Is Getting An MBA Really Worth Your Time and Money?
An MBA takes commitment and dedication, in the form of both time and money. If you’re serious about your career and lack the connections to make it possible, then an MBA might be worth your time. However, if you’re already within grasp of your dream job, then you might not need one. You really need to evaluate your professional goals and current financial state in order to make the right decision. The following points will help you determine the best course to take when it comes to deciding if an MBA is right for you. If you need further guidance, check out the literature at thebestcolleges.org on MBAs and business school.
1) What Career Do You Want in Life?
This is the question to end all questions. However, you really should think about what you want your career to look like a year from now, five years from now and ten years from now. Do you want to be a high powered executive? Do you want to create a company that will change the way people think? If so, then a MBA might be good for you, because it will help you hone in on your management skills and understanding of business. However, it could also inhibit your creativity and keep you from your full potential. Do you thrive in competitive atmospheres like an MBA? Are you better off developing your entrepreneurial skills alone? Only you know the answers to these questions, and it will take plenty of soul searching to find the right answer.
2) Do You Have the Financial Resources?
An MBA can be an expensive waste of time if you don’t end up using it. You need to think about your life and its current limits. Can you afford to take out the loans needed? Do you really want to work in business? Don’t get an MBA because you don’t know what else to do with your life at this moment. That would be a waste of your education and your professor’s time. An MBA is not a time to reflect – it’s a way to go after what you want.
3) Do You Have the Time and Energy?
An MBA can take up two years or more depending on whether you’re a full time or part-time student, the nature of the program, your commitments outside school and more. Do you really want to sit in a classroom discussing theories when you could be actually working? You have to decide if writing papers and researching market studies is what you want to do in your spare time.
4) Are There Other Educational Opportunities Better Suited for Your Career Goals?
If you want to work in a specific industry already, you might not even need an MBA. In fact, a master’s degree or a program that teaches you specific skills might be better suited for you. For example, if you want to work in the art-business world, consider doing an internship or an art managements course. It will teach you about business, but the world you want to enter more specifically. Sometimes you don’t need an MBA, because there is a better educational solution for you, or work experience may be even more valuable.
Joseph Rodriguez writes about business and education. He is a graduate of the University of Iowa and lives in Philadelphia.