Taking Refuge in an MBA Program

Thinking about getting an MBA? Perhaps as a way to ride out the recession? You should read the Career Couch column in the latest Sunday Business section of The New York Times.

If you're out of work now and already have determined that an MBA might improve your long-run career prospects, entering a program may be a profitable way to utilize what otherwise might be downtime. Additionally, entering an MBA program might present a useful networking opportunity, especially if you intend to change your career direction or industry. However, don't forget our earlier discussion of estimating the return on investment from getting an MBA, as well as a discussion thread in our forum. Getting an MBA is an expensive proposition that demands detailed research and cost/benefit analysis.

There is other sage advice in Sunday's article. If you intend to change your career or industry, research the job prospects therein, such as through professional associations. Don't make an ill-considered choice that lands you in troubled waters.

Additionally, prospective employers will understand that this is a tough job market, in which it is inevitable that quality persons will be out of work for extended periods. Thus, it is probably unwise to enter an MBA program simply to avoid having a lengthy stretch of unemployment on your resume.

A final issue in the article is whether, if you decide to take the plunge and pursue an MBA, you should seek to attend full time in the day or part time at night. It seems, according to the author's research, that full time programs at the top schools still confer the most valued pedigrees. This tracks with my own experience over the years.