Here are the 5 Questions to define Post MBA Goals

Before researching about Business Schools and MBA programs, it is important to have a clear understanding about the Post MBA goals. “The Why MBA” question is a common one seen across MBA Application Essays in Business Schools, and you should have a convincing answer before even starting the research. The goals should be specific, and not like “I want to work in consulting”, after an MBA. We have created the guidelines for creating post MBA goals.

1) What salary increase are you targeting

Although salary increase should not be the primary motive for an MBA, it is certainly a key element when it comes to picking a school. Read Post-MBA Salary of Top Business Schools, to get an understanding of return on investment with a top MBA program.  If you look at the fees of top MBA programs, it is clear that schools with bigger return also has a higher fee, and has several scholarship opportunities, and funding options. It would be unwise to choose MBA programs based on cost. The return on investment - 1 year, 2 years, 5 years, and 10 years after an MBA should be evaluated, and the ROI measured before choosing an MBA program.

2) What industry would you like to work

Switching job function is one of the goals pursued by nearly 1/3rd of the Class but switching industries is not a goal that is actively pursued. This is evident with the recent GMAC Alumni perspective report, according to which

“more than one-third (34%) of the class of 2011 were employed outside their intended industry”

When you research about the effectiveness of Career Service, find out the industries that you would like to work after an MBA, and read the employment report, and confirm whether the ties that the Business School have with industries, increases your chances to get into the industry of your choice.

3) What would be the job function?

Most applicants look at MBA as a tool for switching job functions. Have a clear understanding of the program that supports this goal the most, and apply only to those programs. Never pick an MBA program based on ranking and reputation alone.

Again, employment report is an important document that applicants should analyze, and evaluate. Most reports will have a breakdown of employment by Industry, Job Function, Geography, and Salary.

4) What would be the daily responsibilities

Applicants are often blinded by the opportunity to switch job functions that they forget to ask this important question – “What would my daily responsibilities be like?”

If you are a creative problem solver and the new job function requires 80% analytical skills, and 20% creative, your goal would be meaningless. Eventually, you will not be happy with the new role, and the MBA would add very little value in the long run. Understand this and talk to people in that position, and ask them if an MBA was worth it.

Ask Alumni who are in your dream role about the daily responsibilities. Do understand that your strengths, and weaknesses are different from that of the alumni, and their career choice cannot be generalized under the decision taken by an MBA in a particular demographic. It is tough to evaluate an Alumnus or Current student’s strengths, but by parsing through their work experience, and achievements, you can get a fair idea about their strengths and weakness. It is important to ask them about their hobbies and passion. If their profiles match with yours, at least by 75%, then their career achievements (promotion, salary increase, and increase in choice) should be the baseline for measuring the potential of an MBA program. 

Alumni can offer great insights into what it is like to be in that dream role. Does it sound interesting? Remember that Alumni in the initial phase of your dream role might experience different job responsibilities than the one in mid or senior level position. If possible, interact with Alumni in each position, and get a sense of what they do on a daily basis.

5) Where would be the Job location?

Job location plays a big role in Return on Investment, Quality of Life, and general happiness in a post MBA world. Find out the opportunities, and choices that an MBA offer in that regard. 

The Economy of the Country, the long-term growth potential, and industries that fuel the growth of the economy are factors that should be considered when you have the choice of selecting a Job Location after an MBA. We have evaluated 5 Year data, including the turbulent 2008-09 period before creating the list of the top MBA destinations of the world. The economies that have made a strong comeback after 2008-09 are locations that you should consider. They have strong fundamentals, and potential to withstand another fiscal crisis.