[Tampa, FL] Many career professionals look at an MBA as a vehicle to better status and more pay. But what the university programs won’t tell you is why you shouldn’t get an MBA. Times have greatly changed. Before World War II, people worked on the family farm or took up their parent’s trade. It wasn’t until after the second great war college became an aspiration of more parents for their children.
The Korean and Vietnam wars firmly established that a higher education was the way to the America dream and prosperity for future generations. This mindset was the standard through the 1970s and into the 1980s, when a flood of college graduates came into the job market.
From that point, earning a graduate degree became the new high standard. It separated those with undergraduate degrees from those which went the extra mile. A graduate degree meant access to the highest paying and most secure jobs.
However, the Internet has altered the business landscape so greatly, it is no longer necessary to earn an advanced business degree in order to be successful or start a business. Here are the reasons why:
1. The cost of earning an MBA will often excess self-financing or “bootstrapping” – the practice of funding a business without seeking outside capital, according to Business Week.
Moreover, earning an MBA will cause you to incur student loan debt ranging from $40,000 to $60,000 in the top five programs. Compare this to typical start-up costs of $15,000 or less. These days, needed resources can even be found free of charge on the Internet.
To compare MBAs available from Florida institutions, visit www.FindMBA.com.
2. Entering and completing an MBA program is not all as advertised. Often a program that is advertised as a two-year program will take between three and four years to complete. Why? Your day will begin at 7 a.m. or early and last well into the evening, as About.com points in their business majors’ section.
Think a lucrative sign-on bonus will offset this inconvenience? Think again. Bonuses are often predicated on a candidate staying on-board for at least 24 months or the employee will have to repay the bonus.
3. The classroom won’t prepare you for the real world. People learning a trade will have a leg-up to those tucked inside classroom theory. While MBA programs are concerned about suppositions and academia, they do not teach real world accounting, finance, programming or testing applications. People in the real business world must develop and retain a client base, MBA programs only speak to the principles of growing a business.
4. MBA does not equal success. Oprah Winfrey, Steve Jobs, Bill Gates, Mark Zuckerberg, Sir Richard Branson and Sergey Brin can all attest to the value of being an entrepreneur. Think you need a graduate degree to launch the next big fad? Well, you don’t need an MBA to be a business entrepreneur, according to BNet.com.
5. Lastly, inside the MBA program, you won’t be introduced to a network of professionals. While an MBA may allow you to get a foot in the door of a large business, it won’t do much to get into small business start ups.
By: Owen E. Richason IV
Images: Will Folsom