There are many benefits and drawbacks to pursuing a graduate degree and a masters in business administration (MBA) is no exception. Before making the commitment to an MBA program it is a good idea to weigh the disadvantages to ensure this decision is the right one to make.
The primary drawbacks generally associated with an MBA degree are related to cost, time investments and the fact that it is a vigorous program that can lead to physical and mental exhaustion, especially if balancing the program with a family and/or job responsibilities.
According to some sources, the average cost of an MBA degree is about $30,000, which is a substantial financial investment. Before taking the plunge, you will want to be certain it will be a valuable degree to possess at the end of the educational journey.
After spending tens of thousands of dollars on a degree, you will likely want to be able to have a return on your investment, and doing research to see where you want to go in your career is a good idea before signing yourself up with a program. It may be that an MBA may not augment the career path you desire to take, and in this respect might turn out to be a poor investment of both money and time.
Investment of time
An MBA program is a hefty investment of time. Each course is usually demanding and requires several hours outside the classroom of study, completing projects, and ultimately working towards the capstone. Some programs require an in-person appearance, which may mean time off from work or away from family, which can pose a challenge.
Depending upon your individual circumstances and other obligations you must attend to, an MBA may not be a good match for you. Although, on the plus side, today’s colleges that offer the MBA degree provide many different options for students such as part-time or online programs.
Can be exhausting
The MBA is traditionally known as an intricate program that encompasses many different facets in each course. Most individual classes require a lot of research and development of projects. It is not uncommon for most courses to require a business plan for that topic (i.e. marketing) to be written. This being the case, before going through the admissions process, it is important to consider whether or not you’ll want to dedicate this type of energy.
Pursuing a masters in business administration is often an appealing option, and in the end it can bring a lot of value to a portfolio, however before taking the leap it is also just as valuable to consider the disadvantages to be sure it is really something you want to do.