A Master of Business Administration (MBA) program develops problem-solving, business and leadership skills. MBA programs are designed to promote critical thinking and help students to become confident and knowledgeable leaders in their fields.

Information from the Bureau of Labor Statistics (BLS) states that full-time employees with a master’s degree made 19% more than the average salary of those with a bachelor’s degree. Earning a general MBA has many benefits, some of which extend beyond your profession and into your personal life. An advanced degree can increase self-confidence, boost your credibility in the workplace, increase strategic thinking, provide better job opportunities and yield transferrable skills across many disciplines.

Advantages of Having a General MBA Degree

MBA programs have always used current events to teach students how to manage crises. With the COVID-19 pandemic, the world has suffered a significant economic disturbance, and MBA programs are rising to the challenge of learning from the global health crisis. Students are advised to develop broad skills, innovate, manage change and learn how to assist employees through difficult times. Since change is a constant in the business world, MBA students benefit when they learn from real-world experiences and navigate real-life challenges.

An online general MBA from Longwood University develops a broad knowledge base while developing hands-on experience to develop critical thinking skills about business problems. This type of MBA provides a solid foundation for leadership and business concepts that stretch beyond just one profession. In addition, a general MBA can prepare you to work in a variety of different fields.

Here are three advantages that graduates have in today’s post-COVID economy:

  1. Skill development and business knowledge. General MBA graduates fine tune a broad base of knowledge in business, management, leadership, communication and problem-solving practices. This type of business aptitude can translate to various careers without being locked into one industry — an advantage in today’s interconnected business world.
  2. Ability to succeed in various careers. Many people lost their jobs or decided to change professions during the COVID-19 pandemic. A general MBA allows graduates to succeed in a different career path, even with experience in another realm of business. A general MBA degree gives graduates unequaled versatility that allows them to move across different career disciplines at any point in their career and grow their professional network.
  3. Understand what it takes to be an entrepreneur. In today’s post-COVID economy, some MBA graduates have decided to launch their own businesses. The knowledge base gained with a general MBA will prepare and educate those ready to be their own boss. Graduates will understand how to develop a business plan and manage business operations, growth, accounting, marketing, management, supply chains and leadership.

Career Options and Earning Potential with a General MBA

Some career options available to those with a general MBA include IT manager, financial manager, HR manager, financial advisor, chief technology officer and management analyst. These careers are in high demand in the current economic climate, and according to June 2021 data from PayScale, the average annual salary for professionals with an MBA is $90,177. A general MBA develops transferrable skills that students can utilize across many business career options.

Learn more about the Longwood University’s online General MBA program.

Sources:

PayScale: Master of Business Administration (MBA) Degree

U.S. Bureau of Labor Statistics: Measuring the Value of Education