MBA: Is It Right For You?

MBA: Is It Right For You?

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Let me start with the punchline;
MBA… definitely, absolutely, without a doubt, 100% boosts your career. Whoever doubts this, is either incredibly
incompetent, or has a different agenda. So your starting point shouldn’t be whether
its valuable. Because it is. But your starting point should be whether
its valuable enough that justifies your actual money and time investment, and the opportunity
cost you create by not working for 2 years. So, let’s find out if an MBA degree is right
for you. The way I see it, you gain 2 types of returns
by having an MBA degree; First one is that you learn. You obtain sort of a cohesive understanding
of how business works. You learn everything from marketing to business
strategy to corporate strategy to accounting. And the second benefit is that You get an
increased salary from your current employer. Or get a new job with a higher salary in a
new organization. So, let’s talk about them one by one. And see if they are really as beneficial as
you may think. By the way, I do have an MBA degree. In fact, it’s from one of the top 10 business
schools in Europe, It’s Cass Business School of City University London. I graduated in I think 2012. I was 29 years old at the time. My experience is a great case study for you
because you’ll hear about not only the short term benefits but also long term benefits
of the program. So, please pay attention. Let’s first start with the Education. Now, in an MBA degree you definitely learn
a few things that you didn’t know before. But I certainly doubt you’ll learn enough
to justify the investment. You will not learn anything that you can’t
learn from books. Do you want to learn strategy? Good go read Michael Porter’s books, wanna
learn Marketing good go find experts in the field and read their books. Your professors will teach the same stuff
just more filtered, condensed, and presented with slides and case studies. So, the value isn’t really in the knowledge. MBA is too general for it. It may give you that cohesive business understanding
but not specific enough so that you can develop strategies to win. MBA is like a milewide but inch deep. You’ll know about segmentation, positioning,
fine.. but that’s just too high level. That’s not what is needed for majority of
corporate professionals to win. Or for entrepreneurs. For example, you learn general marketing,
like; positioning, segmentation in MBA, but in real world, what you need to know is the
conversions, funnels, how to create funnels, marketing for specific platforms, digital
A/B testing, SEO, PPC, you know… The knowledge you learn at MBA is really applicable
to CMOs or CEOs of Fortune 100 companies. It’s not detailed enough. And the other issue is the fact that the world
of business is changing fster than their ability to update their curriculum. So, they are always lagging behind. In simple terms, MBA definitely doesn’t
make you a better employee. It doesn’t make you a superstar performer. I’ve learned this the hard way. After my MBA I ventured into consulting, I
first worked with a consulting firm called AccountAbility which focused on sustainability
consulting. And, in that firm my MBA sort of held its
ground. It was OK. But then after AccountAbility, I joined PwC
Consulting. PricewaterhouseCoopers. And that’s where shit hit the fan. Excuse my language. I was very confident you know. I thought I am the shit. I have an MBA degree from one of the best
schools in the world, I spent 2 years and tens of thousands of pounds. I am also coming from another consulting firm. I know what I am doing. I had the shock of my life in my first month. The level of intensity, intellect, knowledge,
expertise, action, the thought process those guys play at, it’s just out of the world. It was not something I had ever even thought
of. And I am not even talking about managers or
partners, I am talking about junior consultants, senior consultants. Guys who report to me. In my first maybe up to 3 months, I failed
at everything. I failed at consulting, quality client work,
in my presentations, and even leadership. My confidence took a beating you know. This was 5 years ago. So, that’s when I learned the hard way that
while an MBA supposedly prepares you to all these top notch consulting firms or investment
banks, the reality is that they don’t. I mean fortunately, I adjusted very quickly
and I survived, then I eventually thrived. But even after 5 or 6 years now, I still can’t
forget the shock that I had. It was a shock that lasted over 3 months. Ok, I hope this was clear. education quality? don’t expect miracles… Next, is the return on investment. So, you get that either through an increase
in your salary from your current employer or you get a new job with a higher salary
in a new organization. This is true and if you are in management
consulting, corporate finance, investment banking, and consumer goods then you’ll
probably benefit the most. In fact, if you are smart about just 1 thing,
then you can benefit immensely. I am gonna share with you what that 1 thing
is, just in a minute. But I need to first give you an analogy. Think of your career as a computer. Like an assembled pc. All your previous employers, and your schools
