One of our listeners, Clive Hearst has a bit of pickle he needs our help with today. He wants to know whether he should invest the time and money in getting his MBA. He wants to know what the true value is of an MBA, and whether it is a must-have for his career. The answer depends on a few things.
It might surprise you to know I don’t have an MBA. (Or maybe not). However, I have experience, and much of it leading teams and driving experiences for people, but I didn’t pick that up in a classroom or an internship. I learned it on the streets, and in interactions with clients, bosses, and subordinates.
I probably won’t get an MBA. I am closer to getting a fishing boat and a new tackle box than a degree at this point. However, I still say probably because there is a part of me that says, “never say never.” Part of me is interested in an MBA and I have to wonder why…
So, does an MBA have any value or is it just a piece of paper? In this episode, we try to help Hearst answer these questions for himself and shed some light on the current state of the MBA in today’s business environment.
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There should always be deliberate goals for everything we do in business, and that includes post-graduate education. Post graduate education in this case is an MBA, but the same goes for a Ph.D., law school, or medical or dental school, any other programs too. Part of the decision should always be one’s plans for what they will do with the education in which they invest.
Here are a few key moments in the discussion:
- 04:53 We start with one of the most important questions a person should ask themselves when considering getting their MBA, and the rest of everything will depend on the answer.
- 06:27 Ryan explains how MBA programs are structured and how long a person can expect to be in one, depending upon the program they choose.
- 09:54 Colin asks Ryan to explain some of the key advantages of getting an MBA, and the answer might surprise you.
- 13:04 We discuss the increased earning potential that can occur from getting an MBA, and how it sometimes doesn’t, and why.
- 20:20 Ryan explains how the most prestigious MBA programs tend to require several years’ experience before getting one and why that is.
- 24:50 We discuss how MBA programs are changing and what type of MBA might be a good investment for today’s business employee.
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