Do I need an MBA?
So we’ve survived the lean years and now started to make inroads in the fledgling recovery, but still feel that our career is stagnating? Can an MBA can significantly improve your prospects and future earning power?
It is said that one of the best - and proven - methods of getting ahead in business is to study for an MBA. Although they have lost their cache a little due to every college and his dog offering an MBA course, if you choose your business school wisely you will certainly get an edge on your fellow executives. This is why increasing numbers of managers are now looking to an MBA to get ahead.
The rewards are obvious. Completing a course that teaches everything from making presentations to creating a strategy and marketing plan in a competitive environment and setting up information systems to monitor risk, means that there will always be a demand for MBA-qualified staff in all sizes of companies.
As well as getting an MBA you get to study, network and work with fellow executives from around the business world. Most business schools also have very strong alumni networks, and you can create a useful network of contacts (fellow students, lecturers and even speakers invited to campus) who could help you throughout your career
An MBA though can be a significant cost, both in terms of time and money and, unless your company is financing it, you could be the one paying for both.
So before you embark on a potentially life and career changing course you need to ask yourself why do you want to study for an MBA? Is it to have the three letters after your name, or do you actually have a career plan that completely a course will significantly advance?
Traditional industries and sectors (energy, pharmaceuticals, finance and food) are still solid MBA recruiters and offer sound commercial and operational management expertise. Students need to decide whether they want to be sector entrepreneurs or entrepreneurs in general.
Current students should not expect instant career gratification and huge salary premiums as they did in the last economic boom, but if candidates are aiming for the top, then an MBA will ultimately not hold them back.
Choosing a Business School
With such a bewildering choice of Business Schools in the UK and overseas the best place to start will be with the Association of MBAs whose website - www.mbaworld.com is full of information and advice.