by Anshuman

Created on: April 18, 2008

MBA - 3 alphabets which has the potential to change your career if you make your moves right!
2 years back, I was toying with the same idea and I spent quite some time to think through the whole philosophy of getting an MBA and the value associated with it.

Now, I am back in the workforce and looking back at the 2 years spent at the school to earn my MBA, I am in a much better situation to answer this question. There are several reasons why I believe MBA is very important for oneself.

1) Cost: I agree that getting an MBA may be a costly proposition in the short term considering the hefty fees you pay at the top school. Besides, you lose 1-2 years of your salary which is another opportunity cost. But I bet any MBA expenses can be paid off in 2-4 years depending on the type of school you attend. From that point onward, it's a smooth ride

2) Time: The time spent getting an MBA, especially a full time MBA, is a big deterrent for a lot of people not to go for one. I would say the exact rationale varies from people to people but the time I spent doing MBA full time on campus gave me a lot of bandwidth of think about my future and gave me a nice little break from the daily chores of office life. For some people, it's not at all acceptable and a part time MBA should do the trick for them in which they don't need to be out of the workforce to get an MBA.

3) Career: Invariably, this is the most important aspect of getting an MBA. An MBA usually compensates for a lot of work experience and you get that edge of execution (written on a paper as your degree) which enables your prospective employer to put enough faith in you so as to entrust you with critical assignments. Your career takes on a speed lane and you do work which is much more visible to people who really matter.

4) Knowledge: This is also very important aspect of getting an MBA. In our regular job, we get so hung up around our job profile that we forget to look beyond. The curriculum during MBA gives you just that - an overall knowledge of how any business works. A lot of it may not be applied directly but it gives you a very good fundamental. You appear knowledgeable at work when you talk to finance, marketing, sales, operations or anyone. And believe me, it is very important if you want to reach the general management level fast.

5) Overall: I would put a lot of importance to getting an MBA in one's career for the reasons highlighted above. It gives you a very good fundamental where your incremental work gives you much larger output and you make a much greater sense of what's happening around you.

Go for it!

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