Why Get an MBA Degree?

MBA stands for Master of Business Administration. Many professionals in the field of business strive to earn an MBA as their highest-level degree as it provides an opportunity to hone a deep understanding of business leadership, from finance, to technology, to people management. Because it covers so much ground, an MBA degree can be extremely flexible and its versatility makes it a good option for those who want to pursue management roles.

An MBA is a type of master’s degree, but it is different from other specialized master’s degrees that you can earn. An MBA is primarily a business-oriented degree. You can choose a specialization such as finance or accounting, but most classes in an MBA degree program will focus on broader business concepts.

By contrast, a specialized master’s degree focuses primarily on the subject matter of the degree, along with a few business courses. MBA students who wish to become accountants, for example, may prefer to earn a Master’s Degree in Accounting, while those who want to get into the accounting side of business management may prefer to earn an MBA with an Accounting Specialization. These career paths may not apply to you, but consider following this general rule: If you want to delve deeply into a specific field, you may want to consider a specialized master’s degree. If you are primarily focused on business with a general interest in a certain field, you may be better served by earning an MBA.

Every school sets its own admission requirements for an MBA program. Some schools may require a personal interview, letters of reference, a minimum GPA or standardized test scores.

Here at DeVry University and our Keller Graduate School of Management, for example, applicants must meet the following graduate admissions criteria:

Exactly how long it takes to earn an MBA depends on your course load, if you take any breaks while completing the program or whether you attend full-time or part-time. If you have earned an undergraduate degree in a qualifying business or technology field, you may be eligible to waive up to 3 courses¹ in our MBA program² here at DeVry, allowing you to complete your MBA in as little as 10 courses¹ or as few as 2 years and 2 months.³

An MBA can be a smart choice if you are looking for a well-rounded business degree that hones in on, or specializes in, a particular field. At DeVry, our MBA specializations include:

Whether you choose a specialization or not, earning an MBA remains a highly flexible choice. But what can you do with an MBA degree? Why is earning an MBA the right choice for many people? Here are several reasons to enroll in an MBA program.

One of the biggest reasons to pursue a graduate degree is to open up the potential for new job opportunities. Perhaps you have your eye on a specific job title, or maybe you want to take on more responsibility for shaping the direction of your current company. An MBA could help you better meet the requirements of employers or corporate recruiters who are looking for candidates with advanced degrees for certain roles.

If you’ve been in the same industry for a while, you might be ready for a change. But how can you prove to a potential employer in a new field that you have what it takes? Earning an MBA can help you develop new skills to highlight on your resume. Choosing a specialization in your area of interest could be especially beneficial, since you will have the chance to gain insight and learn skills that may be required for that industry. Whether you want to get into marketing, finance or health services, for example, a specialized MBA can help you fill in knowledge gaps about a particular industry.

Even if you’re not planning a major career change, you might be interested in advancement or a shift in focus to a new area of your current field. Perhaps you’ve discovered that you have a knack for data analysis, or you might have some ideas on how to improve global supply chain issues within your industry. Earning an MBA can help you sharpen your skills, potentially preparing you to pursue a more niche position.

The Bureau of Labor Statistics (BLS) notes that, in general, those with a master's degree tend to earn more than those with only a bachelor’s degree. While there are no guarantees, earning your MBA could help increase your future earning potential.

The BLS also cites that while upper-level professionals typically need a bachelor’s or a master’s in their field of work, they may also have an MBA as well.

Employers often search for team members who have strong soft skills. These are non-technical skills that make use of an employee’s interpersonal abilities in the workplace.

An MBA program can be an excellent place to develop your soft skills, which can include, but are not necessarily limited to:

Humans are built to grow and evolve as we learn new things. If you’ve been settled in a career for a while, you might feel bored. Or you may simply be curious about topics such as leadership theories, project management or entrepreneurship. Earning an MBA can help you expand your understanding of new concepts and skills, allowing you to become more well-rounded, both as a person and a professional, which can help boost personal satisfaction.

Technology evolves at an incredible pace. To remain competitive, management professionals need to keep up with the ever-changing needs of their organizations. As you progress through your MBA program, you’ll have the opportunity to work with various technical or analytical tools, if applicable to your field. Getting this type of hands-on experience is a great way to show employers that you’re ready to hit the ground running in your role.

While earning an MBA may seem like the logical next step on your education journey, you might be wondering “should I get an MBA in my area of interest”? Here are a few examples.

If you’re in tech, there are many reasons to consider earning an MBA. While it is true that some companies might only require a bachelor’s degree for certain positions, an MBA with a Specialization in Information Systems Management, for example, can teach you many useful skills. These include, but are not limited to:

An MBA can be a beneficial degree to have when working in the business sector. If you’re considering starting your own company, a Specialization in Entrepreneurship will help you take a deep dive into what makes companies successful throughout their lifecycle, from conceptualization through implementation. Whether you want to start your own company or simply grow your business skills, this degree can help you prepare to pursue your career goals. Things you’ll learn include:

As the healthcare industry becomes more complex, data-driven and reliant on technology, it needs forward-thinking leaders who are capable of understanding both the big picture and the finer details. An MBA with a Specialization in Health Services can help you learn how to become a strong, well-rounded leader in this ever-evolving industry. You will also learn more about:

Like anything else in life, earning your MBA depends on your goals and your reasons for pursuing the degree. Both general and specialized MBAs can help you gain specific skills and knowledge that can help you prepare to pursue goals such as a higher-level role at your current employer, focusing on a more niche area within your field or changing industries entirely.