Grad school is usually limited to postgraduates. The majority being 20-somethings on track to enter careers that require advanced level degrees, or maybe just hoping to coast by a little longer before entering the real world. Most programs don’t consist of 30-something executive level professionals — but that’s exactly who fills the Executive Master’s of Business Administration classes. EMBA students are on average 32-38 years old and have already spent years in a managerial role. How does a successful manager benefit from going back to school? Here are a few of the reasons why.
To finally get that promotion.
Climbing the corporate ladder can often lead to a plateau. You reach management level and you come to a point where a promotion would put you in a whole new weight class. Getting your superiors to see you at that level is not always easy. They value you as an employee but may not be ready to move you up. Earning a Master’s of Business Administration gives you new cards to bring to the table when negotiating a promotion and shows your employer you are dedicated and ready for the next step in your career. 37% of graduates expected a promotion after completing their EMBA degree. Going back to school carries a lot of weight when proving your worth for a promotion.
Gain better job security.
Unemployment may not be the media buzz of the moment but it still exists, and job security is something that everyone worries about at one time or another. Earning an advanced level degree, such as an Executive MBA, can increase job security by helping you to be more competitive and qualified. 95% is the employment rate for business professionals with an MBA. Graduating from a Master’s of Business Administration program instantly makes you more employable as you become a better asset to your company.
Expand leadership skills.
The workplace is not stagnant. Culture and technology are constantly changing, shifting the way employees think and do work. By ignoring the evolution that takes place, managers will lack the ability to run a productive team. Going back to school for an MBA brings benefits such as improved leadership skills and the opportunity to adopt new management techniques. Executives that want to stay relevant in a fast paced workforce see grad school as a way to provide their team members with better leadership.
Get a raise.
Earning more money takes time, and not everyone is patient. Some companies only award raises at milestones (such as a one or five year anniversary) or alongside promotions. In this scenario, if an employee feels they are not being properly compensated for their time they may take a position with another company rather than wait out a raise. While job jumping to reach the salary you want can work short term, it doesn’t look great on your resume — and is also kind of exhausting. A better alternative is warranting a raise by going to grad school and completing an advanced business degree. Some companies reward employees for completing an MBA or EMBA by offering a bonus incentive, and many executives choose to cease this opportunity rather than quitting.
Become an entrepreneur.
Business professionals don’t just go back to school to move up within their company, many do so to gain the knowledge and skills to start one of their own. The average MBA graduate will see annual business revenue of $128,569 just one year after completing their degree. Rather than go into business ownership blindly, an MBA teaches an entrepreneur how to build from the bottom up and manage a successful company. Strategy, planning and profit are all topics that are taught in an MBA program and can help entrepreneurs tackle the common struggles that come along with a startup.