To MBA or Not MBA
November 13, 2008
MBA degrees have been a frequent topic of discussion for me. I am often surprised at the pay increases people expect upon graduation based on what the school who “sold” them their degree say they are worth. The logic here is a bit off. Most schools present MBA students with best case scenarios and there is a reason: the students are spending a lot of money and the school is trying to present them with some kind of return for their hard work and dedication. This is no better than going to see a financial advisor and them telling you about all the people who made millions investing in technology companies without telling you about the people who lost money.
I found this article and I thought she was spot on regarding MBAs. (My disclaimer: I find Penelope wildly off the mark more often then I agree with her) . I think this is reflective of the new attitudes regarding MBAs and the diminishing return on the hard work and financial resources that are required to complete this type of degree.
Linked to this article I found another good resource that highlights the reality of when it probably doesn’t make sense to get an MBA. I am in no way saying that you won’t be smarter for getting a better education and you may even be better at your job. Neither of those things automatically guarantees that you are going to get paid for the time and effort you spent on your degree. At a minimum you should think long and hard before investing your money, time and effort. I also recommend that you talk with a good recruiter in your industry to figure out if you had an MBA today how much more qualified would you be for the jobs you want and how much more money could you expect to get? You should also talk with your current employer and find out how much they would increase your compensation if any when you completed your degree?
What you might find is an excellent project or working for a great company might boost your market value as much or more than an MBA and might require a lot less investment on your part.
