Is an MBA Worth It?
Interest in getting an MBA is on the rise: The Graduate Management Admission Council reports that 2024 applications to graduate business school programs increased 12% over 2023 totals. But is getting an MBA worth it?
Earning a Master of Business Administration can open up new career pathways, helping professionals stand out to employers hiring for leadership roles. With a wealth of lucrative and exciting job opportunities for MBA graduates in today’s business landscape and a growing need for employees who are ready to take on the challenges and technological advancements of today’s economy, now may be an ideal time to consider earning an MBA.
What Is an MBA?
An MBA is a master’s degree earned through a graduate program focused on business administration, which is the management of all the duties and functions that keep a company operational and growing. This degree program covers many different areas of business, including human resources, marketing, accounting, project management, and finance.
An MBA degree program typically takes about two years to complete, although some programs are accelerated and can take less time. Courses in an MBA program may be offered in person or online, or in a hybrid format.
What Students Learn in an MBA Program
When students pursue an MBA, they learn essential skills that prepare them for management and leadership positions. MBA programs may contain specific courses that allow students to pursue different facets of business operations, but one of the key goals of any MBA program is to train future leaders in all aspects of business management.
Understanding what keeps an organization running helps these leaders better manage teams, tasks, and responsibilities. Students come away from the program with comprehensive and practical knowledge of functional business areas that is applicable in leadership roles at a range of types of employers, from healthcare facilities and nonprofit organizations to global for-profit corporations.
Key lessons that students learn in an MBA program include:
- How to analyze and improve an organization’s overall efficiency
- How to build and manage cross-functional teams through strong leadership and empathy
- How to foster collaboration across and within teams
- How to create and implement effective business strategies
Subjects Covered in an MBA Program
An MBA program’s curriculum is intentionally designed to cover many different topics, as business administration touches on many facets of an organization’s operations. Subjects addressed in an MBA program include:
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- Corporate finance: MBA graduates have a comprehensive knowledge of corporate finance, which helps them to better budget and manage finances in their future leadership role.
- Business ethics: Employers expect MBA graduates to be able to create business and leadership strategies built upon an ethical framework.
- Business innovation: MBA programs often include courses focused on innovation in people management, technology, and other areas that affect business, allowing MBA graduates to help foster new growth in their organization.
- Strategic marketing: Marketing is a key component of business administration, and MBA graduates have a solid understanding of how to plan and execute marketing strategies.
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- Analytics and research methods: In addition to knowing how to create business strategies, MBA graduates are skilled at measuring the strategies’ effectiveness.
- Leadership and management: MBA graduates have cultivated crucial leadership skills that allow them to develop and nurture a collaborative, high-performing workplace environment.
Deciding if an MBA Is Worth It
Most people pursue an MBA for one of two reasons. The first reason is to hone their leadership skills to move into a higher-level position on their current career path. The other reason is to learn new skills to be qualified to pivot to a new career path. In either case, pursuing an MBA can be worth it, and it can improve an individual’s chances of being hired.
The Graduate Management Admission Council’s 2025 corporate recruiters survey found that 90% of corporate recruiters surveyed plan to hire candidates with an MBA in the coming year. Nearly two-thirds of those recruiters also believe that business education is more important than ever, particularly if that education includes developing an in-depth understanding of emerging technological and business trends.
Career Outcomes for Graduates With an MBA
MBA programs enable students to gain in-depth knowledge of the various facets of business operations. An MBA can unlock the door to many different types of careers, in fields that range from finance to human resources.
Human Resources Manager
Human resources managers oversee employee relations, recruitment, onboarding, training, and offboarding. They serve as a crucial link between management and employees and ensure that employees have the support, resources, and knowledge they need to excel in their roles.
According to the U.S. Bureau of Labor Statistics (BLS), the median annual salary for human resources managers as of 2024 is $140,030. This profession is expected to experience strong growth, with the number of positions for human resources managers projected to grow by 6% between 2023 and 2033, which is faster than the 4% average growth projected for all occupations.
Operations Research Analyst
Operations research analysts identify problems in specific areas of businesses, research the problems and potential solutions, analyze collected data, compile solutions, and report their findings to stakeholders. They are skilled at helping to keep businesses running at peak efficiency.
The median annual salary for operations research analysts is $91,290, according to the BLS’s 2024 data. Jobs for these professionals are expected to grow by 23% between 2023 and 2033, which is significantly faster than the national average growth projected for all occupations.
Personal Financial Advisor
Personal financial advisors work with clients to help them meet their financial goals. They develop financial plans, provide advice on investments, and monitor and adjust clients’ portfolios as needed.
According to the BLS, the median annual salary for personal financial advisors as of 2024 is $102,140. Like operations research analysts, this occupation is expected to see strong growth, with a projected growth rate of 17% between 2023 and 2033.
Prepare for Your Future Career With WPU
An MBA can open many doors for individuals interested in pursuing a career in the business world, but not all MBA programs are the same. In the Master of Business Administration program from Warner Pacific University Online, students learn to become effective leaders with a comprehensive understanding of all the moving parts of a business.
WPU Online’s MBA program is built with working professionals in mind, offering the option to take classes fully online or through a HyFlex (hybrid flexible) format. Whether students pursue this accelerated degree program online or in person, they have access to expert faculty with professional experience, rolling monthly start dates that keep students working on their schedule, and connections to fellow students and professors through WPU Online’s Learning Communities.
Find your next big career move at WPU Online.
Recommended Readings
Master’s in Organizational Leadership vs. MBA
Marketing Specialist Career Path
Business Administration vs. Business Management
Sources:
Graduate Management Admission Council, “2024 Business School Applications Skyrocket amidst Economic Uncertainty”
Graduate Management Admission Council, “Corporate Recruiters Survey”
Indeed, “What Is Business Administration?”
Investopedia, “What Is a Master of Business Administration (MBA)?”
U.S. Bureau of Labor Statistics, Human Resources Managers
U.S. Bureau of Labor Statistics, Operations Research Analysts
U.S. Bureau of Labor Statistics, Personal Financial Advisors