Are you feeling a little static in your current job? Do you want to transition into a different department and job responsibilities or are looking into management? Have you always considered going into post-secondary teaching for marketing, finance, entrepreneurship, or economics? Do you want a pay increase but are maxed out at your current education level? If so for any of these questions, it might be a good idea to look into business school.
However, the decision to go back to school should not be taken lightly. There are many things to consider in your decision-making. Here are a few things that come to mind:
Can You Afford It? There’s no question that you can earn more money with an MBA, but prospective graduate students must take into account that they will need to spend more money as well to get the degree. The average starting salary for someone with their MBA is close to $100,000. However, to put things into perspective, it can cost that much money to get your two year degree. Look into financial aid programs as well as possible grant opportunities to see if there is a way to lower your bill.
Are You Going back to School for the Right Reasons? There are many different reasons why people decide to go back to school. However, many do go to graduate school for the wrong reasons. For example, if you’re looking at business school as a way to take two years off from the real world or you want to avoid paying loans, this is a bad idea. Examine the reasons why you want to go back to school. If you’ve reached the top of the ladder with your current education level and experience, it makes sense to go back to school to reach the next level
Are You Prepared for the Application Process? The first thing you need to do is take your GMAT, the gatekeeper to the best business schools. Haven’t prepared for a test in a while? That’s not a problem if you know where to find the best GMAT prep courses. A good place to start is GMAT Reviews as they often list and provide comprehensive reviews of different GMAT prep courses. In addition to this, you’ll need to start looking into people who can provide you with a recommendation as well as gathering all of those transcripts. To make things easy on yourself, you’ll want to get things going as soon as possible to meet deadlines.
Are you business school material? The answer to that question depends on a wide variety of factors, including those listed above. In truth, the decision to go back to school is a very personal one. If you feel that you would benefit from a post-undergraduate education and you can make the time and effort to get the most out of the experience, business school is still a viable career move.
The economy is improving and quality jobs are out there for those who have the skills and education to fit into the position immediately. Business school might just give you the leg-up to be successful.
Chris Smothers wears many hats. He is a freelance writer, personal chef, and most importantly a father of two. He writes frequently on issues related to college.