Some may claim that having an MBA from a prestigious school looks great on your resume and opens doors. Sure, that’s certainly the case – if you’re looking for a job in investment banking or consumer product marketing. Otherwise it’s just another shiny star on your resume that attracts attention, but which usually won’t help you make the sale.
So then is an MBA valuable for the things you learn in the program? That depends on whether you actually end up using the material taught there, which is a combination of the following:
- Economics
- Finance
- Marketing
- HR & Organizational Behavior
- Information Systems
- Corporate Strategy
- International Business
So if the value of an MBA is not in the coursework, what else is there? Well, some people talk about the added perspectives they gain from the broader business education, but that is a nebulous benefit at best. Nay, the real benefit is something they don’t necessarily tout up front; it’s the interaction skills that you gain from group assignments, and the relationships that you develop with your fellow students.
The value of such skills and networking is difficult to measure, but it is definitely tangible. Still, is it worth the significant opportunity cost of taking two years off of work and going hopelessly into debt? Only you can answer that question. But if you can manage to take an MBA program part time, or better yet, have your company pay for it, that will make the decision much easier.