If you’ve decided that pursuing an MBA is the optimal path towards success, you should do your best to do as much research as possible. An MBA cannot be an afterthought or a secondary goal. If you have not considered such a degree but do have an open mind about trying new things, this article is also for you.
While I do not have an MBA myself and specialize in reviewing online essay writing sites such as Essay Examiner, I am interested in education from both a professional and personal standpoint.
What is an MBA?
An MBA is a practically minded education program that seeks to expand students’ existing base of knowledge in a way in which it can be used in the current marketplace. To put it bluntly: you will not learn arcane or abstract equations and theorems but essential skills applied in the workforce.
If successful, you will earn a Master of Business Administration degree.
That being said, let’s take a look at some factors to consider before deciding on an MBA:
1. Get your finances sorted.
This degree is expensive. Even when taking into account the rate of inflation, it will still exceed any reasonable price range. Of course, it depends on the country and the school in which the degree is pursued.
Taking the United States of America as an example, the lower end of the cost range reaches around 50,000$ – 60,000$. And these are the cheapest ones available.
If you wish to study at a famous business school, the prices can range between $100,000 – $200,000+. It should also be noted that the inflation and price stats are so bloated that it can be expected for the cost to grow year-by-year.
2. Ask questions
Nobody wants to seem dull-witted. Most of us have been guilty of not understanding something but abstaining from asking questions out of shame. It is widespread for students to miss valuable opportunities and skip asking useful questions to maintain an illusion of knowledgeability.
You have to get past this impulse. The odds are that you are spending somewhere around 1000$ per day to take this class. Don’t just accept a Windows Movie Maker presentation as the teacher presents word-for-word what you could already read out of a textbook.
Challenge your teacher, ask for practical advice and examples. Also, do not be afraid to admit when you do not understand. Doing otherwise will just throw away your money and time.
3. Do extra work
Most MBA’s assume some degree of prior knowledge. If you refuse to prepare yourself for classes by reading up on a specific topic, you will have trouble keeping up. Also, it is more productive to have a general idea about the lesson.
Being prepared will allow you to ask informed questions about the lesson as presented instead of spending all of your energy taking notes and keeping up with what the teacher is saying.
4. Compare notes with your classmates.
Taking notes is an art form. Of course, it is almost impossible to write down everything while also paying close attention to the teacher’s explanation. It will be in everyone’s best interest if you and your colleagues decide to compare notes. This allows students to fill-in the blanks of their respective notebooks.
Although, using notebooks is not obligatory. Modern tools such as OneNote, Evernote, and Google docs can be shared digitally with everyone at the same time. This makes comparing notes much easier.
If you are antisocial by nature, you should consider being more collaborative before starting your MBA.
5. Make friends
This can be considered an extension of point 4. Everyone has different affinities and talents. Some of your colleagues may have a knack for accounting, while others have a keen mind for supply chains or statistics.
Pay attention to everyone, make friends with them, and ask for advice. It is in your pragmatic interest to make friends. It will help you emotionally and in business.
6. Connections are for life.
For those who are a bit antisocial and withdrawn, I know that is it frustrating to realize just how much of the business world relies on forming contacts and sociability. It is not worth pursuing an MBA if you don’t like dealing with people.
Even while taking classes, you must realize that there are not many people following this path. And as you become more and more successful, the community gets smaller and smaller.
The odds are very high that you are going to see these people after graduation. Some of them will be future co-workers or superiors. One day, you might ask one of them for a promotion or a letter of referral.
Regardless of what you do, consider that your fellow MBA students matter. What you say and do while studying will follow you for your entire career.
7. Learn to take initiative
Real-life is hard and brutal. Some people are scared to make mistakes because a mistake can ruin them. Yet, the business world thrives on risk-taking and daring.
My point is not about starting a business as a student, but you must develop that hunter attitude. Don’t just wait for things to come to you.
Sitting in your place and listening is not enough. Nothing terrible is going to happen if you challenge your teacher. Ask, probe, and think. You must develop that pro-active instinct while the stakes are low.
8. Use free time wisely.
My college dorm room was always spotless because I loved doing chores. It’s not because I liked the work itself, but it allowed me to listen to radio or audiobooks.
Use your free time to further your knowledge. Audiobook websites have excellent collections, especially economics books.
You can passively absorb entire libraries while also doing productive tasks such as driving or cleaning your kitchen.
9. Practicality is key
Don’t just be another student who ruined his life, plunged himself into debt for a useless degree. The whole point of an MBA is to learn practicality and applicable knowledge. Until you graduate, you should focus on as many case studies as possible.
They are the closest thing to a situation in the real world, and you will learn a lot from them.
10. Avoid bad schools
Just because a school is three blocks away from your house, it doesn’t mean that you are obligated to go there. An MBA is too expensive to risk wasting your investment. Select your schools based on competence, not convenience.
You can also change schools if you are not happy with your current program.
Pursuing this degree is one of the most important decisions that you will ever make. If you are like most people, it will plunge you into lifelong debt, so make it count.
In terms of attitude, be proactive, friendly, and energetic. This isn’t touchy-feely advice. It is the optimal way to gain support, form connections, assimilate information, and be successful.
Despite what anyone will tell you, there is a business class and a business community. It’s not that large, and everyone knows each other.
Take your place in this community.