The old adage, "It's all in who you know" is doubly true for those in the field of business. Promotions and office relationships are often very political and based on personal relations just as much, if not more, than the strength of one's work ethic. Therefore, the ability to network is an invaluable benefit of earning your MBA. Through group projects and professors who have already established themselves successfully in the world of business, you have the opportunity to foster friendships that will result in priceless advice, information in different markets and job opportunities when you graduate.
You don't have to work on Wall Street to achieve a salary boost with an MBA degree. In any field an MBA degree will justify a promotion to a managerial position over those who don't have one. In the 2002 Global MBA Survey conducted by Graduate Management Admissions Council's (GMAC), the average salary before an MBA was earned was $48,000. The average salary from the first job after the MBA was earned was $75,000, a 56% increase. Depending on the school you attend, your field, and the job you gain after graduation, you can earn as much as six figures right out of school.
If your current career is not satisfying to you, you also have the opportunity to explore new interests with an MBA. You will be provided with practical knowledge that is applicable to real-life management that can help you switch careers entirely. Studies in MBA programs are getting increasingly specific, which will help you to narrow down your interests. You have the opportunity to work in emerging fields such as brand management or e-commerce.
Many people dream of being in business for themselves, but have no idea how to make a business idea into a reality. An MBA program will not only provide you with necessary knowledge, but also with the correct skills to perform the necessary steps to work for yourself. From writing a business plan to getting loans to taking your company public on the stock exchange, you will be well equipped to start your own business and make it a success.