Whether you have ambitions to climb the corporate ladder or launch your own entrepreneurial journey, you may have wondered whether you should go to business school and earn a business degree.
A recent study by Harvard Business Review found that 80% of students who took online business courses felt it impacted their professional lives for the better. In this same study, 89% of students said they gained new business skills, and 4 out of 5 students said they felt it was worth the investment.
A business degree can help candidates land a desired role in an organization. Earning a business degree from an accredited educational institution shows that you have learned foundational skills in business, management, leadership, human resources, and finance. Long-term success in any business position is dependent not only on skills, but also on the emotional intelligence of the candidate, finding a good industry fit, and internal motivation and drive.
Although we often picture CEOs as bypassing college degrees and business school, the vast majority of CEOs have earned business degrees.
Should you go to business school? Only you can answer this question. However, the correlative evidence shows that many people who advance far in their corporate careers have gone to business school to earn a business degree.
Below, we look at some of the reasons that illustrate the competitive advantage you could gain from earning your business.
Get Foundational Knowledge to Start Your Career
A business degree program will give you the general skills and knowledge needed to succeed at your first jobs in the business world. Typically, students will learn business management, human resources, accounting, finance, strategic management, leadership, and marketing. Business degree programs give candidates a general understanding of how business works and how the pieces work together to make a company run smoothly.
Network with Like-Minded People
In a collegiate business degree program, you will have the opportunity to meet and network with other people who have similar goals as you. Your fellow students can become valuable connections in the business world as time goes on. The instructors for your coursework serve as mentors who pass on their years of hands-on experience.
Though business school is not the only place you can build a professional network, these human relationships are the foundation of any professional career. Take time to network with your peers and colleagues and make the effort to stay in touch with them after you graduate. Follow the people you meet online or at networking events on social media channels like LinkedIn. Focus on building relationships and don’t neglect the business contacts you make during school and in your professional career.
Learn Vital Business Leadership Skills
A reputable business program will give you the insights and training to be an effective leader. Yes, you will learn how important departments like human resources, finance, and marketing work. But on top of that, you will receive training in management skills, problem-solving, and how to communicate and collaborate with your team.
Online Business Programs Reduce the Opportunity Cost
If you get an online business degree, you can get all the training and education for a significantly reduced price compared to a traditional brick-and-mortar business school. This will help you prepare for your future without spending excessively. Check with your employer to see if they offer tuition reimbursement or have programs that will help you defray the costs of tuition.
What if You Plan on Becoming an Entrepreneur?
Contrary to what many people will tell you, entrepreneurship can carry a lot of risk, and often demands a grueling schedule, even in favorable circumstances. A recent report by Statistic Brain showed that 50% of all businesses fail in the first five years. Only 30% of businesses make it to the ten-year mark, meaning 7 out of 10 businesses will fail within their first decade.
Though our vision of a typical entrepreneur is a high school or college dropout who built a business in their garage, a report by the Kaufmann Foundation shows a completely different story. This study shows that 95.1% of founders have a bachelor’s degree, and 47 percent have even more advanced degrees. These numbers suggest that business education has some correlation to entrepreneurial success.
Though business school is not a requirement for success as a founder, having an intimate knowledge of how business works will certainly be an asset for any entrepreneur. A business degree can help provide the general and industry knowledge needed to succeed in your entrepreneurial journey. It is a chance to learn from businesspeople who have done the work and have the experience to pass down to their students. The time spent networking with other business students and instructors can also begin building the network you will need down the road.
What Should You Do to Succeed at Business School?
Before making a decision about enrollment at a business school, you should take the time to research different online business degrees, including the instructors, curriculum, and overall return on investment. There are other steps you can take to bolster your chances of success in a business program, and how much that will impact your career.
Determine Your Goals Before You Enroll
What outcome do you want to achieve by enrolling in business school? Consider your short-term and long-term goals for earning a business degree. Once you know what your goals are, work towards achieving them by learning as much as you can from your studies and instructors.
Put Time and Energy into Your Program
Showing up is merely the prerequisite, in online studies, in business, in life. The more focus and energy you put into your studies, the more you will get out of it. Business courses exist so instructors can teach you everything possible in the curriculum. There is always more to learn once you receive your foundational business education. World-class business programs will want to see their students succeed and will help students learn everything they possibly can about the world of business.
Is Business School Ultimately Worth It?
For many business school graduates, the answer is an emphatic yes. By learning skills such as leadership, management, operations, human resources, finance, and marketing, these transferrable job skills can help candidates win a position at a wide array of organizations and advance their careers. This is also a reason why business degrees are so popular, as many organizations need talented candidates to fill positions in growing companies. For graduates who go on to have a long and prosperous career in business, earning a business degree is definitely worth the time and effort.
Start Your Business Career at Campus, Formerly Known as MTI College
The Business Administration Degree program at Campus, formerly known as MTI College provides students with business training in general administrative skills and business management principles. Students will receive a diverse set of skills, equipping them to enter a successful career in business administration and management.
This program is 100% online and all coursework can be completed anywhere you have an internet connection.
If a career in business is something you are interested in, click the link below for more information today!