Is an MBA really worth it?

Yes! Let me count the ways…

The pursuit of an MBA at a top-ranked b-school like UNC demands a big investment in time, effort and money. And naturally, you want to know what you’ll get in return.

If I could gaze into my crystal ball and proclaim, “within X months of graduation, you’ll break even on your investment, and it’s gravy from there,” I would.

Perhaps, like many of our students, you could devise your own ROI equation and calculate a breakeven salary and how long it will take you to reach it.

But I don’t think the answer is that simple.

Why? I believe “ROI” isn’t tied to solely to money. While many students see significant raises, even while they are still in school, some don’t–and are still delighted with their ROI.

For example, Brad Walters, Weekend Class of 2001, earned a fine living as a surgeon, but he longed for new challenges and opportunities. He earned the degree and moved to work in a venture capital firm, making less money, but with a career that reenergized his life. How do you put a dollar value on his ROI?

The real value of an executive MBA program is whether it helps you reach your career and life goals. We’ve found three types of business people benefit most: climbers, shifters and launchers.

Climbing the corporate ladder

Climbers are headed up the corporate ladder and realize that “MBA” on their resume will help them reach that top rung.

They enter an MBA program to master quantitative skills and become fluent in the many numbers-oriented languages of business. But along the way, climbers realize that it’s what some call the “soft” skills–strategy, leadership, communications, teaming–that will set them apart in the upper echelons.

UNC’s MBA for Executives Programs are known for their strategy focus. Our curriculum is built on the key management skills climbers need: analyzing environments, building strategies, and shaping leaders.

The highest and fastest climbers volunteer for new assignments at work. They look for ways to apply their knowledge back on the job, adding immediate value to their company.

Shifting careers

Career change is top-of-mind with shifters. They want to shift functions within their company – perhaps moving from engineering into management. Or they want to change industries–maybe moving from manufacturing to marketing.

For shifters, career success is based on know how, and know “who.” The professional network they build in an MBA program is invaluable. They may find a new job in their area of interest. Or they can baseline their skills against classmates in the career they desire.

Shifters thrive in a collaborative, team-based environment. We mix up the teams–bean counters and poets, engineers and philosophers–so everyone learns from everyone else. So, if you’re that engineer, you can learn about employee communications from your teammate who works in HR. And you may help the HR manager run the numbers for your team project.

Many shifters choose UNC because they can customize their MBA to fit their career goal. Weekend and Evening MBA students choose at least 10 courses from more than 40 electives, including global immersions. Few, if any, top-ranked b-schools offer more choices.

Launching a new business

Finally, the founders–those who dream of starting their own business. Of course, there are wildly successful entrepreneurs who never took a single business course.

But for many launchers, the MBA experience gives them the business skills and knowledge needed to turn their dream into reality. And the network they build during the MBA program gives them a valuable source of future investors, partners, customers and suppliers.

The real ROI

In the end, though, the real ROI for an MBA is better thinking. You’ll learn to think through complex problems in a more disciplined way. And, just as important, you’ll learn to drive results based on your thinking. These are the skills that accelerate careers.

But, don’t take my word for it. The best way to estimate the value of an MBA is to talk with others like you.

So, watch the student and alumni videos in the EMBA Preview. Come to an information session. Visit a class. Talk with our students and faculty.

These real people will help you answer, “Is it worth it?”