Why Get an MBA

There are very good reasons to pursue an MBA: mainly to enhance your career. Here you will find articles and sites that argue an MBA is worthwhile

6 questions to ask yourself before taking the MBA plunge...

Choosing whether to go to business school is a big decision. On one hand, an MBA could propel your career or business. But it comes with a hefty price tag in terms of time, tuition and lost wages. Students, alumni and university staff gave us the lowdown on how to make the big decision of whether to take the MBA plunge. Here are six questions to ask yourself to help you decide. 1. Why do I want to get an MBA? Don’t just get a degree to get a degree, professors and students said. Instead, think about what you want for yourself over the next five to 10 years. “I think it’s important for [prospective applicants] to think about their career goals in a more long-term perspective. Candidates for MBA programs may say, ‘I want to go because I want to start my own business.’ But you know, life changes. Three years from now, their plans and aspirations may change,” said Stefanos Zenios, Stanford University’s Graduate School of Business’s director of the Center for Entrepreneurial Studies. “They may decide that they want to work for a large organization or a high-growth company. So they should take a holistic view of their plans — of what is plan A and what is plan B, and how an MBA will help them achieve those goals,” Zenios said. 2. Can I improve my leadership skills? Getting an MBA is just as much a personal decision as it is a professional one. Kyle Jensen, an entrepreneur himself and the Yale School of Management associate dean and director of entrepreneurship, said one of the most important questions is about leadership. “Do I need to learn to be a better leader? If the answer is...

Is an MBA really worth it? Billionaire Tilman Fertitta has your answer...

If you’re debating whether or not to get a Master of Business Administration, billionaire Tilman Fertitta has some advice for you. “Let me just say this, God gave me a gift of understanding business, but if God didn’t give you that gift and you want to be an entrepreneur and you want to be a business person, go get your MBA,” said Fertitta, CEO of Fertitta Entertainment, which owns Landry’s and the Golden Nugget casinos. Going back to school can be a difficult decision. Getting an MBA can come with a steep price tag. Tuition at top schools can reach north of $60,000 per year in addition to lost wages while away from the workforce. But what if you have an undergraduate degree in business? “[I] don’t even care if you major in business and finance, you just don’t get a grasp of the problems and the experience unless you get your master’s,” he said about undergraduate school. “And that’s just from dealing with people over the years that were young, that had an MBA or didn’t have an MBA that I could personally communicate with.” It’s all about knowing your strengths and weakness , he said. The self-made business titan definitely knows what he’s good at, and what he’s bad at. “I know that I can’t play a musical instrument. I know that I can’t change an oil filter on a car. But you can bring me any kind of business issue or problem, and I will detect it and tell you what the problem is and the solution within a few minutes,” he said. So is business school worth it? If you know you have a knack for business, Fertitta said, “Don’t worry about it.” tilm”I’m for...

5 Awesome Benefits Millennials Gain From Their MBA...

Congratulations! You’ve earned your undergraduate degree and have started your very first job out of college. Those all-nighters have finally paid off. After receiving my B.A. in English and Political Science from The University of Texas at Austin, I decided to put my degree to good use and sell women’s shoes at Nordstrom for six months. I eventually went back for a Masters Degree and found out that a background in English can actually get you far in the startup world as a Content Marketer. But enough about me. The point I’m trying to make here is that college grads don’t always know what career path they wish to pursue straight out of college. If you aren’t going to law or medical school directly after your undergraduate studies, you are suddenly left with a variety of random options and job paths. This in mind, millennials today are recognizing the value of pursuing a higher degree of education. Of course, additional degrees aren’t necessary in order to be successful, but they can open a door of opportunities that otherwise would have remained closed. Consider an MBA, for example. Sure, there are many well-known entrepreneurs (i.e. Elon Musk, Mark Zuckerberg) who have remained “MBAless” and have had wildly successful careers. Unfortunately, not all of us have what it takes to be the next Mark Zuckerberg. Time for an MBA? Paul Ollinger, stand-up Comedian and Author of the new book, You Should Totally Get an MBA: A Comedian’s Guide to Top U.S. Business Schools, uses humor as a vehicle to provide business school applicants (of all ages) with great advice about what it takes to earn an MBA. After receiving his MBA from Dartmouth’s Tuck School of Business, Ollinger decided to write...

