I have read a lot over the years about why one should or should not spend the time and money to get an MBA. The degree is a popular topic of discussion on both sides of the argument and magazines seem to make a lot of money doing rankings and keeping the discussion alive. Here’s my take on it.
If you are expecting to be a business leader or a functional expert, good at finance or marketing or another specialty area, the MBA is going to add a lot of value. Some commentators have said that students just pay for the piece of paper and that gives them entree to better jobs. Others say that you should just work – get on-the-job training and learn to be a leader from doing it! Well, I have the piece of paper, got it from Boston University a long time ago, and I have some on-the-job-training. The piece of paper is rolled up in a drawer somewhere but the classroom learning and experience are in my head – and the experience was greatly informed and enriched by the coursework during my MBA.
There is a wealth of formal learning available in good MBA programs that will give you a definite edge in the workplace. Some of it is very simple but a lot of individuals and organizations don’t know it, or forgot it somewhere along the line. Take queueing theory for instance – the science of how lines form – exciting stuff right? But the reality is too many people don’t know about it – I see that evidence in traffic jams every day. But seriously, I was studying queueing theory when I started a new job and observed how our customer lines were forming – we had lots of service stations and some would be backed up while others had no customers. Our customers were angry because they had to stand in one line while several other service reps were idle and should have been able to help them. A simple application of queueing theory made those lines virtually disappear, leveled work load among reps, and eliminated customer complaints (about lines anyway.)
If you want to know why banks use single line queueing but grocery stores continue to use random register lines, and your line always moves the slowest (price check!) – come get your MBA. I value the MBA for the knowledge, not the piece of paper, and I hope that’s why you are looking at MBA programs. The learning gained in an MBA program will give you an edge and will help advance any company you join.
Dave Frasier, Assistant Dean, University at Buffalo School of Management
0 Responses to “What is the real value of an MBA?”