Saturday, June 2, 2007

Do You Really Want an MBA?

Before you get involved in the admissions process, take a moment and read this post. It is probably the most important post in this blog.

I suggest that you think hard if an MBA is really what you want and need. The MBA Admissions Comittees will make sure that your decision is based on valid reasons, so why not start this early in the process before you commit. I'm not trying to scare you or anything, but this is your life, so it is best to make sure in advance that you are on the right track. Plus, it would be a shame to waste a year on writing essays and taking tests only to find out that you don't really want to leave your work, or that your spouse does not want to leave with you abroad.

Do you really want to leave your work for one or two years in order to study? What do you want to gain by that? Are you not satisfied with your career? Do you think an MBA is a stepping stone, and a natural continuation of your career? How can an MBA help your career? Can a different path be more benefitial? Why not pursue a graduate degree in your field? Is the MBA a mean for career change? Do you want to stay in your industry or your company? Do you want to work in general management, investment banking, public office, private equity, consulting, or entrepreneurship? How is that connected to your undergraduate studies and your work history?
Do you have enough work experience? Do you have enough academic background? Are you in the correct age?

You are going to spend 100-200K$ for your studies. That is like buying a house. Like buying 10 cars. Like traveling around the world. Can you handle that? Do you have financial means? How do you feel about getting a loan? Do you want to get into such a financial adventure? Why? How do you plan to pay off the tuition after graduation?

You are going to leave your home country and do a relocation for several years. Are you ok with that? Do you understand that you might have to stay abroad for several years after graduation in order to pay off your tuition? Do you have a family? Discuss your plans with your partner: Are they willing to relocate with you? What are they going to do while you study? Do they have a work permit? Do they want to study (maybe they should apply with you to some schools)? Can you finance your children while you are there? Do you want to live in dorms or student apartments? Do you want to go to USA, Europe, or Asia?

Do you understand that the application process can take more than a year? Can you handle that? Can you handle studying in English?

The answers should come after you do a profound research, talk to people, and understand what a Top-10 MBA is all about. If you decide that you want this badly enough, then you might get into an adventure of a lifetime.


Anonymous said...

Hi Yariv,

As you label this post as "the most important post in this blog", I have found it utterly confusing :(
I started reading this post expecting that I will get some insight before taking the plunge. However what I found were too many questions and no solution!

Can you please post something that starters will find interesting to read and will be helpful in deciding if one should go for MBA degree?

Yariv Hammer said...

The point was to make you confused. You have to think hard whether you want to do this. If you already decided, then you can find tons of information in my blog (I am going to post some experiences from the last two month soom).
I published about every step in the process. If you still miss information let me know and maybe I can help.

ashish said...

Hi Yariv,

This article really highlights the importance of having a clear objective and not just whim.

Thanks for providing some points to think before the plunge.


Ori said...

An excellent article.
U succeeded to exract the essential questions on doing an MBA. I think it can aid people to go for an MBA for the right reason and prevent others from doing something they might regret.

Double glazing said...

After reading your interesting post and help from you its now easy to think for doing MBA.

Double glazing said...
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