If you’ve been following my blog or are a classmate reading this blog you are well aware that I am about to finish an Executive MBA program. After spending countless hours over the past two years working towards acquiring this degree I can honestly say that I’ve developed some strong opinions on the pros and cons of getting an MBA.
- Price: An MBA costs a lot of money. The price of course is highly variable depending on the program you pick. MBA programs can cost anywhere from $12,0000 to $150,000 for the full degree. This price factors tuition, books, and some travel expenses if necessary. What it does not factor is any lost income during the time period. In order to allow enough time for coursework I needed to switch from a full-time job to a part-time. The idea with an MBA is that you’ll be making more when you graduate, but that’s not a guarantee.
- Time: The coursework takes a lot of time. I have pretty much been hibernating from all social and other engagements for two solid years. This is no joke. Yes, you do get some breaks but they aren’t for long. This needs to be considered if you have a family or other obligations that will have to get lower on the priority scale.
- Knowledge: The wide variety of coursework you learn is invaluable. I majored in Natural Resources for my bachelor’s so all the information was new. Each class in the program was really interesting and was valuable for understanding the inner workings of the business world. I know I’m walking away with in-depth knowledge that I will revisit throughout my career. I like to say that an MBA didn’t make me a skilled craftswoman at one thing, it provided the knowledge of the contents for my tool chest, and the knowledge of how to use the tools. This makes me better prepared for future business experiences.
- Career Opportunities: While it’s not guaranteed that you will find a better job once you’re out of school, I personally did, and many others I know have as well. An MBA simply makes you more marketable because it guarantees that you have received coursework in a variety of aspects of business.
Above is a very abbreviated version of the pros and cons of getting an MBA. To enter a program shouldn’t be taken lightly. I would highly encourage if you do decide to pursue your MBA that you fully dive into the program and make good use of your time. There are countless programs out there whether it be full-time, weekend, or online. The right program is a decision that’s based on your particular situation. If you have any questions about receiving your MBA, feel free to leave a comment below.