50 Reasons Why You Should Get An MBA

To MBA or not to MBA? There’s no question! The Masters in Business Administration has been catapulting careers to unprecedented heights since Harvard Business School launched the first ever MBA program in 1908. Today, the MBA is the world’s most sought-after business management degree; the pièce de résistance for many an international b-school. Michael Bloomberg has one, Google CEO Sundar Pichai has one, Donald Trump sometimes says he has one. Heck, even Shaquille O’Neal has one. Basically, MBAs are cool. BusinessBecause (also cool) is in the business of supporting people on their MBA journey all the way from the very beginning. With this in mind, we spoke to MBA students, grads, professors, admissions staff, bloggers and entrepreneurs — and asked them all the same simple question: Why should I get an MBA? Here’s what they said: Browse by category: Click any of the links below to jump to each category Fast-Track Your Career Go Global Entrepreneurship Hard Skills, Soft Skills Networking, Parties and Social Life Me, Myself and I Fast-Track Your Career 1. Go From MBA To CEO Who runs the world? MBAs. MBAs grads hold the reigns of some of the world’s biggest firms: Apple, Google, JPMorgan and Coca-Cola included. 2. Double Your Earnings Get rich quick with a return on your investment in under four years. 3. Change Industry Want to switch from finance to fashion? An MBA is the perfect opportunity to start afresh. 4. Get Access To Top Employers Julia Sanchez, head of global alumni relations at Spain’s IE Business School, says an MBA will “open your eyes to infinite possibilities”. 5. Scholarships MBAs can be costly. Prodigy Finance lets you fund your degree with community-funded student loans. 6. Go From MBA To US President...

Warren Buffett on the Importance of an MBA

In 2001, Warren Buffett was interviewed by the University of Nebraska Business Magazine with regards to his views on the importance of earning an MBA nowadays. His comments provide a wide view on knowledge, learning and, in his view, the correct attitude that we should have toward learning. “If you are interested in business, or likely to be in business, an MBA is very useful. But, what is really important is what you bring to a class in terms of being interested in the subject. If you view a course like accounting as a drudge and a requirement, you are missing the whole game. Any course can be exciting. Mastering accounting is like mastering a new language, it can be so much fun. The attitude should be one of discovery, that you are coming there and discovering. Accounting is the Rosetta Stone of business. Economics is fascinating, the first page of economics describes how mankind deals with insatiable wants and creates the systems to fulfill these wants. It’s great stuff. Really how the world works. Business is a subsection, a fairly understandable subsection, not like black holes, which are fairly hard to visualize, but business is everyday stuff and you are learning how the world works. You are 18-19 years old and learning about the world, understanding how this great world works. The GDP per capita in the 20th century increased 6 to 1. Think of that, six times. Why does that work here in the U.S., why doesn’t it work other places? The U.S. is a small part of the universe, but a very important part and understanding that and seeing everything else against that backdrop for the rest of your life is fabulous.” My favorite points from...

Is Business School Worth the Money?

Over time, MBAs earn $1 million more than non-MBAs, says a new study. If you’re on the fence about whether to spend the time and money to pursue a graduate business degree, a new report from the Graduate Management Admission Council could help you decide—including what kind of program might give you the biggest returns. Based on a survey of 14,279 alumni of 275 MBA programs worldwide, the study says these MBAs reported base salaries that totaled $1 million more over the two decades following graduation than if they had not gone to B-school. GMAC’s calculations show that, even taking into account the opportunity cost of two years of lost pay, people who graduate from two-year, full-time MBA programs recoup their investment, on average, in three-and-a-half years. Can’t take two years away from your job (and spend an average of $105,000 in tuition, in addition to lost pay)? That’s not necessarily a problem since, the report says,“graduates with lower investment costs tend to recoup their expenses more quickly and show a larger ROI.” For instance, MBAs who got their degree part-time, at an average tuition cost of $25,000, took just two-and-a-half years to earn back their investment, as did executive MBA grads who paid roughly the same tuition. After five years, the two groups reported total ROIs (including pay increases minus the cost of their degrees) of 221% and 491%, respectively. By contrast, because their MBAs cost so much more, the full-time two-year students’ five-year ROI was 132%—still not too shabby—and climbed to 445% only after an average of 10 years. In all, 89% of the alums said their MBAs have proved “professionally rewarding,” and 9 out of 10 said they’d go to B-school if they had it to...

