KEY TAKEAWAYS
- An MBA can enable major career transitions especially if you’re looking to switch industries or work internationally.
- MBA programs provide access to global professional networks and strengthen entrepreneurial skills.
- Evaluate your personal circumstances and career goals carefully to determine if now is the right time.
In today’s competitive employment market, higher education plays a crucial role in shaping careers.
For many professionals, getting an MBA seems like the next logical step to advancing their career. The benefits of an MBA are applicable regardless of your industry or area of professional focus. However, some individuals may wonder if it’s worth it to pursue an MBA, given the commitment and expense involved. For those who plan to work in a managerial capacity, with financial institutions, or who have entrepreneurial aspirations, an MBA can help build the leadership skills required to succeed in these arenas.
In addition to a wider range of job opportunities and increased earning potential, an MBA can help you connect with a diverse group of professionals and become part of an extensive global alumni network.
Here are some things you need to take note of when considering if an MBA is worth it for you.
1. You’re eyeing a career change
Have you been considering switching industries, or even countries, in your professional career? Do you feel like it’s time for something new, even if you’re not sure what that is? An MBA can help you change industry, job function, or location—or all three at the same time, in a so-called “triple-jump”. Career and leadership coaching is a core component of an MBA curriculum, so the degree can also benefit professionals who are unsure about their next steps. If you’ve always wanted to pursue a career abroad or wish to move into a sector that better aligns with your interests or values, those are signs that you’re ready to take the leap into an MBA.
2. You want to expand your professional network
Earning an MBA makes you part of a global network of nearly 100,000 alumni, giving you access to respected and intelligent professionals you may not have otherwise had a chance to connect with. Beyond being part of a broader community, you’ll also have the opportunity to build relationships with other professionals in the classroom and beyond. An MBA can unlock new professional opportunities, including senior management and C-suite roles. It’s a valuable credential for those seeking to climb the corporate ladder or switch industries. MBA programs offer access to a vast network of professionals, alumni, and subject-matter experts. These networks often lead to mentorship opportunities and connections with top companies, enhancing career growth.
3. You need an infusion of entrepreneurial DNA
MBA programs can exist, technically, without entrepreneurial training. In practice, however, that approach compromises the future of the industry. Particularly within food and wine, and particularly in Italy where gastronomic traditions are revered, there is a paradoxical need for innovative business strategies that will sustain the enterprises and enable the traditions to persist. Leone and her team know that this is a challenge especially in Italy where businesses do not excel at scaling up; that’s why the MBA program is embedded in the Italian context — part of its DNA — but with a global entrepreneurial mindset.
4. Your personal circumstances make it possible
There are lots of personal variables to consider when deciding if you’re ready for an MBA. You may have the requisite professional experience, but can you afford to take one or two years off work to study? You may be ready for a career change, but do you have family commitments that prevent you from relocating abroad? An MBA represents a substantial financial investment. The average cost of an MBA is very, very steep. While total MBA fees can vary depending on where you study, the bottom line is that cost is an essential consideration when deciding if you’re ready for an MBA.
If you think your employer would be open to sponsoring your MBA, this is an excellent way of attending business school without the financial burden. But if you want to move abroad or switch sectors, consider whether you’re in a position to support yourself through an MBA right now. A full-time MBA is also a considerable time commitment. During that time, you’ll be expected to attend classes on campus. If taking up to two years off work isn’t possible for you, whether because of personal commitments or for professional reasons, then you might look into a part-time MBA or an online MBA.
5. You need a deep dive into an industry’s unique dynamics
Naturally MBA programs teach competencies in business and management, first and foremost. Given that foundation, there are also advantages of specialization in order to understand the unique dynamics of the food and wine industry. Every industry needs business practitioners, but it’s the ability to live and breathe the industry from within that initiates the most meaningful and lasting innovations.
An MBA can be a transformative experience, but it’s not the right choice for everyone. Carefully evaluate your timing, financial situation, and career objectives. For some, online MBA programs may offer the flexibility and affordability they need, while others may find traditional on-campus programs more rewarding.
