If you prefer to remain on your current professional path rather than pursue an MBA program this year, it’s easy to justify your decision. There are just so many reasons to delay – or even skip – business school. Having provided free personalized evaluations to more than 25,000 potential MBA applicants over the past three decades, The MBA Exchange has heard them all! In fact, there are so many we need to summarize them in three blog posts.
Here are the first 7 of 21 reasons, along with our comments, for your consideration…
1. My current job is going so well I’d hate to leave and lose my momentum
Yes, it’s very difficult to walk away from a position that has responsibilities and compensation that you find satisfying today. However, an MBA education offers the knowledge and network to elevate your responsibilities and multiply your earnings far beyond what you could expect by staying put.
2. Today’s economy is so strong I don’t want to take myself out of the market
Yes, employment is high in many countries, so companies are paying well and recruiters are on the prowl. But economies change. Historically, the average “boom to bust” cycle is less than six years. An MBA degree can help you thrive during future booms and survive future downturns.
3. Getting a student visa is so difficult these days I won’t even try
Yes, it can be challenging for international applicants to get past this hurdle. But this isn’t true for all applicants in all countries. B-schools and companies that recruit MBA graduates are highly motivated to help qualified international applicants secure student visas. They can and will advise you.
4. The cost of business school tuition is so high I don’t think I can afford it
Yes, attending an MBA program is expensive. However, schools don’t want otherwise qualified students to walk away due to personal finances. Need-based and merit-based financial aid is more available than ever. And the long-term ROI on an MBA investment is truly unbeatable (see point #1).
5. Media reports say that the traditional MBA degree is no longer relevant
Yes, there are many new, specialized graduate programs available. But there can be a downside to a degree that’s deeper and/or narrower than an MBA. If you have 35 or 40 more years ahead in your career, an MBA offers you greater breadth, flexibility and network to change direction.
6. So many people in my life rely on me that I just can’t step away from them
Yes, you have a boss, family and friends who consume your waking hours. But life rarely gets less demanding. So, taking time now to add new skills, meet new people, and create opportunities via an MBA is not selfish. Those who respect and value you will understand.
7. I don’t have a specific career goal in mind yet so I should wait until I do
Yes, it’s important to know where you want to arrive before starting a journey. However, crafting a credible, hypothetical goal is very doable – especially with an experienced admissions consultant. Then, as an MBA student, you can confirm, refine or even replace that goal as you gain the knowledge, perspective and network that only a traditional MBA education can provide.
Do any of these 7 reasons sound familiar to you? If our observations help debunk obstacles that keep you from launching your MBA admissions campaign this year, we’d love to help you proceed with a comprehensive admissions consultation. Or if you’re still uncertain, just contact us so we can answer your questions and provide a free, expert evaluation of your candidacy.
And just in case we missed your particular issue, watch for Part Two and Part Three of this blog series in which we’ll present reasons 8 to 21 on why NOT to apply to business school this year!