I am often asked if I feel that I use my MBA a lot in my career as a consultant. It’s a difficult question to answer, because MBAs aren’t lawyers or doctors who practice a very specific skill. And there is certainly no license that accompanies our degree. As an MBA, you develop some quantitative skills, which you are likely to use daily if you go into finance.
For those in Marketing or Consulting you are more likely to find value in the frameworks you develop with which to approach problems. These are often developed through the case method, and they are meant to give you a toolset for when you face complex problems. The complicating factor is that when you recall these frameworks, you don’t consciously reach into a toolbox, select a specific tool, and thank one of your professors. You attack each problem in a unique way, and in the end, you really don’t know if your MBA benefited you or not.
This can be a little tough to live with. After all, most of us pay handsomely for our MBAs. I don’t have a great answer for MBAs to help them feel good about their investment. I take solace in the fact that people will seek me out for their difficult problems. I don’t think I could have done this without my MBA. The coursework, interactions with fellow students, and extracurriculars made available to me all contributed to my reputation as a problem solver.
It also really helps to be quantitatively sound. While I am not crunching numbers every day like my financial counterparts might be, I frequently work with “quants” and encounter all kinds of data. The ability to dive into data has proved very beneficial to me.
So yes, I believe that I use my MBA. I think that it is worth it. I will KNOW that it is worth it once I have my loans paid off.