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MBA In Finance: The Post-Financial Collapse Opportunities

April 15, 2014 2:43 pm0 commentsViews: 112
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finance-mba-post-collapseWhile most people were overly cautious during the years right after the financial collapse, industries around the world have slowly built themselves up again and so the opportunities that were once so prominent are starting to rise to the fore once more. While an MBA in finance was a risky option only just a year ago, this has changed and many people are jumping on board to try and enhance their career prospects within this industry.

Financial Rewards

One of the reasons many people are signing up for an MBA in finance, or indeed any sort of qualification at all is because of the financial rewards associated with them. More highly qualified individuals tend to earn higher salaries, and when jobs become scarce, they are also some of the first to be hired by companies looking for employees.

There are financial risks associated with enrolling in an MBA. Many professionals leave their jobs in order to pursue this, and these courses can get pretty expensive. As Nunzio Quacquarelli writes;

“Paying for the course is probably the scariest thought when considering taking an MBA. Leaving a job, moving country, leaving behind family and friends are manageable. But can you justify spending 30,000 or more on your MBA? Where will you find the money?”

These fears could end up making people think twice about applying for a place as an MBA student, but thanks to the rebuilding that has been done in many industries throughout the country, individuals are more able to meet with their financial responsibilities. What this means is that they are often able to take on bigger expenses, such as an MBA.

The financial rewards associated with an MBA in finance means that individuals will be more likely think of this as an investment into their future, rather than as an expense. This is especially true if individuals are able to find a much more lucrative position once they have completed their studies. As Jennifer Lewington states;

“The earning power of an MBA degree is often a selling point for business schools, especially when they do well on international rankings.”

Obtaining a Loan

There are many students who are now opting to apply for a loan as a way of paying for their MBA studies. In the post-recession era, obtaining loans was relatively easy, but individuals also found themselves taking advantage of them far too easily. Ultimately, this ended up making it difficult for them to repay their loans. In a post-recession era, individuals are much more careful about the loans they take out, and what is more, they tend to pay much more attention to the finer details associated with the loans. This means that it is much more unlikely they will end up being taken advantage of.

Limitations in financing are also forcing individuals to think outside of the box when it comes to financing their MBA. Some people, for example, are approaching private businesses to find out whether they fund these sorts of ventures.

Hard Skills

While an MBA in finance might allow individuals to benefit from higher salaries and a certification from a potentially prestigious institution, individuals need to keep in mind that these aren’t the only benefits associated with this sort of qualification. One of the things that many people tend to forget about are the hard skills that they will learn as they go about obtaining their qualification. The experts at Ask Men explain;

“An MBA is basically a document that certifies you have a general competency in all the major functional management roles you’ll find in the modern corporation. Hard skills taught include accounting, economics and marketing operations training, while soft skills you’ll pick up are abilities in leadership, communication and teamwork.”

These are skills that can be used in a variety of settings, including in a professional’s personal life, and they can contribute to a person’s career for decades to come.

Another great benefit of an MBA in finance is that this sort of qualification will introduce students to a wide variety of people, including lecturers, other students and faculty staff. These individuals can contribute to a person’s professional career in numerous ways. For this reason, individuals tend to make as many connections as possible within this setting, particular because MBA qualifications tend to attract those who are serious about the world of business.

Interpersonal Skills

People skills are assets in the world of business. Whether a professional is looking to make friends, get clients or connect with coworkers, the skills learned within an MBA program will go a very long way in helping professionals achieve this. Interpersonal skills often mean the difference between closing a deal and failing to close it, and it is something that some professionals struggle with on a regular basis. Experience is one of the fastest ways to combat deficiencies in this area, and this is something that MBA students will get plenty of when they enroll in an MBA.

Broaden Your Career Prospects

Individuals will not only have the opportunity to increase their overall salary by completing an MBA; they will also have the chance to broaden their career prospects altogether. Professionals with this qualification to their name are usually able to apply for management positions. Some opt to fulfill advisory roles, while others choose to become CEOs or CFOs of large companies. The variety alone makes this sort of qualification very appealing.

In a post-collapse era, many companies are still trying to find their feet, while others have hit the ground running. It is important for professionals to remember that while an MBA might not be necessary, if they are looking to take their career to the next level, it might be just what they have been looking for. Anyone looking to take advantage of these opportunities will want to make sure that they find out as much as possible about the MBA so that when the time comes for them to make up their minds, they will do so with all the appropriate information in hand.