Despite some reports to the contrary, a graduate business degree is a valuable asset in one’s career advancement. Here’s why.
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This is another example where numbers never lie. I am glad that the pursuit of my MBA is not in vein despite the chatter of the general public saying that graduate degrees have lost value because of the increasing number of candidates.
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I have worked for a major multinational corporation for 30 years and have an equivalent in experience of an MBA. When the job market is tight as it is today, distinguishing yourself with an MBA degree can mean you get to keep your job or get the job over someone who does not.
If you can afford to go to a top university like Hofstra’s Zarb School of Business for an MBA (or Columbia, NYU, Harvard, Wharton, MIT, Tuck, Stanford, Chicago, or Northwestern, et al) great!
Otherwise, put that $100K in a mutual fund and get going with your carreer!
I wish this article went further to answer the question, when is the best time to get your MBA? I would like to see if there are any statistics that show the benefits of getting an MBA right after undergrad, or if there are different results for those who get it later on in life. I believe that many college students are looking to get out and start paying off their undergraduate loans before they consider more schooling. Having a MBA is definitely a plus, but the opportunity cost for graduate school might be too high for those just leaving undergrad.
There’s no one size fits all answer. A lot of factors should go into a decision, including the current job market, the ability to do a combined UG/Grad program and save some money, the major of the undergrad degree, etc. It’s always good to seek out advice on your particular situation from professors, the career placement office, and online articles that lay out the pros and cons.
I feel that in today’s job market it is important to have something to distinguish yourself from others. As competitiveness grows, these numbers and the fact that I plan to pursue an MBA are nothing but reassuring.
Thank you very much for sharing this. I found it very interesting! I was thinking of not doing an MBA but now I’m considering it as a possibility. I feel that it is a great idea though, to work for a few years after getting a Bachelor’s degree and then enrolling in an MBA so that the what we learn throughout graduate school we can understand it better by applying it to our real work life experience. There is a lot of competition out there, so the more prepare we are, the better.