Thu 6 Nov 2008
Going back to Get Your MBA: Necessary or Not?
Posted by Megan Dorn under Random thoughts, Small Business
Tough economic times are usually thought of as a great time for recent grads and displaced professionals to head back to school and get some more education. For a lot of people, that means getting an MBA. The problem with this is that shelling out big bucks for a master’s of business administration degree doesn’t mean that landing your dream job will be a breeze.
It sometimes seems like everyone and their mom is going back to get an MBA. Graduate business programs are awarding more and more of them every year, and because of that they’re losing some of their value.
The truth is, however, that an MBA has never really been a guarantee to top-executive status. Research done by BusinessWeek in 2006 found that fewer than one in three executives who held high-level positions in corporate America had an MBA. A more recent poll conducted by two Pace University professors found that out of 488 top companies only 159 CEOs had MBAs.
What’s really important is real-world experience and being able to deliver results. An MBA doesn’t necessarily give someone those qualifications.
In no way am I trying to discourage anyone from attempting to achieve his or her higher education goals. MBAs have a lot of advantages. I’m only saying that getting an MBA isn’t a must. It’s completely plausible to climb your way to the top without it.
November 6th, 2008 at 10:20 am
I would have to agree that getting real life experience would be money better spent than getting your MBA. Imagine putting the money you would have spent to start up a small business. You’ll probably learn a lot more and maybe grow a successful business at the same time.
November 7th, 2008 at 12:43 am
Hey!!
Many people obtain an MBA degree to advance their career opportunities and job prospects. With an MBA degree, endless and varied opportunities are available even in within your existing company as you maybe elevated to a managerial position (mostly top level positions), that would not be offered to those who only possess a diploma or Bachelor’s degree. This is based on your additional strength, abilities, skills and knowledge gained through the MBA program. An MBA degree is relevant to all industries and sectors, with many different types of employment opportunities available regardless of the career path chosen post-MBA.