In 2022, the Graduate Management Admission Council (GMAC) released the findings of a longitudinal study aggregating years of data from surveys of graduate-level business school alumni such as online Master of Business Administration (MBA) grads. According to GMAC, over 90% of survey respondents rated the value of their degree as favorable.
The professional value of an MBA degree is clear. But the personal value and rewards graduates can gain from an MBA are also important and substantial. Here are some benefits and skills you can cultivate while earning an online MBA that will enrich your life long after the workday has ended.
Become a Savvy Communicator
Everyone has at least one story about their inability to respond appropriately in a stressful situation. Sometimes it’s in a meeting with your boss, a debate with your spouse or a frank discussion with the cable company. While challenging at times, expressing yourself clearly and actively listening to others are central to effective communication. These skills are essential for both personal and business interactions.
Imagine having the cognitive tools to get your point across calmly and coherently while under pressure. The Lamar University online MBA helps you develop those skills by sharpening your critical thinking and providing opportunities for interaction with your professors and your classmates. In fact, GMAC’s 2022 Corporate Recruiters Survey found that “having strong communication skills” topped the list of why corporate recruiters have a high degree of confidence in business school graduates.
Understand Your Financial Portfolio
Any business industry leader will appreciate an MBA graduate’s ability to understand finances. Someone else will, too: your future self. With courses like Foundations of Finance and Financial Management, Lamar University ensures you can comprehend the budgeting, dividend policies and analytical techniques necessary for making monetary decisions. These topics will provide you with the knowledge and financial literacy needed to organize your own finances and plan for a comfortable retirement.
Develop Modern Skills
MBA studies can help you learn skills that have become crucial to modern life, in and out of the office. For instance, Lamar University’s MBA coursework in data-informed decision-making, enterprise resource planning, business intelligence and digital marketing helps students develop advanced competence with the many complex technologies that drive modern business. The technological skills and digital literacy you can develop through these studies is also important for success in personal matters, given the ever-increasing role technology plays in life.
Build Lifelong Relationships
Great professors do more than teach a subject. They stretch minds, encourage innovative thinking and guide with constructive criticism. Their lessons stick with you through life and, if you’re lucky, you graduate with a handful of mentors.
Strong mentor relationships can be extremely important for success in one’s career and personal life. Building relationships with your professors can help you make the most of your learning, during your education and beyond.
Plus, even though you’re studying for an online MBA, you’ll still meet other students virtually. Email, LinkedIn and other social media platforms allow relationships to thrive without face-to-face contact. These relationships can be just as important as those you form with professors.
Whether with professors or fellow students, the relationships you form through an MBA can be immensely impactful. Additionally, the extended networks of professionals, friends and colleagues your MBA community will connect you with can add to the collection of relationships that enhance your life, professionally and personally.
Learn more about Lamar University’s online MBA – General program.
