A few highlights of the questions answered in the podcast are listed below. Listen to the full podcast for additional insights.
The interview is between Martina Todorova of Unimy Prep and Susan Berishaj of Sia Admissions.
Q: What are the advantages and disadvantages of an MBA degree?
A: Taking steps to pursue an MBA is a great decision and one that is often not taken lightly – after all, applicants leave a full-time role and a steady income and lose 2 years of work experience that, for industries like tech, is a great drawback to a 2-year program. That said, there are some great advantages to an MBA that, for many, outweigh the disadvantages, namely, it’s an opportunity to grow on a personal and professional front. Business schools foster opportunities to develop a candidate’s unique style of leadership in a place that is safe to experiment with – this is a type of opportunity young professionals don’t get in the job market, as failed experiments can lead to job loss. Finally, not only does MBA offer many opportunities for a higher starting annual salary (on average, an MBA starting salary and signing bonus is close to $200K) and more exciting leadership work post-MBA, but there’s the greatest benefit that yields long-term ROI, and that is a strong network. With these advantages, an MBA makes sense for many young professionals.
Q: How long does it take to get an MBA? And how long will the preparation be?
A: In most cases, an MBA is 2 years in length, albeit there are 1-year MBAs in the United States and Europe. The preparation for an MBA depends on how you look at that process. As soon as a young professional knows she/he wants to pursue an MBA at some point in the near of far future, they should start the preparation process. I believe that the external world places enough limitations on us that we need not add to that; therefore, an applicant should strive to present their best candidacy in the following areas that the admission team evaluates: academic, GMAT/GRE, work experience, promotions, and community engagement. All of these need attention. As such, a serious MBA candidate should examine their portfolio of experiences and identify areas that could be strengthened with time, so they may present a strong application whenever they choose to apply.
When it comes to the application itself, ideally, an aspiring MBA candidate should start 9 months in advance of the target deadline, so they give themselves ample time to reflect and put together a robust application.
Q: Can someone do an MBA twice? Or is it not possible?
A: Provided the MBA is earned from a country that grants MBAs immediately post-college, or a candidate can show that their initial MBA has limitations in helping them reach their goals, then, yes, a second MBA is possible. To showcase the need for a second MBA, an applicant requires at least 5 years of work experience from the initial MBA to present a strong case for the needed second degree.
Listen to the full episode that addresses these and additional questions in more detail.