Is an MBA Worth It?
Whether you're just finishing up your bachelor's degree or have spent years in the workforce, you may have found yourself wondering at some point if a Master of Business Administration (MBA) is the right next step. An MBA is a versatile degree that can equip you with the knowledge, experience, and leadership skills to launch your own business, transition into a new industry, or rise to the C-suite at your current firm. From boosting your earning potential to expanding your professional network, the personal, financial, and career-boosting benefits of earning an MBA can be substantial.Â
That said, pursuing an MBA is a major commitment. It requires time, energy, and focus throughout the duration of the program. Before enrolling, it’s important to fully understand what the experience will require from you, and weigh the investment of your time and money against the potential rewards of the degree. For many professionals, the benefits far outweigh the effort—and the return on investment is well worth it.
Why Do You Want to Be an MBA Student?
Before anything else, ask yourself why you want to get a Master of Business Administration degree. Rather than jumping straight into program research or applications, take a moment to reflect on your motivation. Professionally, you can do a lot with an MBA—some even say that a good business degree prepares you for any career—but it’s a significant investment of time, energy, and money. You owe it to yourself to have a clear sense of purpose before undertaking such a big commitment.
Identify all of your different reasons for wanting to be an MBA student. What’s motivating you to pursue an MBA? Are you looking to make a late-in-life career change? Start your own small business? Strengthen your leadership skills to move into management or an executive role? Whatever your motivation, clarity is key. MBA programs are most beneficial when your goals are well-defined, and you know how the degree will help you reach them. When you start with your why, you’ll be better equipped to choose the right program, stay motivated through the challenges, and get the most out of your MBA experience.
What Are the Benefits of an MBA Degree?
An MBA offers a wide range of academic, financial, personal, and professional benefits. From increased earning potential to enhanced leadership skills, earning a Master of Business Administration can accelerate your career and open doors to new professional opportunities. Â
Increased Salary
One of the most well-known benefits of earning an MBA is the potential for earning a significantly higher salary. On average, than those with only a bachelor’s or high school diploma. MBA graduates often see a strong return on investment—WGU students, for example, see an average salary increase of $22,200 just two years after graduating—which is especially important as the cost of living continues to rise. While salary isn't everything, it’s a powerful motivator for many prospective students.
Professional Development
An MBA program can also be highly advantageous for your career, providing a comprehensive education in leadership, strategic thinking, finance, marketing, operations, and more. MBA students gain practical knowledge and critical thinking skills to become more effective leaders and decision-makers. These competencies translate across every industry, leading to opportunities for career advancement. A recent survey by GMAC showed that the hiring of MBA graduates has increased over five years, and more than three-quarters of .
Job Security and Unemployment
In today’s competitive job market, higher education can provide a sense of stability when navigating career transitions or downturns in the economy. The than the national average. Even during times of economic uncertainty, employers see an MBA as a valuable asset.Â
Advancement Opportunities
Many employers specifically look for candidates with advanced degrees when filling leadership roles. Earning an MBA signals that these candidates are capable of leading teams, managing budgets, and driving results. Whether it’s a management position, moving into the C-suite, or pivoting into a new field, an MBA can open doors.Â
Learn Valuable Skills
Professionals who hold an MBA learn critical thinking, problem-solving, and leadership . Beyond academics, these are practical tools that can be applied in a current role or prepare candidates to step into new ones.Â
Self-Fulfilling
Earning a master’s degree is a fulfilling accomplishment that reflects hard work, perseverance, and a commitment to growth. The sense of achievement that comes from completing an MBA can be deeply rewarding on both a personal and professional level.Â
The benefits MBA degree holders gain are wide-ranging and impactful—professionally, financially, and personally. Whether the goal is to earn a promotion, lead a team, or transition into a new industry, an MBA can provide the tools and momentum needed to move forward.
What Do You Learn in an MBA Degree Program?
An MBA focuses on a broad range of business and financial topics designed to prepare you for leadership in today’s workforce. Most MBA programs include core courses in accounting, economics, communication, leadership, management, and marketing.
In WGU’s online MBA, for example, you’ll take courses like Data-Driven Decision Making, Managing Human Capital, Financial Management, and Ethical Leadership. Students may also study subjects such as operations management and communication—topics that are directly relevant to real-world professional environments in almost any field. Keep in mind that courses can vary depending on the program or area of specialization you choose, such as information technology or healthcare management. So, it’s important to research different MBA options and find one that includes courses that align with your goals and interests.
Most MBA degrees emphasize practical, career-relevant knowledge. Unlike academic programs that focus heavily on theory, the goal of an MBA program is to equip you with the tools you need to step confidently into leadership roles after graduation.Â
How Long Does an MBA Program Take to Complete?
Like most traditional master’s programs, an MBA typically takes about two years to complete when attending full-time. Accelerated MBA programs may be completed in less time, depending on the program structure and your personal schedule.
