If you’re someone who is planning on getting an MBA from a prestigious business school to improve your future career prospects, and is willing to pay hundreds of thousands of dollars to get this fancy degree, then it’s time to stop yourself in your tracks before it gets too late.
Getting a pricey MBA degree to feel better about yourself and your professional standing is just not worth it! In fact, there’s a good chance that it may be one of the biggest mistakes of your life and ruin your financial life for several years to come.
The sad truth is that most people just pursue an MBA degree for recognition, not for the learning experience that comes with it. As Seth Godin writes in his blog, “For many students, the two most important parts of the top-tier MBA are getting in and getting out. It’s about selection and certification.” He further remarks, “In uncertain times, the process feels reassuring. For most students, the elite MBA is about the prize at the end, not the learning or the experience.”
Now is a good time to figure out what your end goal is. And if there’s a better and cheaper way to get an MBA degree that you truly want. It doesn’t matter what business school you choose, the most important thing is getting a degree.
If you’re able to get an MBA degree 100% paid for by your employer at a regular, quaint business school, (yup, the one that easily pales in comparison to your favorite out-of-state pricey school!), then there’s absolutely no point in letting the wonderful opportunity slip out of your hands. At the end of two years, you’ll have an MBA degree in your hands without any tuition costs. Isn’t that better?
Here’s the bottom line: Only go for the MBA program if you have a strong Why behind it. And if you truly think getting the degree might be a valuable investment of your time and effort, then choose a business school where you either pay the least amount of funds from your pocket or even better, nothing at all!
Let’s face it… These days, getting an MBA degree might just not be a worthwhile pursuit after all. In a few industries, it might surely help, but for others, it may not be a sound strategy at all. At most companies, an MBA is neither required to climb the ranks in certain fields nor needed to secure a position where you earn a high six-figure salary. In addition, there are many globally-recognized MBA alternatives available as well, both online and offline, to enhance your professional profile. So, make sure you do your research well before you move forward. Choose wisely!