A Degree in Business Administration can be worth a lot or a little depending on several factors. With a business degree one can broaden one’s horizons significantly. Business Degrees are particularly suited to those seeking advancement in the corporate field, small business owners and managers, entrepreneurs, investors and professionals seeking to gain a better understanding of the business side of their profession. The careers involving business are extensive; a Doctor might pursue a business degree to better understand the administrative end of their field; Engineers and Computer Scientists may earn business degrees when considering branching out into small Businesses, Corporate employees possibly seek business degrees to assist in promotion etc. In addition to the career implications of business degrees is the knowledge of the world of Business which is pretty much unavoidable in a business program. That is a good thing, and for anyone who didn’t know, Business is a big factor in what makes the World go round these days, so having knowledge of this is useful in and of itself. The remainder of this article focuses on the value of a business education and questions to consider before making a decision about pursuing this course of study.
The Value of Knowledge:
In a business program one learns things like the time value of money, asset management, strategic marketing, brand value, organizational behavior, financial statement analysis, statistical analysis, entrepreneurship etc. The list is quite extensive and the value of these courses also depends on how one applies the knowledge one learns in the degree. For example, if one invests time and money to learn how to build a car but never actually builds a car why learn to build a car? A non-business student might say, “why not if it’s interesting”; a business student who has learned his or her material would say that is a wasted investment or net loss scenario. One thing that a business will teach is how to value money and that is valuable too.
The Value of the School and the Value of the Individual:
How one is situated and which school one attends can also influence the value of a business degree. A degree from a top ranked school or a good public University is prized but not necessarily valuable depending on how it’s used. While a degree from an accredited 3rd tier school will teach essentially the same information as a high ranked school, it may help take someone quite high professionally and therefore be quite valuable if the individual knows how to use it. Thus, although business degrees are not always considered equal in rank and therefore ‘value’, neither are all recipients of business degrees. In other words value can be found in many degrees, if it is turned into something of greater value.
In addition to value of a degree is its potential in the marketplace. Before considering a Business Education take the time to consider the future, implications of the education, and potential benefits. The following questions are designed to help you focus your mind on the potential of a degree and its benefits to you the degree seeker. After answering them read over your answers and think about them carefully to get a feeling for whether the degree is right for you.
1) What is the workplace demand for the education you’re thinking about.
2) Is it what you truly want to do with the rest, yes rest of your life.
3) Can you afford it and if not will you be able to pay back the student loans.
4) Do you qualify for grants or scholarships, if not think about it and other sources of funding like a company or parents.
5) What is the projected demand for the education you’re interested in and how quickly will it become obsolete.
These are just a few of the important questions one should ask oneself and should probably not be taken lightly. It can be hard to take life seriously when one is in their twenties because being young is sometimes about being young and not always being responsible, but this is one thing that is as important as brushing teeth everyday. Applicants in their 30’s and beyond may already know life is not as easy as college and that dramatic changes occur after college. Also, it may not seem believable at first but a business education can really help if one is choosing it because it suits his/her goals, skill set and character. The realized benefits of a good degree program match can be fantastic both personally and professionally.
The choice is not always easy and knowing what one wants to do with the rest of his or her life is sometimes evasive. Perhaps a business education can help with those unknowns but that can be like figuring out how to find one’s way after one is lost. As mentioned above, there are generally a few reasons why people apply to business school. Business degree have a lot of potential value and sometimes immediate value depending on how they’re financed. Although Business degrees are not as specialized as some other related programs they can equip individuals with highly useful information that is necessary in any commercial environment.
In the long run, a business degree has more potential value than in the short term, as degrees do incur opportunity cost and expense when pursued. After graduating one has to generally either find a career, get a promotion, achieve an increase in income, or start a business for the degree to pay off. Naturally, this takes time, energy and investment making the short term implications less financially favorable than the long term. A Business degrees cost is also a factor in determining if it is the right degree. Is a 120 credit program better for your financial situation or is an Associates degree more suitable for you? Sometimes employers can help with the cost of tuition as well as family members, student loans, scholarships and grants. All these things are worth looking into when considering a degree.
A degree in business is a tool for the future, it can either assist one in achieving one’s goals or hinder one depending on how good a match the degree is. It is important to figure out which degree is most suitable before it is too late and one regrets the decision later. By thinking about the questions and information in this article one can be more focused and better equipped to make one of the most important decisions of one’s educational career.