In addition to the total time commitment, it’s important to consider the day-to-day demands of an MBA program. You’ll need to make time for completing assignments, studying, and taking exams. Rather than focusing on the average amount of time it may take, think about how long you personally will need based on your learning pace, motivation, and availability to study and complete coursework. Some online MBA programs offer competency-based education, which is designed to let you leverage your experience and knowledge to progress quickly through material you already know—and potentially graduate faster. This can make a big difference in managing your daily workload and overall time to completion.
How Much Does an MBA Degree Cost?
, including MBA programs, varies widely based on factors such as institution, location, and program format. While is around $60,000 for a traditional two-year program, tuition and fees at the . This does not include additional educational expenses such as the cost of housing, books, computer and lab fees, or other class materials.Â
Opting for an accredited online MBA program can significantly drop your tuition costs—without sacrificing the quality of the degree. The average annual tuition for WGU’s online MBA program is around $8,900—and most students finish within 1.5 years. With a total program cost typically coming in under $20,000, this online format also allows students to save on additional expenses such as housing and commuting. Plus, they’re able to continue working while earning a degree, gaining valuable income and experience.Â
When planning for an MBA, it's important to consider not only tuition but also other fees and expenses, such as:
- Living expenses: Housing, food, and transportation can add thousands of dollars per year, depending on location and lifestyle.Â
- Books and supplies: These can range from $1,000 to $4,000 annually at a traditional university.Â
- Opportunity cost: For full-time students, lost income from leaving the workforce can be substantial. Â
Luckily, there are ways to reduce the cost of going to college—possibly without taking on student loans. In fact, WGU students often take on less debt through student loans than other students due to flat-rate tuition, scholarships, and financial aid options. Here are some options for financing an MBA:
- Financial aid: Complete the (FAFSA) to determine eligibility for federal grants, loans, and work-study programs. You may qualify for a Pell Grant, subsidized loan, or other another form of federal financial aid.
- Scholarships and grants: Many institutions and organizations offer merit-based and need-based scholarships. You can also search portals like Scholarship Universe to match with community programs and national organizations to help finance your degree.Â
- Employer tuition assistance: Your employer may cover part or all of the cost of your tuition. Check with your HR department to see if your company offers tuition aid or reimbursement.Â
Careful financial planning is essential when considering an MBA. By understanding the full scope of costs and exploring all available funding options, you can make an informed decision that aligns with your career goals and financial situation. A degree is an investment—before you can unlock the opportunities it offers. Planning for these expenses early on can make it significantly easier to manage the cost when the time comes.
How Much Can You Earn With an MBA?
Earning an MBA can significantly enhance your income potential. According to the Graduate Management Admission Council's 2024 Â鶹´«Ă˝ Corporate Recruiters Survey, the —a substantial increase over the median salary for bachelor's degree holders.Â
However, it's important to recognize that salaries can vary based on industry, location, and individual career paths. While some graduates may quickly secure high-paying C-suite positions in sectors like finance or IT, others, such as entrepreneurs or those working for non-profits, might experience a more gradual financial return on their investment.Â
The value of an MBA is clear when you consider the significant return on investment it can offer, whether in terms of salary, job security, or career advancement. WGU’s career-focused approach ensures that you’re learning the skills employers are looking for. In fact, 98% of employers say WGU alumni meet or exceed expectations.
When evaluating the potential earnings from an MBA, consider both the immediate and long-term financial benefits. With the right program and a clear career plan, an MBA can be a valuable investment in your future.Â
How Do MBA Alumni Feel About Their Degree?
When considering whether to pursue a master of business administration, it’s helpful to know . A significant majority of MBA alumni report positive outcomes from their education. GMAC's of 3,600 students revealed that 84% of graduates reported their experience helped improve their professional situation, and 72% indicated that their degree helped them achieve personal and financial goals.Â
While these statistics are encouraging, it's important to recognize that pursuing an MBA is highly a personal decision. For example, one WGU graduate named Jonathan earned his MBA in IT Management, and landed his dream job with Nintendo just three months later. He credits his courses in leadership, finance, strategy, and IT in preparing him for the daily challenges he faces leading the service desk team.Â
No two students will have the exact same experience, and the degree’s ultimate value can vary based on each individual’s goals and circumstances. However, the overwhelmingly positive feedback from alumni suggests that, for many, an MBA is a worthwhile investment in their future.
Is an MBA Degree Worth It?
If you find yourself asking, “Is an MBA worth it?”—you’re not alone. It’s a big decision, and the answer often depends on your goals, motivation, and circumstances. For many students, the return on investment—professionally, personally, and financially—makes earning an MBA well worth the effort.
An MBA can open doors to new leadership roles, boost your salary, and expand your skill set in ways that help you thrive in today’s competitive job market. Choosing the right university makes all the difference.
At WGU’s School of Business, we design our MBA programs to offer real-world value through career-aligned learning, built-in flexibility, and affordable tuition. With our flat-rate tuition model, you can complete as many courses as you're able each six-month term for one set price—potentially allowing you to graduate faster and save money.
