Postsecondary education is an excellent option for individuals looking to expand their knowledge and polish their skills. A Master of Business Administration (MBA) can give you the necessary skills to excel in leadership positions.
However, returning to school can be daunting, especially when it’s been a while. Many people wonder When is it too late to get an MBA? Let’s answer this question with statistics, industry insights, and tips for prospective students.
How Long Does an MBA Program Take?
First things first, how long does an MBA program take? The answer varies. Full-time students can complete the program in two years. In comparison, part-time students take three to four years. Moreover, accelerated MBA programs can be completed in as little as 12-18 months.
After the COVID-19 pandemic, the popularity of online degree programs has experienced an uptick, and MBA programs are no different. Most full-time, online MBA programs take about two years. However, depending on your experience and previous degree, you can transfer credits and fast-track the timeline.
Knowing how long an MBA program takes can help you prepare accordingly. Take a thorough look at your career ladder and see which timeline is perfect for you.
Average Age for MBA Students: Statistics
The average age for upcoming MBA students is 28 years old. However, this is not the full picture. The average age varies depending on the type of MBA programs. For example, for online and executive MBA programs, the average age is 34 or 38 years old, respectively. At the University of Phoenix, the average age of a new MBA student is 38 years old. If you’re still thinking about numbers, the University of Phoenix has written a detailed blog on when is it too late to get an MBA. You can give it a read and clear your ambiguities.
Am I Too Old?
The average age is just that, an average. It doesn’t determine what age you should be to enroll and receive benefits. Remember that some of the best MBA programs from top business schools have a wide variety of students from all ages. Each contributing their knowledge and gaining practical experience to excel in their fields.
Younger students might lack industry insights, but they will likely bring more theoretical and academic knowledge to your program. However, older students with some years of corporate experience can enhance their career prospects and expand their professional networks.
The bottom line is that an MBA program can provide value at any stage of your career. Whether you’re a fresh graduate looking to build a strong foundation for your career or an older professional wanting to take on leadership roles, an MBA can build self-confidence.
Tips for Applying to an MBA Program
Applying to an MBA program as an older professional can be challenging. Consider the following tips to streamline the process:
- Set clear career goals and determine what you wish to attain from the program.
- Learn to balance your professional responsibilities and studies.
- Reflect on your previous years as a graduate and full-time employee to build a strong application and increase your chances of getting into a prestigious business school.
- Look into employer reimbursement programs if you’re facing financial issues.
- Demonstrate your eagerness to learn to the admissions committee.
Pursuing an MBA degree can help you excel at your current role and become eligible for high-paying opportunities in the future.
