People often go on and on about how great it is to go to MBA school and earn a Master’s Degree in Business Administration. Students from around the world apply to some of the most prestigious B-schools in the country in hopes of earning an MBA. For those who decide against going to business school and for those whose applications got rejected by MBA schools, there isn’t much to fret about. Here are some of the top reasons not to attend MBA school:
The recession
The current recession has sent numerous huge companies and brands tumbling down. Plummeting along with these huge names are the bank accounts of people all around the world. With the recent economic recession, jobs for MBA graduates have become rather iffy at best. For example, investment bankers have lost a lot of their business due to the effects of the recession. As a result, it is becoming increasingly difficult to find well-paying jobs as an MBA graduate. Besides, even if you could find a good job, it’s hard to find clients who will trust you with their money nowadays.(1)
Working around the clock
Another problem with going to MBA school is that you will be working towards a career and lifestyle that is constantly filled with stress. Sure, endless hours are spent by doctors who save lives and lawyers who deal with legal cases, but businessmen and bankers have to handle the stress of turning over multi-million dollar deals. A lot of the time, the careers that MBA graduates end up in are those that fill their lives with work and stress.(2)
The pressure to achieve more
One of the perks of getting an MBA degree is that you can work your way towards a relatively well-paying job. The problem is, you may never feel as though your accomplishments are enough. The competitive nature of many business schools out there leaves graduates in constant competition with their colleagues, co-workers, and other business grads. When you end up hearing all of the success stories of past classmates, it is easy to get caught up in the pressure and competition, making you feel inadequate or unappreciative of your own achievements.
Mounting expenses
MBA schools pose another problem: cost. MBA schools usually get away with charging an arm and a leg, because they promise that an MBA degree will help you to earn big. The problem is, you’ll probably start out with a huge debt, as you borrow money to get through B-school. After earning your degree, you’ll probably spend a number of years just working to pay-off your debts and loans. Next thing you know, you’re working to pay off a new car, a house and lot, or a new yacht. In the end, you forget about all of the great ideals that you had about what you would do as an MBA graduate. It all becomes an endless cycle of paying off expenses and debts.(3)
Next time you consider taking up an MBA degree, give it some good thought, because you may just end up a victim of one of these reasons not to go to MBA school.
(1) http://www.businessworld.in/index.php/B-School/In-Recession-US-MBA-Students.html
(2) http://gradschool.about.com/cs/new/a/studentstress.htm
(3) http://news-info.wustl.edu/news/page/normal/13263.html