The Masters of Business Administration (MBA) is among the top post-baccalaureate degrees with high demands both in the corporate world and academia. However, there is so much buzz around it that you might wonder which of the unadventurous wisdom you read over the internet or hear from close friends is actually true—every source will tend to lead to a different direction. In connection to this, here are a few widely accepted myths about MBAs—and why they are misguided:
1. When Getting an MBA, You Must Be Prepared to Lose Out On Work-Life Balance
It all depends on you as an individual. If you want job with high remunerations and you are comfortable with working 14–16 hours a day, you are good candidate for an investment banking/consulting emphasis MBA. However, if you aren’t ready, you can opt not to apply for such jobs or firms. Every firm or job has a different quality of work and life, so it is upon you to choose what will work as you pursue your MBA.
2. All MBA Degrees Are Equal
Although it may sound obnoxious, the truth is, MBAs aren’t all equal! There are thousands of institutions offering MBA globally, but only a few are recognized in the industry. Again, besides accreditation, prestige, and cost, there are other key differentiating elements that distinguish one program from another.
3. Guaranteed Career Change
Having an MBA will not guarantee you a new career, but it will guarantee more options for a better direction for your current career. If you earn an online MBA in information technology, for instance, you can enjoy a higher salary and more job opportunities in the field of IT than someone without such a degree.
4. A Part-time MBA Takes Too Long to Complete
While a normal part-time MBA program will take you 3 years to complete instead of 2 years, there is usually lots of options for acceleration. If you are in a position to take additional classes, there are many programs that will allow you to graduate faster/early.
5. You Will Become a Marketing/Financial Expert
If you think that MBA programs are all about finance, marketing or human resource, then it is time to look around. You may be surprised to find that the manager at the famous clothing company in your city has an MBA in fashion management. Remember, management skills are needed in every field, so it is upon you to tap the right one with your MBA degree.
MBA programs have rapidly evolved over the recent past to adapt to the dynamic needs of the workplace environments. Accordingly, if you are considering pursuing an MBA program, endeavor to think about how you want to learn. Usually, knowing the answer to this vital question will help debunk the many myths in the industry allowing you to make the best investment for your future.
Dixie Somers is a freelance writer and blogger for business, home, and family niches. Dixie lives in Phoenix, Arizona, and is the proud mother of three beautiful girls and wife to a wonderful husband. She can be found on Facebook and Twitter.
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