Shan’s Weblog

There are already countless articles on this topic posted on the web already, I admit. This post is purely for the selfish purpose of reassuring myself why I am spending roughly $20k on an MBA here at James Cook University in Australia. Perhaps someone else out there in cyberland may benefit from this reassurance? In any case, here goes:

Reasons for getting an MBA:

1. Money: Apparently you will be making on average $10k-30k more than my counterparts with undergrad degrees, and this is not counting the fact that you may be working in IT. Experience in the world of information technology pays off in itself, but having a master’s degree in business earns an even fatter paycheck for IT professionals (1).
2. Career Advancement: an MBA is still important to reach senior management ranks within most companies(2).
3. Self-Improvement: Leadership skills, managment skills, networking skills… even if you choose the non-profit world, the possibilities of being a big dog in your field seem more real than without education in these areas.
4. Networking: I haven’t even started the MBA program yet, and already people seem to be hooking me up with business opportunities and contacts after learning that I am doing an MBA. Just meeting people and telling them what are you doing opens doors for you, it’s remarkable.
   
5. More opportunities: A fellow undergrad student in the USA once told me that the more you study, the more you can “see” the world for what it really is. He added that getting an MBA is like moving up to a higher floor of a building and seeing more of the world below you (he probably wanted me to take this comment both literally as well as philosphically). I must agree with him – if you gain a general understanding of how businesses work and why they make the decisions that they do, then you can use this knowledge to help the business profit, rather than simply working hard in your assigned job and hoping that the business does well enough for you to get your $4k pay rise every year.
6. Fewer Hours Working: Think about it – you are a manager, and you are getting other people to do your work for you. If you have the management and personable skills necessary to get people to work for you, then you don’t have to do the work yourself! My managers have all told me that they work less than 40 hours per week. They are very talented individuals, however it is their influence and ability to communicate effectively with people, along with their understanding of the business that makes their lives easier, not, for example, how talented at programming they are.
7. Learn How to Start or Fine-Tune Your Own Business : This is perhaps a primary reason why many people pursue the MBA.
8. Greater Job Security: MBAs are in demand, regardless of what jealous people tell you.
9. Credibility: Especially among peers. Unfortunately there is that “part of the club” executive type feel, but it is useful for gaining respect.
   
10. Communication Skills: Effective communication is supposedly learnt through various projects and presentations in an MBA program (3).
11. Real-World Applications: MBA students can apply their studies to their work.

References:

(1) http://www.newswise.com/articles/view/512170/?sc=dwtr
(2) http://www.quintcareers.com/MBA_degree.html
(3) http://www.cio.com/article/122508/_Reasons_Why_You_Should_Get_an_MBA/3