MBA market faces winds of change
This post was written by our friends at ft.com
Fragmentation lies ahead as part-time and one-year degrees threaten supremacy of the US MBA
October 06, 2014
We have seen this phenomena a lot. What are the factors people are considering when doing a part-time or one-year MBA?
- Daddy Family, obligations, opportunity cost, time. I'm not sure how hard it is to switch industries and job function with a part-time or one-year MBA.
- Eric Allen expert Yes, this is a huge challenge, David. As I can see with your picture (awesome pic, btw), you have little ones to consider in addition to your career goals. On the one hand, the part-time MBA provides significant flexibility, but can make it more challenging to make a career change because you don't have the career resources/focus that you would have in a 2-yr program (internship and natural pathway for changing careers). One-year MBA is generally for folks who want the MBA immersion experience and plan to either go back to the same company or (at the very least) stay in the same industry/function. 2-yr gives you the most career flexibility, but a significant opportunity cost / investment. If you completely fill out your profile, maybe I (and others) can make some suggestions on what to think about. I hope that helps.
- Daddy Thanks, Eric. I will fill out my profile.
- Jay Mixter expert It's interesting that, as more MBA programs emphasize entrepreneurship, people who aspire to be entrepreneurs are becoming more concerned about the opportunity cost associated with delaying both their entrepreneurial pursuits and the associated real-world education. In other words, do they really need to go back to school to learn to be an entrepreneur. I have had a lot of discussions with people around the tech scene in Boston who feel it's better for them to get their feet wet in someone else's startup or use some of the time and money associated with an MBA to start something on their own. If they are confident that they already have some marketable skills or an idea they can develop into a business, this hands-on "education" becomes the vehicle for their advancement. Although pursuing this path means they miss out on the added skills, broader perspective and valuable network associated with a good MBA program, it's a valid option for some. When I ask these people who MBA programs are really best suited for, they say it's the right path for aspiring big company managers, consultants, investment bankers, VCs and accountants. Incidentally, two weeks ago, I met a young man who was just starting business school after spending two years at a startup; in his case, he felt that the startup experience prepared him for the MBA program and that the MBA would accelerate his ability to really advance his career. Perhaps we'l see him on the other side as a VC or investment banker! Food for thought...