Women and the MBA

MBA classes at Wharton and Harvard both have a record number of female MBA students. Since more women are getting their MBA, you may be wondering if an MBA is a good option for advancing your career.

The versatility of an MBA means that it will be helpful regardless of the career path you decide to take. Big corporations aren't the only companies that hire MBAs. Non-profits, healthcare organizations, small companies and government offices are also hiring MBAs. Women like the designer Ruthie Davis,  Pinkberry's co-founder Shelly Hwang, and Benefit Cosmetics' founders Jane and Jean Ford have used their MBAs to help build successful businesses. The versatility of the MBA has also allowed women MBAs to choose industries and positions that give them a better work-life balance.

Earning an MBA creates new career opportunities in the business world. The general management expertise you gain from your business school education will increase your chances of rising up to the senior management level.

Salary increases are often another result of getting an MBA since MBAs are usually among the highest paid workers in the US. According to Poets & Quants, the salaries of MBA women in the class of 2011 increased 45% over their pre-degree salary.

There are more scholarship opportunities for women who want to get their MBA. In order to level the business playing field, organizations such as the Forte Foundation provide scholarships and events designed for women to get their MBAs.

Lastly, now is a good time for women to look into business school because enrollment at several top schools is up as a result of efforts to increase female enrollment. According to the Wall Street Journal, 45% of Wharton's incoming 2011 class is female compared to 40% the year before. Harvard Business School also has a record number of female students -- 39% of the Class of 2013 is female. Wharton's Deputy Director of MBA Admissions, Ankur Kumar, says that the increase in female students is the direct result of recruitment efforts, including visiting days for women and information sessions at all-female colleges. Other well-ranked business schools, such as R.H. Smith and the Simmons School of Management hold events designed specifically for female MBA applicants.