Should I get an MBA?
High-achieving, accomplishment-oriented, career driven people will often ask themselves at one point or another, should I get an MBA? This is an expensive question. Not only for your wallet & your financial wellbeing, but your time, which arguably, is the most precious resource you have. When people ask, should I get an MBA? The root of the question is, really, will it be worth it? That’s a tough (impossible?) one to answer, and you’re the only one who can untangle it.
A coach might ask you…
What’s your motivation to get an MBA?
What do you hope to achieve by going back to school?
What support would you need?
What information do you need to make the decision?
If you say yes to an MBA, what are you saying no to?
What alternative options could you consider?
As you’re unpacking your motivations and doing your research, I recommend you watch out for 2 common scenarios:
1) Only asking MBA grads about their experience. When someone is thinking about going back to school, they’ll usually start informally interviewing colleagues and friends who have an MBA. They’ll ask good, thoughtful questions about the value of the experience, pros/cons, how it helped their career, etc. Which can be really useful.
>> But here’s my challenge to you – expand your perspective! Find someone who dropped out of an MBA program, and find out why they quit. Or applied, but never went. Or someone who opted for a faster & cheaper certificate or master’s program, and ask about the value. Find someone who regretted it. Find someone wildly successful without one. Get a bigger picture of potential paths.
2) Assuming an MBA is the “only” or “best” way to achieve X outcome. Counter this by brainstorming more options. If you’re looking to switch careers or expand your network or broaden your mind or deepen your skills, there’s plenty of paths to take. You could join an industry or undergrad alumni networks, get involved in a nonprofit, audit one course, and so much more.
Personally, I did get my MBA from NYU, which I did part-time on nights & weekends while working full time. It cost a lot of $$ and a lot of time. I had fun, worked hard, made a few great friends, took a few amazing classes and suffered through a few terrible ones. At times I regretted it, and at times I was so glad I did it. Was it worth it? Still figuring that out.
