4 Benefits of the MBA According To AIB Graduates
It’s no secret that the successful completion of the Master of Business Administration (MBA) holds a number of positive results for graduates. From opportunities such as a promotion or increased salary, to a holistic understanding of business – there are a variety of great benefits that can be obtained from completing an MBA programme. After chatting with several AIB graduates, the below four benefits were those most commonly experienced upon graduation. If you’re looking to undertake the AIB MBA, read below for some of the potential results that you could enjoy.
1. Increased confidence and knowledge
Many MBA students already possess detailed business knowledge due to years of experience, but when it comes to confidence in explaining why things are done a certain way, they are lacking. As explained by Paolo Trevisan, Finance Manager at Hilton Worldwide, “I gained a lot of confidence and knowledge through doing the MBA and this has been important for my success”. The achievement of receiving the MBA is one which boosts confidence in the workplace, and assists in self-assurance when it comes to decision making.
2. Career progression
One of the major benefits of the MBA experienced by many students is a promotion or salary increase. For Milton Burrell, CEO of Good Price Pharmacy Warehouse, undertaking the MBA saw him go from a General Manager to a CEO within a matter of months. “I wanted a ‘C’ level role and in order for me to take this next step in my career, I knew an MBA would be necessary,” he said. The MBA cements your overall business understanding, and show employers you are ready to take that next step.
3. A competitive edge
The MBA isn’t an everyday degree therefore the knowledge gained throughout the programme is likely to give students a competitive edge over others. As explained by Bradley Hughes, Franchisee at Harvey Norman, “It’s important to distinguish yourself from others in your field. In the field of retail, few people have qualifications, so I think the MBA gives me a clear advantage”. The great thing about the MBA is that it can give you this edge over so many different fields – whether you’re operating in retail or hospitality, it can help you take your business to the next level.
4. Holistic understanding of business
With students undertaking study in all major business capabilities, one of the greatest benefits of the MBA is the diversity of knowledge gained. It allows businesspeople to learn in areas other than their own, and gain an understanding of how each area operates within a business. ARFF Training Delivery Manager at Airservices Australia Andrew Werner reiterates this point in saying “The MBA has given me a more holistic overview of things like human resources and finance, outside of the scope of what I knew”.
What do you think?
It is clear that there are a number of benefits of the MBA, such as increased knowledge, confidence and career progression. I am interested to hear from any current or past students, to learn of the number one benefit you have experienced thanks to your MBA journey. Comment your views below and join the conversation!
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB.