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!
Of course, though, there's more to it than that. For one thing, we shouldn't soft pedal the number of people who have experienced the highly structured learning environment of an elite MBA program as exactly the milieu for mastering just such skills. That though isn't the only matter that has to be weighed in taking the measure of such criticism.
Here are a few things you might ask in assessing if an MBA is right for you.
Let's pretend the unlikely scenario that the academics are of little value to you. This may be misguided, but not impossible. What though about the benefits of a great professional network? Do you value that? Where else are you going to get the kind you will while doing an MBA at a top school? It's common for business superstars to come in as guest lecturers. And don't underestimate the opportunity to social with them that such schools provide. And don't forget your own classmates. Many of your peers will become the hot up and comers in your industry.
Here's a chance to make the kind of connections that will serve you a lifetime. And to make them while you're all still mounting the latter of success together, with all the camaraderie that comes with such shared experience. (Though, this does require, as we've emphasized elsewhere, choosing the right program for your chosen industry). Also, don't forget the networking benefits arising from an already successful alumni coterie.
Another dimension of the MBA experience you might not have considered is the blank slate effect. No one is saying, naturally, that an MBA in any way invalidates your prior experience. What is true, though, is that once you have that MBA no longer is your perceived value limited to past work experience. Prospective employers will see something very different when they take a look at you, fresh from graduating.
On the contrary, your work record now merely provides a supplement to a record of achievement that makes you a promising new potential colleague. Someone who was able to break the mold of their earlier life and take the initiative, exerting the discipline, to embrace an entirely new set of opportunities, with new skills, knowledge and professional connections. You're now a freshly minted promise of better things to come.
Another benefit that is easy to overlook is that which comes with challenging your comfort zone. Talk about self improvement and mastering the discovery of new ideas is great, but, let's face it: like all talk, it comes cheap. So no one can accuse you of cheap talk once you've taken the plunge into an MBA. You've removed yourself from comfortable routines and put yourself out there, where it's either put up or shut up. There's a lot to respect in doing that.
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.
Certainly there are cases in which money and time is squandered on MBA pursuits. Hopefully, though, these thoughts demonstrate that, even beyond the value of the curriculum, there are many significant benefits of an MBA. These may be harder to put a price tag on, but it would be a mistake to underrate the contributions they could make to your professional future.
Of course, though, there's more to it than that. For one thing, we shouldn't soft pedal the number of people who have experienced the highly structured learning environment of an elite MBA program as exactly the milieu for mastering just such skills. That though isn't the only matter that has to be weighed in taking the measure of such criticism.
Here are a few things you might ask in assessing if an MBA is right for you.
Let's pretend the unlikely scenario that the academics are of little value to you. This may be misguided, but not impossible. What though about the benefits of a great professional network? Do you value that? Where else are you going to get the kind you will while doing an MBA at a top school? It's common for business superstars to come in as guest lecturers. And don't underestimate the opportunity to social with them that such schools provide. And don't forget your own classmates. Many of your peers will become the hot up and comers in your industry.
Here's a chance to make the kind of connections that will serve you a lifetime. And to make them while you're all still mounting the latter of success together, with all the camaraderie that comes with such shared experience. (Though, this does require, as we've emphasized elsewhere, choosing the right program for your chosen industry). Also, don't forget the networking benefits arising from an already successful alumni coterie.
Another dimension of the MBA experience you might not have considered is the blank slate effect. No one is saying, naturally, that an MBA in any way invalidates your prior experience. What is true, though, is that once you have that MBA no longer is your perceived value limited to past work experience. Prospective employers will see something very different when they take a look at you, fresh from graduating.
On the contrary, your work record now merely provides a supplement to a record of achievement that makes you a promising new potential colleague. Someone who was able to break the mold of their earlier life and take the initiative, exerting the discipline, to embrace an entirely new set of opportunities, with new skills, knowledge and professional connections. You're now a freshly minted promise of better things to come.
Another benefit that is easy to overlook is that which comes with challenging your comfort zone. Talk about self improvement and mastering the discovery of new ideas is great, but, let's face it: like all talk, it comes cheap. So no one can accuse you of cheap talk once you've taken the plunge into an MBA. You've removed yourself from comfortable routines and put yourself out there, where it's either put up or shut up. There's a lot to respect in doing that.
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.
Certainly there are cases in which money and time is squandered on MBA pursuits. Hopefully, though, these thoughts demonstrate that, even beyond the value of the curriculum, there are many significant benefits of an MBA. These may be harder to put a price tag on, but it would be a mistake to underrate the contributions they could make to your professional future.
About the Author:
Thomas Ryerson write regularly for the site, Business Week MBA Rankings, check it out here.
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