MBA Interview Advice

The most recent survey of our members found that:

1. The average MBA salary was $102,000
2. 70% were either on the board of directors or senior managers
3. 1 in 4 expected to run their own business in the future
4. MBA graduates are employed mainly in general management, marketing, corporate strategy and IT.
5. Around 25% of graduates are female.

The benefits of traditional MBAs have perhaps been less affected by time. The confidence of knowing that you are as familiar with concepts as those trying to ‘blind you with jargon’ is as valid as ever, as is the ability to be constructively critical of consultants or others purveying ‘solutions’ to management problems.

It is still important to be able to use management tools and techniques – from a basic spreadsheet to a sophisticated knowledge management tool – to communicate clearly, whether in writing or when making presentations, and to analyze a problem thoroughly before suggesting a solution.

But added to these, an MBA today is likely to give you a range of ‘softer’ skills and understanding. You are likely to develop your team working skills, to gain an understanding of why people in organizations behave as they do, and to become more aware of the problems stress can cause.

Understanding the basic functions in an organization and the main features in the environment that impact upon it is still vital for effective strategic management. Exposure to the latest thinking in management will always be an asset.

This is just the tip of the iceberg as far as career opportunities for MBA graduates are concerned. Having an MBA degree gives you countless job opportunities, mostly in top level positions, and can help to further your career tremendously.

Once you have estimated the cost of your MBA, you need to assess the benefits of an MBA in terms of increased salaries, better wages, and more career opportunities to evaluate the monetary value of your MBA degree!

Most degrees are obtained with the purpose of advancing your career prospects and job opportunities. The same is the case with an MBA degree; the only difference being that an MBA degree is considered as the most valuable post graduate degree in the world and has exciting career opportunities. People take the MBA program in order to further their careers in their current jobs or to get a better job on the basis of their MBA degree.

Most MBA programs regardless of the major focus will provide you with training in basic business principle needed by any business manager including, corporate finance, economics, strategic planning, marketing, basic accounting, etc. However, if you know which career field you are interested in, selecting a specific MBA focus will allow you to specialize and better prepare yourself for your career. This means you won’t just learn the basis of corporate finance, but rather advanced corporate, investment finance, financial accounting and financial markets which will make you much more marketable as a financial analyst or banker.

Advancing Your Career

Whether you’re a real estate agent, an ER doctor, an engineer, or an editor for your local newspaper, a graduate business degree can prepare you to move into a managerial position within your field.

Whether you decide to pursue a general MBA or a specific specialization, earning an MBA in any field is an excellent option – especially for students hoping to land excellent jobs once they graduate. Research indicates that individuals with an MBA tend to move up the promotion ladder much quicker than those without the degree. Not only that, but most employees possessing an MBA on average earn more than their lesser-educated contemporaries. These statistics should come as no surprise given the fact that MBA graduates are in high demand at multi-million dollar companies throughout the world.

Financial Value of an MBA

An MBA degree from one of the top business schools in America could set you back by up to $100,000. This is by no means a small amount and is indeed one of the largest investments that you are likely to make in your life. So it is necessary to evaluate the value of an MBA, strictly from a financial point of view as well. So you need to ascertain the return on investment on the amount that you are likely to incur in pursuing an MBA and see if it is financially valuable to you.

Calculate all the costs that are involved in pursuing an MBA, namely application fees, program fees, tuition costs, interest on any loans, cost of materials needed, travel costs related to training etc, test fees, and any other miscellaneous costs that you may incur. Once you have estimated the cost of your MBA, you need to assess the benefits of an MBA in terms of increased salaries, better wages, and more career opportunities to evaluate the monetary value of your MBA degree.

To get a head start on putting together your MBA applications, check out MBA Application Bootcamp today.