Do you have to trade your salary?

Posted On December 8, 2008 | Written by Emmanuel Oluwatosin

I have received series of emails from people asking for advice on choosing a business school. So, I decided to use this medium to answer one of the questions raised. If you are considering pursuing an MBA programme, then read on. Going for an MBA programme might mean sacrificing your present salary throughout the period you would be in school. It may mean you having to fall back only on your savings or investment to meet the financial demand that an MBA programme would place on you. Do you think you have all it takes? Do you have the strength to put in the required sacrifice?

Studying for an MBA is one sort of sacrifice and the weight may be heavy. The truth is that some of the people you are leaving behind at work might have moved up the career ladder before you finish. The result? They would be earning more [tag]money[/tag] than they were earning when you left them and you might not be able to measure up in the immediate. You need to sit down and decide if it is worth it trading your present salary and briefcase for a backpack and [tag]student loans[/tag]?

The thought of going back to school conjures up serene campuses, summer vacations, and a laid-back lifestyle. After several years of 60-hour workweeks, heading back to class might sound like a much-needed two-year break. And, hey, it seems [tag]MBA[/tag] grads can command six-figure salaries. What’s not to like? Should you go for it? Only you can decide that and your dreams / goals should form the basis of your decision. Consider the following questions and be sincere in your answers.

Where Do You Want to Be in Three / Five Years? The first step in deciding whether or not to strap on your backpack and head back to school is to figure out what you want to get out of an MBA program. Business school can mean a heavy [tag]investment[/tag] in time and money — two years for most full-time programs, give or take a year for executive MBAs and part-time students. Ask yourself first how [tag]business school[/tag] will help you meet your goals, then consider what you’ll be bringing to the mix.

Do You Need an MBA to Get There? It’s important to investigate the skills needed for the particular type of position you want. You may be surprised to find out that while an MBA may be an important factor in fields like investment banking and consulting, it would not automatically guarantee you an interview in some industries. But if you’re looking to move to a completely different career, an MBA can definitely facilitate the switch.

Having considered the two questions raised above, do you still feel you need that MBA? Does it worth it to trade your present salary to achieve your [tag]goal[/tag]? If you are yet to answer the tqo questions, go over them again and ensure that you are sincere. This is about your life and only you alone understand that dreams you have. Weigh your options and go for IT if it would move you towards your goals. Decide today to follow your passion.

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