The idea of obtaining an MBA attracts thousands of specialists around the world. Legends about brilliant career takeoffs, solid salaries and promising acquaintances inspire those who feel stagnation in the profession. However, the history of an MBA is far from guaranteed success, and before investing heavily in a business school, it is worth sensibly assessing its real benefits.
MBA as a ticket to a new world
Many see MBAs as a way to break out of their routine and accelerate their career development. Having mastered the basics of management, marketing, finance, and strategic planning, a graduate of the program hopes to become not only the best in his company, but also competitive in the international labor market.
It would seem logical: large companies love employees with a diploma from a top business school, and the best startups are waiting for fresh ideas from recently prepared managers. But does this path always pay off?
Status vs Reality: Life Lessons
The case of the first category: "I spent a lot, but nothing changed." One of the popular myths about MBA is that after studying, you will be immediately promoted or hired with double the salary. The reality is this: this plan only works with the support of the employer.
The story of one specialist who graduated from the prestigious INSEAD is a vivid example of this. He invested about €120,000 (including tuition, flights and accommodation) in a global MBA program, hoping that the result would be growth within the company, a dream offer from a big business, or at least a brilliant business idea. However, everything turned out to be much more prosaic: the company was not impressed by his diploma, headhunters offered only positions of a similar level, and a unique business concept was never born.
When an employer is willing to pay
Sponsorship of studying by a company is rare, but this model has shown its effectiveness. Many employers prefer to invest in specialists who can benefit the company here and now.
An example is a short professional course at MIT paid for by an organization. The $20,000 intensive program not only improved knowledge, but also became part of the company's strategy to develop a key employee. This approach turned out to be more effective than self-study.
Conclusion: if an employer refuses to finance an MBA, most likely, he simply does not see any value in this for the company. In this case, it is worth thinking: will studying in this particular place be useful for your career?
"Buy an MBA to get an idea"
Another common argument is that business schools help you find that very unique idea for your own business. It sounds tempting, but let's think logically: most ideas are born not in the classroom, but in practice, through experiments and trial projects. For the money spent on an MBA, you can sometimes launch several small businesses, and the failure or success of such projects will provide more insight into the real market than any theoretical program.
Of course, there are exceptions — some graduates find partners or projects right in university classrooms. But relying only on luck is risky.
MBA for Owners: Entertainment or Investment?
Another category is business owners who are willing to pay for an MBA from their company's profits. Here, the goal of learning becomes different: to expand networking, deepen knowledge in specific areas, or simply gain new experience. In such cases, an MBA can be considered a luxury purchase: yes, the costs are impressive, but they bring pleasure or even benefits to the business. After all, relationships that are built in top schools often grow into long-term partnerships.
When an MBA will definitely not justify itself
An MBA is not a magic pill, and it has its limitations. The program is unlikely to help:
- If you don't have a clear plan for how to use your new skills,
- If you are not ready to invest not only money in education, but also a lot of time,
- If your current career track suits you completely.
In addition, it is important to take into account the status of the diploma: intermediate-level programs do not give the very "steep jump" that many people dream of.
Should you choose an MBA or an alternative?
Instead of a traditional MBA, alternatives can be considered:
- Short specialized programs. They cover narrow professional topics, are faster to put into practice and are often sponsored by employers.
- Self-study. A huge number of high-quality courses, webinars, and books will cost several times cheaper.
- Experience in real business. Starting a project can usually teach more than any study.
Outcomes and recommendations
An MBA is a tool which brings results when used correctly. If you have a clear goal (such as moving into another sector, expanding your business, or pursuing an international career), a degree can be helpful. However, without a strategy, this move turns into a costly gamble. Before making a decision, it is worth assessing:
- Is the employer ready to support you?
- How will the studying affect your current job or business?
- Do you have a plan for the future?
For some, an MBA is a way to make a career breakthrough, for others it is nothing more than a prestigious item on a resume. The right choice depends only on your circumstances and goals!
