This is a very subjective question for anyone and depends on the circumstances one is facing. There are some basic questions that one should ask before looking for an MBA. I have tried to list them here.
Fast Career growth: A lot of MBA aspirants go for MBA because they want to have fast career growth. One should first decide what limit they want to go in his/her career. On first, look everyone will say, they want to become CEO of a big company. Very good answers but ask yourself again are you sure. I met many MBA students and generally they are not sure of even where they want to go after MBA. Many of them are not even sure they should chose consultancy or investment banking. You might see many opportunity before MBA but after that you are generally looking a very narrow set of companies and industry. Other question should be if you don’t go for MBA, can you not have career growth by some other means like part time studies or online studies?
Value for Money: This is probably one of the most expensive decisions of your life to go for an MBA. Are you sure you want to spend this kind of money? What kind of returns you are looking at this investment? What salary you expect after the MBA? (Don't believ the numbers in some ranking sites, they have different method of quoting numbers than what you will believe) Be realistic and don’t cheat yourself.
Want to change country: Some of the candidates want to change the country, they should be very much sure that this MBA allows them to settle in another country. Check the immigration laws of the country.
Want to change the industry: It is generally not easy and be realistic about this. It is generally less possible in one year MBA programs.
What School and how to choose: One of the most difficult decisions once you have decided for this. Don’t trust the rankings too much. They give you a overall idea (an average of many factors). Check if the schools meet your requirements. Never go to a school you don’t know alumni from unless it is in top 5 of the ranking.
Fast Career growth: A lot of MBA aspirants go for MBA because they want to have fast career growth. One should first decide what limit they want to go in his/her career. On first, look everyone will say, they want to become CEO of a big company. Very good answers but ask yourself again are you sure. I met many MBA students and generally they are not sure of even where they want to go after MBA. Many of them are not even sure they should chose consultancy or investment banking. You might see many opportunity before MBA but after that you are generally looking a very narrow set of companies and industry. Other question should be if you don’t go for MBA, can you not have career growth by some other means like part time studies or online studies?
Value for Money: This is probably one of the most expensive decisions of your life to go for an MBA. Are you sure you want to spend this kind of money? What kind of returns you are looking at this investment? What salary you expect after the MBA? (Don't believ the numbers in some ranking sites, they have different method of quoting numbers than what you will believe) Be realistic and don’t cheat yourself.
Want to change country: Some of the candidates want to change the country, they should be very much sure that this MBA allows them to settle in another country. Check the immigration laws of the country.
Want to change the industry: It is generally not easy and be realistic about this. It is generally less possible in one year MBA programs.
What School and how to choose: One of the most difficult decisions once you have decided for this. Don’t trust the rankings too much. They give you a overall idea (an average of many factors). Check if the schools meet your requirements. Never go to a school you don’t know alumni from unless it is in top 5 of the ranking.
Remember it is a 1-2 years investment and you will not be earning any money, except some money during internships, during this period. Calculate your salary in the current company or industry even without MBA after 1-2 years. Do you still see value? Talk with friends, family members if you are ready for this expensive commitment.
Nice one, wonder if you have an article on careers after MBA.
ReplyDeletenot yet but I will post as soon as I get. if you have any specific questions post here. I will address that while posting my article.
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