In today’s global business world, the MBA is a valuable asset for professionals of all kinds. Many consider it a way to accelerate their career paths by giving them access to more management positions and the potential for significant pay bumps. Others pursue it to change careers altogether, whether by switching industries, functions, or locations, or even all three at once. “The MBA is a powerful tool to help you shape your next move,” says Virginie Fougea, the global director of admissions and financial aid at INSEAD. “Whether you plan to start your own business or simply want to progress in your current role, it’s a great degree for people who want to gain more control and responsibility.”
The type of MBA you choose depends on your personal goals. For example, an international management degree might be best if you’re looking to work for a multinational corporation that operates across multiple countries, while an entrepreneurship degree is popular among those who have a unique idea for a company they’d like to launch. Another option is a general management degree, which teaches students how to be flexible when the economy or industry shifts unexpectedly and provides an all-around effective business arsenal.
When considering whether an MBA is right for you, experts recommend starting with your career plan and weighing the nonfinancial benefits alongside the cost and time commitment. For instance, an MBA can give you more clarity about what matters most in your professional life or help you uncover an aspect of your career that’s been missing, such as working on a social issue you care about. mba