Is an MBA worth it?

For many people, deciding whether or not to go for an MBA can be a confusing and time-consuming process. Not only can the studying for an MBA be a little bit beyond your available time or affordability, but it might just not be for you. Before you decide whether or not you would consider committing your time and effort to earn your MBA, you’ll benefit by taking an honest inventory of the major pros and cons of pursuing this venture.

For some people, it’s a must-have; something they see as an investment well worth making. For other people it can become a needless diploma that serves no practical use. To help you make sure you are making the right choice, we’re going to list some of the most important positives and negatives that will affirm or forgo your choice to earn an MBA.

Then, you can decide if an MBA is worth your time, money, and efforts.

The Pros

For one, an MBA can be a powerful way for you to network. Doing an MBA is like a networking dream – you’ll meet others in the field with similar interests and experienced professionals with golden advice. Those who are successful and are already doing what you want to do will give you a deeper insight into potential future. Everybody takes their own path, and the wise will harvest all they can from people of various backgrounds and lifestyles. When you network in your pursuit to earning your MBA, there is little doubt that you will come across a varied group of pros, who each will challenge your existing paradigm. You’ll meet good people, make new friends and perhaps find that your future direction will be influenced from someone you had an interesting conversation with along the way. Always remember, any direct connections you make in your journey may result from an opportunity made available to you through an indirect connection – a-friend-of-a-friend’s-colleagues-wife, for instance! The relationships and connections are often the most powerful part of an MBA for many people – they can be the link that takes you from potential success, to certain success. The people that you meet along the way are invaluable to your future. You’d be surprised at how many current MBA holders in many areas can point to a specific bit of advice, conversation, or connection that they consider to be the defining moment of the path they chose.

Another positive to getting an MBA is that it can put you on a fast track or different playing field as you begin to search for your ideal job. In other words, you may get the interview because of that MBA as compared to someone who does not. You may have recruiters knocking on your door because that MBA represents something to them about you and your job skills. Like everything on our resume’, any smart employer knows that there is a story behind those three letters – and many want to know that story! If you want to break into consulting, for instance, you’ll find that an MBA may be a perfect way to meet the people who are genuinely interested in you and want to hear all about how you got there and how you can help them. Never underestimate your story! Your MBA can allow you to get your foot in the door, which is the only way anyone who can help you achieve your professional aspirations hear your story.

Often we find ourselves “topped out” in any given career. This puts us in the position of only being able to move laterally in our profession. And believe me, there’s nothing wrong with that! But if you are wanting to transition into another sub-career or even an entirely different career, an MBA is a powerful credential to have. If you one day find yourself sick of what you do and want to move into something more challenging or exciting, an MBA isn’t an automatic ticket to new success somewhere else, but it certainly can’t hurt. Transitions can be stressful or enjoyable, and there is a certain sense of security ad confidence that come along with that endorsement. While others have backgrounds that speak “teach me,” your MBA could mean “I already know. Hire me.” As a potential employer. I’d prefer someone who needs less “teach me” almost always. Quite frankly, many employers are looking for employers who can teach them! Depending on your field, this could be a win-win situation for a company, and a lucrative financial and “other” environment for you.

The Cons

Obtaining an MBA is hard work, so narrowing down the possibilities in which route to take is challenging, and you don’t want to end up somewhere you regret choosing. Not all programs follow the same curriculum or same standards of expectation, and thus come with a reputation attached to them. An MBA from college “Y” may not hold the same weight as an MBA from college “Z.” many will tell you it doesn’t matter where you get it. I won’t. It does. Every year, thousands of MBAs are handed out – not all of them are worth remembering and some could actually hurt rather than help your future goals. A school with a strong reputation is a brand, like it or not. Just the same as a school with a weak reputation. An MBA is an investment, and if you want the best, pursue the best. This is a serious consideration to ponder. Do the upfront work and research schools, hiring rates, reputations, and quality. You might just be better off not pursuing an MBA and find other ways to achieve your goals. An investment in a life coach may not only be a better idea that bears a bigger fruit, but in the long run will cost you much less than getting your MBA.

Sometimes you will find that there is more than one way to success. An MBA can be a huge waste of time, energy, and money. Our delivery system for knowledge and expertise seems incredibly infinite thanks to new technologies. A lot of information that you will learn in an MBA program can just as well be self-taught, either through an apprenticeship you create and sell to a particular company or through many online resources – some of which are completely free! Many people spend huge sums of money for an MBA and leave with a diploma and little else. Research and ask about any MBA curriculum before you end up making any choice. Make sure the courses that you have put on your list of potential options fit with your goals. If they don’t, move on and look for other ways.

Finally, an MBA is not the same today as it will be tomorrow. In other words, there can be a shelf life to any particular MBA program. Skill, knowledge, confidence, creativity, and resourcefulness are long-term components of a valued mind-set. An MBA may decrease in value as you get older. Ideally, your experience will make up for that. But it hasn’t always worked that way for everybody. An MBA looked at in the rear-view mirror than it does the day you received it. It’s a diploma, but more so it’s an invitation to continue growing – lifelong education. Keep moving and improving, with or without an MBA

Making the Decision

With all of this in mind, it comes down to you; your goals, your dreams, your aspirations. MBA’s are expensive, but often worth it. But, as I said, MBA’s are expensive, and sometimes not worth the paper they are printed on. Look for an expert in your field, talk with people in MBA programs (students and professors), network regardless of if you decide to earn an MBA or not, get your resume’ evaluated and updated regularly. Invest in a coach, someone who is objective that can give you strategies to get where you want to get! So is an MBA right for you? There’s only one way to find out – hire yourself as your own personal investigator. You’ll have your own list of pros and cons before you know it! And then you can make the decision that’s best for you.