Are You Ready to Get an MBA? – Consider These Factors
You may be considering whether it would make sense to continue your education and complete an MBA. The time, effort, and money that go into an MBA likely weigh heavily on your mind but, on the other hand, all that work adds up to a priceless investment in your future. So what is one to do?
Let us help you decide whether pursuing an MBA is the right move for you.
An MBA Is Worth It—If You’re Ready
No degree-seeker is one and the same. Everyone has their own educational, financial, and professional motivations. Just as your individual goals are unique, so too is the road you’ll take to achieve them. Once you feel confident in your vision for the future, it’s time commit fully and give it everything you’ve got.
It goes without saying that school is tough—and it’s certainly no painless endeavor to pursue an MBA. It takes two—sometimes three—years’ worth of courses to fit into your already busy life. Those who do unfortunately drop out of their MBA program do so simply because they hadn’t prepared themselves for the level of commitment they needed to make. All of their work ended up being a massive financial waste!
It’s best to make sure you’re up to the task. Take a step back and try the following before you apply to a program; your foresight can help you solidify which program is best for your goals.
- Talk to any colleagues of yours who have earned their MBA. Ask them about their experience, whether they’d do it again, and whether there is anything they’d have done differently.
- Research the real-time commitment of the MBA programs you’re considering. Make sure whatever program you choose will be conducive to your time constraints.
- Be mindful of finances. MBA programs vary greatly in cost and length—do the programs you’re interested in fit your budget?
Keep in mind that an MBA is only as valuable as what you do with it—make sure you’re after an MBA that has helpful career services and networking opportunities so that you can be especially prepared for a leadership role in your career. To get an MBA, you have to want it, plan for it, and make the necessary room in your life for it.
Consider the Finances
It’s true that most MBA programs come rife with expenditures. In fact, money is one of the number-one factors that cause people to veer off course from their goal. Ultimately, however, an MBA is an investment, one that results in lucrative earning potential. Upon your completion of an MBA, you won’t get your money back instantaneously, but you are expected to recoup the value of your program over time. A 2015 QS North America MBA ROI report, for example, found that MBA graduates received an average salary increase of 75 percent. In the same report, it was found that the average time it took to pay back the cost of an MBA was 44 months.
Getting into Programs that fit Your Needs
You may be thinking, “I only want to get into the best, most recognizable school. That’ll get me the best job, and I’ll earn the most money.” In this regard, many become lost in the allure of the name on a building, causing them to fall victim to a school’s prestige and sacrifice an education that truly supports their goals. Instead of limiting your focus to big-name schools, how about looking for a school that is best suited for your career?
Many think that “top” schools are their only option. But the truth is that a smaller, unique program is more likely to support your individual, equally unique goals.
There are endless lists of MBA programs that afford opportunities for massive salary and career advancement—ones that don’t leave you in debt for years to come. If you decide an MBA program is the route for you, we encourage you to seek out a program that’s affordable, interesting to you, and fully supportive of your success.
Abound’s MBA Database
Abound has a detailed, highly-selective repository of MBA programs that have met our rigorous approval standards. We encourage degree-seekers to explore and consider attending these select schools, as we find them most apt to cater to your individual needs.
Schools are legitimized as official Abound schools through a vetting process that evaluates programs through the following criteria:
- Commitment to engaged learning
- Mentorship and student support
- Academic integrity
- Transparent explanation of offerings and programs
- Faculty, adjunct, and staff training
- Accelerated time to completion
- Available career services and networking connections with faculty, corporate partners, and alumni
- Affordability assistance
The benefits of an MBA last a lifetime. Overall, an MBA program is “really” worth it if you’re ready!