Articles

Deciding Whether To Get An MBA Or Wait

2010-08-19

The question of when to get an MBA, or Masters of Business Administration degree, is never an easy one to answer. It can often seem like there is a "perfect" time to go back to school to get an MBA, and that missing the window of opportunity can cost a candidate over the length of the career. However, earning an MBA is also not a decision to be entered into lightly. There is significant time, expense, and energy involved - not to mention commitment, drive, ambition, and sacrifice. Earning an MBA may well be one of the most significant decisions an employee makes, and deserves the full complement of research, consideration, and respect for what must be given up in order to make the dream of receiving an MBA degree come true.

In an economy that is laying off more employees than it is hiring, it could seem like an easy decision to give up on an uncertain job market and instead opt to return to school to get an MBA. For new bachelors degree level graduates, it may be an option to simply continue on in school and that may make sense if the job search has not yielded satisfactory results post-graduation. However, many employers want to see job experience as well as educational credentials on a resume, so it is a subjective judgment call at best.

Additionally, there is often the option to receive partial or full reimbursement by an employer for pursuing higher education. An employer is often willing to pay - even in today's struggling economy - for a valuable employee who will become even more valuable with the additional expertise that earning an MBA can bring. In this light, it can make good sense to find a job position where you have inquired during the interviewing process as to whether reimbursement for higher education is available as part of the employment package. Finding a good position with a company that reimburses for higher education can save thousands of dollars that would otherwise need to be spent out of pocket to get an MBA.

The best way to decide whether to get an MBA now or wait is to take a look at the big picture, and the major reason for considering earning an MBA. If the reasons are sound and relate to big picture goals then the answer is most likely yes. If, in contrast, the choice to return to get an MBA is based on short term events, it can make sense to take more time to think through the big picture before making a decision.