Let’s talk about the benefits and returns on pursuing your MBA. If you are trying to determine whether or not take the plunge towards furthering your education let’s take a look at some stats.
You may find this report helpful: MIT SLOAN MBA 2018-2019 EMPLOYMENT REPORT
The report breaks it down to show monthly and annual salary ranges based on criteria such as geography, industry and job functions. This can be useful in helping determine the cost vs return ratio on your investment.
In an article posted by Finacial Samurai, they mention the cost of getting your MBA can range anywhere from $50,000-$100,000. Read the full article here
Your decision for pursuing your MBA may be based on a number of factors that include cost, time and overall job satisfaction.
In order to make an informed decision each of these factors need to be weighed. You may also have your own criteria for weighing your options that are not mentioned here. It can feel overwhelming to be at the crossroads of a major career change. However,
Take into consideration things like your work-related values. For example, make a list of all the things you deem important when defining your ideal career. Also, think about what your lifestyle goals are. Do you like going to the office every day? Or do you prefer the freedom of a more flexible work day and having the opportunity to change up your work environment on the regular. These may seem like trivial bits of information but when it comes to pinpointing your career path they will give you a well-rounded idea of the direction you should take. Once these questions are answered you will have a more informed platform to base your decision on whether or not to pursue the MBA.
Myers Briggs developed a career assessment tool called the “Myers Briggs Type Indicator” it is based on the theory of personality created by Carl Jung. It is an interesting resource to look at, perhaps it will help you answer some important questions around your career path. Take a look at the assessment here
The bottom line is pursuing an MBA requires a substantial commitment in both time and money. Take every opportunity and use all the resources at your disposal to make an informed decision.
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