Master of business administration (MBA) programs have attracted a wide variety of students over the past few years since the economic downturn. Professionals who want to improve their career trajectory and move into a high-paying position, career changers, and new graduates who have been battered by the poor job market and want to improve their competitive edge have all enrolled in MBA programs to build their skills and knowledge bases.

The question is, though, whether or not getting an MBA is a solid move. MBA programs are challenging, often requiring internship or immersion experiences in addition to classroom work, and cost thousands of dollars. Those considering continuing their education may wonder if the time and expense is worthwhile . . . and the answer is a resounding yes.

Job Opportunities

A survey by the Graduate Management Admission Council in 2011 found encouraging news for MBA’s graduating in 2012: the job market is expected to improve for MBAs, and be considerably better than that of recent years. Of the 216 companies from around the world that were surveyed, 74 percent of them revealed that they plan to hire MBA graduates in 2012, an increase of nearly twenty percent over 2011.

Those with specialized MBAs have the best chances of landing a job in 2012. More than half of the companies in the GMAC survey indicated that they plan to hire grads with specialized degrees, particularly in the areas of accounting and finance.

However, in order to land a job, experts warn, grads need to look beyond Wall Street. As many of the major Wall Street firms that recruited MBAs in the past, such as Goldman Sachs, J.P. Morgan Chase and Bank of America have been in the thick of financial crisis and have experienced mass layoffs, new MBAs need to know that the opportunities that may have previously been there are gone. Instead, those who want to work in banking and finance may be better suited to look toward smaller boutique firms and banks.

In fact, many smaller firms, that previously considered applicants with undergraduate degrees, specialized master’s degrees or management degrees are now looking to hire more MBAs, seeking the greater experience and knowledge base that MBAs bring with them. The GMAC survey also indicated that certain sectors hired more new grads than others – manufacturing led the way, as more than 75 percent of those looking for jobs in that field found jobs after graduation. Around half of grads looking for jobs in the products and services sector immediately got jobs after graduation.

And of course, the extra expense and effort required of getting an MBA is worthwhile, as companies expect to pay MBAs higher salaries than ever before. Competition for new grads is high – many applicants actually field multiple offers – and companies are “sweetening the pot” by offering higher base salaries and more earning opportunities.

International Appeal

More than ever before, opportunities for employment for those with a Master of Public Health, are available outside of the U.S., especially in Asia. MBAs are bound to have the same outcome. MBAs that have experience with international business, even perhaps studying or working overseas for a time may have an easier time landing jobs both at home and abroad. However, for international students that study in the U.S., the picture is not quite as bright. Many companies are hesitating to hire foreign applicants unless they already have permanent authorization to work in the U.S.

Considering an MBA?

If you haven’t yet applied to an MBA program, now might be a good time – provided that you can afford the courses. Applications to MBA programs are down, largely because of the cost associated with getting a degree. As companies slash budgets and trim expenses, many are limiting the amount of money offered for tuition reimbursement, meaning that the days of earning an advanced degree on your employer’s dime may be gone. If you can stomach the cost, though, now is a great time to seek the MBA. In response to the Occupy Movement and the economic collapse, many universities are incorporating discussions of corporate social responsibility into their courses, meaning that new MBAs are coming out prepared to handle the demands of today’s business environment.

Making the decision to further your education is not one to be taken lightly, but knowing that your MBA marketing degree will pay off in terms of job offers and higher salaries makes the decision slightly easier. Taking the time to get an MBA degree is sure to be worthwhile in the long run, as the economy continues to improve and hiring standards get tougher.

This article was written by Justin Davis who after obtaining an organizational leadership degree decided to go back to school and pursue his MBA online. He expects to have his degree by next year.