MBA SCHOOLS

MBA Schools

MBA Schools

Introduction

Many young working professionals wonder whether or not it is worth going back to business school and getting their Master of Business Administration (MBA).While a strong economy leads many professionals to stick to their current roles, the prospect of pursuing more lucrative positions or facing economically stagnant periods leads many to head back to school for a graduate degree. While pursuing an MBA comes with its own set of challenges, an MBA can be a valuable asset on the path to a better career for young professionals with clear career goals and realistic expectations.

Turning in the briefcase for a backpack provides a familiar sense of security for those just a few years removed from the regimented routines of school life, multiple choice exams and weekend "study sessions" at the local pub. However, this relief is temporary. When the schooling ends, the individual inevitably must return to the wage-earning world.

Spending two to three years back at school could allow a professional to rejoin the work force with advanced knowledge of business practices that may translate into significantly higher earnings. It is also possible that it will be an economically opportune time where businesses are expanding, companies are paying hiring bonuses and career advancement is a real possibility. However, these projected benefits of acquiring an MBA must be balanced with cost considerations such as loss of wages while in school, student loans and additional time spent in the classroom as opposed to practicing one's craft out in the field.

Those contemplating B-school should thoroughly assess whether the courses taken during the program align with their professional and personal interests, as well as anticipated career trajectory. Some important things to consider, include:

•Professionally, what do I want to spend my time doing?

•Does my field require this degree in order to be successful?

•Are there other avenues for learning what I need to know?

Unfortunately, people may choose to get an MBA to enter a chosen field without having a distinct understanding of the day-to-day realities of the job - both good and bad. For example, a professional who has worked in the public or nonprofit sector may venture into the world of investment banking, only to find the hours unbearable, the culture too cutthroat and the work too demanding. (For more, see Wanna Be A Bigwig? Try Investment Banking.)

Broader Horizons

Business school represents the expansion of job options, providing for some career flexibility. Professionals who have worked in retail, insurance or field sales may wish to broaden their business exposure and experience. An MBA can mean the ability to pursue careers in management consulting, investment banking, operations, private equity and the public/non-profit sector. (To learn more, see Consulting - Everybody's Doing It, Should You?)

Business school can be a great avenue to switch from one functionary role to another, such as from finance to strategy and planning or from sales to a management-training program. Yet others may want to transition into an entirely different industry, say from a teaching or writing career to joining ...