MBA or no MBA? This is a question well worth considering when taking into considerateion the investment of both time and money necessary to compelete the degree. An MBA is perhaps more than a first degree, worth weighing on the scale. Although most will tell you that an MBA is the one and only shotput up the career ladder, this may well depend on several factors. The success you gain from an MBA will depend on things such as your previous experience, education and what goals you hope to reach with the help of an MBA program.
In general however, an MBA will let you:
- Develop excellent knowledge and skills useful in business
- Work on and improve your people skills regarding communication and teamwork
- Become good at and used to working in a very pressured environment.
- Exchange knowledge with fellow students from diverse backgrounds
- Build a network among MBA alumni very useful in the business world.
MBA studies
Over the past decades, MBA programs have risen quickly in both popularity and number. In addition to those well known programs in the United States that have been in existence since the early 20th century, there are now excellent schools all over the world, well worth considering when choosing your desired program.
Due to the large number of programs started every year across the globe, program accreditation has become of increasing importance. Tough competition between schools, means that in order to compete, it is necessary not just to keep a high standard, but to have proof of this standard. When choosing a school and program however, it may be advisable to look beyond accreditation and examine the program to make sure its specialties fit your aims with enrolling in the course.
Most MBA programs have rigourous application procedures. Most require no simply good grades from a previous degree, but also a good score on the GMAT test. Although previous work experience is usually not a required prerequisite, it is generally recommended. Unless you have gained a lot of experience from internships and other relevant positions during your first college degree, it may be difficult to reap all the benefits of your MBA. Not only will your previous experience make it easier to tie what you learn to the real world, but it is also necessary to enter into many of the careers sought after by MBA graduates. Without previous experience, you might find yourself stranded after graduation, as although you have a good MBA, you still lack the essential experience required by many employers.
MBA careers
Most of those choosing to embark on the course of doing an MBA have a specific goal in mind. Generally this includes either furthering a career in business, or switching to a career in business from another field. Many ex military for example do an MBA in order to transfer from the military world into that of business.
Business careers vary widely. You can choose from many different fields, all of which you will find preparation for in most MBAs. If you already have a specific area of business in mind, there are plenty of MBA programmes that aim to prepare its graduates for a specific route.
Some of the potential careers are:
- Consulting
- Entrepreneurship
- Finance
- General management
- Government
- Human resources
- Information technology
- Non profit
- Operations management
Most MBA programs involve a lot of hard work, and require you to have an strong inner drive and ambition to take you to that top level. It is definitely worth giving your goals and aims a lot of careful consideration in order to make the best of your MBA. Choose a school where you will feel comfortable, that has an accredited degree - especially if you are looking for an international career - and that has a good teacher to student ratio. Last but not least make sure that the program you choose fits your career goals. Some programs are for example far more focused on marketing than HR and vice versa. Neither of these will give you the maximum benefit if what you really wish to work with is finance. Naturally many MBA programs are more general, and prepare you equally for all areas of business, which may be suitable if you are still unsure what particular career path will suit you best.
