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3 reasons you should consider doing your MBA when you're at a career crossroads

Steph Panecasio

This article is sponsored by CQUniversity Australia.  »

  • Historically MBAs have been expensive and require full-time study.
  • Factors like online delivery make MBAs more accessible and flexible.
  • It's possible to study global markets and social innovation while working full-time.

Developing leadership skills can be instrumental in setting an employee apart from the rest — no matter what industry you work in and even if you aren’t necessarily inclined to become a CEO one day.

Regardless of your role, chances are somewhere along the line you’ll be required to lead a team.

It may only be a direct line of one person, but you’ll still need to be equipped with the appropriate professional and interpersonal skills to effectively handle a leadership role.

So when it comes time to decide regarding the future of your career, a Master of Business Administration may be the best bet in growing the skills required.

It can be a huge advantage for you to be able to understand the global economy, study relevant case studies and network with the people who may ultimately be instrumental in helping you find your next job.

But there are a lot of factors that prevent people from thinking that an MBA would be right for them.

Historically, MBAs have been expensive and regimented, with little time to do anything other than full-time study.

That is no longer the case.

Here are three key reasons that you may want to consider undertaking an MBA if you find yourself at a career crossroad.

1. It doesn't have to break the bank

For the most part, conventional MBAs aren't particularly cheap. According to MBAnews.com, the average cost to undertake an MBA in 2019 is $52,000 — but it doesn't necessarily have to be this expensive.

Depending on the type of MBA you're considering, you could be looking at spending anywhere from $7000 through to $120,000+.

So when it comes to available funds to dedicate to education, MBAs like CQUniversity's MBA (Leadership) can be lucrative in the long term for those on the lower end of the cost spectrum.

One of the contributing factors to its low cost is online delivery, which means you’re not paying traditional administration and course overheads that come with timetabling of lecturers, rooms, equipment and course administration. Plus, all the resources are readily available in the online platform so there are no extra costs.

CQUni currently holds a postgraduate coursework full-time employment rating of 87.1% — slightly higher than the national average of 86% — so you'd be in good stead for growth down the line.

This is going by the findings of Quality Indicators for Learning and Teaching (QILT), which produces an annual report measuring and comparing higher education institutes and degrees.

2. It's not just for people who want to be a CEO

You don’t have to have ambitions to run a company in order to develop your leadership and management skills — let alone improve them in a business-specific context.

If you’re currently working in a role that requires you to manage people, undertaking an MBA could be the defining factor in running a cohesive, efficient team.

The same goes if you’re an entrepreneur or start-up operator seeking support, networking opportunities and a foundation for applying ideas to a greater commercial context.

But even if you’re not in management at present, for people who are stuck in positions where they don’t necessarily see growth without the external development, it can be really valuable to upskill.

With course subjects like communication for leadership success, strategic marketing, global economics, business legal frameworks and social innovation, an MBA can upskill and increase your competency in a sufficiently varied and expansive context.

According to Deloitte Insights, "the top-rated trend in 2019 is the need to improve learning and development," largely due to evolving work demands.

By getting ahead of this trend and taking on the learnings of an MBA, you can best prepare yourself for a change in direction, or conceivably demonstrate that you're able to take on more responsibility in your current role.

3. You can do it while working full-time

One of the biggest factors that influences people in investing time towards educational and developmental pursuits is the inability to commit to a full-time, regimented course.

That doesn’t necessarily have to be the case when undertaking an MBA.

If you’re at a crossroads and are uncertain where your career is heading, you can still maintain your everyday work for the duration of the course, because if you opt for the MBA (Leadership) from CQUniversity Australia, you won’t have to deal with any rigid class schedules or assessment deadlines. It’s hyper-flexible, meaning you can submit assignments at any time.

It’s entirely autonomous and self-directed, allowing you to be an independent learner while still providing you with the opportunity for 21st century networking with your peers and industry members.

With a flexible time frame of 12 months to five years, this allows you to work on the development and skill progression required to make a change, without having the uncertainty of unemployment.

If you’re still uncertain whether undertaking an MBA (Leadership) could be beneficial to you and your goals, you can assess your suitability for the course by taking a quiz.

Simply register online and CQUniversity will provide you with a narrower focus for whether you’re suitable for the course — and if the course is suitable for you too.

Because whether you’re interested in developing a network, expanding your skillset or simply seeking a change, an MBA could be a step in the right direction.