What prospective MBA students should know before starting their studies

Considering an MBA? Weigh the significant costs (financial, time) against potential career and salary benefits. Understand if an MBA aligns with your goals before investing.

The MBA business degree promises salary and career jumps – but not for everyone. Those aspiring to the prestigious title should be aware of the costs. Not just the financial ones.

Doubling your current income, moving up one or even two steps on the career ladder, landing a top job at Deloitte, Google, McKinsey, or Microsoft: If you read the business reports of international business schools, you get the impression that a Master of Business Administration (MBA) always leads to a steep career ascent.

The Anglo-Saxon-influenced business degree is primarily aimed at aspiring managers who already have a first degree and several years of professional experience and want to acquire the necessary business knowledge for a management position.

After two years of decline, it looks like the MBA is making a comeback. Global admission numbers rose by more than 13 percent in 2024, reports the GMAC association, which comprises leading international business schools. The interest in the classic full-time program grew most strongly. According to a survey by Carrington Crisp, one in three prospective MBA students prefers on-campus study at a business school, while only eight percent want to study entirely online.

But before quitting your job and enrolling in a prestigious management school, you should carefully weigh the costs and benefits. While an MBA degree does indeed lead to better earning and career opportunities around the globe, such a degree also costs a lot of time and money. How wisely both are invested depends primarily on individual career goals.

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On average, participants in the practice-oriented general management program are 30 years old and have been in their jobs for about three to six years. Business knowledge is not a prerequisite; many bring a master's degree in a technical or scientific field. Those who are older and more experienced can pursue an Executive MBA part-time. This further education usually lasts one year, while younger candidates may have to return to university for up to two years for a full-time program.