The return on my MBA investment
Was it worth it? Absolutely, and here’s why.
You’re at that critical point in your career: you need to do something. You have decided that an MBA is probably the right step – now you’re narrowing down your choices. I know, because I’ve been there.
But before you leap into any MBA program, realize that it’s not a cure-all for your job. It can’t instill passion for business; it can’t create talent; it isn’t a replacement for solid work experience.
After leaving college with an engineering degree, I worked in consulting, accounting, information services, programming, customer service…the list goes on. This wasn’t the most efficient means of climbing any corporate ladder. These choices I made were more to bring home a paycheck than they were to advance a career.
By 2002, I was working in the communications industry. Even though I had business experience, I had been labeled “engineer” with my company since it matched my current job title. My director suggested an MBA would give me added credibility if I wanted to move into management.
After doing some research, I decided to attend an information session about the Executive MBA options at UNC. It had been 17 years since I graduated from college – was more formal schooling the right ticket? I had attended company-sponsored education and a lot of technical training, but a degree? It’s a big investment in time and money. Would it be worth it?
I decided to take the plunge. I chose UNC’s OneMBA Program because I wanted to move into global management, and I’m glad I did. The MBA experience helped me build an internal framework for all that diverse experience I gathered over the years, and helped me leverage that experience for my own personal growth.
As a result, I changed careers and companies. Instead of being labeled “an engineer with business experience,” I am now a business development manager with an engineering background. Instead of doing technical designs, I am working on financial proformas for large global projects.
Here’s my takeaway: If the only reason you want an MBA is to earn more money or get a better job, you’ll miss the real value. Consider your MBA experience as a time to become more self-aware, a place to learn business methodology/skills, a forum to share work experiences with other students, a laboratory to practice international skills, and a new home to build friendships.
Now, I feel like I’m tapping into all my strengths. Whatever path you select, I hope that you will too.
I’ve been out of school a long time, too. I’m a marketing manager with a communications degree, so I’m concerned about the finance and accounting courses. Are there any prep courses I can take to make sure I’ll get off to a good start?
John,
UNC does a great job of making sure you’re prepared for classes. In addition to providing you with some review materials in finance, statistics and economics, they also hold review sessions on weekends leading up to the start of classes. I had a pretty strong quantitative background, so I didn’t take the courses, but many of my classmates did, and they have great things to day about them. I also should mention that some of my classmates enrolled in classes at their local community college or university prior to even applying for the program.
Charles Peckham, OneMBA Class of 2004
Also, UNC has a strong focus on teamwork and class discussion, so don’t underestimate how much the other students can impact your understanding of the material (during and outside of class), whether it is a quantitative course or a course on leadership, ethics or global issues. Depending on which program you select, many teams have their own team meetings during the week (evening program) or during the weekends (weekend and OneMBA programs). Good luck!
Feels like I am exactly in the same boat as you were before you started on your EMBA course in UNC. I have around 13 years of technical experience and close to 3 years of experience now management role. Right now at a point of having to choose a suitable B school. Looking at the cost of EMBA program in UNC is it worth it, in terms of ROI?
Jagadish,
Charles will respond to your question shortly. In the meantime, I want to introduce myself and let you know you may call me anytime with your questions or concerns about the Program. I am at 919-962-2499. Also, regarding ROI, while we don’t have any salary statistics for years after graduation, we do know from exit surveys that recent graduates received an average 17% salary increase while in the Program. That’s pretty impressive. And, 62% reported receiving promotions while in the Program. Perhaps most exciting to me is that 100% of graduates indicates their expectations were either “met or exceeded.”
Christine Ferrell
Hi Jagadish,
Thanks for your question. Where I work, one can focus in a technical specialty and manage a group which develops, deploys or supports that technology in a specific geographic area. Alternatively, one can broaden the scope to the business side of the house, where understanding the finances, the customer, the market, the product and the technology (and how to sell!) are required. Which do you prefer? Which direction is your career going? There are non-MBA’s who are great technical leaders. If I had stayed in a technical capacity, I know that having an MBA would have given me a greater understanding of the total business picture, but it takes a company which supports, recognizes and leverages that comprehension and achievement to make the ROI happen for a technical role. On the business side of the house, there is greater opportunity to demonstrate the skills you acquire while in the program and one can see the direct impact of those skills on the outcome. For me, that translates into a higher long-term yield. I hope this helps.
- Charles