As part of your MBA decision-making process, you'll need to decide at which stage of your career to study. Although you may not feel that timing is as important as other considerations you need to make here, this can impact on future benefits and career advancement. When is the right time for this kind of business degree?
Should you Take an MBA Straight After Graduation?
Some students plan to move straight on to MBA study after attaining their undergraduate degree. This can have some advantages. You may prefer to get all of your academic study out of the way before you launch your career; you may feel that this qualification will give you better immediate prospects. But, this route will not suit everyone.
Some ranked and accredited business schools require or prefer you to have some years of work experience before you start studying. If you are planning to apply without this, you may need to prove that you have have outstanding characteristics in other areas or that you are extremely strong academically. You may also have to compete in class with students who have worked for a number of years.
You should also consider how employers will view you once you graduate. Although you will have an MBA behind you, you may be competing against people with previous on-the-job experience. Some companies may view you as more of a risk; others may not consider this to be an issue.
Taking an MBA after Working for a Few Years
Many people will start their careers and get a few years under their belts before they apply for an MBA. Some feel that they will see more benefit if they have practical experience behind them. Waiting a while can also be beneficial as it can give you a chance to see if your chosen career suits you and you could then also tailor the program you choose to match future goals.
If you opt to take on full-time study, however, then you will have to put your career on hold for one or two years and apply for jobs again once you graduate. Losing your income and having to fund business school can be a bit of a shock to the system after a few years of earning. You can take up a part-time, distance or online course if you prefer not to give up your job, but this is likely to increase the time you will be studying and can be a lot of extra work.
Studying for an Executive MBA Later in Your Career
Some people will opt to study an EMBA, usually later in their career when they have significant job experience. These courses may not come with the same stringent academic entrance criteria and may allow you to use your practical experience during the entry process. In many cases, you will also be able to study part-time/continue working and may be able to better tailor the modules you take according to your experience, skill gaps and career aspirations.
Some people do feel, however, that waiting to take an EMBA can put them at a career disadvantage compared to those who come into an organization early with an existing qualification. In some cases, it may not suit you to go back to school after a number of years of working or to commit to course costs at a life-stage when your personal expenses (e.g. mortgage, living and family costs) may be higher.
There is no one right time to take on this kind of business degree. The timing of this decision is very much down to the individual and their circumstances. It may be worth looking at the advantages and disadvantages of applying for an MBA and the options open to you before coming to a final decision.
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Carol Finch - Carol Finch is the Topic Editor for Retirement Planning, Budgeting, E-Commerce & Technical/Business Writing on Suite101.
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