Get In, Get Connected, Get Hired

Lessons from an MBA Insider

Brian Precious

• Publisher: River Grove Books
• Year: 2016
• eBook ISBN: 9781632990846
• Topic: Business
• Subtopic: Business Education
• Index: Business

Make the Most of Your MBA Plan Earning an MBA can be a risky proposition. Some students effectively leverage their education to transform their careers, whereas others waste time and money pursuing a degree that doesn’t adequately align with their career aspirations. This book is designed to help prospective and current MBA students (and even those who have already graduated and are trying to find their way) get the most from their degree, find the right business school in accordance with their career goals, and manage a successful job search. In Get In, Get Connected, Get Hired, Brian Precious draws on his expertise as a program and admissions director, as well as his own experience as an MBA graduate, to highlight ten essential lessons he’s seen lead to success among prospective MBA students, current students, and alumni at some of the nation’s top schools. An essential read for those seeking a degree or a career in business, Get In, Get Connected, Get Hired will give you the tools necessary to make your MBA work for you.
 

LESSON 1

UNDERSTAND WHAT THE MBA IS (AND WHAT IT ISN’T)

It was my third meeting with “Joe” that semester. In our first conversation, I had broached the topic of his declining grades and suggested he hit the books a little harder. The second time, I had to tell him he was on academic probation and was heading down a path that could lead to his dismissal from the program. Today was going to be the toughest conversation of all. He was now failing three of his five classes, and several professors had noted his lack of effort coupled with a poor attitude in class. Just a few days ago, his classmates had requested that he be removed from his team because of his refusal to attend group meetings.

Although he certainly wasn’t going to win any awards for maturity or emotional intelligence, Joe was a bright guy and had done very well in his undergraduate computer science program. His letters of recommendation discussed his passion for programming and praised his ability to learn new computer languages quickly and effectively. I wondered why someone who had learned to code in Java in less than a month would struggle so much in human resources, project management, and strategy classes.

I decided to skip my usual “You are in serious risk of failing out” lecture and instead asked him a series of questions. “Why do you think you are struggling so much lately?” (The classes are boring.) “Why don’t you like your classes?” (They all focus on how to run a business or be a better manager. I don’t want to be a manager.) “Do you think you are carrying your weight on your team projects?” (I don’t like working in teams. I’m smarter than all of my teammates, and our group meetings just waste my time.) This went on for a while before I finally asked the right question: “Given your career goals, why did you decide to pursue an MBA?” He fell silent for a minute, considering my question, and then said, “My dad. He told me I should get my MBA so companies would pay me more.” Bingo.

Unfortunately, this story does not have a happy ending. Joe dropped out of the program about six months before graduation and after shelling out close to $30,000 in tuition. He was out of work for about a year before taking an entry-level job he would have been qualified for with just his bachelor’s degree. Not only did he lose time and money pursuing a degree that didn’t align with his career goals, but by alienating his professors and classmates, he failed to enhance his professional network, which could have led to more-exciting career opportunities.

Joe didn’t do his homework before starting his degree—a common mistake I’ve seen among prospective MBA students. You can avoid an ending like Joe’s by taking some time to learn what the MBA degree really is (and what it’s not) and to thoughtfully consider some alternatives to getting an MBA.

What Is an MBA?

MBA programs teach the business skills and provide the professional-development experiences necessary to help students become better managers and leaders. MBA students take courses in a wide variety of business disciplines, including accounting, marketing, operations, finance, statistics, human resources, and strategy. This coursework will help students learn some fundamental principles required to lead at a high-performing organization, but the real value of the MBA extends beyond the classroom. Integrated with the coursework are opportunities to engage in experiential, or applied, learning; to enhance professional development; and to develop a larger and more global professional network. A broad and versatile degree, the MBA is beneficial for people working in multiple sectors, including traditional for-profit businesses, nonprofit organizations, government entities, academic institutions, and new enterprises.

