Based on a 2005 study by Herzing University, students who obtain a master's degree are able to earn about $13,000 more annually compared to students with bachelor's degrees. While earning potential is higher, students must also pay more to get an MBA, as it usually takes two additional years of education to attain. In addition to the money, getting an MBA takes more time. This additional time spent in school takes away time spent in the work force.
Students who have an MBA have more career options open to them. Before deciding to pursue an MBA, though, it is important to consider what career you are seeking. Many careers do not require an MBA and render the additional education, time and money less useful than in other fields. Other jobs, such as high-ranking management, human resources, marketing and financial positions usually require an MBA.
Getting an MBA often helps other professionals to see you in the same light as themselves. Since getting an MBA takes more time, effort and dedication than getting a bachelor's degree, it also represents dedication to prospective or current employers. It is also important to consider what school you attend when seeking out an MBA. Ask professionals you respect and search online to locate the best business schools. Some employers may consider the school an important factor when looking at applicants with MBAs.
Consider your personal situation before deciding whether to pursue an MBA or where to get your MBA. If you already have a bachelor's degree and are comfortable in your life, it may put unnecessary stress and strain on your life to go to school away from where you currently live. If you already have a job you enjoy that fulfills your financial needs, you may not want to take a cut in hours or risk losing the position to get your MBA.