5 Things All MBAs Should Know

Getting an MBA education can be an enriching experience, it can provide you with many beneficial tools and insights, however, it's important to remember that one can not succeed in his/her career and life just based off these, you'll also need the right attitude and skills.

The following are 5 points that all MBAs should keep in mind.

1) An MBA is not your express ticket to great riches and wealth. Many students who expect the big money to roll in soon after they graduate will be disappointed. Most of the times, it'll take graduates 2 to 3 times longer than they expect, to be making their desired salary. According to a report by GMAC (Graduate Management Admission Council), the median starting salaries for MBAs are approximately $90,000, a figure that's been about the same since 2008.

2) Qualifying for an MBA program doesn't make you smarter than other people without an MBA. For everything that a business school teaches you, there are many more insights and knowledge outside of the curriculum that you don't have. Having an elitist attitude will, in fact, narrow your perspective and diminish your capacity and ability to learn new things.

3) There won't always be the 'best' solution to every problem. A business school trains students to be very analytical and achievement-oriented. MBAs should always keep in mind the cost benefit of searching and implementing the 'best' answer, because sometimes, a simple and adequate option will suffice. Unlike working on a case study in school, you won't always have the luxury of time, or the access to the best information available, sometimes you'll have to make do with what you have.

4) Getting into B-School doesn't mean you're guaranteed to succeed. Many executives will come to your school, and give talks about business and life. They'd also commend you on how much you've achieved by getting yourself into the program, and that you've got it made. Well, the reality of it is, not every MBA 'makes' it. There are B-School graduates who failed in business, under-achieved in their companies, gotten severely depressed, etc. Success still very much depends on the person holding the MBA, and not the MBA itself.

5) You just joined a company, and you think you've got a handle on how everything works, and how you'd be able to fix all their problems. You're fresh out of school and hungry to make a change, so upon joining a company, you're suddenly telling everyone how to do their jobs because they don't know any better. Many a times, these over-enthusiastic and over-zealous MBAs wouldn't have taken real time to get an understanding of the full extent of the problem or situation, you'll need patience and measure to be able to make a real meaningful change.
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