Is Business School Right For You?
Nealeigh Mitchell l ManagerLink
Step 1: Is It Necessary?
While it’s hard to quantify a degree’s worth based on advantages and disadvantages, you should carefully examine all details before deciding. For at least two years, you will be wed to your school and other students.
Determine whether an MBA makes sense for you as an investment!
Add up the costs of getting the degree minus the lost salary (if that’s the option you take) against your earning power when you graduate. If you invest a grand or more into a full-time stint, how long will it take you to get your money back? Will your be more confident with a degree in hand? How will it affect your family life?
So Why Do It?
Credentials – the MBA is evidence of a commitment to the management profession. The field has become so competitive that it’s no longer possible to wing it. A degree shows you are serious about your career.
Professional Security – While the number of MBA’ers who can’t get jobs in corporate America is rising, you still have the benefit of professional security. Think of the degree as an asset.
Job Placement – Businesses have a real interest in landing you a good job after graduation.
Higher Starting Salary – Plopping down a life-time’s worth of savings can be a daunting step but know that graduates do earn more than non-degree holders right out of school.
Social and Business Networks – Graduates from credible business schools will have a leg up if the recruiter recognizes the program. It’s also likely you’ll be working with fellow alumni down the road. Scratch mine and I’ll scratch yours!
But Bill Gates Didn’t
Yes, you CAN become a wildly successful business owner sans MBA. Just ask Steve Jobs. A degree is not an automatic passport to success or a fat paycheck. You can definitely get along without it. Remember, an MBA’s worth is often situational. Go over the pros and cons of the commitment with a fine-tooth comb and weigh them against your longer-term goals and whether an MBA will help you achieve them.