If you are considering investing in your education by studying an MBA, you must first understand the true value of earning an MBA. To determine the true value of an MBA, you need to know how to calculate yield, and you must take several different factors into account.
Perhaps you are more concerned with the quality of your work or what opportunities will be available to you once you are done? Either way, the decision to earn an MBA is personal, Thus, what are the metrics that will be measured to find out MBA value. Let’s look at some of the factors you might want to consider.
Consider the financial benefits of an MBA when calculating your ROI
The MBA ROI Calculator is a valuable tool to help you evaluate your investment in terms of absolute cost versus profit.
To understand the true scope, you will need to ask yourself questions like, “What level of salary increase can I expect from studying an MBA?” and to answer this question, your answer should depend on two things:
- where you work?
- in what field?
The 2019 Graduate Management Admission Council (GMAC™) Corporate Recruitment Survey shows that MBA graduates will continue to earn an excellent salary and notes that 56% of companies around the world plan to increase base salaries for MBA employees versus 48% who planned to increase their salary The start of the new hires for Bachelor’s and direct from the industry.
“To get a good estimate of your earnings after you get your MBA, check out this interactive salary calculator”.
In addition to increasing salary potential, an MBA degree can open up other lucrative opportunities, such as the path to executive leadership, new job opportunities, and promotions.
Many companies also provide b-school employees with instant incentives to help relieve the financial stress that comes along with investing in graduate school.
Factor your professional network gains through MBA ROI
When calculating the ROI from an MBA, you also need to look beyond the numbers and consider the impact of a strong professional network on the value of an MBA investment.
One of the strongest rewards to an MBA experience is the quality and size of the network you build as you complete your degree.
It can extend beyond your classmates and peers to include your professors, mentors, and even business leaders you meet.
Your network is very influential in boosting the ROI of an MBA, so it should be an important factor when you research or apply to schools or universities that teach you an MBA.
Ask admissions representatives about networking opportunities and the strength of professional associations in their programs to see the value of this advantage.
What other questions you need to ask admissions representatives?
Each year, the GMAC surveys thousands of b-school graduates for details of their experience and to track career progression. 75% of graduates stated that their education in management education helped develop their professional network.
One indicator that schools are placing more importance on network development is that in 2016 and 2017, the number of graduates who said their education impacted their network rose sharply to 83%.
But perhaps the most compelling reason to believe in the value of the alumni network is that more than 90% of survey respondents said they would hire their university’s alumni for career opportunities.
When it comes to effective networking, you have to understand that it’s not always about who you know, but how and where you go to meet new people.
Remember also that a strong network is often about how you can help others, not just how you can help yourself.
Being a generous member of an active professional network is often overlooked to maximize the ROI in your MBA.
Include personal priorities when calculating the ROI in your MBA
Questions about ROI in an MBA usually translate into questions about expected salaries and career advancement.
But it’s also important to think about what motivates you and what “intangibles” or qualitative factors are most important to you.
- can the type of work you do in an MBA provide you with career satisfaction and happiness beyond the highest possible salary?
- Could the network you gain be more valuable than the amount of your salary?
- does the prospect of gaining life experiences and seeing the world with an MBA make an investment any amount worthwhile?
Whatever the case, evaluate all the variables that matter most to you, then use them as part of your criteria for evaluating MBA programs.
If you want to explore MBA programs that will deliver the best ROI for you? Egyptian Cultural Center offers you MBA program from the best universities in the world, to practice the profession and open many opportunities for you.
Contact us now to know more about your MBA from “ECC” and to check the information related to the access requirements, the admission criteria and tests or the documentation you need to request access.
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