The Results Are In!

It seems that days are numbered for those thinking than an MBA is their ticket to a new career path.  Apart from management/strategy consulting firms, an MBA seems to provide limited leverage to making a change in your career. One of the fortunate ones who has made a successful transition said they knew they had to commit 110% towards getting top marks to be considered by consulting/Private Equity firms - and of course only a small cohort can achieve those coveted top-of-class grades.  The fact that some of the strategy consulting firms have designed their own in-house intensive training modules to cover the relevant segments of the MBA course has also taken away some of the need to sign up.

One respondent who completed a senior executive MBA program over 18 months whilst still working did believe the program helped to frame the direction they would like to take, as they had more time to think about what they really wanted to achieve in their career. Their advice:  “Take note, if you take this route, be prepared to sacrifice your annual leave for the 10 x 9-day intensive modules whilst continuing to study in between and working full time. I was fortunate enough to be able to afford the $150k + cost so some barriers to entry for the less privileged. Whilst it’s a nice to have on my resume it didn’t necessarily add any value to the next steps in my career to date”

The most positive feedback came from the senior business leaders doing the 14-week intensive short course at one of the top MBA schools. They found like-minded people who bonded closely and have developed an exceptional alumni network of CEO’s and future CEO’s. The added benefit here of course is that their employers are likely to be funding their studies.

So - our takeaway is :

(1) You should do your MBA at a top school, which is cost-inhibitive so do your ROI calculations! A high majority say it’s not a very good return

(2) An MBA is no magic ticket to transitioning to a new career and if it does - well done, you are one of a select few

(3) An MBA doesn’t guarantee a bump up in compensation, at least in the short term

(4) Those with experience say: “Identify what you are trying to achieve before committing to an MBA as there may be better aligned courses to your goals or you might seriously opt to do nothing at all”

Overall, the allure of doing an MBA seems to have lost some of its gloss and a long-term downward trend is in play.

Thanks to all those who participated.