Why MBA?

Quitting your job for an MBA is not an easy thing. You must have a solid reason for that.

Most of the applicants fall in one of the following categories:

1. You are doing great in your profession and need an MBA to climb the ladder.
2. You are in a dead end job and the only option you think you have to change tracks is an MBA.
3. You are an entrepreneur and have had considerable success so far but on a small scale. You want to do an MBA, get that network and credibility and then pursue bigger businesses.
4. You are sailing just fine and your employer wants to spend some moolah on you and that sought after MBA will now literally be yours for free. So why not?

Whatever your reason is, be absolutely clear about that. This will help not only with your mental preparation but also when it comes to writing those application essays. AdComs can smell bullshit from a million miles. Believe me when I say that. If your application is nothing but fluff then dont expect it to come across as anything else.

One part of your application will be about your long term/ post MBA goals. This essay is really important so think hard before you start writing. Of course no one expects you to know exactly what kind of job you will be doing after MBA, but this essay is about checking your professional outlook. How realistic are you with your expectations? Does that fit well with your background? Are you going to be successful?

Most business schools look for candidates who are already reasonably successful, have a great outlook and are bound to go places in future. And all they want is the right candidate to wear their brand tag when he/ she is featured in Fortune. Of course you learn a lot at business schools but most of the theories and models wont stand ground after you graduate and are facing a million dollar investment decision (unless you are working in Finance or Consulting, doing those spreadsheets and fancy powerpoints). Face it, the real world doesnt work like that. But yes, all the structures and tools you learn will improve your thought process, your risk appetite, your business skills etc. Of course you can try discussing DCF with a blonde in a bar and hope to get laid. Good luck with that.

The key takeaways from an MBA (strictly my opinion) is the personality impact it has on you. You go in as a chump, who has the potential but limited experience, spend your MBA year with a number of intelligent, passionate, driven people from across the world/ industries, you leverage the school brand to build up your own credibility and finally you become a member of an elite global network. After MBA, chances are you will know someone in almost every imaginable industry, you will have the network to open a lot of doors for you, and finally you will come out knowing a lot more about this world and different business scenarios than you ever could. The way you carry yourself, whether socially or in business, will change and you will be better prepared to pursue whatever dream you wanted to before starting your MBA.

If you fall in Category 1 then its fair play. Quite a few firms expect senior managers to be MBA grads and if they are not ready to pay for one then its better to get out of the job and do one yourself. There is no point in spending a few more years hoping for things to change. Because, to put it bluntly, unless you directly are responsible for increasing the share value of your company, you wont go beyond that glass ceiling. You dont want to be too late for an MBA. Have a plan and stick to it. Quit when you are the top of the game.

If you are from Category 2, being realistic will make all the difference in your life. Are you sure you will be able to change tracks with MBA? There are tons of MBA grads pouring in the market every year. Its competitive and when a recruiter has an option, he/ she will definitely go for the candidate who has some sort of fit. Without doubt, most career changers target bottom heavy industries/ firms. Which works out when its all sunshine and blue sky. But on a gloomy day, that shit wont fly. So think carefully about your chances. Dig your past and see if you can connect with any particular industry post MBA.

If you are from Category 3, then well done mate. The network/ credibility offered by an MBA will definitely help your ventures. I have seen others do it and am sure you can do it too. But there is a downside for you too. Can you afford to be out of market for a year/ two years? Will the changing landscape still allow you to be competitive? What about your existing ventures? Are they mature enough to operate in your absence?

If you are from Category 4, then you can buy me a drink anytime you want.

One thing which helps me in my decision making is considering worst case scenario. Whatever you are faced with, just think of the worst case scenario and ask yourself if you can live with that? If yes, then go ahead and kick some ass.

Good luck !