An MBA can help those without professional work experience land a meaningful first job. It can enable those looking to transition into a new industry or role to develop the skills, experiences, and contacts necessary for success. An MBA can also provide entrepreneurs with the tools they need to transform a promising concept into a successful entity. In some industries, an MBA will be either necessary or extremely helpful to those seeking senior-level positions.

Is an MBA Right for Me?

Each year I conduct exit interviews with graduating MBA students. One of the questions I like to ask is how the degree has benefited them personally. Following are some of my favorite answers:

• “I have a much better understanding of business fundamentals—what works and what doesn’t and how to get there. I am much more confident in analyzing and solving problems.”
• “I loved the hands-on learning opportunities. They helped keep my real-world skills fresh and earned me some great connections.”
• “I used to be really nervous about managing other people. Now I feel like a confident leader who can manage teams of all sizes.”
• “My knowledge of and appreciation for other cultures and styles of business will definitely serve me well at a multinational company.”
• “I now have friends all over the world—I feel like I can find a job or a reference almost anywhere I go.”
• “I’ve learned a wide range of communication skills and styles. I can confidently pitch a customer in an elevator or present to a CEO in a boardroom.”

Clearly, these students maximized their MBA experience, starting with a thorough and thoughtful assessment of what the degree might bring to their careers. An MBA is not for everyone. It’s difficult, time-consuming, and, in some cases, very expensive. On the other hand, for the right person, an MBA can be truly transformative. What’s more, it can be a smart move at any stage in a career for people with or without a business background. An MBA might be right for you if—

• You desire a management or leadership role at work.
• You have a strong technical or STEM (science, technology, engineering, and mathematics) skill set and seek to transition from an individual contributor to a higher-level role within your current company.
• You want to start your own company.
• You want to change careers but lack the knowledge, connections, and experiences required for success in your new field.
• You want to advance beyond your current role but lack the skills required for promotion.
• You understand the importance of networking and value a global professional network.
• You are passionate about business, management, or leadership.
• You don’t feel your undergraduate degree prepared you for the type of career you are seeking.
• You would like to work and live abroad at some point in your career.

What an MBA Isn’t—Some Common Myths

If your reason for considering an MBA includes any of these common myths, it’s important to separate fact from fiction before going any further. Pursuing an MBA as a result of these common—yet completely false—assumptions is a recipe for disaster.

“AN MBA IS A GUARANTEED TICKET TO A SIX-FIGURE JOB.”

Although it’s true that MBA graduates typically earn more than their non-MBA counterparts,¹ earning an MBA does not guarantee you a job, much less a high-paying job. The MBA degree provides a set of skills and opportunities that students must leverage to set their career on their preferred trajectory. Those seeking an MBA solely for financial reasons are often disappointed. Often, organizations willing to pay big bucks for top talent are looking for passion for the company, the industry, and the role.

“ALL I HAVE TO DO IS GET IN TO BUSINESS SCHOOL, AND THE PROGRAM WILL FIND ME A JOB.”

Some students believe that once they get in to an MBA program, it’s up to the placement office to find a job for them. While most placement offices have helpful staff dedicated to helping students maximize their career search, it is ultimately up to the students to create and execute their job-search strategy. Knowing the outcomes you desire before starting an MBA program can help you customize your experience—which classes you take, which activities you participate in, and which alumni you network with—thus increasing the chances of meeting or exceeding your postgraduation career expectations. We will cover this concept in more detail in Lesson 9.

“MY PARENT/PARTNER/FRIEND/BOSS/COLLEAGUE/HAIRDRESSER/ DOG WALKER SAID GETTING AN MBA HELPED THEM IN THEIR CAREER, SO EARNING AN MBA WILL HELP MY CAREER, TOO.”

It’s great to get advice from trusted friends and family, but it’s also important that you personally see the degree adding value to your career and life. Earning an MBA takes time, effort, and money. For those who see the benefits, the sacrifices are well worth it. For those just going through the motions, however, working toward the degree can be an arduous process with mixed results. This is where Joe struggled. Joe’s main interest was in computer programming, not leading a team or managing an organization. Although the degree may have helped Joe’s dad advance his career, it was not the right choice for Joe.

