Is an MBA Worth It?

You’re not one to back down from your goals—you’re focused and have plenty of ambition. To fuel your success, you're considering earning a Master of Business Administration (MBA) degree. After all, it has long been considered the gold standard of business credentials.

But when thinking of the time and money you'd be investing, it’s normal to have some questions. How long does it take to get an MBA? What can you expect from a typical MBA salary? Is an MBA worth it in the long run?

Why Is Getting an MBA Worth It?

Deciding if the cost is worth the investment is a very personal decision. There is no universal answer. You’ll want to keep these considerations in mind in order to make the best decision for your future.

MBA Employment Opportunities

If you’re considering going back to school, you first need to define your long-term career goals. Does your degree align with the type of career you desire? And will it give you the advantage you need to get there?

“An MBA gives you instant credibility when you walk into the room,” says Dr. Helen Eckmann, former associate professor in the School of Business and Professional Studies at UMass Global. She adds that having an MBA is typically associated with individuals who have more authority and influence throughout their careers.

If you’d like to take on more responsibility and drive strategic business decisions, earning an MBA may be worth it for you. However, don’t think of it as a quick career fix—it’s a long-term investment in your future.

Start by identifying the types of job titles you might be interested in pursuing throughout your career. These are some of the top job titles for MBA holders in 2024:

• Marketing Managers
• Business Operations Manager
• Senior Financial Analyst
• Logistics Manager
• Financial Analyst
• Human Resources Manager
• Policy Manager
• Sales Manager
• Operations Resource Analyst

Tuition Cost and Increased Earning Potential

When evaluating the value of an MBA, it’s natural to think about the cost. You’ll want to examine whether the cost of tuition is something you’re comfortable taking on financially. You’ll also want to consider other factors, such as the typical MBA degree salary range you can expect in return.

As of 2024, the average cost of an MBA degree is $56,850, but it’s important to keep in mind that tuition rates can vary quite a bit based on the institution. For example, MBAs at many private business schools can cost more than $73,728 per year. Meanwhile, the cost of an MBA at UMass Global ranges from about $24,000 to $33,000, depending on the student and their previous credits.

Be sure to research your funding options as well. Some organizations offer a continued education incentive for employees to earn their degrees. If the cost of tuition gives you pause, remember that MBA degree salary estimates are reliably higher compared to a bachelor’s degree. In 2024, annual salaries for MBA recipients are $120,000 on average, more than 57% higher than the $69,320 average for people who only have a bachelor’s degree.

New Field Opportunities

If you’re seeking to change careers or break into a new field, this master’s degree can help you acquire the knowledge and skills needed for a fresh start.

“For me, getting an MBA was definitely worth it,” says Paige Arnof-Fenn, MBA and founder of Mavens & Moguls. “I went into finance right after college and realized I wanted to switch career tracks. Going back to school allowed me to rebrand myself, try a new area as a summer intern in marketing, gain new skills, and build my confidence.”

Arnof-Fenn says earning her degree eased the transition from finance to marketing and added instant credibility to her resume. Most importantly, it helped her find work that she truly enjoys.

Part of the value of an MBA is that it provides business acumen for professionals from other backgrounds. This was the case for CEO Cristian Rennella, who went from a computer engineering undergraduate degree to an MBA. For those with limited business education or experience, an MBA is worth it for the array of training in many areas across the business world, such as marketing, finance, and leadership.

Professional Network

Whether you are a natural networker or not, many believe one of the biggest benefits of an MBA is the connections that come with completing a program. The bonds you form with classmates can serve you and your career aspirations well.

“Students in my classes create their own networks,” Dr. Eckmann says. “People here help each other.”

Not only will your classmates and professors help you expand your professional network, but your school’s alumni base can also provide valuable career connections for years to come.

“Prospective students should look at the types of jobs graduates take and how strong the alumni network is for jobs down the road,” Arnof-Fenn advises.

The opportunity to expand your professional network is just another example of how the cost of an MBA is an investment in your future. You never know when one of your contacts could connect you to a top organization—or the job of your dreams.

