Individuals working in the field of business and having aspirations of reaching the top must at some point consider whether or not a Master of Business Administration is in their future. The MBA is viewed as a critical piece of the educational puzzle for individuals hoping to pursue upper level management and executive positions. Just because an individual is considering an MBA doesn’t mean it is right for them. Who is the MBA right for? Similarly, who is the MBA wrong for?
Those considering an MBA program need to ensure it is right for them because it is one of the most advanced degrees to pursue. A full-time program takes up to two years, with part-time programs lasting three to four years.
Not All Degrees Are Created Equal!
While an MBA can help you for effective leadership in today’s fast-paced business world, not all of the MBA degree programs out there are the same. When examining any MBA program, make sure the program is accredited by an accrediting body, such as The Accreditation Council for Business Schools and Programs (ACBSP). ACBSP accreditation certifies that the teaching and learning processes of these programs within a business school meet rigorous educational standards. ACBSP is a leading specialized accreditation association for business education supporting, celebrating, and rewarding teaching excellence. Established in 1988, ACBSP is the only business accrediting organization for all associate, baccalaureate, and graduate degree programs.
A degree in an accredited MBA program can be the differentiator in today’s competitive job market, so be sure to ask questions about accreditation when talking to any college or university.
Do You Love Business?
MBA programs are business focused programs with some schools offering specialization in certain critical business-related fields. According to the Princeton Review, an MBA program is designed for students coming from the business field with work experience, especially those looking to return to the business field. Those not currently employed in the field of business and not looking to break into business might find their money wasted pursuing an MBA.
Expectations and Future Outlook
Every business professional considering enrollment in an MBA program should be able to clearly identify what their expectations are for their MBA. Some individuals are looking to accelerate their current career position while others are looking for new experience in order to move into a new sector of the business industry. Those without a clear direction in mind for their career would be wasting time pursuing an MBA without knowing if it will benefit them.
Additionally, according to the Princeton Review, it is important to have an idea what the job market is like now and what the outlook is for the future for MBA holders.
Do You Stack Up Against other Business School Applicants?
According to Monster.com, one of the most important factors in determining who an MBA is right and wrong for is how each individual stacks up during the application process. Business schools don’t accept just anyone into their programs. Part of the prestige of a business school is the success of its graduates, meaning they are not likely to take those who appear ill-prepared to succeed.
When considering enrollment in an MBA program, understand that business schools may looki at an applicant’s GMAT scores, undergraduate GPA, workplace experience, and answers to essays. Business schools are looking to admit students with an understanding of the purpose of an MBA and proof of some organizational savvy.
Do You Even Need the MBA?
Not everyone needs an MBA to advance their career. While the MBA is held in high regard, there are career fields and positions that do not require an MBA for advancement according to the Princeton Review. For some individuals, a certification program in their specialization is all that is necessary to provide their career a boost.
There is no doubt that an MBA remains a critical educational tool for many business professionals, but not for all. Before pursuing an MBA individuals should think about whether it is the right or wrong move for them.