The question of whether to pursue an MBA versus credible work experience has always been a consideration for business grads, and it’s even more relevant today with the skyrocketing cost of higher education.
While having an MBA may be a prerequisite for some roles, writes Inc., hiring managers are increasingly leaning towards credible experience over advanced degrees to find the best candidate.
Pursuing an MBA is a major commitment of time, energy, and money; here are some points to consider before making the leap:
• Financial Investment—Depending on the business school and the academic pedigree, MBA tuition rates can be quite expensive. Roles in areas such as finance may expect an MBA, but in other career areas, it may not elevate you enough to make sense financially.
• Opportunity Cost—Due to the challenging course load, many candidates opt-out of working full-time during graduate school so they can dedicate time to their studies and group projects. The downside is that they’re generally not earning relevant work experience.
• Value of Experience—More companies are acknowledging the value of experience over higher education, especially in roles heavy on creativity.
• Differing Skill Sets—Some of the traits that make someone an excellent student don’t hold equal value in the workforce. While an MBA curriculum certainly teaches valuable skills such as time-management, organization, and subject-specific problem-solving, these skills would ideally be balanced with deeper experience typically earned on the job in areas like leadership, networking, collaboration, and innovation.