Sunday, June 24, 2007

Why do a MBA?

There are many good reasons to consider doing an MBA. There are also many good reasons why you shouldn't undertake an MBA. There are quite a few websites that list some of the reasons for and against signing yourself up for at least a year of late nights, group work, and excel spreadsheets. Some of them are listed below.

From a personal point of view, I'd suggest that one of main reasons people choose to an MBA is a big paycheque at the end of the process. However, a big bonus and a high salary post-mba isn't guaranteed. It's a very cut-throat industry in some of the highest paying professions and more than a few people determined to become investment bankers have quickly discovered that after putting in two years of hard work to get there, the job of an investment banker isn't for them.

An MBA is ideal for someone who's been out in the workforce for at least a couple of years since they graduated from University and looking to either push their career forward or change their career path. Engineers looking to move into the management side of the field, science majors looking to get the business skills needed to float their own product, or entrepreneurs looking for the skill set to maintain and grow their current venture are all ideal candidates for an MBA.

Your best bet is to think long and hard about what you expect to achieve from doing an MBA and then checking with a few of your ideal schools to make sure your goals are realistic. Chances are if you upfront about what you hope to achieve, schools will be very honest and let you know if your best served not spending two years returning to the life of a student.

Either way, here are some links to other posts about considering an MBA:

http://www.workthing.com/career-advice/training-development/mba_isitforyou.html

http://www.mbajungle.com/main.cfm?inc=inc_article.cfm&chid=1&schid=5&WT=15

http://www.mba.com/mba/AssessCareersAndTheMBA/SeeYourselfasanMBA/FirstStepCareerLeader/WhatMakesaGoodMBACandidate.htm

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