“AN MBA IS ONLY FOR THOSE INTERESTED IN BUSINESS.”

From running General Motors to starting a food pantry in your neighborhood, the critical success factors are more similar than you might think. You will need to understand your customers and how they wish to consume your products or services. You will need to motivate and manage your employees, you will need to comprehend how money flows through the organization and how new projects are funded, and you will need to know how to optimize your organization’s day-to-day operations. An MBA can help in all of these areas.

Alternatives to the MBA

Before deciding if an MBA is right for you, you should explore some alternatives to earning this degree. Here are some ways to enhance your career without earning an MBA.

MORE WORK EXPERIENCE

Some feel the time spent earning an MBA can be better used by investing more into their current career. They believe taking on additional assignments at work will lead to faster promotions, a higher salary, and greater career-development opportunities. As long as the skills being gained are transferable to other industries, companies, and types of jobs, this strategy can be effective. Of course, staying at the same company also might limit your ability to enhance and broaden your professional network—one of the key benefits of the MBA.

CORPORATE LEADERSHIP-TRAINING PROGRAMS

Some organizations offer their most promising employees the opportunity to take leadership classes or to enroll in a management- or rotational-training program. These are great opportunities for those looking to stay at their current organization indefinitely, but such training doesn’t offer the universal transferability and cross-industry networking opportunities of the MBA.

SPECIALTY MASTER’S PROGRAMS

Many business schools now offer specialty master’s programs in fields that include accounting, human resources, business analytics, finance, and marketing. Compared to an MBA, these programs tend to be shorter and less expensive. They often have less stringent admissions requirements as well. Specialty master’s programs can be good options for those who know they want to specialize in a certain field and aren’t as interested in gaining proficiency in all aspects of business.

MASSIVELY OPEN ONLINE COURSES (MOOCS)

Through online education providers like Coursera and Udacity, students can now take free online courses in business and other disciplines. Some major universities are partnering with these online providers to offer a complete MBA degree at little or no cost. This is a great option for enhancing your technical skill set, but your experiential learning (learning by doing), networking, and leadership-development opportunities may not be as robust.

BOOT CAMPS

A newer option, boot camps offer short-term intensive coursework in traditional business disciplines, such as accounting, finance, or marketing. Courses typically run from ten to twelve weeks, and the cost is generally lower than that of an MBA. Boot camps are a great option for learning a specific skill. However, a single boot camp does not provide interdisciplinary learning opportunities and, compared with an MBA, will not be as effective in training you to become a better manager and leader.

Should I Work for a Few Years Before Earning My MBA?

One of the most common questions I receive from prospective MBA applicants is whether they should go straight from their undergraduate studies into an MBA program or work for a few years before returning to earn their degree. As with many questions in the MBA world, the answer to this one is “It depends.”

Working for a few years before returning to school can be advantageous, especially if you plan to leverage your MBA to change careers. The combination of academic and experiential learning inherent to an MBA program can facilitate a career transition into a related or completely disparate field. Other advantages of waiting include the ability to bring real-world examples to classroom discussions and group projects, increased credibility with recruiters and employers, and greater flexibility in program choice, as some programs accept only those with work experience.

Entering an MBA program immediately upon graduation has some advantages as well. First off, being in “academic mode” eases the transition to graduate school (versus studying for the GMAT and taking a rigorous course load after being out of school for five or more years). Also, an MBA can positively differentiate you from your peers. Imagi...

Table of contents

• Cover Page
• Title
• Copyright
• Contents
• FOREWORD
• INTRODUCTION
• PART 1 Get In
• PART 2 Get Connected
• PART 3 Get Hired
• SOME FINAL THOUGHTS
• ACKNOWLEDGMENTS
• APPENDIX GMAT Score Analysis