are like the components that make up that computer. So, when a buyer looks at the computer, it
doesn’t really look at its case, right? You look at its components. You say oh it has an Nvidia GTX 1080 graphics
card or you say it has an unknown name graphics card from North Korea. This is very similar in your career. The brand name of your previous employers
or your business school give you the credibility. And that credibility makes you jump to the
next level in your career. But Deniz, why is brand name important? I mean you can still be a kick ass professional,
even if you don’t come from big name employers or schools. So, there are 2 answers to that question. First one is the obvious one. Better training, better exposure, more competitive
environment, well educated and experienced team members. This is the obvious one. But there is also a less obvious reason, and
this is highly true for consulting firms and investment bankers. See, consulting firms, essentially sell 2
things; they sell their track record in certain work packages, right? Like the experience of the firm. But they also sell your profile. In each proposal we prepare, there is always
a detailed section where the background of the consultants go in. And trust me, that’s usually the first section
clients look at. You give a 100 page proposal, the first thing
they do is open it up and look at the people. And that makes perfect sense. Firms don’t exist. They are only bunch of people put together
to deliver certain value adds. It’s people. So, continuing with the same analogy, your
resume, is nothing more than the brochure of that assembled computer. That means the more brand names you collect
as components, the more chances you will have. Why did I give this analogy? It’s because, if you are going to have an
MBA degree, the worst decision you can make is to go invest that money and time into a
school that doesn’t even have a strong brand name. Because the brand name is the only thing you
are getting out of it. That brand name converts into money not the
knowledge. Anything below the top 100 MBA programs in
Financial Times rankings, in my opinion should be avoided like the plague. And if you want really strong returns, then
I suggest you stick to only top 10. Let me share with you why I personally wanted
an MBA degree and how it turned out for my career. See, after I lost my job with Standard & Poor’s
back in 2008, I had many opportunities. I had Goldman Sachs, JP Morgan, and even Bain
interested in working with me. But the salaries they offered were not what
I was expecting. I was relatively young, and I didn’t have
a pretty strong vision for future. I didn’t have mentors sort of guiding me. So, I did a pretty stupid thing and joined
a no name local company, who paid me a lot of money. They paid me more than triple of what the
big name employers offered me. I think I was 26. So, I kind of cashed in the brand name of
Standard & Poor’s. And I made almost close to USD 100,000 salary. First it was amazing, I bought sports cars,
I bought Honda 2000, then BMW M3, I lived a pretty lavish lifestyle for a few years. This continued until when I lost that job
in 2010 during downsizing. That’s when things got quite ugly. I was stupid, I had no savings, I spent it
all on cars, and parties. And that was it. But I still somehow thought that all those
big name firms would still come and hire me. I mean they were interested in me just a few
years ago. Right? Wrong! I was no longer the “S&P guy” in their
eyes. I was a local company guy. They no longer even wanted to have interviews
with me. Nothing, the doors were shut. Then I settled for another local company to
pay the bills, again a no name employer. And it was really downhill from there. So, within as little as 3 years, my career
was destroyed. It felt like I fell from the champions league
down to UEFA cup. Not even that, even worse, like down to 3rd
league. And that’s exactly what it was. That’s when I realized that I need a brand
name again in my brochure. I knew that even after the MBA it won’t
immediately put me back to champions league, but at least it could open more opportunities
which can become a stepping stone to where I want to be. And that’s exactly what happened. I graduated from my MBA, and I joined a well-known
but boutique consulting firm which specializes in sustainability consulting. Then, I leveraged that experience to jump
to PwC Consulting. Ok, that’s it for today. But before I conclude the video, let me briefly
talk about the LIG program. If you are following my channel for sometime
you’d know that this channel entirely exists so I can have an opportunity to present my
LIG program to you. I strongly recommend you check it out if you
are unemployed or underemployed. Especially Before you consider an expensive
program like MBA. Because you may not be aware of certain advanced
strategies that will land you those jobs with multinational companies. Maybe all you need is a quick fix to get the
jobs you deserve. The program is not for everyone for sure. But it doesn’t hurt to just take a look. Maybe it can save you from a very large investment. Plus, LIG comes with direct online support
from me. So, I personally answer all your questions. It’s pretty awesome. Just Check it out. See you next week.

