5 Widely Accepted Myths about MBAs Reply

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.

Conclusion

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.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

Should Startups Hire New MBA Grads? Reply

StartupNew Economy, New MBA

Back in the day, MBAs were sort of for losers. People who weren’t successful in their business pursuits went to business school to gain new schools with the hope of improving their business acumen. The logic was simple back then: if you were good at business, you stayed in business. But our economy has shifted and so have many business schools in terms of how their MBA programs are shaped and whom they accept into their programs.

Many business schools are now places for networking, innovation, and learning hard skills that serve core business functions (the stuff that hasn’t changed very much). In short, MBAs are walking out of their business schools more connected, more creative, and more prepared than the average individual with a few years of work experience but lacking an MBA. Many MBAs take the advantage of their time in school making connections and thinking broadly by creating startups of their own with their colleagues.

Getting wiseMBA

The beauty of the new frontier for MBA students is that they are primed for innovation as they leave the incredibly formative experience that is graduate school. Increasingly, entrepreneurship is one of the most appealing concentrations for students in business school. Nothing spells new horizons like putting in your few years at some firm, becoming a student again, then stepping back into the world of work. MBA students are eager to apply their learning and leverage their newfound connections on behalf of whatever project will help them make their mark. And we are beginning to see startups catch on.

Startups are hungry for that balance of innovative energy alongside hard skills that keep the company’s wheels turning on a daily basis. They need a constant infusion of fresh thinking along with the ability to execute on those bright ideas. In so doing, startups operate with some degree of consistent churn among their employees, which can be seen as a strong quality assuming that the company is still meeting its internal goals.

No longer risk-averse

Whether it is a generational shift or a product of business schools shifting their admissions and programmatic priorities, today’s typical MBA student is no longer as risk averse as MBA students in past years. Indeed, MBA students are arguably going to business school to mitigate the risks in our hyper-competitive economy. They are quite literally building the networks and acquiring the skills they believe they will need to survive in the business world precisely because they wish to advance in that world. To them, not improving their standing with MBA is an even greater risk than leaving the security of their pre-MBA job.

This is an ideal reality for startups. As they themselves get smarter about risks–in order to reduce the remarkably high failure rate for startups–they find themselves with a fresh crop of MBA students to draw from, year to year, to fuel their potential success. Alongside this trend, we have business schools and MBA students themselves working hard to make MBA degrees as valuable as possible in our modern economy given its ever-shifting context. An ideal match if there ever was one.


About Vera Marie Reed

Vera Marie Reed is an ex-elementary school teacher turned freelance writer from Glendale, California. She is now a stay at home mother to her two young daughters and enjoys writing about education and parenting issues. She hopes one day to write and illustrate a series of children’s books. Follow her on Twitter at @VMReed.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.