The Value of an MBA [Ep. 28]Aug 11, 2020
A Master of Business Administration (MBA) degree is a popular route for advancing one's career, learning new skills, growing a network, and overall expanding opportunities in the world of business. Yet, there are significant costs associated with pursuing this level of higher education. So, is it worth it? How do you measure the value of and MBA and determine whether it's right for you?
To shed light on this important topic, we invited Tim Munyon, Associate Professor of Management at the Haslam College of Business (University of Tennessee) and Managing Partner at Red Castle Human Capital, to share his perspective from both the faculty and employer standpoint. You can listen to our conversation HERE:
Specifically, we discuss:
- Advantages of the traditional MBA as compared to niche Masters degrees or part-time / online MBA programs
- Why an MBA is useful for entrepreneurs
- Does the best value come from Top 20 business schools, or is "fit" more important for maximizing the degree?
- The costs one needs to consider beyond tuition
- The ROI of an MBA -- in terms of increased salary as well as less tangible but equally-important benefits
- The value of the network you develop during business school — and is it actually the most important value component of an MBA?
- Whether a 2-year program is preferable to a 1-year program from an ROI perspective
- What employers look for in MBAs, and why it's still a sought-after degree from a hiring standpoint
- Who an MBA is right for, and who it might not be ideal for
- And more!
If you're wrestling with the decision of whether or not to make the time and financial investment in pursuing an MBA, the insight Tim shares in this interview will help you immensely. And if you're already set on going back to business school, I think you'll come away from this episode even more excited about what you're in store for and the value you'll get from your MBA. Enjoy!
A DOSE OF MOTIVATION
"Learning is the only thing the mind never exhausts, never fears, and never regrets.” — Leonardo da Vinci
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