Whether you’re considering moving into management roles in your current career, seeking to transition to a new industry, or launching your own business, an MBA can open doors and help you gain a competitive advantage. But the cost of pursuing an MBA can easily run into six-figures, and students often require a combination of scholarships, fellowships, loans and employer support to make their dream possible.
mba programs offer students valuable hard and soft skills that can be applied across industries, and many students report increased salary growth after completing their studies. Many schools also incorporate a variety of learning experiences, from scenario-based teaching that encourages students to work collaboratively in teams to international study tours that provide a glimpse into different business environments around the world.
Many people are drawn to an MBA because they want to accelerate their career growth or pursue leadership positions. But the degree is not a magic bullet, and it takes initiative from the start to thrive, according to experts.
In one popular class on power and politics, professor David Pfeffer teaches his MBA students about how to maintain control of an organisation by maintaining “multiple overlapping roles”. While it’s unlikely that Donald Trump or Xi Jinping took this advice, the lessons of navigating hierarchies are still relevant to modern-day business. One of Bennett’s goals is to pivot into biopharmaceuticals, and she knows that the resources available in business school will be instrumental in facilitating her transition and equipping her with the leadership skills she needs 10, or even 20, years down the road.