Question:
Dear Judy:
I have a decade’s worth of mid-level managerial experience. I am thinking about getting an MBA. Do you think it’s worth it at this point in my career?
Sincerely,
Future MBA
Answer:
Dear Future MBA:
Thanks for your message. In general, additional education is always a plus. Every HR professional can tell you that an MBA is a coveted, solid degree that can put you in the position of advancing your career. Here are a few more things to think about:
*Decide what you want. If your goal is to advance within the company, then getting an MBA might or might not help you achieve that goal. If your current company perceives that you are doing a fantastic job without the graduate degree, they might have little incentive for you to get more education and to help pay for it. Most times, in order to advance, one has to change companies, and getting an MBA can set you up for growth. If you are happy in your current company and don’t plan on leaving, you might still really enjoy the intellectual challenge of an MBA — and the prestige that comes with the diploma — but you might have to pay for it yourself.
*Online, offline or hybrid? There are many attractive ways of getting your MBA. A decade ago, an on-campus degree was the only way to go, but today’s learning environment is much more flexible. Have a look at online MBA programs, or check out some hybrid programs, during which you attend classroom sessions and complete other work online. Given your managerial experience, you might also qualify for a shorter, intense executive MBA program.
*Choose your concentration.Independently of which area of the company you work, there are several MBA concentrations that are a great fit for most students, such as an MBA in management or marketing. If you’d like to change careers and become an entrepreneur, then an entrepreneurship MBA might be just the thing for you. If you’d like to be a strong candidate for high-level finance positions (which can be lucrative and relatively recession-resistant), then consider focusing your MBA in finance.
*Talk to your boss. Now is the time to approach your immediate supervisor about your plans. Ask for his or her support, not only financially, but also in terms of flexibility should you need to take a few days off to prepare for final exams. It’s ideal to include your boss in your plans to keep him or her involved and interested in your progress.
*Time management. Getting an MBA is a challenging and intense experience. I really enjoyed my two years in the MBA program, but working full time and going to school full time (or even part time) doesn’t leave much room for anything else. Be sure your spouse is on board to support you and do any tasks around the house that you might not be able to accomplish.
Good luck in your studies!