The Benefits of an MBA Education
An MBA is a professional degree. It will help you accelerate your business career and it will also create many opportunities for career switches into highly-sought-after positions in consulting, investment banking, and venture capital.
In two years, you will become well versed in such areas as finance, management, marketing, and strategy. You will also learn a whole new way to analyze business issues and you will be exposed to powerful techniques to help sell yourself to your full potential.
If the economy is not showing signs of accelerating significantly anytime soon, then these two years (assuming you attend a traditional two-year, full-time MBA program) sharpening your job skills, improving your résumé, and expanding your network looks even more attractive.
In addition to giving you additional career flexibility and helping you switch occupations, an MBA from a top business school will increase your earnings potential by over 150%. It’s pretty tough to do that by staying with your current employer for an additional 2 years!
MBA Career Choices
In the short term, an education from a top MBA program can help you gain valuable work experience with an employer such as a consulting firm, investment bank, or venture capital group. You will also have opportunities to work for a more “stable” Fortune 500 company in the business planning, investor relations, or corporate development departments.
In the long term, these valuable experiences can certainly position you position yourself for a senior-level management position. What is not always widely known about a business school education is that it can also help you in more non conventional ways. By sharpening your analytical skills, you will be better suited to excel in the government and non profit sectors, although admittedly a public policy degree will do at least as good a job in this endeavor.
MBA Choices: Full Time, Part Time, or Executive
Each of these 3 MBA program choices has its benefits and drawbacks. Going full time will allow you to concentrate more fully on your class work. It will also make a summer internship (which can be critical in executing a career switch) crucial.
Part-time programs can be less intensive depending on the workload from your employer. The income can also make the entire experience less financially stressful and many employers will cover the tuition costs.
The executive MBA program is best suited for applicants with more senior level work experience. The classes are taught at the “50,000 foot view” instead of the “10,000 foot view” used in the part time and full time programs.