You have just lost your job! Now what? Should you go back to work or should you consider getting a MBA (Master of Business Administration)? This should be carefully considered with the pros and cons of both listed. A problem many employers face when it comes to a career in business is downsizing. Many employees consider getting a MBA to prevent this from happening.
Careful consideration should be given to the following questions:
- What are the priorities in your life?
- Can things be arranged so you could have time to study and attend classes?
- What are the pros of going right back to work?
- Can you find a similar position to what you had before?
- What are the possibilities of finding work that you would enjoy doing?
- What companies are looking for employment?
- Have you sent your resume to other companies?
- What types of interviews might be possible?
- How does your spouse feel about you going back to work or deciding to get a MBA?
- What responsibilities do you have as far as children?
Another area to think about are financial needs.
Some of the things to consider in deciding to go back to work are financial needs.
- Can you afford to take the time to get the MBA? Do you have a spouse and family?
- Could your spouse support you while you go for your MBA?
This is often a tough decision because most people have financial obligations and often a family to support. If the spouse could care for these needs and you can afford taking time off to get a MBA then it might be a great idea. However, many loans are available from various sources. Do not let the financial costs be the only reason for not going to graduate school.
Many companies will hire an individual who is willing to spend the time studying and getting a MBA. Some companies will even pay for the expense of going to graduate school. Often for businesses such as business consultants or investment bankers require an employee to obtain a MBA. Many companies are downsizing and will keep key employees such as those with a MBA. Networking of students and other professionals made during the time going to graduate school often prove to be beneficial.
Some of the decisions made about graduate school are whether a person wants to go to school full time or part time. There are distance education classes available on the Internet. Which is the best university to go to? What universities are close to the area where you live? Will you need to move the family to a location close to a graduate school? It is important to choose a course that is accredited by the Association of MBAs.
Often having experience working in a business association is a plus in going to graduate school. A person knows the importance of studying and putting forth extra effort to obtain good grades. In some cases it is a good idea to take a course or two that would be given credit if you decide to get a MBA. If these do not work out for you then the expense of graduate school is not involved.
The decision to go back to work or to get a MBA is serious decision that should be based on what the entire family thinks. The entire family will be putting forth effort in helping you obtain the degree you want if you decide the MBA is the right decision. If you decide to go back to work still keep in mind that part-time and distance learning is available. Making the right decision is often difficult to do but careful consideration should be given to both choices. So you have lost your job and a difficult decision must be made. What will it be? What is the right choice for you?