MBA: Is it Worth it or Not
Doing an MBA is a major decision. There is a lot to think about and consider. In essence, it is an investment in ourselves as it will build our future. It can help an individual with their career, or not; this is a matter of perspective. It is a commitment financially, as they are expensive. It is an investment of a person's time and energy. There are various avenues a person can pursue this degree, including traditional classroom settings, full-time and part-time paths, executive routes for mature adults, and online. To make it more complicated, there is competition among institutions offering MBA programs.
As pointed out, this is a noisy marketplace. Deciding whether to pursue this type of education, the kind of program, and which institution can be overwhelming. With that, in this blog, I want to share my guests' experiences in this endeavor. Furthermore, as a graduate of the Executive MBA program from the University of Calgary, I will add my perspective. In this article, I will cover the differences of the various avenues a person can take for an MBA. What motivates people to pursue this degree? I will address specialized MBA programs. This is something that a graduate with a B. Com should consider. To conclude, I discuss the investment, expectations, and the application process.
What really differentiates MBA paths
Generally, across the board, an MBA offers similar courses. It does not matter if it is part-time, full-time, or executive. A student will take classes in accounting, finance, strategic planning, human resources, business management, and leadership. The work is similar as well. A person will write papers, take exams, and give presentations. What separates the types of programs and the institutions is the student body.
My interview with Katie O’Malley https://www.thecareerguy.ca/episodes/nbspmaking-a-difference shares her experience working at the University of Chicago, home of the Chicago Booth MBA program. In her role as a career counselor in this prestigious program, she notes that this program, along with similar ones, attracts inspiring leaders.
People who see themselves as CEOs, executive leaders, or public leaders. In these programs, students are surrounded by individuals who have the same ambitions. In a two-year program, this becomes infectious, and the exposures with peers can accelerate leadership quality in a person. This is how leaders are built; they surround themselves with like-minded people. This can be more relevant than the coursework.
Motivations: degree, pivot, or leadership
Conversely, an MBA is more than leadership. It is a general degree that can complement any education or profession in any industry or business, such as engineering, sciences, law, and the list can go on. It is an opportunity to learn how the world works, especially in business. My interview with Leslie Hetherington https://www.thecareerguy.ca/episodes/a-story-teller conveys her reasons and experiences from her MBA endeavor.
For Leslie, as a mature student (she completed this degree in her forties), it was getting an official university degree. As an accomplished professional in public relations, she felt something was missing. She had an array of diplomas and certificates, but felt a need for a university degree. It was this desire that drove her to pursue the MBA program at Royal Roads University in Victoria, British Columbia.
The program incorporated distance and in-class learning. However, more importantly, it was an opportunity to learn about areas of business that she did not deal with, such as accounting and finance. As mentioned, a graduate with an MBA will develop a better understanding of the various aspects of business.
A similar example is James Elian. As a pilot, James had a diploma. Unlike Leslie, the trajectory of his career was changing as he explains in his interview https://www.thecareerguy.ca/episodes/climbing-the-corporate-ladder. He was taking on a more administrative role at the company (AirSprint) he worked for. It was his new responsibilities that led him to pursue his Executive MBA at the University of Calgary. He explains that the courses run every second week for the entire Friday and Saturday. The time away from class was spent on projects, readings, writing papers, and other assignments. The benefit for James was that he applied what he was learning to work projects.
This implies that an MBA, in conjunction with other education, knowledge, and experience, is beneficial for any career. In essence, it helps a person expand their knowledge into areas that individuals may not be familiar with. Furthermore, programs such as these enable students to integrate work and learning with other professionals, benefiting everyone. Classes are about sharing experiences, and students learn from other students. It is with this idea that students with a Bachelor of Commerce may need to consider when choosing an MBA route.
Business background vs. specialization
A general MBA echoes the coursework of a B. Com degree. It is worth noting that MBA programs cater to a body of students who have no formal training in business. The courses cover the fundamentals with some higher-level business classes. There is an overlap of what graduates of a Bachelor of Commerce would have learned. Therefore, a graduate with a B.Com degree may gain more by pursuing a specialized MBA, such as finance, human resources, operations management, and accounting. The idea is to further knowledge in any specific area of interest.
The investment: expectations vs. reality
An MBA is an expensive degree, which can create high expectations from the program and graduating prospects. Keep in mind that any educational undertaking is about growing. A person will come out changed; they will see things differently if they want to. In essence, what someone puts into their course is what they will get out of it.
Also, it is what a person will do with it upon graduating. As with James, it helped his career. His trajectory in management was already in motion before he started. His EMBA helped amplify and validate this path. Leslie’s satisfaction comes from finally holding a university credential and enjoying the learning process as a seasoned professional.
It is seeing the bigger picture for ourselves. This does not mean that we will be like James climbing the corporate ladder. Some will, some will not, but they may do something else with it, as pointed out. It is a business degree, but there are many facets a person can use this type of education for, or any education for that matter. In essence, this should not be used as a means to an end.
Admissions, story, and “not playing small.”
My experiences (work, education, and guests from my podcast) have taught me to use a person’s imagination when applying. In doing so, it may add clarity on why a person is driven to such an end goal.
Selective programs do care about numbers—GMAT scores, transcripts, and resumes—but they also care intensely about the story a candidate tells. Schools are looking for applicants who can articulate both what they bring to the cohort and what they intend to build after graduation, which is why statements of intent and essays are so central. As Katie O’Malley put it, when a person gets accepted, they are there for a reason. Make the reason clear and don’t play it small.
An MBA is an investment in possibility: it can widen a person’s world, deepen their understanding of business, and open doors—but only if they enter it with clear intent and use it as more than a credential. It is expensive, demanding, and competitive, so the real question is not “Is an MBA worth it?” but “What future am I trying to build, and is this the right tool for it?”Thanks for reading, and I hope this blog helped. There will be more on this topic in other blogs.