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Why Get an MBA: 6 Questions to Ask Before You Start

Master of Business Administration Master's Degree Business Programs Careers

In the fast-paced world of business, it’s no longer good enough to just keep up–you have to stay ahead. And for many professionals that means furthering their education.

Going back to college is a major life decision that requires a little self-reflection and a lot of research.

Whether you’re just starting to think about your MBA or about to enroll in a program, you’ll feel better about your decision if you get some answers to questions like: “Should I get my MBA?” “Is an MBA the best thing for me and my career?” Is an MBA really worth it?”

According to labor market analytics firm Lightcast, there were 105,395 completions for Business Administration and Management, General Program–that’s approximately 12% of all master’s degree completions, making it the top choice for master’s degree earners.

What matters most when choosing a master’s program? Compare features, benefits and cost to find the right school for you.

The Truth About MBAs: Is an MBA Worth It?

When it comes to whether an MBA is always worth it, the short answer is: No.

Wait, what? No?!

You read that right. “No, an MBA isn’t always worth it.”

Of course, that’s not to say that graduate school isn’t for you. It could be. On the other hand, it might not be right for you.

The truth is that earning an MBA is right from some people–but not for everyone.

Going back to school for your MBA is a big investment of time, money and energy. So even though earning your MBA gives you a claim on a well-respected professional credential and the promise of higher earnings, those two reasons alone may not be enough.

So, if you’re thinking about getting a Master of Business Administration through an online MBA program, there are a few things you should know.

How Do MBAs Feel About Their Degree?

Nobody likes to regret a big decision. Which is why sometimes it can help to hear what other people think about the path you’re considering, and they’ve already taken.

Fortunately, you don’t have to look far to find out. The Graduate Management Admission Council (GMAC) took a survey of MBA alumni that you can use to learn about the pluses and minuses of earning an MBA.

Here are just a few of the most important highlights of The Value of Graduate Management Education: From the Candidate's Perspective survey from GMAC:

6 Questions to Answer Before You Get Your MBA

Answer these six questions to make sure you’ve got a real reason to earn your MBA:

1. Is now the best time to pursue your MBA?
Think about your work schedule, family obligations and other commitments. Better to wait a semester or two or three when you have the time to focus on your studies.

2. Do you really want an MBA–or do you just like the idea of it?
Time to get very honest with yourself. The MBA credential is impressive but to stay the course you’re going to need a “why” that really motivates you.

3. Have you chosen an accredited university or college?
Of course tuition costs are important, but you sure don’t want to “cheap out” on the quality of your education. With an MBA, you’re investing in your future, so it’s a good idea to enroll in a top-quality university that will prepare you accordingly.

4. How will you handle tuition costs?
Paying for college is a whole lot easier when you have a plan. So make sure you know exactly how much your MBA will cost, then make a realistic budget for it.

5. Do you know how your MBA will translate to the real world?
Are you looking to get promoted? Make more money? Change careers? It’s important to make sure that earning an MBA aligns with reality and with your professional goals.

6. Have you met all the MBA admission requirements?
Once you narrow down your choices for online MBA degree programs, it’s time to dig in and see if you qualify. Most universities and colleges post a list of MBA enrollment requirements on their website. Of course, it never hurts to talk with an admissions advisor, too.