According to the Graduate Management Admission Council,with an MBA you can expect a salary increase of $45,000 over the average salary of an individual with just an undergraduate degree, to a median salary of $100,000. The job prospects for graduates are better than they have been in years with 88% of employers planning to recruit MBA graduates in 2016, up by a third since a historic low point in 2010. With market demands for business school graduates on a steady rise, now is a great time to go back to school and move toward the management position you’ve been waiting for. It’s the first step in your rise to the executive level or toward launching your own business.
There are many paths toward earning your MBA and despite a wealth of advice online, only you can decide which path best fits your lifestyle and your vision for a career.
Part-time vs. Full-time
Each option comes with its own trade off: you can complete a full-time MBA at a school like the Lazaridis School of Business & Economics in one year. A part-time program will take longer (3.3 years at the same institution), but you can complete it while working, reducing your debt load and maintaining an ongoing career while you study. Many candidates start their degree to qualify for a promotion at their current company and a part-time program allows them to stay in their present position.
Specializing your MBA is a great idea if you already know exactly which direction you want to take your career. The most common specialization options are in marketing, finance, organizational behavior (HR), operations management, strategic management, accounting and supply chain management.
Where you earn your MBA has a big impact on the network you’re going to develop and potentially even the kinds of companies that may wind up recruiting you. Sometimes, business schools with multiple campuses will tailor their programs according to the campus location. For example, if you enroll in a part-time MBA program at the Lazaridis School of Business & Economics in Toronto, you have an option of completing a double degree with a Master of Finance or earning your CPA designation, including coursework designed to prepare you for your CFA exams. At their Waterloo campus they offer programs designed to bolster their Innovation & Entrepreneurship specialization, and students with their own startups can apply for space in the Communitech Hub or the LaunchPad incubator to bring their ideas to the market.
As you research MBA Programs in Canada, look for schools with the right accreditation and reputation to give you the edge you need to excel in the business world. Only consider universities that are accredited by AACSB (the Association to Advance Collegiate Schools of Business), a global organization whose members represent the highest standard in business education worldwide. Universities only achieve membership through high quality faculty, exceptional opportunities for students and alumni, and relevant curricula.
Stop waiting for the right time; earn an MBA now at a globally recognized business school in Canada, increase your salary expectations by $45,000, and make your dream career a reality.