Getting an MBA is not the right decision for everyone. A Forbes opinion piece a while back gave a thumbs down to the MBA route. And it made some valid points. The true key to success is indeed mastering the process of idea and solution discovery. And if you can figure that out to the degrees necessary for your success, then maybe you should save the $150k!
On the other side of the equation, of course, a lot of people over the years have found that the rigors of a structured learning experience, such as provided by an elite MBA program, is just the place to learn such skills and aptitudes. That though is not the only relevant consideration.
Here are a few more queries to put to yourself.
Let's say that you put absolutely no value on the academics. Surely, though, you value having a strong business community network. What other experience is going to give you one like an MBA will? The business superstars frequently come to guest lecture at the top schools. And even more important than their talks is the opportunity to socialize, which is never squandered. Furthermore, don't forget about your peers. Many of them will turn out to be the superstars of the future.
Making these great connections while you're all still climbing up the industry latter will great a camaraderie that will serve you a lifetime. (Though, this does require, as we've emphasized elsewhere, choosing the right program for your chosen industry). And don't forget too the special perk of an MBA: a strong, influential alumni association.
Have you considered the blank slate effect? Obviously, graduating from an MBA program doesn't mean that in any way your past experience is erased. However, neither are you limited to or constrained by it. When the potential employer looks at you freshly out of your MBA program, they don't look at your past work history as a summary of your future potential.
Instead, that work record is just supplementary to a potential colleague who has taken the initiative and exerted the discipline and work to equip themselves with a whole new set of skills, knowledge and professional connections. You're now a freshly wrapped and exciting promise of new possibilities.
Finally, though it might at first seem a bit esoteric, there's a lot to be said for a person who demonstrated the ability and willingness to step outside of their comfort zone? It's great to talk about challenging oneself, people talk about it all the time. Doing it, and showing everyone you are doing it, is another matter. Entering an MBA program is a statement about your ability and willingness to take on unprecedented challenges. Don't think it doesn't go unnoticed.
When someone carves from their demanding, busy life the time to concentrate on personal improvement and advancement, people who matter notice. Placing yourself in a situation which will demand the best of you builds character and reputation. If you can do that all on your own, then by all means have at it. In truth, though, how many people simply fool themselves, forever putting the day of their big self-challenge off into an indefinite future? No one will accuse you of that.
It's probably true that a lot of money and time is wasted on MBA pursuits that might have been better left unfulfilled. However, even aside of the curriculum there are many subtle, though extremely beneficial, perks of an MBA which it would be a mistake to underestimate. These are some the questions you should be asking yourself to be sure that it's the right choice for you.
On the other side of the equation, of course, a lot of people over the years have found that the rigors of a structured learning experience, such as provided by an elite MBA program, is just the place to learn such skills and aptitudes. That though is not the only relevant consideration.
Here are a few more queries to put to yourself.
Let's say that you put absolutely no value on the academics. Surely, though, you value having a strong business community network. What other experience is going to give you one like an MBA will? The business superstars frequently come to guest lecture at the top schools. And even more important than their talks is the opportunity to socialize, which is never squandered. Furthermore, don't forget about your peers. Many of them will turn out to be the superstars of the future.
Making these great connections while you're all still climbing up the industry latter will great a camaraderie that will serve you a lifetime. (Though, this does require, as we've emphasized elsewhere, choosing the right program for your chosen industry). And don't forget too the special perk of an MBA: a strong, influential alumni association.
Have you considered the blank slate effect? Obviously, graduating from an MBA program doesn't mean that in any way your past experience is erased. However, neither are you limited to or constrained by it. When the potential employer looks at you freshly out of your MBA program, they don't look at your past work history as a summary of your future potential.
Instead, that work record is just supplementary to a potential colleague who has taken the initiative and exerted the discipline and work to equip themselves with a whole new set of skills, knowledge and professional connections. You're now a freshly wrapped and exciting promise of new possibilities.
Finally, though it might at first seem a bit esoteric, there's a lot to be said for a person who demonstrated the ability and willingness to step outside of their comfort zone? It's great to talk about challenging oneself, people talk about it all the time. Doing it, and showing everyone you are doing it, is another matter. Entering an MBA program is a statement about your ability and willingness to take on unprecedented challenges. Don't think it doesn't go unnoticed.
When someone carves from their demanding, busy life the time to concentrate on personal improvement and advancement, people who matter notice. Placing yourself in a situation which will demand the best of you builds character and reputation. If you can do that all on your own, then by all means have at it. In truth, though, how many people simply fool themselves, forever putting the day of their big self-challenge off into an indefinite future? No one will accuse you of that.
It's probably true that a lot of money and time is wasted on MBA pursuits that might have been better left unfulfilled. However, even aside of the curriculum there are many subtle, though extremely beneficial, perks of an MBA which it would be a mistake to underestimate. These are some the questions you should be asking yourself to be sure that it's the right choice for you.
About the Author:
Thomas Ryerson provides excellent analysis of program rankings at the blog site Undergraduate Business School Rankings.
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