Trident ConsultingTrident offers training, consulting and recruiting services to business professionals.

I attend hiring conferences pretty frequently, and I am often asked if getting an MBA is worth the effort.  My answer is always… maybe.  There are a lot of factors to consider when contemplating entering an MBA program.   What type of program?  Full or part time?  Executive or traditional? Online or brick and mortar?  Who is paying?  Etc. etc.  But the main question a perspective MBA candidate must ask himself or herself is how the program will support career goals. 

Earning an MBA for the sake of earning an MBA is not a wise decision in my opinion.  Regardless of the program type, earning an MBA requires considerable effort and sacrifice.  For full time students the sacrifice includes the opportunity costs of lost income combined with the real costs of funding the program and living expenses for 2-3 years.  Part time and executive students who are working full time can plan on extending their work week by 15-20 hours each week for the duration of their programs. So again, earning an MBA is not easy, despite what some attorneys may think.

On the other hand, earning an MBA from a good school can be career enhancing.  I completed an Executive MBA while working for Rolls-Royce in the UK.  During my 2 year course, I was promoted twice and my salary tripled from the time I entered to present day.  While my good fortune cannot all be accounted for by my decision to earn an MBA, I can honestly say I would not be where I am right now in my career if I had passed on Rolls’ offer to send me to Bath for the program.  And the average salaries for MBA recipients from top schools in the US and in Europe seem to support the notion that from a financial and career perspective earning an MBA is worth the effort.

However, I always caution people who approach me with this question that earning an MBA, or any other advanced degree, is no substitution for hard work and exemplary performance in every job.  It goes without saying that there are many successful executives out there that never went to business school.  They got to their positions by being competent and smart in their early roles. 

So the short answer is, yes.  If you are prepared for the sacrifice and hard work, have a career plan, and are already a high potential employee, then an MBA is certainly worth the effort.  On the other hand, if you are considering entering an MBA program to make up for a deficit in any of the above, you are probably wasting your time.