The Master of Business Administration (MBA) degree is a fine stepping stone toward a high-paying salary and executive position within any number of companies. While it’s an expensive investment, the number of applicants in the US for the top 10 business schools alone numbered over 50,000 in 2011. The MBA stresses practical and useful management skills and can be earned while paired up with another program of study, like the MPH degree (Master of Public Health) or MPA (Master of Public Administration).
With growing demand for programs that fit everyone’s lifestyle, it’s now possible to pursue the MBA online and part-time (as well as the traditional full-time studies), making the degree more widely accessible. Yet once the degree has been attained, graduates of these programs can find themselves professionally adrift, unprepared for the realities of the post-MBA employment world or given to inflated expectations. Luckily, a little foresight will keep MBA grads from making these costly mistakes and assumptions at the expense of their fledgling careers.
Being Shy About Networking
No doubt you’ve heard the phrase, “it’s all about who you know.” If there’s one thing you’ll learn after graduation, it’s that connections and networking tend to give you a bigger leg up than the impressive business school name in bold print on your resume. While your Harvard degree would probably look good even on a Post-It and can play a vital role in letting your prospective employer know that you’re bright and hard-working, keep in mind you’re not the only person going after that job – and the just-as-bright grad that went to NYU might have a cousin who knows somebody.
Ideally, you started networking before you graduated, attending meet-and-greets where you, the student, could mingle with the all-important alumni and make a positive, lasting impression. After, a friendly email or phone call would not be remiss. Politely introduce (or re-introduce) yourself, explain why you’re contacting them and ask for their expertise or advice in going forward. Your business school’s alumni network is an incredible resource and best of all – most established graduates don’t mind sharing their wisdom one bit. Nor should you ignore your fellow classmates: keeping in touch, whether through Facebook or LinkedIn or just an email group has the potential for major career payoff one day.
Expecting a Six-Figure Salary
Once you’ve landed that game-changing job, you’ll have to negotiate salary. If you didn’t go to an Ivy League or otherwise top-name school (or even if you did), you can’t expect six figures right off the bat. Yes, you got your MBA partly because you wanted to rake in the big bucks and provide for yourself or your family a lifestyle free from want. But the huge salary numbers that got you to agree to that likewise huge student loan are often skewed geographically (the biggest cities will have the highest salaries thanks to pricey cost-of-living) or toward top 10 program graduates. So negotiate something a bit more realistic, for now. Opportunities for salary increases will come along, provided you work hard to earn them.
Throwing Away Money
If you went straight into business school from undergrad studies, chances are this is the first time that you’ve had a full-time job with a steady income, which is heady for a single man or woman. Your impulse might be to go a little crazy with all that cash, dinners out every night, furnishing your new place, maybe even treating yourself to a new car. One word of advice: don’t. Manage your finances the way you’d ideally manage your weekly workload; that is, with consistency and moderation. You probably have some serious student loan debt to pay down; don’t compound your major financial obligations. It’s a slippery slope that’s hard to crawl up from and it can destroy everything you’ve worked for faster than you’d think.
Not Taking the Next Step
Getting your MBA isn’t the last step toward career fulfillment. Any forward-thinking employee will cull from his or her superiors and established co-workers helpful wisdom and techniques for future success. Keeping yourself open-minded to helpful critique and the advice of those who have been where you are is essential in order to continually learn, even long after you earned your MBA marketing degree.
This article was written by Justin Davis who is currently working towards a master’s degree. Justin loves to write and believes strongly in the importance of higher education.