100 thoughts on “MBA: Is It Right For You?”

  1. Thank you. I was talking to a Phd the other day about doing my MBA through a 'brand name' school. He explained it pretty much like you did. It never occured to me before that discussion and you confirmed it with this video. I was going to do my MBA through a less prestigious school because they cost less. I have now changed my mind and will apply at the best.

  2. In Jamaica the value is the MBA once it’s from a university outside the country. So I guess the point of making sure it’s top 100 would not apply.

  3. Great advice/video…I work at a Fortune 500 company in NYC and you see the program name brand aspect play out consistently

  4. Hi sir, it was an amazing video but I need few suggestions for my career . I am currently having 2 yrs of experience in Capgemini as a System Engineer . Now wanted enhance my career so shall I go for a regular MBA or a corporate MBA. Also if I want to switch to a new company in a different skill is it gonna benefit my career?

  5. Hi Deniz ! would like to know how much distance MBA would help professionals. Will you recommend distance learning with any top 5 universities being a professional & running short of time to spend on regular course ?

  6. Hey guys, in this video you'll find out if you need an MBA degree to progress in your career. I'll also point out a major mistake most people make when choosing a business school. Hope you enjoy!

  7. Sir I need ur advice.
    I have mass media bachelor degree and mba from Mumbai university ,India.
    I have 3 years of experience in retail management.
    Currently m in USA but have a career gap of 2yrs Cox of my 1st baby.
    Now i want to get a degree here asap.
    Looking ur suggestion whether i should do course in marketing or do full time mba.
    Please do guide me.
    .

  8. I don't understand: you had a well-paying job that made you 100k/year, and you couldn't find another one because the company wasn't well-known? Didn't you at least have work-experience you could leverage?

    Sorry, maybe I'm ignorant. It just sounds like your only mistake was not saving money.

  9. Hi Deniz, I work for a pretty good company in San Diego attend Diego is not really great market for an MBA program. That being said my companies willing to reimburse around $10,000 a year for any graduate-level program. I have a mechanical engineer by trade but for the last five years I've been working as a project manager. Should I just get my MBA to get it so it's on my resume from a state school or should I don't even bother taking it? Please note if I give my MBA I wouldn't have to pay and I'm so it would just be free.

  10. Hahaha… Deniz I like very much the part you said you spent almost all your money on cars and parties.. I am relieved coz I like party so much and I also want to be a successful professional like you. Guez I can still make it. I'm 28.

  11. MBA for boring people with a sick apetite for control. I haven't met a brilliant one yet, but i also seem to be unlucky

  12. Thanks for sharing. Look! I have an MA in Educational Planning, Economics and International Development from the University College London, UK and am currently doing an MBA at a tuition-free online institution in the US (University of the People). I feel that am learning almost everything an MBA from a top school has: Organisational Theory, Managerial Accounting, Financial Management, Human Resources, etc. Do you think I can land a good Job after this program?

  13. I want to be entrepreneur and investor. can a MBA in finance help me with my goal as I'm from Engineering

  14. Hi , I have been watching you for last week. On this video of MBA, I have seen myself in the same situation. Doing job in local company and due to shrinkage , I had left . After that I have been searching for good company. But previous employer name somehow is creating a hurdle. Before watching your videos , what I have decided , I would do MBA from one of top 5 college and take a loan from NBFC. I am lost now in my career, as I think. I am currently doing a local job just to avoid being unemployed. This is the lose lose situation for me as again I am doing the same thing . And why I am saying to u ,don’t know. Well I will see your more program and then decide what should I do

  15. I looked at jobs related to an MBA degree and then searched those jobs in my area they expected you to have an MBA or other top level college degrees related to business and they also wanted experience which actually seemed like the harder part because they all wanted experience

  16. A lot of management positions in this area I've seen some good pay as well but what exactly would I do in these management positions? HR management, Finance management, general manager,

  17. People who go to low level graduate business programs and put 'MBA' after their name are trying too hard to prove that they belong.

