The decision to pursue a Master of Business Administration degree should also be well considered. The M.B.A. can be an effective career step if you’re realistic about what the degree can do and understand how it fits into your career path. If you’re thinking about obtaining an M.B.A., carefully research your career goals and the various M.B.A. programs you’re considering to ensure that the degree will enhance your credentials as you enter the job market following graduation.
The M.B.A. can assist a person in acquiring an array of management tools and in learning theories that will lead to effective management. It will also give a broad exposure to the business world in terms of job functions and industries. And often, if the program is chosen well, the degree will open many doors in the business world, since companies often use the M.B.A. to screen top candidates for their best and most demanding management careers.
Undergraduate academic success and a respectable score on the Graduate Management Admission Test (GMAT) are required by most schools, and full-time work experience is valued also. In addition, candidates must bring certain innate talents and basic skills to business school. Leadership and communication skills, ability in logical analysis, and some management perspective are qualities that M.B.A. admissions committees seek. Candidates should have a demonstrated record of achievement in the work force, be team-oriented while also having strong individual decision-making skills, and have excellent interpersonal skills.
When selecting programs, it can be very helpful to focus on a career area. Whether it is finance, marketing, operations, consulting, organizational behavior, or any other area, you should already have examined your career goals sufficiently to be directed to a functional area and to have in mind a few firms where you eventually hope to work. Then, research schools in terms of their academic strength in your area of interest and their placement opportunities. By obtaining the placement reports from M.B.A. schools, and by calling target firms to identify schools where they recruit and what kind of background is most desirable to them, you will be able to choose appropriate schools as well as plan your curriculum and extracurricular activities. Be prepared to manage your time in the M.B.A. program—classes, company presentations, and on-campus interviewing will require an inordinate amount of time; there will be little time for broad, in-depth career exploration once you are in the program.
Additionally, you may want to consider the schools’ academic approaches. The case method and the quantitative method are approaches schools use to teach management skills. The case method requires class discussion and group work in solving general or specific problems through the use of actual business situations. The quantitative method emphasizes using a pattern of quantitative analysis in solving a business problem. All schools use both to some extent, but some schools have a greater bent toward one than the other. Students who have strong backgrounds in economics, math, or science may be more comfortable with a quantitative approach, while students from a more qualitative background may prefer the case method. However, you may want to choose an approach that will strengthen your weaker skills instead of a method in which you have already proved your proficiency.
Ultimately, deciding to pursue the M.B.A. degree should come from a desire to sharpen your managerial skills and gain new management tools. If you are unsure of your aptitude for business or your long-range interest in the business world, the best course of action is to work full time before deciding on the M.B.A. If you find business is right for you after experiencing it firsthand, you will find your credentials strengthened for the best schools as well as for M.B.A. employment since employers prefer M.B.A. candidates with two or three years of experience. If you find that a career in business is not what you want, you will save time and money by not further pursuing a career you would eventually leave. You will also have had a chance to test other skills, which will assist you in directing your energies along another career path.