Should I Get an MBA?

It is important to understand what an MBA can add to your skillset before undertaking a program. Each program at different schools will range from significantly different to essentially the same, so it is vital to look at each one with these three factors in mind.

1.       What skills will the MBA give me?

Previously, management education focused on analysis in areas such as finance and operations, with little attention paid to other aspects of running an organisation. MBAs were often seen as out of touch with the real world or business. Today, MBA programs have special emphasis on developing leadership and interpersonal skills, providing a more vocationally-minded qualification.

You need to ask yourself if the MBA programs your considering provide the right type of practical training that will help your career present and future. You may find alternative courses and qualifications are available to develop the skills you need to succeed. An MBA is an expensive undertaking, which makes it vital to ensure you are getting what you want for your money.

2.       Will an MBA advance my career?

There are no career paths where an MBA is essential. MBAs are optional degrees that are designed to give managers and executives a competitive edge and add value to their résumés.  There are many senior professionals in big companies who don’t have MBAs, so don’t assume that the qualification will guarantee advancement in your chosen field.

You should map your intended path and see where the skills an MBA can provide will fit. If it is something that will give you an edge in your chosen field then it may be worth the time and money, however, don’t look at an MBA as a silver bullet for success.

3.       Will an MBA improve my professional network?

Business schools emphasise working in groups and MBA students often learn as much from their peers as they do from the school itself.  This makes it important to consider who you’ll be working alongside for the duration of the course and how those relationships will affect your career in the future. Schools often tout their alumni as a selling point and it is true that access to this network is one of the most valuable benefits an MBA program can offer.

However, not all alumni networks are created equal. Larger MBA programs yield larger networks, but can lack the tight-knit community feel a smaller one may provide. Again, you should look at your planned career path to see where the support of an alumni network would be valuable and research the size, style and accessibility at each different school. Some alumni networks are more active than others, so make sure you take a look at how, if at all, graduates communicate with each other.