How Important is an MBA for Career Progression?

[SarahChan]

Hi Forumers, I've been working for close to 3 years now, I graduated with a bachelor's degree in marketing from a normal university, and now I am contemplating on taking further studies (alongside a possible career change). I am considering the possibilites of an MBA, and I've been doing some research on the cost benefits on such an endeavour - one article was particularly useful in helping me get a better understanding, let me share it here, http://www.coursesinsg.com/2012/06/m...now-about.html , but I'd still like to gather the opinions of people who have actually done an MBA program and ask them what they personally thought of the experience. Do let me know, thanks!

[CleeIB]

SarahChan - Assuming you're not a spammer advertising that link, MBAs are good for career flexibility. An MBA can potentially lead to many different jobs in different industries, as business expertise is necessary across all industries.

An MBA is also great for networking - you will meet many people that can potentially aid you later on.

I don't know this from personal experience, but a good number of my friends have completed MBAs and have said things to this effect. Good luck!

[maheshguruswamy]

I will probably get flamed for this. IMO, an MBA is overrated. Primary reason ; most MBA programs in average schools are very old fashioned. If you need a really meaningful MBA you need to get it from an ivy league. If your current boss will give you a promotion if you get an MBA or you know for sure that an MBA will give you a nice salary bump, go for it. If you are looking for just knowledge there are numerous resources available on the internet. If you really want to learn and apply what you will learn in an MBA program, float a start-up

[SarahChan]

Hi CleeIB, firstly, thank you for your sharing. Secondly, the real spammers!

Did you friend mentioned anything about the importance of finding out the quality of career services that a b-school provides its students and graduates? I chanced upon an insightful discussion in an MBA forum where the OP proposed that prospective students should inquire thoroughly the career support and opportunities that they'll receive during their time in the program -http://www.beatthegmat.com/imp-advic...ef00f3b684eea0

SarahChan - Assuming you're not a spammer advertising that link, MBAs are good for career flexibility. An MBA can potentially lead to many different jobs in different industries, as business expertise is necessary across all industries.

An MBA is also great for networking - you will meet many people that can potentially aid you later on.

I don't know this from personal experience, but a good number of my friends have completed MBAs and have said things to this effect. Good luck!

Hi Maheshguruswamy, I do agree that the effect of an MBA certification is rather limited if you get it from one of the many MBA mills that are churning out students for profit. Do you have an example of MBA programs in schools being dated?

Regarding starting one's own business, I feel that not many people would necessarily be willing to risk significant amount of time and money into a start-up as a means of learning more about business. You'd have to have a very high level of 'self-directedness' too.

I will probably get flamed for this. IMO, an MBA is overrated. Primary reason ; most MBA programs in average schools are very old fashioned. If you need a really meaningful MBA you need to get it from an ivy league. If your current boss will give you a promotion if you get an MBA or you know for sure that an MBA will give you a nice salary bump, go for it. If you are looking for just knowledge there are numerous resources available on the internet. If you really want to learn and apply what you will learn in an MBA program, float a start-up

[maheshguruswamy]

Hi CleeIB, firstly, thank you for your sharing. Secondly, the real spammers!

Did you friend mentioned anything about the importance of finding out the quality of career services that a b-school provides its students and graduates? I chanced upon an insightful discussion in an MBA forum where the OP proposed that prospective students should inquire thoroughly the career support and opportunities that they'll receive during their time in the program -http://www.beatthegmat.com/imp-advic...ef00f3b684eea0



Hi Maheshguruswamy, I do agree that the effect of an MBA certification is rather limited if you get it from one of the many MBA mills that are churning out students for profit. Do you have an example of MBA programs in schools being dated?

Regarding starting one's own business, I feel that not many people would necessarily be willing to risk significant amount of time and money into a start-up as a means of learning more about business. You'd have to have a very high level of 'self-directedness' too.

For e.g. an MBA in finance from a top school will cost you ~ 100k. But a CFA will cost you a fraction of an MBA and has more value than an MBA In finance. Real world example, if you join a financial services company, a CFA will be able to move up the career ladder quicker because a CFA can give financial advice to the company's clients but an MBA in finance will be on the sidelines until h/she gets a CFA. Another overrated program is the marketing programs in most schools. The rules of marketing and keep changing every year, primarily because of the explosion of data available to companies now and most if not all MBA programs are behind.

About start-ups. Yes you are right, some level of 'self-directedness' is needed. Its all about asking the right questions (to yourself and others involved in the start-up scene) and finding out answers via books, blogs, social media etc. High tech startups are relatively easy to float primarily because of the advent of cloud computing platforms but you are right about the time investment piece.

[Brent Jones]

SarahChan - Assuming you're not a spammer advertising that link, MBAs are good for career flexibility. An MBA can potentially lead to many different jobs in different industries, as business expertise is necessary across all industries.

An MBA is also great for networking - you will meet many people that can potentially aid you later on.

I don't know this from personal experience, but a good number of my friends have completed MBAs and have said things to this effect. Good luck!

I would have to agree with CleeIB.

There are a lot of different ways to advance a career. An MBA isn't an absolute requirement, but it certainly can't hurt.

I am a recruiter and I run a free blog that focuses on issues like this. Later this week, I will have be posting an article that talks about Jobs vs. Careers. If you want to check it out, you can go to http://www.jobgettingtips.com ...if you sign up for updates, you'll get an email automatically when I post it.

The important takeaway from the article I am posting is as follows:

Companies give jobs.
You build a career.

If you are struggling right now to find a job, an MBA is not the answer. Acquiring new skills to make you more marketable in your industry is key to building a career, but it is not a solution to gaining employment.

A job means you work for a company that values your skills.
A career means every company in your industry values your skills.

It might be a good thing to consider before investing a small fortune in another degree.

I hope that helps. Good luck SarahChan!

[redsnoopy]

MBA is a strategic degree, and for better returns on equity, it is good to take it early. During your career when you are being considered for thinking-level jobs or higher eanking jobs, if you have an MBA, and all things equal, you are one up against the non-MBA candidates.

BUT having said that, many successful careerists don't have MBAs, they use other strategic elements, eg building up precious skills.