All this babbling about careers and postgrads and marketing... how appropriate that I try to delve into the not-so-coveted MBA? I think it is safe to say that a majority of the population used to look at a Master's degree in Business as hot stuff. It was something the cream of the crop of the business world held... and back in 1993 I could care less. In fact, 4 years of the college life would suit me just fine. Well, it turns out that what was once a prime piece of paper is no longer a prized rarity.
Well, wishful thinking 7-year-old me. Finishing my Undergrad in December of 2008, in the heat of an economic downturn (also coined the Great Financial Crisis thankyouverymuchAustralia), what better option than to travel (I did major in International Business after all - that's somewhat relevant)? So I did. I left San Diego with my best friend and I lived in Australia for a year; I traveled throughout South East Asia for 3 months, and I worked hospitality jobs that I hated - still hate - with a passion. I saw the world, was living the travelin' dream; it was a much better option than slaving away as an underdog. But reality always comes around sometime, and when it did I realised that, nearly 2 years later, I was no longer prime graduate hiring material. And thus, back to school as a starving student I went!
Now it's done. I'm still living in Australia 2 1/2 years later, battling student loans and Visa applications, trying to buy a car and wondering what most MBA-grads must at some point wonder,
"Was it worth it?" Well thank goodness we have Google to help us with that. Ironically, the first thing that pops up in that helpful list is exactly what I was going to type next:
Double-ironically, the first link is an 'AskMen' one... hmm
Well, the list is endless: how to get the perfect job, how to make your resume look like Jack Welch's (who, by the way, has an
online MBA program... if that man isn't a genius I don't know who is), internships for new grads, etc. etc. etc.
Antony Davies and Thomas W. Cline state 4 economic benefits related to
obtaining an MBA: higher starting salary, greater compensation growth, more stable long-term employment and a higher likelihood of participating in the workforce. Well that sounds good, and to be honest makes me feel a whole lot better, but let's not forget the downfalls: lost compensation, career setback, loans and interest, not to mention
you're not getting any younger.
What was concluded in this article is that on average, all things equal, an MBA investing US$162,000 into an MBA could expect increased earnings of $1.4 million (again, in 2001 dollars) over the course of their career. While everyone is different, and others have more or less money to burn, this is all taken
on average of course.
To go on,
Businessweek states that more companies will be hiring MBA grads in 2012. Although of course those with limited-to-none experience will be cheap labour, this completely works in my favor and hope it pans out.
Personally, the intangible outweighs the tangible (it least as of this moment). I graduated feeling more motivated, more excited, more capable, then I had when I finished my Undergrad. I'm living in a strong economy, I've proved I can accomplish something big. And the level of confidence I achieved... a trait that plays 99.9% of the job process, might be one of the better aspects. Unfortunately, going to school overseas (my choice) and paying tuition on a weak American dollar: my timing seems to be severely flawed.
Some people go back to school for the prestige, some for the knowledge, others just because they need a kick to jumpstart their lives again. I guess as long as whatever personal goal is achieved, then ROI is positive and thus beneficial. And lucky for me, the marketing field (within Australia) is expected to grow, with a strong demand for product marketing skills (field marketing, or face-to-face marketing, has been especially popular) and stable expected salaries:
Source: Michael Page Marketing Forecast
One of my favorite lecturers once said,
"In order to be successful, you have to dedicate yourself to lifelong learning," and I'm starting to see how relevant and true that really is. Or maybe, MBAs are just an evil marketing ploy by Universities across the world to reel in more students and hike up tuitions to outstanding levels. We all gotta pay our bills someway.