At some point, many people with corporate jobs will wonder if they should get a master of business administration (MBA) degree. Opinions vary widely on this topic. Many people feel that getting an MBA will help them secure a better or higher paying job. Many people feel that it isn’t necessary to get an M.B.A., when you can learn most of it on the job. The question most people actually need to ask is: What do you hope to get out of the degree?

Many people get their MBAs while they are working and don’t actually intend of switching jobs after they graduate. In that case, getting an MBA may not actually help you increase your salary or even get a promotion. In many cases people get MBAs because they don’t know any other way of getting a promotion or raise. Others will get their MBAs because they are currently unemployed, or they are staying at home taking care of a child or elderly parent.

The more realistic your expectations, the more likely they are to come true. If you are trying to land a job as a CEO at a large sized company that probably won’t happen just because you got an MBA.

MBAs are best for individuals with at least a few years of relevant work experience, so if you have been working in marketing for more than 3 or 4 years, you are a good candidate for an MBA. You will have enough background information to perform optimally. Many undergraduates continue on with MBA program directly out of college. That’s probably not the best idea, simply because you don’t have the work experience to really apply what you learn in class.

Pros

1. It will probably help you stay competitive.
2. Many MBA graduates have jobs in management.
3. Many MBA graduates report that they now have higher salaries than when they did not have an MBA.

Cons

1. It’s expensive.
2. Many people feel that they can learn on the job instead of in the classroom.
3. It’s not necessary to have an MBA in order to work in management.

TopMBA.com, an online recruiting and education site, reports that the average M.B.A. salary went above $82,000 in 2004, up more than 9% from 2003. That will likely grow as the demand for a highly-educated workforce increases.

If you are considering getting your MBA online, the cost is significantly lower than a traditional private college. Many employers also offer tuition reimbursement programs so you can also save significantly on tuition. Online education allows people the flexibility they need to work full time as well as get their degree in a timely fashion. 

If you're ready to start searching for the best MBA program for you, visit the Business and MBA section of our site.