4 Reasons an MBA Is Still Valuable in Today’s Job Market  

If post-graduate education or business school is of interest to you, you may have noticed that there’s not a lot of enthusiasm lately for the MBA. Student debt has become a major problem in the U.S., so much so that it’s been one of the main issues discussed during the presidential election. And because students are more worried about the burden of debt and the uncertainty of the job market for millennials, many are simply looking past the MBA and other graduate degrees in favor of employment opportunities.

This is a perfectly reasonable course to take, particularly if a job opportunity presents itself. There’s plenty of logic in pursuing income—as long as it comes with a career path—instead of education, particularly these days. But the high cost of graduate school should not completely deter students and young professionals from exploring a business degree. There are a  number of benefits to having an MBA in today’s job market and economic climate.

The Potential Is Still Lucrative 
Despite the common narrative that the MBA is becoming too expensive for modern students, an article at Fortune pointed out that it has become the most popular master’s degree to obtain in the U.S. One of the main reasons for this is that a business degree remains one of the most predictable paths to success available. This is particularly appealing to young professionals and students who experienced the 2008 financial crisis right around the time they were becoming adults, or at least becoming more aware of economic conditions. A lot of the criticism of the MBA stems from the thought that it doesn’t provide a good return on investment. But this thinking is often based on an immediate measurement of the first few years directly following graduation. Long term, the MBA still offers a fairly stable path to success in business and potentially lucrative salaries. The relative “safety” of this path is arguably more worthwhile than ever before in today’s climate.

Leadership Is Emphasized
When we talk about today’s business environment, the topic of entrepreneurism is inescapable. An ever-increasing number of millennials are considering entrepreneurial pursuits as legitimate career paths, and sometimes the thinking that follows is that the MBA—meant to provide a path into existing business environments—is not necessary. This makes some logical sense, but it also ignores the fact that the process of earning an MBA strongly emphasizes leadership. In fact, this is one of the main focal points when applying to MBA programs. Menlo Coaching, an online platform designed to assist prospective students with their applications, offers tips to help them demonstrate what kind of leader they’ll be. You’ll notice that this phrasing doesn’t make leadership a condition or a possibility, but a necessity! The business school process gives students the tools they need to step up and lead in discussions, negotiations, pitch meetings, and other environments that are just as much a part of entrepreneurial pursuits as they are of established companies.

The Schools Are Adapting 
This is a very important point that was made by The Independent, a UK news site that has a whole section for MBA guides. The idea is that business schools are modifying what they are teaching to meet the constantly changing requirements and expectations of today’s employers. In other words, it’s important for students to recognize that even if some of the narratives out there suggest the MBA is being phased out, the actual education process is fairly adaptive. New companies and industries work in new ways, and educators tend to take this into account, adjusting curriculums accordingly. That means that you can think of the MBA as a modern degree, not an archaic one.

Uncertainty Is Always Daunting
This is going back to the first point, but it’s worth repeating to some extent. One of the reasons today’s students are sometimes hesitant to pursue graduate degrees is that they’re worried they won’t be able to pay off debts efficiently (or ever). In a broad sense, this refers to an economic uncertainty that’s a reality for the millennial generation. However, some might look at this same uncertainty as the very reason that the MBA continues to hold enormous value and remains a potentially lucrative career move. This isn’t true in just a general sense—it’s a point that should resonate with young people who are feeling anxiety about their financial future.

While it’s not absolutely necessary for people interested in business to pursue MBAs, these points should help you to realize that the perceived demise of the degree’s value has been drastically overstated by a number of sources. For the right student in the right situation, business school still makes a great deal of sense; even, and perhaps especially, in the modern economic climate.