More women than ever are pursuing the Master of Business Administration (MBA) degree, either in a traditional brick-and-mortar classroom setting or through online MBA programs. Currently, almost half of the people who take the Graduate Management Admission Test (GMAT) are women; however, women account for only 30 percent of enrollment in MBA programs, according to MBA50.com. Top business schools are stepping up their efforts to show how an MBA presents an opportunity for women in business to invest in themselves, their careers and their futures.
Companies benefit from female leaders
Companies increasingly are seeking out women with MBAs, according to the Forte Foundation, a nonprofit consortium of leading companies and top business schools whose mission is to launch women into significant careers in business. Women in business who pursue an MBA can change or advance their careers with the additional skills they learn and the professional network they build. Many women with MBAs use their degree to launch entrepreneurial ventures. In addition, having an MBA can help a businesswoman climb the corporate ladder faster and get board-ready more quickly. Also, compared to those without an MBA degree, women who graduate with an MBA degree tend to make more money in their first job after graduation or earn a salary increase in their current job, according to the Forte Foundation. Women with their MBAs see pay gains of 55 percent to 65 percent of their pre-MBA salary within five years of graduation.
Online MBA works well for working women and moms
Many leading MBA programs have begun to adapt their programs to make them more appealing to businesswomen and working moms. An online MBA, which offers both flexibility and convenience, is one example of this and may be a good option for a woman who works full-time and/or has a family. Whether a woman pursues an MBA online or on-campus, graduating with a Master of Business Administration degree can open numerous doors in the business world.
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