Both a Bachelor of Business Administration (BBA) and Master of Business Administration (MBA) are university degrees awarded for the study of multiple business areas such as management, accounting, finance, marketing, human resource management and operations management. However, there are many reasons to pursue an MBA after having earned a BBA.
Access to Jobs
A Master of Business Administration is considered a career starter or catapult for a number of industries such as finance and banking. Some MBA programs require you to have a few years of job experience under your belt before applying, but others don't. For those who go directly to study an MBA after earning a BBA, having an MBA degree opens up opportunities to a number of jobs. On the other hand, for students who study for an MBA after earning a BBA after working for several years, the MBA serves as a career catapult, allowing someone to reach positions of greater responsibility and higher salary. Some careers that require an MBA include: investment banker, hedge fund manager and equity fund manager.
On average, master's degree holders in any discipline earn more than bachelor's degree holders. A report by the U.S. Census Bureau states that full-time workers with master's degrees earn $10,000 more per year compared to full-time workers with only bachelor's degrees. In particular, however, Masters of Business Administration are largely considered the ticket to a high salary. According to an article by Forbes, a typical MBA graduate in 2006 earned a base salary of $98,670 per year. An article by Randall S. Hansen suggests MBA holders earn $10,000 to $30,000 more per year than bachelor's degree holders.
Master of Business Administration programs are considered fertile ground for making important networking connections that are valuable in one's career, whether securing a job or references or starting, financing or staffing a new company. Both MBA students and alumni gain access to other business school students, faculty and alumni. Many graduate-level business schools maintain active alumni networks that specifically focus on encouraging business networking, something that is not as common in undergraduate alumni networks.
A Master of Business Administration is an advanced graduate degree that enjoys a high level of prestige in the business world and society at large. Having earned an MBA degree is a big accomplishment that is often rewarded with greater respect among peers and others. In addition, an MBA is an important asset to list on your resume or CV as well as your Facebook page.
- University of California Berkeley, Haas School of Business: Alumni Network
- Youngstown State University, Williamson College of Business Administration: Why Earn Your MBA?
- U.S. Census Bureau: The Big Pay-Off, Attainment and Synthetic Estimates of Work-Life Earnings
- Forbes: M.B.A. Reality Check
- Quintessential Careers: The Master of Business Administration, Is the MBA Worth It?
- Photo Credit Goodshoot RF/Goodshoot/Getty Images
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