What an MBA can do for your career: an explainer

The pursuit of higher education has traditionally been a path to personal and professional growth, and an MBA (Master of Business Administration) is no exception.

For aspiring business professionals, pursuing an MBA is a significant decision. Renowned for its ability to shape career paths, an MBA is more than just a prestigious degree – it’s a gateway to new opportunities, with MBA graduates finding themselves uniquely positioned to accelerate their career growth.

And for those already working in business, the allure of an MBA lies in the tangible impact it can have on existing paths, propelling careers forward in remarkable ways.

The links between an MBA and career development 

An MBA programme is purposefully designed to shape students into future business leaders. It does so by delving into various aspects of the business world – from management and marketing, to finance and human resources – ensuring MBA students develop a comprehensive understanding of how organisations operate.

This broad perspective is particularly crucial for those aiming for senior management or leadership positions because it ensures they fully understand the various elements of their businesses or start-ups, and can make informed decisions within their organisations. 

In short, an MBA builds and enhances the skills, knowledge, and connections that businesspeople need to grow and develop their careers. It does so in a number of different ways, including:

• Developing leadership mindsets. MBA courses focus on developing core leadership skills, including strategic thinking, problem-solving, and effective team management.
• Offering opportunities for role-playing exercises and simulations. These practical exercises simulate real-world scenarios, allowing students to hone their business and management skills in a controlled environment.
• Hosting guest lectures and workshops. Interaction with seasoned business leaders and entrepreneurs provides MBA students with insights into a variety of industries and business models.
• Creating invaluable professional networks. A typical MBA programme cohort will often consist of professionals from across a diverse variety of backgrounds. This creates a rich learning environment, as well as the opportunity to build a lifelong professional network. MBA graduates will also typically have alumni connections, and this access to a vast alumni network can open doors to partnerships, mentorships, and other career opportunities.
• Aiding access to top recruiters. Many business schools and university MBA programmes have strong relationships with leading businesses, helping students build on existing connections.
• Offering career support services. Career counselling, resume workshops, and interview preparation are often part of the MBA experience and can help MBA graduates secure coveted positions.
• Tailoring programmes around specialisations. MBA students can often choose specialisations as part of their degrees. For example, they may have the option to focus on subjects including accounting, marketing or digital marketing, entrepreneurship, finance, healthcare management, human resources management, project management, or supply chain management, aligning their studies to their career goals.

Other benefits of an MBA

It’s worth noting that in addition to career advancement, an MBA offers several other benefits. 

For example, an MBA can significantly enhance soft skills that are highly valued in the job market. This includes development in areas such as:

• communication skills
• critical thinking
• decision-making

MBA salary expectations

Another compelling reason to pursue an MBA is the potential for a higher salary.

The average salary for an MBA graduate in the UK is £55,000 per year, and studies by organisations like the Graduate Management Admission Council (GMAC) consistently show that MBA graduates tend to earn more than their peers without an MBA.

This earning potential varies depending on different factors, such as the prestige of the business school or university, the type of MBA, and the person’s pre-MBA work experience, but nonetheless, an MBA remains a reliable path to greater salary expectations.

Understanding the different types of MBA

There are several types of MBA programme available, each catering to different needs and career goals.

The full-time MBA is the most traditional format, offering an immersive experience over one to two years.

Part-time MBA and Executive MBA (EMBA) programmes offer more flexibility and are designed for working professionals, allowing them to balance work and study. Executive MBAs are especially suited for professionals who are further along in their careers.

Online MBA programmes, meanwhile, also offer more flexibility as well as accessibility, enabling MBA students to study from anywhere in the world around their other commitments, such as work or family.

The difference between a master’s degree and an MBA

MBAs and master's degrees are both postgraduate degrees that follow on from study for a bachelor’s degree, but they serve different purposes. 

A master's degree, such as a Master of Science (MSc) in finance, focuses on that one specific subject area.

An MBA degree, meanwhile, provides a broader overview of business and management, and aims to prepare graduates for leadership roles and management positions across various sectors and industries.

Next steps when considering an MBA

Anyone contemplating an MBA should first consider their career goals, and then assess how an MBA can help achieve these goals.

Research different MBA programmes and prerequisites – such as the Graduate Management Admission Test, or GMAT – and consider factors like the programme’s accreditation or the institution’s existing partnerships with businesses. 

Think about different MBA types – for example, when considering existing professional requirements or personal learning styles, which is more suitable: an in-person degree, or an online degree?

It can also be helpful to talk to MBA alumni, who can provide insights into how the degree can help shape career development. 

Take your career to the next level with an MBA

Open doors to advanced career opportunities with a 100% online Master of Business Administration (MBA) from St Mary’s University. These flexible MBA programmes will help you develop into a successful and ethical business leader with a cross-functional understanding of the business environment and the vision to see new opportunities.

There are a variety of study options to suit your ambitions, with a core MBA programme and the choice to specialise in one of 10 industry-aligned areas. These are in a variety of subject areas, including healthcare, accounting, project management, marketing, finance, and more.