Do you really believe you need to go to business school and pay a substantial amount of money for the tuition? Is it worth leaving your job to pursue a full-time MBA degree when there is no guarantee of a better job after finishing it? That would spell two years of no income plus two years of paying the tuition.
Pursuing an MBA degree is an expensive, socially limiting, and time-consuming commitment. It requires your full attention between classes, study groups, test preparations, homework, and extracurricular activities. Your social life will almost revolve only on your mentor and classmates. If you are prepared for this, then get your application form for the business school of your choice now. But for those who are not that sure, read on find out more about why you should decide against spending your time and money in taking an MBA.
What good is getting an MBA?
An MBA looks great on a resume, but that’s not enough reason to go to a business school. First, you ought to evaluate how taking an MBA will increase your marketability and wage potential. If an MBA will not help you achieve your long-term career objectives, then seriously, business school is going to be a waste of time and money. Below are some
reasons why taking an MBA is not always the best move:
The economic downturn
With the economic global crisis we are currently experiencing, it is hard to reconcile why one needs to consider taking up an MBA. The economic depression at present has caused freeze hiring in many companies. Company sales are plummeting; early retirement plans and lay-offs are met head-on by employees, even those from big, international companies. Pursuing an MBA degree may not be the right move if your budget can’t really allow you to spare money for further education.
The physical and mental stress
Another factor that must be considered when thinking of taking an MBA is the amount of physical and mental stress or anxiety it puts on the student. Going to MBA School will sooner or later take its toll on you if you’re not prepared mentally, physically, and emotionally. Many people want to go ahead and eventually get a higher-paying job that they forget to stop and think if they have the best reasons for pursuing an MBA in the first place.
The competitive environment
Going to MBA school means competing with other students who also want to get ahead. Starting from the applications process, the admissions process of many MBA schools is selective. You really have to have good grades, high exam scores, and a winning admissions essay, which you can achieve by reading examples of personal statements. If you’re not into a highly competitive school environment, then maybe MBA school is really not a good choice for you.
If you’re having second thoughts about going to MBA school, think of both the pros and cons of pursuing further education, especially if you’re planning to take a full-time load. Make sure that your reasons for pursuing an MBA degree are practical and sensible. Always consider several factors before you make the decision to make a big commitment. Pursuing an MBA degree may be beneficial to your career but this entails certain sacrifices.