Weighing the Value of an MBA

It takes effort, planning, and dedication to earn a master’s in business administration, especially for adult learners going back to school. Before you decide, make sure you define your reasons and motivations for furthering your education, and consider the adjacent benefits of an MBA aside from the diploma:

• Guidance and support from instructors who are seasoned experts
• Access to an expanded network of peers and alumni
• Exposure to new perspectives from classmates with diverse backgrounds and experiences

Is an MBA Worth It? Other MBA Success Stories

Hearing from successful MBA graduates can be helpful. UMass Global, in particular, prepares its MBA graduates to lead and manage successful organizations. Take a look at some success stories of MBA students that prove it.

Accounting Professional

When UMass Global alumna Brandi Cruz first graduated from college with a B.A. in Liberal Studies, she had every intention of becoming a teacher. But things didn’t go quite as planned.

After hearing some coworkers rave about their experiences with UMass Global, she enrolled with the hopes of earning an MBA in accounting. Cruz was surprised by the culture of support she encountered at UMass Global.

“Since starting UMass Global to now, I went from a dead-end job to an accounting manager making more than double my [previous] salary,” Cruz says. “It was nice to get the promotions and raises while I was in school because it helped show me that all this hard work was going to be worth it.”

Railroad Worker to Assistance Vice President

Terry Tate never intended to make a career out of working on the railroad, but that became his future when a friend encouraged him to take a job with Union Pacific when he was just 19. He had always planned on earning an MBA after obtaining his bachelor’s degree. Before landing at UMass Global, Tate had attempted to complete graduate school, twice. Life continued to get in the way, and both times he put his educational goals on hold.

Tate’s roles at Union Pacific ranged from checking the mechanical function of trains to managing business development. When he discovered the MBA in finance at UMass Global, he realized he could earn his graduate degree online while keeping up with the demands of his job.

“Now with the access to online education, there are no excuses to not pursue your degree,” Tate explains. “I wrote papers on airplanes and in hotels while traveling for work.”

Tate completed his MBA in 2014, after just two years in the program. He retired from Union Pacific three years later, but his dedication to the railway hasn’t been stunted. He recently started his new role as the assistant vice president of RailPros Field Services, and he remains a firm believer that you can never get enough education.

Project Coordinator to College Teacher

After graduating from college with an English degree, Donna Sayed planned on teaching. Surprisingly, she ended up in the medical device field as a project coordinator for Medtronic. But Sayed began to feel somewhat stifled in her career after just a few years.

“I didn’t know what direction I wanted to go in,” she recalls. “I felt limited in my options at work, and I always wanted to continue my education.”

Sayed was exploring her options when she found UMass Global’s MBA program. After attending an information session, she soon enrolled. The program was a far cry from her undergraduate degree in English, but she was surprised to discover all of the ways strong business acumen could help her pursue her initial dream. Sayed landed her first teaching opportunity at a local community college after graduating.

“They liked that I had experience in both business and teaching and that I had an academic background in English,” Sayed explains.

Healthcare Leader to Business Consultant

Keith Freeman’s career includes positions as a director of business development, a branch manager at a nurse staffing agency, and a top turnaround specialist for mergers and acquisitions. However, after launching his own consulting business in 2010, he felt that continuing his education would be the best way to prepare him for success.

“After 10 years of experience, I knew I wanted to pursue a master’s degree,” Freeman recalls. This led him to earn his MBA and a graduate certificate in organizational leadership from UMass Global in 2015.

Throughout his time in the program, Freeman learned about the importance of innovation, professionalism, and attention to detail. “Learning about organizational behavior and why people do the things they do was eye-opening for me,” Freeman explains. “I learned to challenge my assumptions of why people make certain decisions.” He adds that it’s empowered him to ask hard questions and get to the root of a problem.

Freeman’s consulting business, Sixth Sense Solutions, has found success working with small organizations in the assisted living, hospice, and home health field in the Orange County (California) area. He is also one of the founding members of the University of Massachusetts Global – Chapman University System Alumni Association.

So, Is It Worth It to Earn an MBA?

An MBA degree can certainly be worth it if you’re earning one for the right reasons. You’ll need to make your decision based on the personal goals and career outcomes you desire. And should you decide that the value of an MBA is worth the investment, you’ll want to select a program that will work with you—and for you.

Not sure where to start? Learn more about UMass Global’s MBA degree to learn how this program could provide you with the boost you need. Customize your degree to achieve your career goals by choosing from multiple emphasis options including accounting, data analytics, finance, health administration, and more. Apply today to get started.