Is It Time to Get Your MBA?
Considering a career in business? Browse your options
Whether you’ve lost your job, or just graduated with a Bachelor’s in business, the thought of looking for work right now might make you want to cry like you did over that fourth year statistics exam. Staying in school, or going back might seem comforting, and there are plenty of good reasons to get an MBA. Just make sure you’re pursuing more business education for the right reasons.
Everyone Wants an MBA
According to the the Graduate Management Admissions Council, the numbers are up. A record number of over a quarter million people took the Graduate Management Admissions Test (GMAT) in 2008. And more than 75% of full-time graduate business programs report that applications are on the rise. All this translates to stiffer competition to get into business school right now.
It also proves you’re not alone. And all those people can’t be wrong, right?
An MBA is Not a Back-Up Plan
While your motivation to go back to school may in fact be driven by your current circumstances, you can’t let those who review your application know that. Never let decision makers think you’re just trying to escape the bleak job market. The application materials must paint your quest for the MBA as part of an intentional career path strategy. Don’t forget those compelling reasons why you want an MBA, why you want to study in the particular program you’re applying to, and a clear explanation of your career goals.
Taking Advantage of the Part-Time MBA
If you still have a job, but you’re concerned about the future, you may want to complete an evening, weekend, or part time MBA program. These can be completed while still employed and help you accomplish several things:
Improve standing with your current employer.
If the time comes when your company is forced to start laying people off, do you want to be the slacker who checks out a five o’clock or the go getter who’s studying business at night and on weekends? And the beauty of online MBA programs is that you can complete a lot of your work at work on your lunch hour.
Gain valuable skills.
Not only will studying for your MBA make you look good to your superiors, if you choose the right one you will actually learn skills that you can apply right away at work, increasing your value to the organization and decreasing the likelihood that you’ll catch the ax any time soon.
Get your education subsidized.
Many employers offer tuition reimbursement programs that can significantly reduce your out of pocket costs for obtaining an MBA. Especially if you know you need the degree to advance your career, you may as well get started while you still have a job and this valuable benefit to take advantage of.
Prepare for the future.
In the worst case scenario you actually lose your job. Having more education will only help you in your search for a new one.
If you want an MBA, and you can afford it – both in time and money – go for it. You certainly won’t be lonely!
