Do you want to change careers and shift into higher-paying positions? That’s where an MBA degree may come in handy in Singapore. Should you pursue an MBA for a career change? It can be a strategic choice when you wish to acquire management skills and access new industries or even start your own business. This is because the degree will give you precious networking opportunities and extensive business education.
Of course, there are several alternatives, such as specialized master’s courses, certifications, and other programs. However, an MBA may be more valuable, especially in Singapore, with reports highlighting how 88% of graduates at leading institutions like INSEAD got job offers within three months of graduation. Let’s learn more about it below.
Source: INSEAD
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How an MBA Supports a Career Change: Benefit and Drawback Breakdown
When it comes to an MBA career switch, there are several factors to be considered. Some of them include the following:
| Factor | Why It Matters |
| Acquiring Skills | Training in core business functions and transferable skills across industries |
| Exploration | Helps check out new pathways through internships, exposure to various business roles, etc. |
| Costs | Offline programs may be costly, while online programs are usually affordable |
| Timing | Flexible online options exist, while on-campus courses require significant time commitments |
| Network | May offer access to a vast network of alumni, peers, and faculty |
| Alternatives | Some options include specialised certifications, master’s programs, etc. |
Skills & Knowledge Foundation
- Helps you develop core business competencies like marketing, finance, operations, etc.
- Cultivates crucial soft skills like leadership and problem-solving.
- Offers specialised knowledge across domains.
Also read: MBA in Education Management and Leadership
Self-Discovery & Exploration
- An MBA for working professionals widens your perspective, with exposure to diverse industries and roles.
- Offers more flexibility in career concentrations.
Networking & Credibility
- It may help you build a robust professional network of peers, faculty and alumni.
- You may get valuable connections for a smoother career transition.
- A degree from a reputed institution enhances your professional credibility and recognition.
Career Opportunities
- An MBA may unlock roles in lucrative sectors like finance, consulting, entrepreneurship and technology.
- It enables career pivoting, helping you with credentials and pathways to switch job roles and industries.
Also read: What Are The Job Prospects After An MBA In Singapore?
Cost & Opportunity Cost
- On-campus and full-time MBAs have significant time and financial commitments.
- You should account for lost earnings while pursuing full-time MBAs.
- Executive and part-time MBAs are also available, while the most flexible MBA programs are usually those offered online by top universities.
- These online programs help you juggle work and study while paying less (since there are fewer infrastructure costs).
Also read: What are Some Good and Affordable Online MBA Programs Worldwide?
Alternatives & Timing
- Check different formats like executive MBAs, part-time MBAs, full-time MBAs and online courses and their time commitments.
- Explore other options like specialised master’s courses, on-the-job training options, profession-oriented technical courses, etc.
Also read: Full-time Vs. Part-time MBA In Singapore
How Experts View the Role of an MBA in Career Transitions
Here’s how experts view the role of an MBA in career shifts:
- Skill Boost- Experts feel that MBAs offer foundational business knowledge in key areas and the necessary skills to transition into high-growth industries.
- Leadership Abilities- This degree develops your strategic thinking, vision, critical thinking and leadership qualities.
- Network Expansion- One of the benefits is your chance to build a vast global network through the alumni, faculty, and industry mentors. This may lead to new career opportunities, collaborations, and mentorships.
- Cross-Industry Knowledge & Employability- You can build transferable skills for switching across industries along with boosting your employability.
Also read: The Future Of MBA Education In Singapore
How upGrad Helps You Make the Right Career Change Decision with an MBA or Alternatives
upGrad Singapore supports career changes through continuous learning and upskilling opportunities. You will discover MBA programs from leading global universities with flexible online learning pathways. From experiential learning to personalised mentorship and career support, there are several benefits in store for learners at upGrad. You can also expect alternative courses that maximise your ROI, networking benefits, applied learning, hands-on projects, and structured decision frameworks for the best possible career choices.
Here are some courses worth considering:
Related Article
Executive MBA vs. Traditional MBA: Which One is Right for You in Singapore?
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FAQs About Pursuing an MBA During a Career Change
Yes, an MBA may help you strategically switch industries with transferable skills, leadership abilities and foundational domain knowledge.
It depends on the type of MBA course you’re opting for, i.e., full-time, part-time, online, etc. However, it may take 2-3 years to recoup the cost in case you find a lucrative job after graduation.
All three may be suitable, depending on your specific needs. However, part-time and online programs may suit you if you wish to pursue your current job and studies simultaneously.
Yes, many MBA programmes from reputed institutions come with projects, internships and hands-on learning opportunities. These help you get a grasp of the job requirements in new fields.
If you cannot afford a full-time MBA or are unable to spare time for the same, consider a flexible online MBA course. It enables self-paced learning and also costs less. You may also look at options like specialised master’s degrees, technical or industry-oriented training programmes and so on.