Can An MBA Change Lives? This Stanford AND Harvard Grad Thinks So...

Investing in a business education is a major undertaking, and applicants focus a lot of attention on the immediate return that a place in a top business school will achieve. Whether in the data provided by schools on the latest graduating class, or in media rankings such as Forbes and the FT, emphasis is on the financial return on investment – post-MBA salary, securing a position at McKinsey, Google or Goldman, etc. But an MBA can provide a lifelong return that goes far beyond the initial career success you might enjoy. You have a business skill set that helps you perform to the highest level, a network of talented high-achievers to support your future ambitions, and friendships that can last a lifetime. Studying at Harvard Business School or Stanford GSB is the dream of many young professionals, but there are a small handful of individuals that study at Harvard and Stanford. That is the case for Heriberto Diarte, who graduated with a Stanford MBA in 1998, and then completed the Harvard Kennedy Masters in Public Administration (MPA) a year later. He sat in on a number of classes at HBS during his time in Boston, providing him with the rare opportunity to compare the students, teaching styles and personalities of the schools. In this interview, Heriberto talks about how his Stanford and Harvard experiences have accompanied his international career path, and continue to provide a return on his investment fifteen years later, as his latest venture hereO brings a GPS Watch tracking device for young children to market. Matt Symonds: Did your business education prove to be a good investment? Heriberto Diarte: The irony is that I did not maximize my post-MBA compensation nor position. I graduated from Stanford...

The Five Worst Reasons To Get An MBA

I could use your advice. I am 27. I got a BA in Marketing because my parents pushed me hard in the direction of business and I didn’t really know what to major in. I didn’t love my program but my college isn’t known for its undergraduate business courses. However, they have an excellent MBA program. I got my degree five years ago and I’ve had one decent job and two pretty awful ones since then. My first job came from a referral from my Stats professor who also consults with a biotech firm. They hired me in as a Business Analyst and I loved that job, but they moved the position to their headquarters in New York. I could have taken a job in Client Support at the same firm but I didn’t see any reason to take a step back. My manager got me an interview at a temp firm that our company worked with. I took the job at the temp firm and it was horrible. I lasted seven and a half months at that job. One of my clients at the temp firm hired me into the job I have now, which is better than the temp firm but not that great. In my current job I manage a client database which is just as boring as it sounds. My manager is okay but the office atmosphere is oppressive. No one likes it here and it’s hard to get through the day. I’m thinking about going back to my alma mater for an MBA which would qualify me for higher-level jobs. I got good grades in high school and my undergrad program and I’ve been active with my alumni association so I’m pretty sure they...

5 Ways an MBA Makes You an Ideal Candidate

It’s never been better to be a young professional in Boston. The city has a booming tech scene, it houses some of the best companies in the country, and it’s filled to the brim with talented individuals. Yet, as with all good things, there’s a downside. Amongst the best and the brightest, how do you stand out? How do you snag a top paying job at one of these highly-ranked firms? If you’re asking yourself these questions, it might be time to consider an MBA. I know what you’re thinking. What can learning about business in an MBA program teach me that I wouldn’t learn in the workforce? However, there’s a reason MBA programs have been fundamental to successful business men and women since the inception of the MBA–which was locally done at Harvard–in 1908. An MBA allows you to develop fundamental skills that will help you succeed in your career and make you indespensable to an employer. Here are 5 ways an MBA will make you a standout candidate. You’re a Leader People Want to Follow Leadership positions are highly sought after in the business world. Not only because they tend to come with a flush salary, but also because they allow an individual to have a huge influence on the direction of the organization. MBA Programs recognize the importance of these roles and focus on developing highly skilled leaders. The curriculum is based around opportunities that encourage leadership and enable students to fully explore what it means to be an individual coworkers respect and listen to. You’re an Entrepreneur who Uses Innovation to Find New Opportunities Entrepreneurship isn’t just about independently starting your own business. It’s a mindset. Entrepreneurial thinking is a way to see the world...

Is getting an MBA the right move for you?

