To MBA or not to MBA – that is the question!

This month’s nugget is an updated piece I wrote a few years ago now…but it is still very relevant.

I have been asked about the value of MBAs for marketers far more times than I care to recall from the thousands of marketers I have interviewed over the years and don’t doubt that I will be asked it many more times in the future – because it is a good question.

Like so many good questions the answer is not a simple one and “it depends” really doesn’t cut it. But the truth of the matter is that it does depend…on:

• Why are you considering an MBA?
• What do you expect an MBA to deliver for you?
• At what stage are you in your career?
• Where do you plan to do your MBA?
• Part-time/Full-time? Campus/distance learning?
• What resources (time/money/corporate support) do you have?

…and to make matters worse these are not questions with isolated answers. They are in fact interconnected and interdependent leading to a myriad of conclusions and circumstances.

So let’s start with some definite benefits. Under most circumstances an MBA will:

• Broaden your commercial horizons in terms of both functional skills and sector experience
• Give you a new network of, mostly, like-minded professionals from a wide variety of walks of life who will likely become close and very trusted
• Empower you with a language better understood and appreciated in the C-suite (especially the CEO and CFO) than your previous marketing hyperbole
• Challenge your default thinking and opinions in a good way
• Provide you with a more complete and holistic view of business and the wider commercial landscape
• Improve your soft skills such as cross-functional team-working, people leadership and presentation/public speaking skills

All compelling stuff and may well address your personal answers to the question of “to MBA or not to MBA?”

However, let’s also consider some misnomers regarding MBA’s. Under most circumstances, these days, an MBA will NOT:

• Double your salary overnight. In the long run it may give you a slight edge where money is concerned but only if it has made you a better and more valuable employee, as demonstrated by contribution and outputs.
• Instantly provide you with a plethora of new career opportunities. As above – the MBA does not empower you to suddenly jump tracks into a new career path neither will it allow you to leapfrog two roles ahead at the same time.
• Transform a poor career into a good career – “put lipstick on a pig and it is still a pig”. This is just the harsh reality of life and a competitive market-place. An MBA should never be viewed as a career lifeline.
• Make you the best of the best – MBAs are far more prolific than they ever used to be and have a number of newer, more vocational and technical based qualifications to compete with. It is part of the armoury but it is not the complete arsenal.
• Turn you into the most charismatic speaker and leader. An MBA will introduce you to what it takes to become such, but it will take years of continued practice and personal development to equip yourself with these traits if you do not naturally possess them as part of your inherent make-up.

These opinions have been arrived at from observing what happens in reality for marketers under any number of different circumstances. Two other major considerations that cannot be ignored in the decision to MBA or not MBA that I won’t cover here are the costs and projected payback periods and where/how to do the MBA. It is still the case that not all MBA’s are equal.

I would urge any marketer considering an MBA, to reflect deeply and honestly on the questions outlined at the start of this article before committing to the challenge. Also be realistic about where your career is heading and which path you want – general management or CMO? The MBA has relevance to both but there may be more appropriate options for the latter. Mini MBA’s (Mark Ritson’s carries huge credibility); personal development workshops from the likes of ADMA, The Australian Marketing Institute; short tech courses (especially around newer technologies and breakthroughs, like AI); my personal favourite, The Marketing Academy (if you can score a place); and various courses from the AICD, may offer just as much, if not more validity at a fraction of the cost and time commitment. All of these options will not only arm and equip you with additional skills and knowledge they will help your CV stand-out, when the time comes.

Other nuggets from around the traps over the last few weeks:

No Regrets: 5 strategies to get clear about what you want in life – For most people a career is a means to an end. This will help you be clear on why you do what you do and what you want out of life.

Neuroscience says 4 brain workouts will improve your memory and make you mentally stronger – Kinda familiar territory…personally, running is a big fat no (boxing yes); but the real tester here is using your non-dominant hand…I can barely drink a beer with my left hand so this is a challenge I will accept!   

How to get through an extremely busy period at work – that is their title…for marketers we could shorten this to “how to get through each day”!

Why it (literally) pays to be pessimistic, grumpy and even occasionally angry, backed by neuroscience – could not resist this share. We have all been there putting on a fake smile whilst inwardly simmering…maybe there is another way?

As ever, here is a link to the Resources page on the Hire Aspirations website where I have gathered together some of the most lauded books, podcasts and courses to help you become the best possible marketer you can be.

And of course – if you do need help with some recruitment demanding the very best marketing talent:

Until next month, aim higher | be better

Andy