Mary writes:
Hi, wondering if you can help with some advice. I am a 38-year-old, managing a mechanical business. In 2008 I completed a degree in business management and cannot believe the value received from it. I have gotten a lot from the experience — and I want more of it. My goal is to fully understand businesses of all shapes and sizes. How beneficial would earning an MBA be to achieve my goals?
The Career Doctor responds:
An article published in Business Week a few years back was titled, “Is the MBA Overrated?” One of the points the article makes is that from their research, the MBA degree is not a requirement to reach the upper levels of management in U.S. corporations. However, top executives who did have an MBA earned almost 20% more than their counterparts without such a degree.
But I also think the logic of the article is flawed because while the MBA degree has been around for a long time, it’s popularity and importance really reached a higher level starting in the 1980s — meaning that many of today’s top executives are from an era when the MBA was not as popular as it is today. I think if we were to do a similar study of mid-level managers instead of senior management, we would see a much different picture, with the majority holding an MBA degree.
That said, of course I am in favor of everyone continuing with their education. Life should be an on-going learning experience, and to not only move ahead in business, but to learn more about business, you should consider obtaining an MBA.
What is an MBA? It’s a Master of Business Administration degree, granted after one to two years of graduate-level university study that provides training in the theory and practice of business management. The MBA is basically a document that certifies that you have a general competency in all the major functional management roles you’ll find in the modern corporation.
Read more in this article published on Quintessential Careers: The Master of Business Administration: Is the MBA Worth the Time, Effort, and Cost?
