The Real ROI of a One Year MBA

| November 29, 2016 | 4 Comments

 

The Real ROI of a One Year MBA

 

calculator-scientific-pixel-small

 

You’ve crunched the numbers a million different ways; you know better than anyone that across North America, a graduate of an MBA degree program sees on average a 75% increase to their pre-program salary. You know that it takes 4 years for the difference in salary to pay back the initial tuition investment, and that over a 10-year period, you will have earned $500,000 more than you otherwise would have. If you have a clear vision of where you want to take your career and you know that earning a Master of Business Administration degree is the way to get there, it’s a sound financial decision that will pay you dividends.

Even when you take into account the lost income of taking a year or two out of your career (and this is where a single year program can really help), the investment makes sense, but are there intangible assets that you gain from earning your MBA? These are the insights you gain into business practices and methodologies, the contacts you make from networking through your school, and an integrated perspective on business challenges.

If you’re debating a 1 year MBA program, especially with a specialization in Entrepreneurship, you may have fallen into the pro- and anti-graduate school debate. There are vocal opponents on either side: some claim you can’t teach innovation while others think an MBA is your best weapon in the world. You can find plenty of reasons that support furthering your business education before jumping into your career on Lazaridismba.ca and there many successful business leaders who encourage young people to pursue the MBA route. On the HBR, scrap metal tycoon Stephen Greer tells the story of how he went straight into building his own company rather than taking the time to learn more about best practices and methodologies. His company was a $250 million success, but he claims he missed out on a lot of money and opportunities because he didn’t know how to manage human resources, control his inventory and prevent fraud, or expand at a strategic pace. Ultimately, he says that while you can’t teach someone to get excited by risk taking, an invaluable quality in an entrepreneur, you can teach them a lot of valuable lessons about how they strategize and manage those risks.

 

pen-writing-notes-studying-pixel-small

 

When you take your fledgling business plan to university, you essentially get a lab for trying your idea and probing for mistakes. Institutions like the Lazaridis School of Business and Economics can give students with great ideas access to startup incubators and even funding opportunities. Entrepreneur-focused courses concentrate on practical, hands-on approaches to business management so that you can learn invaluable skills like how to scale and attract talent. No one can teach you a great idea, but they can teach you what to do with it and how to turn it into a viable, competitive company.

One year MBA degree programs offered by b-schools like the Lazaridis School of Business and Economics provide great financial returns, but whether you want to be an entrepreneur or an executive, a higher degree puts you in a position to achieve independence and control over your career. The real ROI of this degree is the education it gives you allowing you to embark on the career you’ve always envisioned for yourself – it’s time to stop crunching the numbers and apply today.

 

Tags: , , , , , , , ,

Category: Business, Education, Family, Finance, Living, Tips, Weekly Themes

About the Author ()

Lyne is happily married and has two teenagers: a 19 year old son and a 22 year old daughter. She is a Certified Infant Massage Instructor (CIMI), Certified Professional Wedding Consultant, and an Event Planner. It has always been her dream to create a website dedicated just for Moms since her children were young. Thus, after 10 years, she finally accomplished it, and the Ottawa Mommy Club was born in May 2011. She was also the Queen B of the BConnected Conference, Canada's Digital Influencer and social media Conference in Ottawa and Toronto. She coordinated the Annual Infant Information Day/Early Years Expo for the City of Ottawa for 8 years. She was also the co-chair of the Navan for Kraft Hockeyville 2009-2011 committee that organized five community events within 6 months, and helped Navan reach the top 10 finalists in Canada. In April 2011, she received the Mayor's City Builder Award.

Comments (4)

Trackback URL | Comments RSS Feed

  1. Elizabeth Matthiesen says:

    A very interesting post. I’m sure my daughter would be interested in this too. She has her MBA in business psychology, which she also completed in a year and her Doctorate too. She now teaches and researches in Sydney, Australia.

  2. loriag says:

    Definitely information one should look into if planning to do a MBA.

  3. KD says:

    My husband is considering an MBA. Thanks for the food for thought.

Leave a Reply

Your email address will not be published. Required fields are marked *