by Robert Donnelly

Created on: January 23, 2009

There are two things in life that you do not miss until you need them. One is insurance and the other is education. Not too long ago a college degree was the minimum educational requirement for entry into corporate America. Today, however, to be considered for certain executive positions the bar has been raised to require an MBA, or MS for certain technical positions. In addition, if you have an undergraduate degree in a technical engineering discipline to move up the ladder into management the MBA is the typical vehicle needed to add the business basics to your skill set.

These days, many university's are offering the MBA as a timely extension of the undergraduate degree. Most have been promoting a 5 year program encompassing the undergraduate and graduate MBA as part of the new term for students interested in careers in business. In many ways it makes sense and certainly avoids the risk that many take by never going back to school for their masters degrees. On the other hand, to get the full appreciation of the value of the MBA it is better if you study for your MBA after you have had some work experience so that you can have a greater understanding and application of the MBA fundamentals to what you already have already done in your career. This is especially true for engineers.

The other real value of returning to get your MBA as a junior or middle manager is that you are introduced to a new collection of peers that usually becomes a critical part of your "network" for the future. Some universities actually require a certain amount of work experience as part of their criteria for being accepted to their MBA programs. In addition the exposure to the typical faculty members that teach in MBA programs represents another set of prospective mentors and networking opportunities. These faculty members are also usually involved in research and with organizations as consultants that could be another door opener for you.

Lastly, the courses in most MBA programs and the deliverables require a level of analysis, research and teamwork that can be an invaluable learning experience for you. The majority of MBA programs have a Capstone course that exercises all of the course material that you have learned in the typical MBA. And to really top it off there is also usually an Entrepreneurship elective where you can develop a business plan for an idea that you have probably had for a business for quite awhile, which is another great opportunity to apply what you have learned during your MBA experience.

Since you also move through most MBA programs as a team typically called a "cohort", the value of the team aspect of management is reinforced by your MBA experience. There are many projects and team presentations, as well as team competitions associated with almost every MBA course. There is a substantial time commitment to getting your MBA that needs to be clearly explained to your family before embarking on the completion of this particular degree.

You also need to realize that once you have your MBA you need to do something with it other than have it framed and hung on the wall. Unfortunately, the achievement of getting your MBA does not automatically qualify you for an immediate promotion with your current employer. Often, you have to look elsewhere to capatilize on the value of your MBA degree.

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