In the world today, many people see master’s programs and MBA’s as worthless because the amount of money you sink into them is less than the money that you receive with a job or you just can’t find a job.
But there are also many compelling reasons that you should get an MBA, absolutely none of them having anything to do with money. As user CompBanker posted on Wall Street Oasis, receiving an MBA opens you up to all new experiences.
As someone in the business world, you spend every day having your credibility judged, whether it be by your boss, potential partners, bankers, or executives.
If you attend a no-name undergraduate university or attend university in a foreign country, many companies are hesitant to give you credibility because they have no real knowledge of what you have done or what you are capable of.
By attending a top-tier university to receive an MBA, you are showing prospective employers that you can handle the workload and have the knowledge to back it up.
By attending an MBA program, you are not only receiving a degree, but also laying down the roots for a network that can benefit you for the rest of your life.
In the professional world, you can then utilize these contacts to learn more about prospective partners or clients, research an industry, or just find new employees.
And if you ever want to switch jobs later in life, you have a wealth of contacts that can take your call and assist you
This may sound odd, but most junior professionals don’t have the ability to clearly and concisely articulate their thoughts. This isn’t made easier by the overwhelming presence of your boss looming over you and expecting you to do well.
By attending an MBA program, you have an opportunity to work on this skill with peers that have no set seniority structure. Therefore, by the time you enter the business world, you have the ability to articulate your thoughts clearly, which many see as a sign of a leader and of someone who has confidence.
At a post-MBA level, the job field gets very small if you don’t have an MBA. If your company was to fold due to its head executives departing or otherwise being incapacitated, you would have no where to go.
So while the current opportunity cost of going to receive an MBA seems high, the result of you losing your job could be much worse. Private equity firms especially almost always specify that “top-tier MBAs are required” or at least “preferred.” Basically, going to get an MBA could save you a lot of strife, time, and money in the future.
Most people who go to earn an MBA have already worked in the professional world for a few years. During this time, they have usually stayed in one job type such as logistics, M&A, or consulting.
All of these jobs require very specific skill sets and have almost zero crossover. Therefore, if you were to lose your job at one company, it would be very hard for you to put those skills to work at another job doing anything different.
By going to receive an MBA, you get an education in a lot of different skill sets, which can help you get into other aspects of business if the one you are in doesn’t work out.