Mba_Argument

My Decision to Obtain an MBA Kelly Nicoll MGT 521 Management March 11, 2012 Professor David Walker The decision to go back to school to obtain an MBA was an easy one to make. This expands employment opportunities and will provide the MBA holder with more expansive career choices. There is greater income potential with an advanced degree. Possessing an MBA gives one a feeling of control in their career decisions. Studies show people with control over their destiny are happier and more well-adjusted as compared to those do not have this control. Businesses recruit graduates and are willing to pay the salary that is in demand. An MBA graduate has the leverage to discuss salary options. Networking opportunities are available as a result of the friendships that are forged (Chynn, 2009). One needs to consider the possible disadvantages of obtaining an MBA. There is the cost, hard work, and sacrifice as well as the study and time commitment. There is the return on investment (ROI) to weigh out as getting an MBA can be expensive. One needs to analyze the projected earnings from a Bachelor’s Degree over the course of 10 years versus the income potential with an MBA. Getting an MBA is an investment that one can count on over the course of a lifetime. In my case, I have the tuition reimbursement so I will have minimal out-of-pocket expenses. The time and commitment is the greater factor to consider because I am a mother of a young child. Part of the decision process includes whether to go full-time or part-time. It also includes the choice of a traditional school environment versus online. Some will argue that an online setting loses the value of networking as it is more of a challenge to meet people (Chynn, 2009). Additionally, a school such as Harvard Business School may be more highly regarded but many people are not afforded the time or luxury to attend. Although a traditional setting as a full-time student may be ideal, taking part-time online courses may be the best course of action for a full-time working parent. Online programs increase opportunities because they allow a person to pursue an advanced degree without disrupting his or her career. Plus, many MBA programs encourage working professionals as the real life experiences are relevant to the Master’s program. There are some Graduate Schools, such as Georgia Tech, which do require a certain number of years for a student to have real-world work experience before applying to the MBA program (Sadler, 2011). An MBA teaches business and analytical skills. Students learn leadership skills and they learn to work in teams. The MBA helps one learn to communicate effectively and it prepares one for scenarios that will arise in his or her career. The MBA holder will be able to communicate with all levels of management. Additionally, it will help one acquire technical skills as well as time management and project management skills. The MBA will teach problem-solving and analytical skills as well as quantitative and research skills (ucan.ca, para 1). My intention is also to complete the concentration in Accounting. This will give me an understanding of accounting and financial management principles. Data from the Bureau of Labor and Statistics indicates that MBA Graduates have an 18% higher earning potential than those with a Bachelor’s Degree. The unemployment rate of MBA holders is 3.9% versus 5.2% for those without an MBA (Sadler, 2011). In addition, data from the U.S. Census Bureau shows individuals who hold a Master’s Degree can expect to earn an average of 2.5 million over their career span and those with a Bachelor’s Degree will earn about 400,000.00 less (Lott, 2010). Reviewing the pros versus the cons of obtaining an MBA has helped me tremendously. The value of the degree far outweighs the disadvantages of not going back to Graduate School. One con is the cost and I am fortunate that I have tuition reimbursement so my ROI is an easy one to consider. That may change if my employer decides to discontinue the program. If that happens, I will need to reevaluate. Concerning the time factor, it does require time management and discipline. This is setting a good example for my eight year old son. Fortunately he understands and does not disrupt when I am studying. I take it as an opportunity to ask him to pick up a book and read. My motivation for obtaining the MBA is two-fold. I want greater career opportunities as well as the chance to earn a higher salary. Living on a single income is tight and at the present time I live paycheck to paycheck. I want to be more financially secure and be able to do things I cannot afford in my current environment. The greatest determining factor by far is having a sense of security if I were to lose my current job. I have witnessed layoffs at my place of employment. I have seen employees climb the ladder and increase their salaries. There have been massive layoffs only to be replaced with new hires at a lower starting salary. I want to be prepared for this and have an MA to open doors to new opportunities. Also with unemployment at 11% in RI, finding a job is extremely difficult. Acquiring an MBA will add value to my resume. In closing, I believe obtaining an MBA can only better my career opportunities, teach me real life career skills, increase my earning potential, better my family life and contribute to a more satisfying career and lifestyle. References Sadler, D. (2011, February). ADDED + VALUE. Georgia Trend, 26(6), 90-96. Lott, A. (2010, October). Graduate to a Bigger Paycheck. Black Enterprise, 41(3), 82-84. Chynn, E.W., & Hilton, L. (2009, Sept.). MBA: Is This the Right Decision for Me' Ophthalmology Times, 1-5. Retrieved from http://www.ophthalmologytimes.com http://www.mbadegreecentral.com/advantages-of-the-mba-degree.html http://www.ucan.ca/all-news/masters-degrees/practical-skills-gained-from-an-mba-degree/