Is This The Harvard of 2020?

Why You Shouldn’t Get An MBA

Every year, schools churn out articles on why you should sock two years and six figures in an MBA. It’s the network that’ll open doors, they say. You’ll advance your career and earn more. And don’t forget that fluffy “transformational experience.”

With that pitch, you’d think an MBA is the end-all, be-all salve to whatever ails your career. Think again. “An MBA by itself can’t get you a job or even a job interview,” writes Forbes columnist Liz Ryan, the 21st century professional’s answer to Dear Abby. “I teach career strategy to MBA candidates,” Ryan writes. “On the first day of class I have them make a list of names. I ask them to list the names of people they know who have MBAs and aren’t working in MBA-level jobs or anything close. The students always have stories about people in that situation.”

In her latest U.S. News & World Report column, Stacy Blackman argues that an MBA is more than just a credential. “The decision to pursue an MBA should be based on how it would develop your core strengths. Merely to gain bragging rights or make your resume stand out are not good enough reasons.”

And those aren’t the only reasons according to Ryan and Blackman. For one, Ryan emphasizes, b-school is not the place for students looking for an escape. “Completing an MBA program requires passion and planning. If you enter b-school without either, you’re already well behind your peers,” Ryan observes. “You’ll be up against other MBAs who know why they chose the path they’ve chosen. That’s a very important part of an MBA’s story — maybe the most important part of all. They’re applying to B-schools now to pursue their dreams, not to escape back into an academic world that was more comfortable than the harsh working world can be.”

Another bad reason to head back to school, according to Blackman, is when you don’t know what else to do. “Taking a two-year break as a placeholder activity doesn’t make a lot of sense professionally or financially,” she writes. Echoing Ryan, Blackman adds that following a vision is critical. “Applicants to a top-ranked business school should have a clear idea of the field they plan to move into and how the degree will help.”

But this vision doesn’t just help students make the most of their time in business school. It’s actually key to landing a coveted spot in school in the first place, says Blackman. “As part of the admissions process, business school hopefuls should have a solid answer why they want to earn an MBA. The answer should show focus, direction and sufficient self-reflection. If you aren’t 100 percent sure that an MBA is what you need to succeed, the admissions committee isn’t going to take a chance on you either.”

Prospective students should also factor in whether an MBA is the right graduate degree for them. For example, Blackman shares that students looking to in-depth knowledge would be better served with a master’s degree. “For folks who want to immerse themselves in one specific area, such as business analytics, accounting or supply chain management, and who plan to stay in the same industry and function long term, a specialized master’s degree in an area like finance or technology would be a better choice.”

So why should you get an MBA? Here, Ryan lists several reasons:

1) You’re passionate about business and want to explore that passion working for someone else or starting your own business.

2) You have a big idea you want to bring about, and you want to use the structure of business to do it.

3) You’re excited about one or more aspects of business – finance or marketing, for instance — and want to learn more about the theory and practice of those topics than you can learn on your job.

4) You’re looking ahead at your path and zeroing in on higher-level jobs that you’d like to pursue — jobs that require an MBA.

5) You want to understand the philosophy, strategy and mechanics of business so that you can use that knowledge in your career, whether you stay in the business world or not.

For additional guidance on whether an MBA is right for you, click on the U.S. News and Forbes links below.

DON’T MISS: OBVIOUS AND NOT-SO-OBVIOUS REASONS TO GET AN MBA

Sources: U.S. News & World Report, Forbes