  18. You can get 5 MBA's nothing will beat actually starting and running an actual business. It's like reading how to fly a plane theoretically nothing will beat actual simulation and real life practical experience.

  19. What if I already have a masters degree in Information Studies and I want to go into MBA with the mindset to focus on for example the commercial side of information (bookstores, publishing, or knowledge management). Would that be stupid?

  20. Hi sir, I just completed my bachelor degree in computer science, in the last 3 years of college i found out that becoming a programmer or a software developer or working in computer science field is not what i want in my life. I have a huge interest in bussiness and entruprunership. I could read the whole sunday an investing or bussiness related book but i had to force myself to study computer science books. I want to have a career in bussiness not compute science. Now i am confuse should I go for MBA now and then get a job in MBA related jobs or should i do job for at least two years and then MBA and get a job in that field? please give me a sugession sir. Thank you!

  21. I stay in Michigan . I do have a while before I graduate with my MBA but I just wanna make sure I am going in the right direction with my future goals. I wish I knew how to research my name brand companies in my State. Any suggestions?

  22. Thanku thanku thanku so much… ahhh I will not do MBA… as experience is more important and brand name… so why to invest a lot of money… thanku … m just 21 … I just have BBA

  23. hii, I'm watching your videos for a long time and it is quite knowledgeable for me.I have a question from you, Are Bachelor in arts distance program students are eligible for regular professional MBA in any popular colleges and do they get jobs at these bases??

  24. I have studied master in finance (in fact just finished now)

    But, looking at your video about 'brand name' I am considering about studying another master's degree.

    I thought about studying master in financial mathematics (more quantitative than my previous masters program) at LSE , which doesn't need any introduction, the name itself is self-explanatory of its brand

    But, the its the cost, its pretty expensive, I have been talking to many of my friends and many feel its not worth it to study second masters. But, I was like I am sure if I graduate from LSE it would open more doors and I have experience as well, Right before finishing my masters I managed to get international internship at big European company, Amadeus.

  25. The 2 views expressed in this video highlight the whole crux of MBAism. (1) MBA is not really needed for getting know-how: books and evening courses can do this. (2) MBA from 'top' institution puts a premium on the salaries of those having it. This hypocrisy is not unique to management jobs. Self-taught software engineers also feel the need to have some formal academic qualification to get senior positions in major companies like Microsoft, Google, Amazon, etc.
    I'd really like if you elaborated more on your first 4 months at PWC Consulting where you found out how little you really knew about real teamwork consulting – and especially how you coped and eventually thrived in this real intense working environment.

  26. Hi Deniz, Many thanks for your great videos. I am definitely a big fan of yours. I am 40 years old and I have 14 years of experience in oil and gas industry. I am planning to do a weekend MBA in Imperial College London. My ultimate goal is to work as a consultant in a consulting management firm in energy filed. Do you think I am too old for that?

  27. Wrong wrong wrong… it can be obtain while working, secondly he suggests that you put the time in but not getting the formal education? Really

  28. I still dont understand why no body teach us those things since a young age?!?! I mean if the ultimate goal was to increase profit and productivity isn't it better prepare every kid in middle and high school or even undergraduate school to be a strong professional worker?! Why does governments not invest on such valuable assets? This must be intentional. You can say it is a conspiracy but am really freaking pissed! Millions of people dream into getting to the best universities and the only thing they can get is a brand name? Why even judge a person based on the university he graduated from? Wouldnt be more fair to prepare every single kid from any school better than lying to them about getting to university then finding a stable job so easily??

  29. To be an entrepreneur you don't need an MBA. …… To show a complete stranger you have some level of competency before they hire you…… You need an MBA.

