Are you satisfied in your current role and with your future advancement opportunities? Do you find your work intellectually stimulating, challenging and rewarding, or do you have untapped potential?
Whether you aspire to a leadership position within your company, a new role in your industry or a lateral move across sectors, pursuing a Master of Business Administration (MBA) online can be your catalyst. This widely chosen path offers you the opportunity to acquire managerial- and executive-level skills, broaden your business expertise and catapult your career in a more exciting direction as an MBA graduate.
If you are interested in changing careers, an MBA program will put you in good company. Over 50% of incoming MBA students say they are interested in a career switch.
Consider the Hiring, Advancement and Compensation Statistics
Employer demand, opportunities and compensation for MBA graduates are strong, according to the Graduate Management Admission Council (GMAC). When you calculate your potential return on investment (ROI) for an online MBA, consider these findings from the Business School Hiring Report: 2020 Corporate Recruiters Survey:
- Median starting salaries for MBA talent in 2020 hit a high of $115,000 a year, which decreased slightly to $105,000 during the second wave of COVID-19 — remaining notably higher than the median offered to direct-from-industry hires and double the median offered to new bachelor's degree hires ($55,000).
- MBA median starting salaries in the consulting industry are twice that ofthose with a bachelor's degree, rising to $145,000 during the spring of 2020.
- While employers intent on hiring MBA talent dipped from 92 percent at the start of the pandemic to 77% in the summer of 2020, 89% of employers planned to hire MBA talent in 2021, increasing from previous hiring data.
A recent Forbes survey confirms the value of an MBA in a graduate's career:
- Nearly 66% of respondents switched jobs directly as a result of the online MBA program.
- Almost half (44%) of the graduates received a promotion due to the online MBA.
- Among the different schools reporting, 90% of graduates registered pay increases following MBA program graduation.
Why Do Employers Seek MBA Graduates?
Force multipliers: According to U.S. News & World Report, larger companies expect MBA graduates to serve as a "conduit and bridge between departments," helping leaders in different areas of the business work together. MBA graduates learn the skills to utilize everyone's strengths and pull team members in the same direction, which produces a "force multiplier" effect.
Wide-Ranging business fundamentals and perspectives: Most companies and roles limit the scope of business acumen a worker can develop. Conversely, an MBA program offers the opportunity to step outside of your position and industry and learn about a wide range of critical business concepts. In doing so, you gain a broader range of perspectives for understanding business problems, enabling productive discussions, and developing solutions. MBA students graduate with solid fundamentals in organizational structure and business planning, as well as functional concepts in operations, supply chain, finance, marketing, and accounting.
Transferable leadership skills: Employers value "soft" flexible leadership skills developed with education, practice, and supervision. Capabilities like team building, management, problem-solving, critical thinking, cultural awareness and communication transfer across functions and industries, enabling you to assume greater authority. These skills allow MBA graduates to become effective liaisons between the functional areas and leaders in a company.
Industry-specific skills: Whether you want to change your role within an industry or change industries altogether, the five specialized MBA programs at Southern Oregon University (SOU) offer the opportunity to acquire skills in high demand. Leading employers help design the industry-specific programs in accounting, business analytics, marketing, finance, and healthcare administration to meet current and expected demand. These industries each offer exceptional job growth and compensation potential, while a general online MBA degree provides the versatility many graduates seek to be flexible and opportunistic.
Work While You Earn Your Degree
Each of the accelerated SOU MBA online programs is designed for working professionals to complete in as few as 16 months. Students can balance coursework with professional and family obligations and study whenever is convenient – and on a desktop, laptop, or tablet. Tuition is highly affordable at just $19,350 for both in-state and out-of-state students.
Change Requires Preparation
If an MBA online is the change agent you seek, pursue your studies with a career shift in mind. Research a variety of business functions and leadership roles in your studies and focus on the attributes of successful people in these areas. Consider career opportunities with substantial employment and compensation projections, in which the winning qualities make you an excellent fit.
MBA online graduates can expect many career opportunities, more significant financial compensation and the confidence and satisfaction that comes from success. By leveraging your capabilities and experience with a cutting-edge business education, you can advance your career in nearly any direction you choose.
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