Why You Need Work Experience Before An MBA
You’ve just graduated college and you’re set on pursuing the MBA. But is it wiser to jump straight into the MBA or gain work experience first?
Mindy Wright, of CEOWORLD Magazine, recently discussed reasons behind why it’s smarter for applicants to build work experience before applying for the MBA.
BEEFING UP YOUR CV
Part of the reason why experts say gaining work experience prior to an MBA is helpful is because it will give you a sense of direction before going into an MBA.
“One of the main questions they ask you in the interview is your motivation for seeking admission to the course,” Wright writes. “You will have a better response than ‘a lucrative salary’. People aiming to further their own businesses or careers are generally more successful in these interviews.”
Additionally, gaining work experience will give you an understanding of where you want to specialize.
“Spending a hefty amount to complete your MBA and then getting stuck in the wrong line will be a major blow to your decision-making skills and future career prospects,” Wright writes. “Nobody wants to go to a job that they don’t have their heart in.”
Coming out of college, you probably won’t have much money. In fact, you’ll most likely still have loans to pay back.
Going straight into an MBA from undergrad may be a financial risk, which is why experts recommend for applicants to have some working experience beforehand.
“Taking a loan from a bank or any financial institution is a great way to bear the burden of the course on your shoulders,” Wright writes. “But by having worked a few years, you might be able to save some amount of money to make the repayment of this loan easier.”
Additionally, some companies may also offer tuition coverage for the MBA.
As we recently reported, industries like consulting, financial services, and the government are the main types of companies that will offer tuition coverage for their employees to complete an MBA.
Working before an MBA can also give you valuable experience and an edge over less-experienced applicants.
“One of the first things that they do when you sit for an interview is to take a look at your CV,” Wright writes. “It is an advantage to have some years of work experience to back up your claim to the seat. The simple logic is that an MBA would be far more beneficial and efficient in boosting someone who has had some experience in the field.”