Is an MBA worth it? MBA career outcomes

Last modified 18 August 2022
Categories: MBA
Is an MBA worth it? MBA career outcomes

Earning an MBA can help working professionals enhance their job opportunities, increase their salaries and accelerate their careers. It can provide the skills and knowledge to start a new business or confidently lead in a new executive role.

But pursuing an MBA requires a major investment of time and energy – not to mention the costs that come with studying.

So before you decide to apply, is an MBA worth it? And what are the MBA career outcomes? Read on to find out.

Why should I apply for an MBA?

Grow your professional network and collaborate with your industry’s finest

An MBA can not only expand your professional network but also give you access to a community and alumni network that could present opportunities for your future.

Growing your network is important to generate new business – whether for your employer or your own business. Community collaboration is also beneficial to discuss and challenge ideas in your industry.

Improve your brand perception and attract new customers

Potential employers’ perception of you and your capabilities is crucial to your professional success. Studying for an MBA shows your commitment to quality and helps you to attract more high-quality clients.

How much does an MBA cost?

While other online MBAs in Australia charge up to $50-100,000, AIB offers one of the most affordable MBAs in the country.

Read our blog, ‘How much does an MBA cost? MBA cost in Australia,’ here.

As an online MBA provider, we don’t have the expense of maintaining campuses and lecture theaters. This means that you won’t pay for things you don’t need. Instead, we ensure your MBA fees are properly invested in quality education, academic teams, student support services and innovative technological advancements.

Request a call to discuss MBA pricing.

Perhaps a more important question to consider is, ‘what will my ROI be?’ At AIB, 74% of our Fast-Track MBA alumni surveyed achieved their career progression goals while receiving a $33 thousand pay increase.

Work out what your ROI will be with our MBA ROI Calculator.

Before you make any financial decisions, it’s a good idea to seek information and advice from a qualified professional regarding your personal circumstances and financial affairs.

What are the MBA career outcomes?

General manager

A general manager (GM) is a senior position responsible for all or part of a company’s operations, such as generating revenue or supervising costs. Just like the name implies, the tasks a GM performs are fairly general – directing, leading and managing the heads of various departments. A general MBA will give you all the skills required to undertake this role.

As a GM, you may also be required to:

  • Create and implement new growth strategies
  • Set key performance goals
  • Hire key personnel and oversee any training programs

Seek.com.au claims that a typical salary for general managers in Australia is approximately $155,000.

Industry specialist manager

An industry specialist manager works with industrial facilities and organisations to ensure that their manufacturing processes are operating with peak efficiency.

This position is available in both the private sector and government agencies. In a privately owned company, industrial specialist managers work alongside production managers to create a successful operations process – from prototype to mass production. While in government roles, managers are required to work with other employees to give advice and technical information on their machinery.

The job duties for this role include:

  • Ensuring that all employees and equipment are working at the pace required to produce their products on time
  • Developing methods to enhance the production process to ensure that all products are of high-quality
  • Setting financial and production targets to guarantee that the company stays within its budget

Glassdoor.com claims that an industry specialist manager in Australia can earn, on average, $180,000 per year.

Chief financial officer

A chief financial officer (CFO) is the senior manager that oversees and manages the financial activities of an entire company. They are responsible for planning, supervising, and executing their organisation’s financial affairs.

Typical duties for a CFO include:

  • Developing the company’s budget
  • Communicating with the company’s banking and insurance partners
  • Advising other executives on strategic matters relating to company finances.

 

A quick search on Indeed.com will tell you that an average base salary for a CFO in Australia is $156,916 per year. 

Board director

Representing the shareholders and other stakeholders in a company, a board director sets policies and monitors how the business follows its mission, vision and goals. They also have a duty to keep certain producers and documentation in order, such as records of meetings, financial statements, and a strong risk management system.

Other responsibilities include:

  • Establishing a governance framework to ensure the company meets its obligations
  • Overseeing the organisation’s financial performance
  • Playing an active role in building a positive culture based on the public sector values and standards
  • Managing the company’s occupational health and safety policies
  • Supervising the stakeholders

Talent.com states that the average base salary for a board director in Australia is $142, 523 per year.

Senior Account Executive

Senior Account Executives are required to be critical thinkers, clear communicators and outstanding problem solvers – all the skills you can acquire through an MBA.

The job requirements for this role are:

  • Sourcing and converting new customers
  • Managing existing accounts to ensure repeat business
  • Finding new ways to increase spending from the company’s client base.

According to SEEK.com, a Senior Account Executive in Australia can earn anywhere from $70,000 – $100,000 a year.

Business Development Manager

As a Business Development Manager, your role will be to grow companies by identifying and capturing new revenue opportunities. This role requires a person with strong leadership skills and an in-depth understanding of the marketing industry.

Other responsibilities include:

  • Sourcing and converting new customers
  • Improving a company’s digital presence
  • Marketing products or services in an innovative and strategic way.

SEEK.com claims that a Business Development Manager can earn between $80,000 – $130,000 per year in Australia.

Entrepreneur

Starting your own company can be overwhelming – especially if you’ve never studied or managed a business before. An MBA can give you the skills and knowledge you need to start and grow a successful enterprise.

And the best part? An MBA can help you network with the right people and win over the confidence of potential investors.

While it can vary, Indeed.com claims that the average salary per year for an entrepreneur in Australia is $93,855.

Delivered online with continual updates, innovations and new releases, the Fast-Track MBA offers genuine flexibility, industry insights, practical skills and the support you need to achieve your goals in our fast-changing world. It’s created for people just like you. Learn more about it.

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