{"id":44147,"date":"2018-07-13T13:51:38","date_gmt":"2018-07-13T13:51:38","guid":{"rendered":"http:\/\/www.augsburg.edu\/mba\/?p=44147"},"modified":"2024-05-07T20:46:54","modified_gmt":"2024-05-07T20:46:54","slug":"is-an-mba-worth-it","status":"publish","type":"post","link":"https:\/\/www.augsburg.edu\/mba\/is-an-mba-worth-it\/","title":{"rendered":"Is an MBA Worth It?"},"content":{"rendered":"<p><a href=\"http:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-44151 size-medium alignright\" src=\"http:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured-300x173.jpg\" alt=\"Is an MBA worth it? The benefits of an MBA are worth the time and cost for people who want to work in business management, leadership roles, or start their own company someday.\" width=\"300\" height=\"173\" srcset=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured-300x173.jpg 300w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured-768x443.jpg 768w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured-1024x591.jpg 1024w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-graduate-featured.jpg 1100w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><span style=\"font-weight: 400;\">The MBA is one of the most common graduate degrees around. But when you survey the options, you wonder: is an MBA worth it?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pursuing a graduate degree is an investment in your future that will pay dividends for your career. If you work in a large organization or want to start your own company, you should consider a Master of Business Administration degree.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What does an MBA give you that other degrees can\u2019t provide? Since good business practice requires you to evaluate opportunity costs, take some time to consider the costs and benefits of an MBA.<\/span><\/p>\n<h2>Things to consider when evaluating an MBA<\/h2>\n<p><span style=\"font-weight: 400;\">When you look at different graduate school options, notice what they offer\u2014and what they don\u2019t mention. Is an MBA worth it from the specific school you\u2019re looking at? First, find out if the MBA offers you:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Financial management<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Principles of entrepreneurship and innovation<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Leadership and organization development<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Assessment tools used by professional business people for personal improvement <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Face-to-face courses taught by professors with academic and professional experience<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Experiential learning using business simulations and a field project with a local business<\/span><\/li>\n<li><a href=\"http:\/\/www.augsburg.edu\/mba\/academics\/\"><span style=\"font-weight: 400;\">International business experience<\/span><\/a><span style=\"font-weight: 400;\"> with trips to Europe and Latin America<\/span><\/li>\n<\/ul>\n<h3>What are the benefits of an MBA?<\/h3>\n<p><span style=\"font-weight: 400;\">A Master of Business Administration degree accelerates your career path, opens up new opportunities for you within your organization, and makes you more marketable as your own personal brand. An MBA degree communicates to current and future managers that you are serious about your career. <\/span><\/p><div class=\"augsb-mid-content augsb-entity-placement\" id=\"augsb-2047595299\"><div id=\"augsb-3873780070\" style=\"margin-left: auto;margin-right: auto;text-align: center;clear: both;\"><a href=\"https:\/\/www.augsburg.edu\/mba\/\" aria-label=\"Are you ready to advance your career with an MBA? Explore our MBA program.\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/970x90-Artboard-4.png\" alt=\"Are you ready to advance your career with an MBA? Explore our MBA program.\"  srcset=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/970x90-Artboard-4.png 970w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/970x90-Artboard-4-300x28.png 300w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/970x90-Artboard-4-768x72.png 768w\" sizes=\"(max-width: 970px) 100vw, 970px\" width=\"970\" height=\"91\"  style=\"display: inline-block;\" \/><\/a><\/div><br style=\"clear: both; display: block; float: none;\"\/><\/div>\n<p><span style=\"font-weight: 400;\">Why get an MBA? What is an MBA degree good for, practically speaking? At the most fundamental level, an MBA prepares and equips students to:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">identify their strengths<\/span><\/li>\n<li><span style=\"font-weight: 400;\">build their business skills<\/span><\/li>\n<li><span style=\"font-weight: 400;\">understand the finances of organizations<\/span><\/li>\n<li><span style=\"font-weight: 400;\">apply their knowledge through real work and experience<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">An <\/span><a href=\"https:\/\/www.investopedia.com\/articles\/personal-finance\/011415\/when-mba-worth-it.asp\"><span style=\"font-weight: 400;\">MBA positions you to be more successful in job interviews<\/span><\/a><span style=\"font-weight: 400;\">. The degree helps hone your skills and enhance your personal knowledge in business. An MBA empowers you to think differently, make decisions using data, and opens your mind to new possibilities. If you really want to be set apart, and be an out-of-the-box thinker who can innovate and provide value to companies and start-ups, an MBA may be perfect for you. <\/span><\/p>\n<h3>What happens to your career path when you get an MBA?