On the one side there are those who don’t believe an MBA is all that beneficial to an individual and that they can succeed just as well without obtaining the extra schooling. Most programs are two years attending as a full-time student. That is the ideal situation. Many individuals attend their program part-time or only complete evening courses due to the need to work full-time as they complete their degree. Another thing to keep in mind is that MBA programs cost anywhere from $20,000-$100,000 depending on the school you attend. However, we all know the importance of attending a highly regarded university that businesses accredit highly. One option of a university to look at for obtaining an MBA is Utah State University.
They have the option to be a traditional full-time student, or to complete their professional program which is nights and weekends. Jeffrey Pfeffer a professor at Stanford’s Graduate School of Business conducted a study which concluded that there was little correlation that obtaining an MBA correlates with career success. Other skeptics to the validity of obtaining an MBA recognize the many successful CEOs, business owners and entrepreneurs who did not receive an MBA and more shocking some that do not even have a college degree. Among these individuals include Michael Dell of Dell, Larry Ellison of Oracle, Steve Jobs of Apple and Bill Gates of Microsoft. This of course begs the question or at least consideration of the importance of education in a career sense.
These individuals have proven that they have been able to be successful through hard work and ingenuity not just based on an formal educational degree. There is also the other side of the argument. It is evident that people are able to succeed without an MBA, however, many people use the degree to go further than they otherwise could without it. Many people will tell you that the decision to obtain their MBA was the best decision they ever made, and it opened up the door for many more opportunities.
An individual who completes an MBA program and is able to pay for the tuition is not only talented but motivated and that looks very good to potential employers. The biggest advantage however of getting an MBA is the skills you learn which directly affects the value you bring in many capacities to any company or employer looking at you as a candidate. David Wilson the President of the Graduate Management Admission Council has stated “an MBA is recognized worldwide as a currency of intellectual capital, and its value will increase as the economy improves and businesses grow.”
I really liked how he used the term intellectual capital. Education is an investment of the mind. Your intellect grows dramatically and thus adding to your capital and marketability as an individual. In a survey of MBA students it was found that the most important benefits of the degree were the opportunities to improve personally, gain a desired credential and improve/enhance their career options. I personally value the benefits an MBA provides an individual and think that if someone has the ability and means they should go for it. Why wouldn’t you want to take an opportunity that you can learn and grow from?