Undertaking a Masters of Business Administration (MBA) is no light investment of time, money and energy. For me, even getting to the point of deciding to start the journey… then deciding where and how to do the journey felt just as arduous and has been a 10 year journey! With full-time work and 3 young children, I wanted to make sure the time was ideal (knowing there would never be a “perfect time”) for my family, work and life season.
In 2019, I finally made it to the starting line at AGSM (Australian Graduate School of Management) at UNSW Business School. Its already been an incredible and transformational learning experience and adventure… and so for those of you who are sitting on the fence, why not give it a go?
I often get asked “What will an MBA get you?”. An MBA is a post-graduate generalist business degree that originated in the USA in the 20th century and covers business disciplines such as accounting, economics, finance, and marketing. Most programs include elective courses, and the opportunity to specialise further. It can be undertaken as a full-time, part-time, executive and online program.
Some of the potential benefits for completing an MBA degree include:
Having the opportunity to learn and grow both personally and professionally. This often includes opportunities for exchange programs that take you out of your ‘work/industry/city’ norm and expand your thinking
Learning experientially and practically from diverse facilitators and an experienced cohort, with most students having at least 10 years of work and life experience across a wide range of industries (The average age of an MBA student is 36 years old[i])
Growing and building a strategic network (or simply making new friends!)
Building on and expanding your leadership and management capabilities
Understanding the strategic and operational ‘nuts and bolts’ of a business
Helping you set up your next career pivot and transitioning your career (including Entrepreneurship and Portfolio Career options)
Increasing success for your next job application and/or promotion
Increasing your salary potential
Combining a general manager business program with a specialisation
Opening doors to executive and non-executive director opportunities
Some people question the relevance of an MBA in this day and age. But all the potential benefits to me seem just as, if not more relevant in this 21st century (A side note: not all MBAs are equal).
It’s obviously a personal decision, and the cost versus benefits needs to be weighed up. If you can narrow down the key reasons WHY you would want to pursue further education with an MBA, this will hopefully determine your WHERE and HOW.
All the best!
P.S. Sharing some resources that have helped me along the way -
ABOUT
Michelle J Castaneda is a change catalyst and business leader with over 20 years of corporate and NFP experience. As an Executive Manager Michelle champions change for growth, builds high performing teams and community wherever she goes, and encourages people to lead with purpose. She is a Leadership Advisor, Consultant and Mentor. She holds BEc(Soc.Sci.) and GradDipCIT qualifications and is currently undertaking an MBA at AGSM (UNSW Business School). She lives in Sydney with her husband and their children.
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