Is an MBA worth it in a DIY learning world?

The way we learn continues to evolve as new technologies become so common that we can no longer imagine life without them.

With the increase in smartphone use, internet access and opportunities for digital connection, people can now instantly access information on any topic, reducing barriers to learning and personal growth.

Micro-credentials – that is, small certification courses – are increasingly common as a way of focusing on a particular area of study, often with only the commitment of a few weeks. Free resources – such as online tutorials, articles and even short courses – are also available on a dizzying array of subjects.

If you’re considering a Master of Business Administration (MBA), the question has to be asked: Is an MBA worth it in this new DIY learning world? And can DIY learning replace an MBA qualification?

Let’s find out.

MBAs are a singular and unique qualification

MBAs often have specialisations or focus areas, meaning they can have a vast number of practical applications as the global business market shifts and grows. People may decide an MBA is worth it for many reasons, including:

• To advance their role at the company where they are currently employed
• To increase their career prospects outside their current organisation
• To deepen their skills and abilities before making a move into a new industry altogether
• To build a broad and extensive skill set that positions them as an attractive start-up founder
• To position themselves as an expert on the areas incorporated into the MBA experience
• To push their personal limits and extend their abilities.

Successful MBA graduates take the skills they build in their MBA experience and apply them across a wide range of industries.

They move into roles in consulting, advertising, marketing, start-up management and founding, supply chain management, project management and leadership positions across every industry.

MBA courses teach soft skills with real-world applications

The value of an MBA goes far beyond one single career application. The MBA experience is about more than building knowledge – it’s about cultivating future leaders with a deep and varied skill set required by world-class corporations and industry game-changers.

These soft skills include:

Leadership

MBA graduates are prepared to be next-generation leaders who can manage large teams of employees, organisational pressures and company cultures.

Integrity

Throughout the study process, MBA students learn the importance of integrity, a character trait that is highly valued for career advancement and everyday decision-making.

Critical thinking

MBA students undertake an extensive study experience to learn how to ask the right questions that lead to enhanced outcomes. Students emerge equipped to make reasoned judgments that have considered the big picture.

Communication

The ability to communicate effectively is helpful in all aspects of life, not just in business. MBA graduates are equipped with skills that allow them to communicate ideas, visions, challenges and opportunities to engage with each audience effectively.

MBAs are an investment that demonstrates true commitment

Having an MBA demonstrates to employers that you are serious about cultivating the skills, abilities and experiences to make it to the next level in your career. This is a quality that is typically highly regarded by employers and can make your CV stand out.

As a prestigious degree, MBAs are often known for rigorous study expectations. Historically, earning an MBA often required applicants to give up their full-time work for the duration of the course, relocate and drastically change their lifestyle to keep up with the course’s demands.

With online study, however, the options that exist for MBA study today are much broader. An online MBA gives you all of the benefits of an on-campus MBA with a reduced impact on your existing commitments, including:

• Greater flexibility in your time and when you choose to study
• The ability to begin the course or a new unit at any of six study periods each year
• The capacity to earn an MBA without quitting your job or having to relocate

By studying online, you can benefit from flexible study, deep-level engagement and the opportunity to connect with your peers from various industries and experiences.

However, you can do so with a high degree of ownership over how you allocate your time and resources to complete each unit that makes up your MBA course.

MBAs are recognised as an elite qualification worldwide

There’s a lot you can learn through the DIY approach – but most of it won’t give you the benefit of a world-class, globally recognised qualification.

According to a report from the Graduate Management Admissions Council that surveyed international recruiters, 87 per cent of corporate recruiters were confident or highly confident in the ability of business degrees to equip students for success.

In addition, 61 per cent of corporate recruiters saw job seekers with a graduate business degree as more competitive than those with micro-credentials. More than half of recruiters also said that candidates with a degree are more likely to be successful in their organisations.

The return on investment from an MBA is ongoing. Whether you decide to gain an MBA qualification for one specific outcome or not, you’ll see the ripple effects of your learning experience across your everyday work experiences and your future employment prospects.

MBAs can increase your salary

While online resources and short courses may help build your business skills, MBAs continue to signal to employers the quality of your education and - often - the salary you should earn.

In fact, despite economic downturn, MBA salaries have continued to grow, with MBA graduates likely to earn more than others across a range of industries, regions and organisation sizes.

Having an MBA qualification can also open doors to high-paying leadership roles, such as C-suite executives, HR directors, health services managers, product marketing managers, general managers and more.

Is an MBA worth it?

Beyond the value of the qualification and the soft skills, there are some other key reasons why an MBA is worth it.

A comprehensive curriculum (with practical applications)

One of the most significant advantages of earning an MBA is the comprehensive curriculum, which integrates theoretical knowledge with practical, real-world applications – something that DIY learning simply cannot do.

An MBA course is designed to cover a broad spectrum of business functions – finance, marketing, operations and strategy – in a way that builds not only expertise but also the ability to see the bigger picture.

While DIY learning might provide content in these areas, it lacks the critical integration of these subjects, which is fundamental to solving complex business problems.

Collaborative learning and networking opportunities

DIY learning can be fun, but it isn’t particularly collaborative. An MBA course fosters a collaborative learning environment that encourages engagement with a diverse group of peers. Through group projects, case studies and discussions, students are exposed to various perspectives, ideas and leadership styles.

This interaction helps students sharpen their interpersonal and communication skills, capabilities that are essential in leadership roles. DIY learning, on the other hand, is often a solitary pursuit, lacking the peer-to-peer networking opportunities that MBA courses facilitate. These networks can be invaluable for career advancement, mentorship and entrepreneurial ventures.

Personalised feedback from experts

Earning an MBA also provides opportunities for personalised feedback from experienced professors and industry experts. The ability to ask questions, challenge assumptions and receive tailored insights from seasoned professionals is a crucial component of the learning process.

While technological advancements and artificial intelligence (AI) have changed the educational landscape, nothing can replicate interpersonal interactions with industry professionals.

Self-guided learning lacks this feedback loop, which is crucial for refining one’s thought process and decision-making abilities.

Become a leader of tomorrow

While DIY learning can be a valuable tool for acquiring knowledge, the online MBA course at Southern Cross University offers a rigorous, immersive and dynamic experience that builds not just business acumen but also leadership, communication and critical thinking skills.

These are foundational elements for success in today’s complex and fast-evolving global business environment.

If you’re interested in how an MBA could move you closer to your personal and career goals, speak to an SCU Student Enrolment Advisor today on 1300 863 819.