Deciding whether one wants to put in the time, money and effort into achieving an MBA depends entirely on how the person views his or her career path and whether or not they believe that there is room for improvement after having obtained an MBA. Many believe that working towards an MBA and furthering one’s education can increase income as well as helping those establish a start-up company. For instance, two examples of successful start-up companies that were established by MBA graduates include Yelp and Angie’s List.
Many people who are in the midst of deciding whether or not to apply into a MBA program will look to billionaire Warren Buffet for inspiration. In 1947, Buffet began the MBA program at Harvard University and even though he dropped out of the program a short two-years later, he credits all of his success and wealth to the knowledge he was exposed to during that time.
Students that are in MBA programs typically already have successful careers in the business world, however, it is during this educational period that many are exposed to an encouraging and heeding network. A majority of these students maintain that there is plenty of value obtaining an MBA degree due to the fact that during the program, you are exposed to a network of professors who encourage and listen to ideas, help make job recommendations, and provide one-on-one mentorship.
To pursue or not to pursue:
When deciding whether or not to invest in an MBA degree, many students are given the advice to seek direction from those they trust in the financial world. However, with that said, while pursuing an MBA degree, one can not rely solely on the advice of others as there has to be a degree of self-examination. This is of preeminent importance as an MBA is a demanding program that lasts a minimum of 18 months to two years, therefore it requires dedication and temperance. Before applying to an MBA program, it is important to bring to light your value on the corporate ladder, as expenses are often financed by employers and roughly only 10% of applicants who apply to the top ten MBA programs are accepted.
Though it is a demanding program, the opportunities that are waiting for students upon completion of the degree are more than worth the hours. Recruiters from consulting firms, investing banking, venture capital, and insurance underwriters all admit that MBA graduates are the favorable candidates when hiring. With that said, even though there are positives aspects to having an MBA, there are still various negatives. For instance, over the years, there has been a stigma surrounding the attitudes of MBA graduates. Many believe that the 2008 economic decline was caused by MBA graduates as they lacked the respect for money belonging to others and had no knowledge of ethics.
The success and future of an MBA graduate has, over the years, started to focus primarily on whether you are accepted into one of the top ten schools. If the applicant has not been accepted by one of these schools, then they are not typically considered by recruiters of major firms. Due to this stigma, many MBA hopefuls are either forced to change paths, settle for a lower annual income, or claim a spot in boat of unemployment and be faced with a massive student loan debt.
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