  30. Hey Deniz, what would be the reaction of an interviewer when you are applying for joining MBA program and he asks you why MBA? I love each of your answers for clear, practical and honest thoughts. I also want to do an MBA majorly for Brand name and amazing networking opportunity. But I am always advised by others to provide suger-coated answers like how I got attracted towards MBA from some event at college or in previous jobs and how I want to learn the MBA subjects to know more. I personally feel that if any MBA college professors want such answer then he is stupid because all subject knowledge is available in online courses. But still in reality many interviewers expect answers just like this and mentors tell me to give them what they want to hear. So what do you think is real thinking of these interviewers? Your personal experience may help.

  31. do you think northern Arizona university is a good school for business if your just trying to get your foot in the door

  32. Hi. I have a bachelor's degree in international business administration and master degree in tourism and services. I don't have experience and companies don't hire me. Can you give me an advice?

  33. I definitely need a Mba that too from top 25 mba schools in the world. My salary is peanuts but my organization is world renowned.

  34. I m going to start to MBA soon. I had graham from electrical engineering and is till have doubts that how the MBA ll effect my career? Does it woth to spend the time and money ?
    Thank you

  35. if you have 10+ experience and you learn your MBA on youtube you dont need to spend 3 years wasted in university

  36. I have the same concerns on when/whether i apply for a MBA. And this video give me some inspirations. Very useful.

  37. hello

    I alwyas watched your videos and its really informative.

    I am an MBA and looking for the job

    I have a query regarding to develop my personality and boost my self confrdence. Can you just help me that how I can boost my self confrdence and develop my personality?

    I have a knowledge that how to answers in the interview and which direction I have to follow to make my career but still I alwyas fill that there is fear inside me and I want to beat it. Can you just tell me that how can I do it?

    Hearing from you

    Thank You

  38. The value is not in the knowledge but your employers ask for it so you need it. I have a bachelors in business but guess what the MBA got the job more polished candidate.

  39. MBA has great writing and research skills for consulting. I work in real estate appraising and I cover all value aspects in my narrative reports.

  40. The value isn't really in the knowledge part… this we know—But we NEED THE PAPER to first of all get your foot in the door

  41. I am wondering, if there is a guy on the team who has, say, a PhD in some scientific subject not related to the topic at hand, but from a top-notch uni, would that be a plus, and big plus, or it won't matter at all?

  42. I was planning to take an MBA. After watching this video, it looks like I don't need it unless my employer is going to pay for my tuition. I am currently working in an F200 company after undergrad, the work experience can provide me greater value than the MBA unless it's top 25 in the US. This video is very helpful. Thank you! Brand name does mean everything.

  43. MBA wasn't a big decision for me, but I earned mine in 4 months and it only cost $4,000 at WGU. If you already have a bachelor's in business, MBA is a no-brainer because you'll fly through the classes at 100mph.

  44. It is not relevant nor is most degrees. Realistically after a few months you tend to forget everything you learnt..it hasn't helped me advance my carrier one bit.

  45. No work for 2 years!? Psh. MBA online in less than 2 years while working a modest 45 hrs. Idk, maybe it’s the school you pick. Also, the VA paid for my MBA through Voc Rehab

  46. Do you have any suggestions for someone who already have a master degree in healthcare and currently a program manager (small company upState NY) but feels like needs some management experience and education to obtain bigger projects/jobs ? Do you think MBA will be beneficial to someone in healthcare ?
    Thanks

  47. I agree with everything you said…as an MBA student, I learned more in this program than my whole undergrad! I also made a video on why should people get an MBA, it is worth every penny and every minute.

  48. I was planning on going to the USA to do my MBA , but i really wonder if its remotely feasible to take on such debt, hearing all these stories.

  49. If I wanted to specialize in HR though I have a Bachelor's pharmacy degree & will take HR diploma too, so is it worth it to take MBA to specialize in HR and have better job opportunities in HR??

  50. I got an mba at 36, never helped much as a corporate accountant. But I took an investment class and retired with over a million at 52. No degree has a higher salary or net worth

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