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Is an MBA Worth It? 1-Year Post-MBA Reflection
Posted by
Steven Ma
on
October 23, 2016
In early 2012, when I was working as a biomedical researcher at the National Institutes of Health, I decided that I wanted to get an MBA and
make the transition into the business side of health care. That was almost 5
years ago. Now as I pass my 1-year mark after getting my MBA from Duke, I
decided that it is a good time to do some reflecting and see what the MBA has
done for me so far.
Is Getting an MBA Worth it?
If you have been following blog, you already know that I have been very thankful for the 2 years I spent getting the Duke Fuqua MBA. In fact, I wrote about it here while I was still a 2nd year student at Fuqua. Here are some additional thoughts on the value of the MBA.
Was that MBA Finance/Operations Course a waste of time?
When I was sitting in my first year finance class – I often
thought to myself – when the heck am I going to use all these financial models?
(I’m sure the finance folks also felt the same about marketing courses) Now,
after a year after graduating, I realize that while I will probably never use all
of my non-marketing skills gained from the MBA – quite frankly I have forgotten
all but the most fundamental – they have been absolutely critical in my ability
to lead and execute cross-functionally.
I can guarantee that you will be interacting with people in
finance, operations, analytics, and human resources in your 1st year
after the MBA, regardless of the industry you go into. This is why it is
critical to know what each function does at a basic level and be able to speak their language proficiently. You want to
go into market planning, budget, inventory management, and talent acquisition
meetings prepared to contribute and lead.
If you ever wonder why the first year MBA curriculum covers the same
courses in virtually all MBA programs, that’s why – they exist to prepare you
to work cross-functionally – something that is essential in building a
successful career in business.
Value of MBA Alumni Networks are probably over-emphasized
A year after the MBA, my view on the value of alumni
networks is split. On one hand, it creates an immediate connection with someone
you don’t know; on the other, having a vast network of alumni doesn’t really
offer any tangible benefit.
At the end of the day, it’s your character, business acumen,
and ambitions that drive people to you – not the school you went to. While
having a robust alumni network is great, I think most street-smart folks
recognize that it is an artificial construct. In other words, business has no
barriers. For example, when recruiting or looking for a partner, I don’t care
which school you went to or what we have in common, I simply want the best.
The Duke Alumni network is both the first and last place
I’ll look for people. It’s the first place I’ll look for an unfamiliar industry
where I don’t have a lot of contacts – it’s also the last place I’ll look for
an industry that I am well established in. My advice to folks – treat alumni
networks as a secondary metric when choosing between programs. It probably
won’t matter.
It’s the soft skills that count after the MBA
Guys and gals, if there’s one thing you take away from this
blog post, is that soft skills are the ones that make a difference in career progression. My recommendation is to only take a maximum of 2 courses on each
functional area during the MBA.
For example, don’t take more than 2 finance,
accounting, or supply chain courses, etc. What you choose is your business, but
what I’m saying is that this allows you to get a breadth of experiences during
the MBA, and I’m trying to convince you to spend more time on the softer
skills.
Skills like communication, human talent management, leadership – while don’t sound great compared to [insert totally complicated
finance course] – matter more IF you want to go from individual contributor to
leader.
Think of them as long term investments. You won’t need them right away after the MBA, but they are critical to long term success. It’s like saving for retirement, you don’t want to turn 55 and start contributing to your 401(k) – you want to start building up early – just like with the soft skills.
Think of them as long term investments. You won’t need them right away after the MBA, but they are critical to long term success. It’s like saving for retirement, you don’t want to turn 55 and start contributing to your 401(k) – you want to start building up early – just like with the soft skills.
I think most MBAs will establish their reputation for being
smart and analytical relatively soon after graduation – this is to be expected.
However, what I’ve found that really makes a difference in my work is my
ability to communicate effectively, lead my matrix team, and manage my relationship with leaders and peers.
Was the MBA worth it?
Absolutely. One, I realized how much I loved being in
business. Two, the Duke MBA allowed me to make the most efficient transition
from a non-traditional background into marketing. Three, the learnings have
been amazing.
Let me talk about my last point some more. As I mentioned
before, don’t think of the MBA as a degree, but more like a blueprint for
career development in business. I genuinely don’t think that I could be
learning at the pace that I am today without the MBA. The MBA showed me what
good looked like, and helped me narrow in on exactly what I wanted with my
career.
Return back next year for my Year 2 post-MBA reflection, or subscribe to get it delivered into your inbox.
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