“Management is doing things right; leadership is doing the right things”. ~ Peter Drucker
In the fast-paced corporate world, it’s essential to be on top of your game. To succeed and build a life that you desire, having the appropriate skill set is important. But so is continuing education and upskilling yourself to stay ahead of the competition.
With increasing demand and the lucrative benefits that come with being in managerial and leadership positions, many folks are tempted to upskill at their current job with an MBA degree or a well-rounded leadership program. If you’re also thinking of making this move and aren’t sure if you should do it, this quick guide on the benefits of upskilling with a leadership program or MBA degree is sure to help you make the right decision.
How to Determine if Enrolling in a Leadership Program or MBA Degree is the Right Move for You
“I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” ~Steve Jobs
Since 2022, over 54% of business schools around the country have seen an overflowing number of admissions, mainly by international students. The statistics clearly suggest that MBA degree programs are in high demand all over the world. With an increasing demand in management and leadership positions, you may want to take the plunge and choose an exemplary educational program for yourself.
Whether you are specifically interested in a leadership program or want to do an MBA in something more targeted like finance or marketing, you’re bound to learn more about the skills of leadership and team management.
Source: Transcom, ”What is Upskilling”
However, it may be worth noting that acquiring a Master’s of Business Administration isn’t cheap by any means. Most MBA programs cost tens of thousands of dollars, especially when you’re pursuing them full-time.
That’s why many corporate employees who can’t afford to leave their job to upskill themselves choose an online executive MBA program or a leadership certification. Not only is it easier to manage these endeavors with a full-time job, these programs also teach many of the same skills a traditional MBA would offer at a pace that works for you. Many programs can be completed in a year or less and won’t cost you an “arm and a leg” compared to more traditional university tracks.
What You Will Learn in a Leadership or MBA Program
Let’s look at all the things you can learn in theory and practice when you enroll in a full-time, part-time, or online MBA, or a leadership certification program.
Source: Franklin University, “Benefits of an MBA”
Enhance Your Knowledge and Management Skills
Management courses often emphasize the power of critical thinking and quick decision-making. They prepare you for real-world situations and equip you with the knowledge required to manage other people in the future.
These MBA and leadership programs also sharpen your focus, help with strategic thinking, time management, prioritization of tasks, and many other hard skills specific to your chosen field or niche. For instance, if you choose to pursue an MBA degree in finance, you’ll be taught about financial reporting, risk management, financial management, financial modeling, accounting, financial analysis, and more.
Improve Interpersonal Communication and Confidence
The most important part of being a good leader is learning how to communicate with people by mastering the art of listening. When you’re managing teams, it all comes down to how strong your interpersonal skills are. Your management style is influenced by your relationship with yourself, and the right program will foster qualities like confidence, presentation skills, negotiation, effective communication, and a strong focus on emotional intelligence. What will naturally follow as you develop these skills is more ethical and empathetic mentorship, creative problem-solving, and a culture of collaboration and trust amongst the teams you lead.
The Power of Networking
With the right approach to networking through authentic connection, leadership programs can be a powerful tool to help you build a global community. When you study with people from various walks of life, you learn different approaches to leadership. Interacting with individuals from a range of backgrounds is the first step to eventually oversee regionally and globally diverse teams effectively.
More diverse cultural awareness also helps you build a network of industry leaders and peers across the globe. This naturally leads to opportunities for you to learn from leading experts in your space, collaborate on new passions, build partnerships, and even open the doors to entrepreneurial ventures.
The Art of Being a Team Player
Many MBA programs have fierce peer competition, but students also have to do many projects and assignments in groups. Through working together, these cohorts learn to appreciate and respect diverse perspectives while dealing with the subtleties of teamwork.
Being a good team player is also part of being a good leader. A leader needs to be receptive to diverse ideas and views to expand their business. So if you want to run your own business or lead teams in an organization, an MBA or leadership program will help you enhance your skills to work and lead with different kinds of people.
Opportunities for Better Career Prospects
One more benefit of a leadership program or MBA degree is that it opens many doors for you to progress in your career and find better opportunities. Within 2 to 5 years of graduating, many MBA graduates make between $150k to $180k per year. Even more so if they go to the best business schools. That is even more than the average salary for someone with an online doctorate in education, another top career to pursue if your goal is to obtain a high-paying position. Regardless of the industry, a reputable leadership program, like those offered by the Leadership Circle, can also help you negotiate for promotions, higher salaries, or new opportunities.
There are obvious personal benefits that a higher salary can help you afford: better housing, health care, education, travel, and entertainment. But there are also significant professional opportunities that may come your way by simply being in the right places at the right time. With advanced titles, you can network with influential people more easily, access more opportunities or investments for financial growth, achieve a better balance between work and life, lower your financial stress, and improve your professional expertise.
Source: Econsultancy, ”Digital Upskilling”
Final Thoughts
A strong leadership program or MBA degree can help you create the life you’ve always wanted or help you envision what that dream life looks like so you can create a plan to get there. Whether you’re an executive, an entrepreneur, just starting in your career, or unsure of your next career move, investing in a leadership program is guaranteed to improve your chances of success. So if you have an aptitude for business and want to grow professionally, don’t hesitate to utilize more training and education. Through these endeavors, you will build an arsenal of both soft and hard skills that can take your career to the next level.
Steven Briggs is a guest contributor to the Leadership Circle blog. You can learn more about Steven and his writing at stevenbriggs.co
