When is it time for an MBA?
If you want to make it big, doing an MBA is a crucial step in your career. An MBA is the key that unlocks your career's potential and for professionals that need the academic experience to back up the business experience that they have gained, an MBA provides a clear-cut path to developing your career.
But, as a significant financial and time investment, deciding to do an MBA requires consideration and planning. Below are 7 things to consider before diving into an MBA program. Are you in the right place in your career? Does an MBA fit into your current lifestyle?
Do I have the right amount of experience for an MBA?
Have you worked for 2-5 years? Or are you fresh out of your undergraduate degree? While there are MBA programs that do not require any professional experience, an MBA curriculum is heavily based on the contexts of business and the workplace. Some years of professional work experience will provide the framework for understanding the knowledge presented in an MBA program and, better yet, give you a clearer idea of how it can be applied in your career.
Why do I get passed for the jobs that I really want?
Getting a management position can be tricky, especially if you do not have professional experience as a manager or supervisor. Even with outstanding performance in your own role, it can still be difficult for your boss to see your potential as a leader. An MBA can help you put your professional experience in to the context of management and leadership, and help you stand out among your peers.
Is my non-business education holding me back?
When you come from a science or social sciences background, employers can sometimes doubt your ability to perform in a business strategy environment. More often than not, this is because of the uncertainty that comes with hiring someone that does not meet the specific experience requirements for a role. Together with your technical skill, the knowledge and skills gained from an MBA can make you the ideal candidate for a management role in an organisation. This is especially the case if you have a also have technical (rather than business-oriented) understanding of your organisation's key product or service.
Is your hard work going unnoticed?
It's common to feel like you are stuck in a professional rut. If you're tired of feeling like you're not learning anything in your role, it may be time to look elsewhere. An MBA can help you focus on where you passion lies and help you secure a job that makes use of your unique skills and truly challenges you.
Is your career going in the wrong direction?
Careers aren't forever. If you're a media planner, but really wish you were a consultant, or anything in between, an MBA can help you transition into a career in the upper strata of business. The knowledge and connections earned from an MBA can help fill the gap in your qualifications to make you a more appealing candidate for a strategy-focused role.
Is it time for a raise?
We would all love a raise, and like anything else, raises must be earned. An MBA degree is directly linked to increased professional opportunities in high-level roles, which translates into a more lucrative career path. It's true that doing an MBA is a significant financial investment in itself, but you can be sure that this particular degree will pay off in the long run.
Is leadership skills missing from your resume?
Does your resume have everything except for demonstrable leadership skills? This could be holding you back from taking the next step in your career. An MBA provides the ideal environment for developing your understanding of how leadership works and interacts with an organisation. You can then apply these understandings in real business contexts to achieve a desired career push.
In a saturated job market, an MBA is crucial to competing for high level jobs. Over the years, an MBA degree has become a qualifying criterion for recruitment across major corporate sectors such as banking, investments, finance, marketing and business development agencies. Together with professional experience, an MBA will provide you with the qualifying skills that you need to get your dream job.