Truths No MBA Admission Consultant will share

There were no injuries, no blood oozing out, but the 21-year old biker laid motionless. The pulses were regular. Suspicious of the nature of the injury, the Doctor moved his hands around the head. A coin-sized hole punctured the man's skull. Just as he was examining the chest area, a vibration with blue light emitted from the biker's dusty front pocket. 

The phone showed "Mom." 

The Doctor couldn't pick the phone and share the horrible news. 

That evening my brother - the Doctor, had a few extra rounds of whiskey. Last week when I saw him, he has turned into a veteran in managing patients in the Intensive Care Unit. 

6 years have passed. I asked the same question I asked him the day we met for drinks, "What upsets you now?"

He gave the same answer, "Young people wasting their life on cheap thrills."

All our major career decisions are made in the teenage years when the pre-frontal cortex - the region of the brain that controls impulses, is not fully developed. So we jump into careers that looks good on paper or for the society and hope to acquire the lifestyle that we envy.

Years pass, you acquire the comforts of life and reach a stage where money is not the motivation anymore. 

Spinning "selling sugary water" as "bringing joy," or dumping complex lies as Financial products aren't exactly what you had envisioned as a teenager.

Deep down, you don't believe in your company, but hey, the money is good. 

You try to hide the uneasiness with excesses of life, but the emptiness doesn't go away. 

You start asking deeper questions - "What is the purpose of my life?"

Purpose

"To create an environment that harnesses technology efficiently and enable a future full of possibility," I shouted on top of my lungs. 

"What?" shouted back the cohort of 25 colleagues who joined me for a weekend retreat - Perspective. The goal of the retreat was to find out the purpose of our lives.

"To create an environment that harnesses technology efficiently and enable a future full of possibility". 

The statement had gone through 12 edits in 3 hours. Yes, 3 hours taking turns with my colleagues until everyone one in the audience felt that I genuinely believed in my purpose. The emotion, the authenticity and the pitch of the voice should all sound wholesome to get the final approval.

Am I fulfilling my purpose with F1GMAT? 

Maybe for some of you. Maybe for many, I am just an eager consultant trying to sell books and services.

The truth is that you don't have one purpose. 

When 21-year olds call me and worry out loud about what to do next, I always say - explore multiple career paths, hobbies and volunteering till you turn 27, then develop a plan. 

22 to 27 should never be a time when you are tied to one job. 

Ask any Entrepreneur what they really want. 

They will all unanimously say - time. 

Time to test ideas, meet interesting people and change the reality of our world. 

Time is your only enemy. 

Your financial independence is guaranteed. 

Wealth - you have to play the cards right. 

An MBA will change your life only if you choose to do so. The exploration is not unending. Even in selecting electives or chance encounters of Global Immersion programs, the choice to expose yourself to a new culture, a new job function or a new industry is yours. Without taking the risk, the pre-ordained path based on return on investment will limit your learning experience. 

Not every day you get the chance to work with colleagues from 60 nationalities. Embrace the opportunity, develop a 2-career strategy, and explore with purpose. 

Novelty Bias

Career switchers are likely to face more 'what is the purpose of my life' moments in the next 3-5 years even in their dream job. This is not an older guy to young blood truth but the reality of doing something that you love. 

If you love something, you will invest the time to learn everything about the industry, the function and the nuances that only an expert can tell. Depending on your learning capability, the 'essential skill' that gives you an advantage over 99% of your competitors can be acquired in a year or two. 

Then what will you do?

There will not be any MBA escape routes. You have to reflect, find interesting problems to solve and keep exploring.

Don't take an MBA if you are burned out, or you assume happiness with a new career path.

Take an MBA if you hate your current job - the function, the industry, the culture or the day to day responsibilities that the job demands. 

Nobody deserves a life imprisonment for a decision made as a teen.

Take an MBA if you have negotiated unsuccessfully on switching the job function. Employers rarely take the risk. You are an unproven commodity. What made you successful as a functional expert might not make you a great Consultant or a Financial Analyst 

Start with your personality and interests before picking an industry or a job function.

Opportunity Cost

When we wrote how to calculate return on investment based on Net Present Value, we put a dollar value on the opportunity cost (the lost salary when you are doing an MBA). That doesn't mean you make every decision based on dollar value. 

How does it matter if you are in a job that you hate but you are paid handsomely. 

The stress of the daily struggle would diminish the quality of your life. 

If you are unhappy at a job, you will do the bare minimum to survive. The team loses productivity and eventually the company's bottom line is affected.

Why suffer and cause collateral damage?

A 2-year MBA is the perfect tool to explore a new career path. Shortlist programs that match your attitude and values. Reach out to me for a free consulting session. 

Entrepreneurship

A full-time MBA is not for Entrepreneurs. I know that this is not the opinion many Business Schools will share. I have published the case for and against MBA in F1GMAT 

Entrepreneurship: 5 Reasons Why MBA is not necessary, ROI is just one factor...Bigger Issues Still Exist
Low Number of Entrepreneurs from Business Schools? Increase Perceived Capability & Address Fear of Failure
Do you need an MBA to become an entrepreneur?

Even a preliminary research on successful Entrepreneurs with an MBA will reveal that they are in the minority. This partly comes from the tremendous pressure MBA students face while accepting or rejecting a $150,000 offer. It is not easy to forgo such remuneration and hang-on to a vision that would take anywhere between 3 to 5 years to see the full potential. The money is too tempting, and you would have already invested close to $150,000 on an MBA. The thought of Return on Investment can derail even the most determined Entrepreneur. 

Another reason why MBA is not ideal for Entrepreneurs is the cost of technology. If you look at a 20-year average from 1997 to 2017, the cost of software/technology has come down by 67% in the US whereas the cost of education and housing have increased by 150% and 58% respectively. It doesn't make sense to invest in one of the most costliest education programs (MBA) and sacrifice 2-years when you can utilize the time to develop and test the product/service.

If the nature of your Business need fundraising (over $5M), opting for Schools with a rich history of funding and mentoring Entrepreneurs would be a strategic move. Harvard, Stanford, MIT, Babson and Oxford MBA are five programs known to support Entrepreneurs (Social and for-profit). For every other school, MBA is a death knell for Entrepreneurship.

Cautious Optimism

For Technologists and Functional Experts, an MBA is the transitionary break that will lead you to General Management, Marketing, and Finance, but placement doesn't happen in isolation. 

Pre-MBA experience, internships, the utility of the curriculum, networking, industry trends and emerging technology will determine your post-MBA industry.

As a follow-up, read MBA in the US, MBA in the UK and MBA in France - to find programs and industries that match your aspirations.

You can always reach out to me here with our free consulting.

For your Success, 
Atul Jose
Editor/MBA Admissions Consultant, F1GMAT