Whether you definitely want to pursue an MBA at some point in your career or are trying to decide if enrolling in an MBA program is the right path for you, it’s important to know the ideal times in your career to join an MBA program. Jumping in too early can place you in the awkward position of being overqualified educationally while simultaneously being underqualified professionally. Waiting too long can stall your career momentum and lower your career earnings and potential. Here’s how to determine whether the time is right. YOU HAVE CLEAR GOALS Dreaming of something bigger in your career but not sure what? Want to gain more systematic knowledge but not sure where you want to focus? Unless and until you can answer these questions, an MBA program probably isn’t for you. In your application essays and interview, the admissions officers will want you to demonstrate clear goals. RELATED: How to craft the perfect LinkedIn profile in 30 minutes At the same time, there’s absolutely nothing wrong with being unsure. However, this isn’t the time for an MBA. It’s time to explore. If this is your situation, you might want to ask your employer if you can do a rotation in another department. Educationally, you can pursue a certificate program, which can enhance your resume and expose you to the MBA environment with a lower investment of time and money. YOU HAVE REACHED A PLATEAU IN YOUR CAREER If you can see the writing on the wall that you’re not going to be able to move up in your career unless you improve your education credentials, this is an excellent time to begin researching MBA programs. Reach out to your supervisor and ask what the company would...

Why does the MBA degree remain popular?

The obituary of the MBA degree has been written several times since the 1950s. As the Economist has pointed out, a Ford Foundation report in the 1950s criticized the degree for being weak and irrelevant. In the 1980s, Business Week complained that MBA graduates relied excessively on mathematical models of management and worse, they expected to reach the top of their organizations with unrealistic rapidity. In the aftermath of the financial crisis of 2007 and 2008, many observers—including Harvard Business School professor Rakesh Khurana—commented on what Khurana called the “unfulfilled promise of management as a profession.” Even so, despite all these jeremiads suggesting that the end of the MBA degree is nigh, this degree continues to be popular. Why is this the case? Let us investigate. The first point has everything to do with dollars and cents. Since it typically takes at most two years to complete the MBA degree, relative to the financial benefits of a college education only, the MBA is the fastest way to increase one’s salary, sometimes by a significant amount. For instance, data and rankings produced by the Economist show that by attending the Booth Business School at the University of Chicago, which is currently the top-ranked business school, one can increase one’s pre-MBA salary by 73 percent. Attendance at the Fuqua School of Business at Duke University—ranked No. 20 in the world—increases one’s pre-MBA salary by a whopping 86 percent. The point to grasp is straightforward: Relative to the monetary and time costs, the rewards from a MBA degree, particularly one from a top business school, are substantial. Second, in this era of globalization, the MBA degree is portable across national boundaries in a way that medical and law degrees, for instance, are...

42% Of CEOs At Top Fortune 100 Firms Have MBA Degrees...

Business school may be your ticket to the boardroom. More than 40% of the chief executive officers in the top 100 Fortune companies have studied for an MBA, according to research from Heidrick & Struggles, the executive search firm. In the UK, 27% of the top chief executives opted for an MBA degree; 24% in France. The data show that studying at an elite business school could be your best bet for becoming a CEO. Around 50% of the chief executives of SBF 120 companies, the index of France’s 120 largest firms, graduated from one of four top schools: INSEAD, HEC Paris, École nationale d’administration or École Polytechnique. INSEAD, which has campuses in France, Singapore and Abu Dhabi, has several prominent CEOs. These include Tidjane Thiam at Swiss investment bank Credit Suisse; Helge Lund of oil major BG Group; and António Horta-Osório of UK lender Lloyds Banking Group. HEC Paris’ star alumni include Jean-Paul Agon, CEO of cosmetics group L’Oréal; François-Henri Pinault, the chief executive of luxury brand Kering; and Bruno Lafont, industrial champion Lafarge’s chief. In the US, 28% of the Fortune 100 chiefs graduated from seven top universities: Harvard, Stanford, Pennsylvania, Berkeley, Columbia, MIT, and Princeton. Harvard Business School has seven CEOs at top European companies alone. These include Vittorio Colao at telecoms group Vodafone, and Sir Martin Sorrell of WPP, the world’s largest advertising group. Columbia’s CEO alumni are James Gorman, at US bank Morgan Stanley, and César Alierta, at telecoms group Telefónica, among others. Stanford counts Carlos Brito, CEO of brewer Anheuser-Busch InBev, as alumni. Berkeley graduated Joseph Jimenez, the chief of pharma group Novartis, and Shantanu Narayen, head at software company Adobe. Meanwhile, 24% of the UK’s FTSE 100 CEOs graduated from either Oxford...