<\/h3>\n<p><span style=\"font-weight: 400;\">Is an MBA worth it for changing careers or staying in the same one? If you want to climb the ladder to a new position in your company or position yourself for a job opportunity at another organization, an MBA is a significant way to prove you\u2019ve got the knowledge and practice to succeed in that new position.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Education is an investment. You put in time, effort, and money now with the anticipation that it will reap career and financial rewards later on.<\/span><\/p>\n<h3>Will an MBA mean an increase in your salary?<\/h3>\n<p><span style=\"font-weight: 400;\">Is an MBA worth it to make more money? The short answer is yes; the data supports the argument that people with an MBA will more likely earn more money over their career. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Choosing to get an MBA may unlock a more <\/span><a href=\"https:\/\/www.quora.com\/Is-getting-an-MBA-worth-it\"><span style=\"font-weight: 400;\">aggressive growth path<\/span><\/a><span style=\"font-weight: 400;\"> for your career earnings. In 10 years, you may earn significantly more salary than your career path without an MBA.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Compare<\/span><span style=\"font-weight: 400;\"> the salaries of people who hold the same job\u2014some hold only a Bachelor of Science\/Bachelor of Arts, while some have a Master of Business Administration. For example, a marketing director with an MBA earns $132,000 annually, but a marketing director without an MBA only earns $101,000. Likewise, senior HR managers and IT directors earn 12% more with an MBA than without.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you don\u2019t want to advance in a career of management, leadership, and high-level positions, the MBA is less important than work experience, developing practical skills, and other factors that influence your salary.<\/span><\/p>\n<h3>Does it matter where you get an MBA?<\/h3>\n<p><span style=\"font-weight: 400;\">Why <\/span><a href=\"https:\/\/www.timeshighereducation.com\/blog\/modern-mba-worth-it\"><span style=\"font-weight: 400;\">get an MBA from a highly rated institution<\/span><\/a><span style=\"font-weight: 400;\"> with a recognized MBA program? Without a respected school\u2019s name next to your degree, the potential benefits of an MBA decrease in the short-term and the long-term for your career and salary.<\/span><\/p>\n<h3>So is an MBA worth it?<\/h3>\n<p><span style=\"font-weight: 400;\">An MBA is worth it for people who have an undergraduate degree and know they want to work in business management, leadership roles, or start their own company someday. The MBA provides a knowledge base as well as practical experience learning alongside other ambitious students and exceptional faculty.<\/span><\/p>\n<p><a href=\"http:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-classroom-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-44152 alignright\" src=\"http:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-classroom-1-300x200.jpg\" alt=\"In an established program like the MBA at Augsburg University, get hands-on experience in a business simulation, an international trip, and work with a variety of professionals in your cohort.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-classroom-1-300x200.jpg 300w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2018\/07\/is-an-MBA-worth-it-classroom-1.jpg 500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/augsburg.edu\"><span style=\"font-weight: 400;\">Augsburg University<\/span><\/a><span style=\"font-weight: 400;\">\u2019s MBA is an affordable and respected program designed for working professionals. With the third largest MBA program in Minneapolis-St. Paul, Augsburg offers academic excellence with convenient class schedules and affordable tuition.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Why earn an MBA at Augsburg University? What do MBA students love about the <\/span><a href=\"http:\/\/www.augsburg.edu\/mba\/\"><span style=\"font-weight: 400;\">Augsburg MBA program<\/span><\/a><span style=\"font-weight: 400;\">?<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">The three concentrations of the program: finance, entrepreneurship, and leadership<\/span><\/li>\n<li><span style=\"font-weight: 400;\">A consistent, convenient schedule: one night a week for 26 months<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Small class sizes in a supportive cohort with working professionals from diverse careers<\/span><\/li>\n<\/ul>\n<h2><b>Networking for success in an MBA program<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">One significant difference between MBA programs at various schools is the community of professors and students who learn together.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The network of <\/span><a href=\"https:\/\/www.forbes.com\/sites\/poetsandquants\/2018\/02\/20\/is-getting-an-online-mba-worth-it\/#1aa13bab6369\"><span style=\"font-weight: 400;\">fellow MBA students<\/span><\/a><span style=\"font-weight: 400;\"> in your cohort may not just be supportive during the two-year length of an MBA program, but may also benefit your long-term job opportunities and professional development.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One Augsburg MBA alumnus, Tony Wagner \u201810, explained having class with the same people week after week offered more than new friendships\u2014he found 15 colleagues he could go to for advice or answers:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cEngaging the material through discussion allows our cohort to go beyond the textbook. The professors draw us in with their insight, and then we add our own experiences.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Augsburg MBA alumni have created <\/span><a href=\"http:\/\/www.augsburg.edu\/news\/2010\/10\/15\/2010-alumni-awardees\/\"><span style=\"font-weight: 400;\">companies with social impact<\/span><\/a><span style=\"font-weight: 400;\">; <\/span><a href=\"http:\/\/www.augsburg.edu\/news\/2016\/03\/28\/nic-thomley\/\"><span style=\"font-weight: 400;\">been inducted as fellow in a policy institute<\/span><\/a><span style=\"font-weight: 400;\"> in Washington, D.C.; started a <\/span><span style=\"font-weight: 400;\">publishing company<\/span><span style=\"font-weight: 400;\">; and risen to <\/span><a href=\"http:\/\/www.startribune.com\/wells-fargo-clicks-when-it-comes-to-diversity-in-hiring\/305544631\/\"><span style=\"font-weight: 400;\">district management and above<\/span><\/a><span style=\"font-weight: 400;\"> in major corporations. Why get an MBA at Augsburg like these noteworthy alumni? You have your own accomplishments to achieve and mark to make in the world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lara Dreier \u201815 MBA praised Augsburg University\u2019s professors:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\"> \u201cEveryone on the faculty was both a practitioner and a scholar, which was extremely important to me. I wanted curriculum that was both conceptual and applied, and got both in every class. They offered the support needed to be successful.\u201d<\/span><\/p><\/blockquote>\n<p><a href=\"http:\/\/www.augsburg.edu\/faculty\/boeh\/\"><span style=\"font-weight: 400;\">Professor Jeanne Boeh<\/span><\/a><span style=\"font-weight: 400;\"> teaches economics and is chair of business administration in Augsburg\u2019s MBA. She previously taught at Loyola University, the University of Illinois in Chicago, and the University of St. Thomas. She earned an M.A. and a Ph.D., is a member of the Minneapolis Star Tribune Board of Economics, and is regularly quoted in the business section as an expert in economics.<\/span><\/p>\n<p><a href=\"http:\/\/www.augsburg.edu\/mba\/contact\/\"><span style=\"font-weight: 400;\">George Dierberger<\/span><\/a><span style=\"font-weight: 400;\"> is interim director of Augsburg\u2019s MBA program. He previously worked for multinational corporation 3M, where he orchestrated strategic plans, lead significant sales initiatives, and launched product lines for 25 years. He holds an MBA, an M.A., and an Ed.D., and has taught businesses courses at Augsburg, Bethel University, and the University of Wisconsin-River Falls.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Explore the Augsburg MBA program with exceptional faculty and proven quality. Augsburg University\u2019s MBA program is accredited by the <\/span><a href=\"https:\/\/www.hlcommission.org\/\"><span style=\"font-weight: 400;\">North Central Association Higher Learning Commission<\/span><\/a><span style=\"font-weight: 400;\"> and the <\/span><a href=\"http:\/\/www.acbsp.org\/\"><span style=\"font-weight: 400;\">Accreditation Council for Business Schools and Programs<\/span><\/a>, which awards accreditation based on teaching excellence, determining student learning outcomes, and a continuous improvement model. Its student-centered teaching and learning approach, which is measured and analyzed for quality, ensures that students gain the right skills from their educational investment.<\/p>\n<p><span style=\"font-weight: 400;\">Still wondering, \u201cIs an MBA worth it?\u201d <\/span><a href=\"http:\/\/www.augsburg.edu\/mba\/contact\/\"><span style=\"font-weight: 400;\">Contact business professionals<\/span><\/a><span style=\"font-weight: 400;\"> at Augsburg University or <\/span><a href=\"http:\/\/www.augsburg.edu\/admissions\/master-of-business-administration-inquiry-form\/\"><span style=\"font-weight: 400;\">request specific MBA program<\/span><\/a><span style=\"font-weight: 400;\"> information.<\/span><\/p>\n<div class=\"augsb-after-content augsb-entity-placement\" id=\"augsb-3599556804\"><div id=\"augsb-286458231\" style=\"margin-left: auto;margin-right: auto;text-align: center;clear: both;\"><a href=\"https:\/\/www.augsburg.edu\/mba\/\" aria-label=\"Are you ready to advance your career with an MBA? Explore our MBA program.\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/Artboard-4.png\" alt=\"Are you ready to advance your career with an MBA? Explore our MBA program.\"  srcset=\"https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/Artboard-4.png 970w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/Artboard-4-300x78.png 300w, https:\/\/www.augsburg.edu\/mba\/wp-content\/uploads\/sites\/61\/2019\/12\/Artboard-4-768x199.png 768w\" sizes=\"(max-width: 970px) 100vw, 970px\" width=\"970\" height=\"251\"  style=\"display: inline-block;\" \/><\/a><\/div><br style=\"clear: both; display: block; float: none;\"\/><\/div>","protected":false},"excerpt":{"rendered":"<p>The MBA is one of the most common graduate degrees around. But when you survey the options, you wonder: is &#8230;<\/p>\n","protected":false},"author":5,"featured_media":44151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-44147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mba"],"_links":{"self":[{"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/posts\/44147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/comments?post=44147"}],"version-history":[{"count":13,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/posts\/44147\/revisions"}],"predecessor-version":[{"id":45170,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/posts\/44147\/revisions\/45170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/media\/44151"}],"wp:attachment":[{"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/media?parent=44147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/categories?post=44147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.augsburg.edu\/mba\/wp-json\/wp\/v2\/tags?post=44147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}