessary to be an entrepreneur and bring a new business to life. If you have the creativity, people skills and drive to start a business, a good graduate program will train you in critical areas like business planning, venture financing and small business management.

5. Get paid to go back to school. Employees with MBA degrees can increase a company's efficiency and save money in the long run. Sending a worker back to school on the company's dime is one way to get more MBAs in the workplace. Employers view it as an opportunity to retain a good employee who can then bring back advanced skills and more current knowledge of the marketplace. Meanwhile, the employee benefits from paid training and subsequent increases in salary.

6. Fast-track your business savvy. Over a relatively short period of time, an MBA program can teach you business knowledge, technical abilities, management skills and problem-solving strategies that can take years to glean from on-the-job learning.

7. Grow your networking resources. One of the most valuable benefits to attending business school is the opportunity to network with fellow students, alumni and professors. These professional relationships can serve you well throughout your career, providing essential mentoring and contacts.

8. Increase your job security. The industry-specific knowledge and skills gained via an MBA degree program translate directly to increased job security. An MBA graduate is not only a desirable candidate at entry level, but also possesses the expertise to branch out or advance within an existing career.

9. Become a valuable asset in a variety of fields. The general skills learned in an MBA program apply to a multitude of careers and even life situations. Innovation, interpersonal dynamics, technological savvy—these are all valued by potential employers looking for graduates with the expertise to grow business and improve efficiency in any field.

10. Help change the world. An MBA degree can be used to improve social, environmental and economic standards in private and non-profit businesses throughout the world. From corporations such as Yahoo! to charitable organizations to the United Nations, MBA program graduates can help establish healthy and socially conscious business practices.