For many professionals, getting an MBA seems like the next logical step to advancing their career. The benefits of an MBA are applicable regardless of your industry or area of professional focus. However, some individuals may wonder if it’s worth it to pursue an MBA, given the commitment and expense involved. For those who plan to work in a managerial capacity, with financial institutions, or who have entrepreneurial aspirations, an MBA can help build the leadership skills required to succeed in these arenas.
The benefits of graduating with a Wharton MBA, specifically, are numerous. Over 98% of Wharton MBA graduates are offered jobs and nearly 94% accept job offers at graduation. In addition to a wider range of job opportunities and increased earning potential, a Wharton MBA can help you connect with a diverse group of professionals and become part of an extensive global alumni network.
The Benefits of an MBA
Completing an MBA program demonstrates a commitment to learning, improving, and applying skills that can help a company succeed. Additionally, professionals with MBAs feel a greater sense of confidence in their marketability, as well as the wealth of information they can bring to various endeavors. These are just a few of the advantages of getting an MBA.
1. Greater Awareness of a Global Market
Earning an MBA puts you in close contact with other students from around the world who have different work experiences and perspectives on the global economy. In addition to learning from professors, MBA students can expand their knowledge of other industries in the U.S. and abroad.
2. Improving Communication Skills
Effective communication is a fundamental skill required for professionals to succeed. While communication may be considered a “soft skill” compared to “hard skills” such as constructing a P&L model, it’s no less valuable. An MBA can help hone verbal and written communication skills, allowing you to successfully convey concepts to different people at different levels of an organization to ensure everyone is able to work together toward a common goal.
3. Expand Your Professional Network
Earning an MBA makes you part of a global network of nearly 100,000 alumni, giving you access to respected and intelligent professionals you may not have otherwise had a chance to connect with. Beyond being part of a broader community, you’ll also have the opportunity to build relationships with other professionals in the classroom and beyond.
4. Increased Job Opportunities
In a highly-competitive job market, an advanced degree can help set an applicant apart from their peers. From energy to consumer products to start-ups, an MBA can be an asset in any industry. Employers typically look to hire or promote a candidate with an MBA because they have skills in marketing and finance that others within the organization may lack. This allows them to hit the ground running with various initiatives and help their company increase profits.
5. Better Time Management
Earning an MBA requires juggling extracurriculars alongside a challenging course load — not to mention other personal and professional pursuits. Getting an MBA can help you manage your time effectively, which is not only an in-demand skill among employers, but a valuable life skill, as well.
Questions You Might Be Asking About an MBA
If you’re considering getting an MBA, you likely have a lot of questions about the benefits of earning an MBA, as well as the process involved. Here are some of the most common questions students have when considering an MBA.
How does an MBA help your career?
An MBA can enhance your marketability as a professional and increase the quality and quantity of job opportunities. Over 98% of Wharton MBA graduates are extended full-time job offers. An MBA also helps you build business leadership skills, as well as a professional network. Wharton graduates are part of an extensive alumni community — over 99,000 strong in 153 countries. Learn more about the value of a Wharton MBA.
How does an MBA affect your salary?
One of the benefits of getting an MBA is an increase in earning potential. Why get a Wharton MBA? The median annual base salary of Wharton MBA graduates was $150,000 in 2019 and is consistently the highest across all MBA Programs. Those who earn an MBA can expect to make 28% more than those without an advanced degree.
What does an MBA teach you?
Professionals who graduate with an MBA will learn business fundamentals such as leadership, communication, and critical thinking and analytical skills. Delving further into the curriculum, a Wharton MBA balances a core curriculum that focuses on accounting, ethics, finance, marketing, and macro/micro economics with electives that help build leadership skills, including networking, student conferences, and advanced student projects.
What can you get an MBA in?
There’s more to an MBA than just the advanced degree itself. At Wharton, there are 19 MBA majors, including Finance, Entrepreneurship & Innovation, Health Care Management, and Organizational Effectiveness. Students whose interests do not neatly fit into one of Wharton’s existing 19 majors have the opportunity to craft an individualized MBA major tailored to an interdisciplinary path of study.
How much does an MBA cost?
The cost of a two-year MBA program varies, however, the estimated total cost for a Wharton MBA is $224,948. Depending on whether you opt for room and board on-campus, the cost can be approximately $44,000 less. Veterans and current members of the military may also be eligible for additional awards benefits to offset the cost of tuition. Similarly, exceptional students may also qualify to be part of the Wharton Fellowship Program. Learn more about tuition and financial aid at the Wharton School.
When should you get your MBA?
There is no right or wrong time to get your MBA, rather it’s up to each individual. Most MBA students have at least five years of experience in the workforce before committing to an MBA program. The Wharton MBA application process takes place at three different times during the year, making it convenient for students to apply to the program. Visit our page to learn more.
Get answers to more frequently asked questions at the Wharton School’s Admissions FAQ page.
Why Get an MBA at Wharton?
While an MBA can open new doors for you, a Wharton MBA comes with several distinct advantages. For over 130 years, Wharton has held a reputation as “the finance school.” Today, Wharton upholds that reputation, leading the way with innovative courses and research surrounding global finance, alternative investments, and other groundbreaking avenues in the world of finance. Beyond reputation, there are several other reasons to choose a Wharton MBA.
1. An Extensive Worldwide Alumni Network
Not only will you learn alongside a select group of professionals in the classroom, but you’ll also expand your professional network to include the 100,000 Wharton MBA alumni around the world in 153 countries. You’ll gain a broader, more interconnected perspective on business issues and how they impact the global economy.
2. Increased Earning Potential
Wharton MBA graduates can expect a median annual base salary of $150,000 and can expect to earn nearly $3 million over the course of 20 years. Over 98% of those who earn a Wharton MBA are offered a job, and alumni currently hold positions at Fortune 100 companies and/or renowned organizations such as Apple, the Bill & Melinda Gates Foundation, DuPont, IBM, General Mills, Morgan Stanley, and more.
3. Lifelong Learning
The lessons learned while earning a Wharton MBA extend beyond the time you spend in the classroom. In addition to a world-class education, Wharton MBA students are able to take part in a wide variety of extracurricular activities, interacting with current students and alumni and fostering deeper relationships. Wharton also offers best-in-class career resources for MBA alumni, supporting you at various stages throughout your career and helping you stay connected.
