Why Get Your Master Business Administration Degree?

Here are eight great reasons to earn your MBA degree:

The U.S. Bureau of Labor Statistics reports the following MBA salaries for 2010:

As today's marketplace evolves and becomes increasingly complex, many employers are choosing to balance their need to retain good employees with their need to fill managerial positions with candidates possessing advanced-level knowledge and skills. They're doing this by sending selected employees to business school—and footing the bill.

Interested in starting your own business, but not sure you have the necessary expertise to launch a start-up in a high-growth industry? An MBA can prepare you to do everything from writing a business plan to acquiring venture capital to launching an IPO. Research has shown that the failure rate for small businesses started by MBAs is about 50 percent less than the standard failure rate.

An MBA program will put you on the fast-track to career advancement by offering you the chance to develop a wide range of general business knowledge and a broad base of technical skills in a relatively short period of time, as opposed to the years-long trial-and-error process that tends to characterize knowledge and skill gleaned from on-the-job learning.

A recent proliferation of "niche" Master of Business Administration programs means that you can not only look to business school for a firm grounding in the basics, but for innovative education that can lead to an exciting career in a newly emerging field such as brand management, information technology, e-commerce or mobile telecommunications—just to name a few.

Networking is another key benefit. Business school teaching styles encourage teamwork, and over the course of an MBA program, you'll develop important relationships that can serve you well throughout your business career. And no matter the school, you can often get plugged into a network of alumni working at a wide range of companies. This is useful for mentoring, job searches and professional contacts.

MBA grads are desirable in any job market; an MBA will give you the opportunities you need to advance in the business world.

_{Sources:  U.S. Bureau of Labor Statistics wage data published March 27, 2012; Financial Managers; Advertising, Promotions and Marketing Managers; Public Relations Managers and Specialists; Medical and Health Services Managers; Property, Real Estate and Community Association Managers; Accountants and Auditors; Top Executives.}

_{*The salary information listed is based on a national average, unless noted. Actual salaries may vary greatly based on specialization within the field, location, years of experience and a variety of other factors.}