We’ve spent plenty of time spruiking the benefits ofstudying a Master of Business Administration (MBA) and while there are plenty,that doesn’t mean it’s the right move for everyone. Depending on your ambition,you might be better off taking a different path, so we’ve pointed out a fewreasons you could skip the MBA.
There are other waysto upskill
In the past, formal courses such as post graduate or mastersdegrees were virtually the only way for professionals to upgrade theirskillsets in a way that would appeal to employers. The attitude has shifted inthe last few decades, with work experience and freelancing highly valued and avast array of online resources and short courses that allow employees toimprove and enhance their knowledge in particular areas.
MBAs are expensive
This has always been a barrier to pursuing a MBA. Earlierthis year, the average fee for a MBA degree topped $50,000 for the first timeever, jumping from $47,500 in 2017 to $51,160. This is a very significantfinancial investment, especially for someone who is already qualified at thebachelor level, and consideration must be made about whether it will be worththe money at the end of the course.
It’s a difficultbalancing act
If you’re fiscally comfortable enough to work part-timewhile you study a MBA, great. However, the reality is for many people, theyhave to work full-time simultaneously to offset the cost of the degree and thiscan mean plenty of early morning and late nights when you would normally be offthe clock. There’s also the strain on the family – especially for those withchildren – and your social life can take a hit too.
Reinvest the energyinto your next career goal
Many people take up a MBA in a bid to land a specificposition (normally in senior management) but don’t realise a piece of paperdoesn’t automatically qualify them for the gig. If you have your mind set on aparticular role, channel the time and energy (not to mention the money) youwere planning on committing to your MBA and use it to excel in your current joband prepare yourself for the next step in your career journey.