Most MBA students use their degree for career advancement, but nearly 1/4th of the participants chose an MBA program to change their career path. Unlike entrepreneurship where the need for an MBA program is often debated (there are however MBA programs with focus on Entrepreneurship), in other career tracks like consulting, marketing, finance and HR, an MBA program is invaluable. Alumni have vouched that more than anything else, an MBA gave them the confidence during their post-MBA journey. Those who are looking for Career change with an MBA, here are some value propositions:
1) Knowledge means Confidence
The core courses, the electives, the field trips, networking events and interaction with professors and peers, make an MBA class one of the most exciting learning environment. Each tool provides students with the knowledge necessary to make the career switch. Although the initial months can be gruelling and intimidating, most MBAs will learn the vocabulary and processes of the new job function.
2) Learning Framework
More than the knowledge that you gain, a new habit will be created with an MBA: life-long self-learning. Learning does not end with an MBA. The case studies that you picked in your industry might be obsolete in 10-years time. Then what? You have to constantly learn about your industry, its new trends and technological advances. Detractors might argue that self-learning is a personality thing, but with the required reading and discussions in an MBA program, you will develop new habits.
It cannot be emphasized more. Your peers and alumni network are the most valuable aspect of an MBA. Most of the job offers are received through alumni networks. There are many biases. Loyalty with a B-School brand is a predominant one seen among Alumni. If you are from the same B-School, an Alumnus is more likely to endorse you and take the risk. This action is valuable especially when many talented MBAs are competing for the same position in a weak economy.
Is an MBA really required for Career Switch?
It depends on the job that you are planning to take after an MBA. If you have worked with the company for a long time, the management will consider you for a different job function. You have to communicate your career plan with the management and shadow a few projects to learn the details of the new job function. Very few companies take such risks. If you are good as a technologist, it is expensive for them to move you from technology to marketing, unless they value your leadership. MBA certifies that you have the knowledge for the new job function.
Set Realistic Goals
To set realistic goals you should have a clear understanding on the post-MBA career path that you can take. Most Business Schools have career service team that will evaluate your aptitude in your desired job function. It is a good thing that you evaluate all your options before it is too late. With electives, networking events and internship, MBA students will get the chance to learn about the day-to-day activities for the new job function. Don’t be rigid with your post-MBA goals. Embrace new opportunities and find a job function that is satisfying. Money will soon follow.
2019 MBA Research Guide - Choose your MBA
F1GMAT's Comprehensive MBA Research Guide will teach you how to select MBA programs through a bottom-up approach.
Articulating your Post-MBA Goals and Career Path is the FIRST step. Which program will give you that hike in Salary, Switch in Career, Change in Location or Job Satisfaction?
We cover them all through our extensive analysis.
+ How to Choose the Best MBA Program: Factors to Consider
Define Post-MBA Goals
Pick your Path: Generalize or Specialize
Use Moral Algebra Method
Use Multi-Attribute Utility Theory
Understand the Top 5 Risks
Measure MBA Career Service Team's Effectiveness
Use Bookending to Calculate MBA Admission Chance
Use Net Present Value to Calculate MBA Return on Investment
Don't Fall for the Mere Exposure Effect
Best Practices to find the truth in MBA Information Session or MBA Tour
Comprehensive MBA Research Guide: Includes Top MBA Programs by 19 Specializations:
+ General Management
+ Operations Management
+ Supply Chain Management
+ Luxury Management
+ Information Systems
+ Hospitality Management
+ Leadership Development
+ Military &
+ Top MBA Program Ranking
Top 20 MBA Programs - Tuition Fee (2018)
Top 31 MBA Programs in United States – Total Cost & Salary (2017)
Top 60 MBA – GMAT and GPA (Average & Median)
Top 20 European MBA Programs - Tuition Fee, Total Cost & Salary
Top 20 European MBA Programs (Based on Actual Salary Increase)
Top 20 European MBA Programs (Short-term return on investment)
Top 20 Affordable European MBA Programs
Top 10 MBA in UK – Salary & Fee (2018)
Top MBA Destinations Based on Happiness Index
Top MBA Destinations based on Innovation Index
Top 10 MBA Job Markets based on Cost of living and Purchasing Power
Top MBA Destination: By Economy
+Comparisons - Top MBA Programs
Wharton vs. Columbia MBA (2018)
MIT vs. Stanford MBA (2017)
Haas vs. Ross MBA (2018)
Kellogg vs Ross MBA
Booth vs Wharton MBA
MIT Sloan vs Tuck MBA
IMD vs. INSEAD MBA (2017)
IIMA vs. ISB (2017)
+ MBA in France (2018)
Top Industries in France
Top MBA Programs in France
+ MBA in the UK (2018)
Top Industries in the UK
Top MBA Programs in the UK
Scholarships in the UK