An mba can be an incredibly rewarding experience. However, it’s also a significant investment of time and money. Tuition fees alone can run into six-figure sums at top schools, and many students end up taking out significant student loans to finance their MBA journey.
That said, the return on an MBA is typically strong — the degree is highly regarded by employers across industries and sectors globally. It can open doors to higher-level positions, provide access to a diverse network of peers and alumni, and improve your long-term earning potential.
Many people pursue an MBA to advance into leadership and managerial roles, or switch industry sectors. The degree can also be helpful for professionals looking to build the necessary skills and credentials to start their own business.
For those with an entrepreneurial spirit, many MBA programs offer the chance to work on a startup or join one of their incubators over the summer, giving students hands-on business experience and the opportunity to make valuable connections. And the accelerated program option introduced by Kellogg more than 50 years ago offers a more streamlined curriculum that can cut the time it takes to earn an MBA down to as little as one year for ambitious candidates with the focus and discipline.
In addition to the hard skills honed through coursework, an MBA can also be a good way to learn how to communicate effectively, which is crucial in any role. MBA graduates are often exposed to diverse perspectives through class projects that involve working with peers from different backgrounds, and by collaborating with their professors on research or case study assignments.