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MBA is a degree that introduces students to myriad business courses such as human resources, accounting, marketing, operations management, and finance. Students in this field decide whether to specialize in one of the aforementioned field or concentrate one-fourth of their schoolwork in this program. Thus, this means that a person undertaking the course will have many job openings or can start their own business. Ellis (2010) points out that a student contemplating between taking a degree course, or another route in life must have attended school up to high school and achieved the minimum criteria required for admission into a degree course or the route that he or she desires. It is also essential that the student consider future economic trends in terms of employment in order to take a degree that will guarantee a job opening.
This essay explicates the opportunity cost of getting an MBA. In addition, it outlines the steps and economic factors a student requires to make when choosing between getting a degree or taking another route in life.
MBA is a lucrative course in the job market because a holder can work in a variety of business departments. Many fields under MBA assure a student of a job opening because they are affiliated with the economy. Bygrave & Zacharakis (2009) assert that another advantage of taking an MBA is that it instills a student with skills regarding the operation of a business, which means that a graduate can start and manage his own business.
When choosing between getting a degree or taking another route in life, a student has to ensure that he or she has met the admission criteria of the degree or the route one wants to become specialized in. Secondly, the student has to consider the availability of fees or funds for engaging in the route that one has opted. Thus, Stralser (2004) notes that, in this context, it is more advisable for a student to get a degree because of scholarships that can fund his or her education.
In conclusion, MBA is a lucrative course in the market as it has myriad business related subjects such as finance, operations management, and marketing. It is essential that a student consider the future economic trends when deciding between getting a degree and taking another route in life. Thus, it is preferable to get a degree because a person is empowered to work in various fields unlike specializing in one job.