Things You Should Know Before Starting an MBA
Read this article if you are thinking about Business School
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As I am sure most of you know, MBA stands for Master in Business Administration, an incredibly expensive management course that lasts between 12 and 24 months and will prepare you for an elite career in the business world.
Many students start an MBA because they want to do the “Triple Jump”, namely changing sector, title, and location. Some people want to go from Marketing to Investment Banking or from Operations to Consulting.
I started my MBA back in September at Warwick Business School in the UK and despite the issues associated with Covid-19 and online learning, I am overall having a great time. I am meeting talented people and learning a lot on a range of cool subjects like strategy, finance, marketing and leadership.
Generally speaking, I believe that an MBA is valuable if done for the right reasons and of course, some MBAs are better than others in terms of academic content, connections with potential employers, etc.
Therefore, when choosing an MBA, think about why you want to do it and do your homework.
This article is not about which MBAs are the best, which ones you should apply to, or whether I think an MBA is a good investment. This cannot be generalized and each person will have a very different experience depending on her or his specific situation.
Instead, in this article, I will list four things you should be aware of, before joining the course.
Moving between industries and job function is not easy and the competition among MBA candidates is fierce
Moving across sectors, especially across very different sectors is quite difficult. For example, if you are thinking to move from a Pre-MBA role in HR to a straight after MBA job in Investment Banking you are up for a challenge.
I am sure that if you are talented and network your way in you can do it, but trust me is not going to be easy.
To understand whether your target Post-MBA role is achievable, do not trust the Business School Marketing Manager word for it. Ask about statistics and go on Linkedin to look at the alumni profiles. What were they doing before the MBA v after the MBA?
You are learning many different Business related subjects so do not expect to go too deep in any of them.
A classic MBA will provide you with a flavour of each Business Related subject available. In particular, you will learn about strategy, corporate finance, marketing, entrepreneurship, operations management etc.
As you are going to learn many different subjects in a fairly short amount of time, expect the classes to be fairly basic. For example, in my strategy class, we used the book that is usually given to undergraduate students.
Therefore, if you have a Finance background and you want to learn more advanced Finance stuff, the MBA may not be the best option for you. A Master in Finance could be much more advantageous.
Cheap MBAs could actually provide you with lower-Value for Money
An important part of the MBA’s value is the brand that you can show off with recruiters and hiring managers.
Competition for good MBA jobs is brutal. I have seen openings reaching 600 applicants in the first 24 hours from posting on Linkedin. Given the high volume of applications, recruiters will screen MBA candidates based on the school they are coming from.
I suggest you have a look at the Economist Ranking and Financial Times ranking to understand where your target schools are. Don’t only look at the overall ranking but go and check specific statistics including Post-MBA salary, on-campus employers, etc.
If you have in mind a specific set of companies you would like to work for after the MBA, make sure that the school has a strong relationship with them. Otherwise getting an interview will be very difficult.
The MBA is not going to be Party-Party-Party
Although the MBA is a university course, the environment and the atmosphere are very different compared to what you experience in your undergraduate years.
Most MBA students are in their early to late 30s and many of them have families and kids. You may be invited to quiet dinners and afternoon drinks but do not expect crazy house parties and club nights.
