Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (2023)

Side Hustle Nation is dedicated to improving your personal profitability. To do this, we often partner with companies that share that mission. If you sign up or make a purchase through one of our partners’ links, we may receive compensation—at no extra cost to you. Learn more.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (1)A few years ago, I debated getting an MBA.

A lot of my friends were doing it, we have some world-class schools nearby (assuming they’d even let me in), and it seemed to be a solid investment in education.

I hadthis fear that without this extra credential or degree, I’d somehow be left behind.

For the most part, I’ve always been comfortable in school. I was a good student, and the structure of education made inherent sense: you show up, learn what you’re supposed to, and then pass a test.

Got it.

If business is scary, school is safe.

But what would an MBA get me? Perhaps I’d look more attractive to potential employers, but I was already self-employed and had every ambition to stay that way.

Would the material I’d learn be so earth-shattering that it would skyrocket my business to new heights, moreso than investing those hours and dollars directly into the business itself?

Ultimately I decided not to pursue the MBA, but have become fascinated by the “is college worth it?” debate.

Table of Contents show

What’s an MBA Worth?

The Bureau of Labor Statistics paints a rosy picture of the value of education:

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (2)

(And they may have good reason to. According to some Congressional Budget Office estimates, Uncle Sam could earn $100 billion or more in student loan interest over the next 10 years.)

But according to the government data, higher education graduates earn significantly more than their degree-less peers, and enjoy much lower unemployment rates.

Over a lifetime, those differences can add up to massive chunk of change,with college grads earning$1 million more than high school grads over the course of their careers.

And since no tuition (yet??) costs $1 million, a degree is still a purchase that makes sense, right?

There are a couple potential problems with that argument.

Costs vs. Benefits

The first combines the spiraling cost of education — roughly $37,000 for a 4-year degree at a public university and increasing at 8-9% per year — with the flat-liningvalue of that degree.

Perhaps the rising tuition costs are merely a reflection of a marketplace inefficiency; they’re justcatching up to what value they provide. After all, colleges aren’t suffering any enrollment shortages, and by definition, people wouldn’t buy something they didn’t think was worth it.

But what the BLS chart above doesn’t show is that while tuition keeps increasing, wages are flat. At a certain point, it’s a trade that no longer makes sense.

Maybe we’ve crossed that point already. Maybe we have a few more years to go. Either way, the trend can’t go on forever.

How Relevant is an MBA?

The second problem is the rise of the freelance economy, which is expected to encompass 40% of the workforce in the next 5 years.

I call this the “who you trying to impress?” dilemma. If a degree is a golden ticket to a traditional 9-5 corporate job (hey I can’t fault it — that’s the path I took), butpeople will increasingly be working for themselves, who’s going to care about yourdiploma(s)?

Employers may still value the degree, but if you’re going to be your own boss(by choice or by necessity), do you really need it?

But after that little preamble, what I really wanted to do in this post is get some expert opinions on the merits of earning an MBA vs. starting a business.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (3)

Why Consider an MBA?

1. Increase Your Salary

Chris Deardorff | Revnt

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (4)I self-funded my MBA (and still am via student loans) as I went back full-time. It was a fantastic experience and something I absolutely do not regret doing! It did payoff quite a bit in terms of ROI as it doubled my corporate job salary right out of business school.

If I were to do it all over again, I think I would have maybe tried to start my own business first for a couple years right out of undergrad and even gone through an accelerator (though they didn’t really exist back in 2005). I’ve heard a lot of people deciding to do this instead of an MBA. Interesting enough, my most enjoyable and valuable part of my MBA program was going through the entrepreneurial track so take that for what it’s worth.

(Video) 5 Best Side Hustles You Can Do From Home 2022/2023 ($300-$500 A Day!)

Ultimately, I would still recommend an MBA for people trying to start a business as I do think it adds value (provides business fundamentals, frameworks, and case studies to learn from) and also lends credibility to your professional reputation.

In terms of it helping my specific startup, it’s hard to say at this juncture. I think it does help in some cases (i.e. credibility and already having that business background) but I know a lot of people in the startup world (my target market), and even the corporate world in some cases, are put off by MBAs because they automatically label them as being theoretical vs. having real-world experience. Now, there’s absolutely some truth to this but I don’t think it’s fair to automatically place this label on all MBAs.

All that to be said, I think there’s both pluses and minuses in how beneficial an MBA is in the startup scene but at the end of the day, I think it having one helps someone more than hurts them.

2. Theory Plus Practice

Sean Higgins | VidGrid

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (5)I’m Sean, MBA from the University of St. Thomas and a founder at ilos, a Techstars company.

The biggest point I can strive here is that these aren’t mutually exclusivepaths.

My MBA taught me more about communication than 30 investor pitchmeetings (I’ve had them too). You also learn the essentials of being abusiness (5 forces, sustainable competitive advantage), and your way arounda term sheet.

Startups teach you how to do things. Every day on the job you’re faced withundefined problems and need to create your own solutions. They are theultimate testing ground for ideas and where you learn very quickly what youknow and what you need help with.

Theory and Practice make a winning combination.

I went to get my MBA after about a year out on the job in corporate. I hada 90th percentile GMAT score and got a good scholarship to go back. Myclassmates went on to get 6 figure jobs at corporate, which would pay fortheir degree pretty quickly.

As for my ROI? Hard to put a value on waking up every morning excited aboutgoing into work, but I can tell you it’s pretty darn high.

3. Personal and Professional Growth

Mari Corella

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (6)In early 2008 I was in a corporate fashion role but was frustrated by thelack of growth opportunities and salary the company was able to offer.

Andgiven the recession, opportunities for a new job elsewhere seemed grim so Idecided to get an MBA at the University of Michigan and started in Fall2009.

I was fortunate to ave my tuition fully covered by a grant, though Ihad to cover living expenses which I mitigated by completing my MBA in 1.5semesters instead of 2. During my third semester I was offered a positionwith a salary that was over twice what I made prior to getting an MBA. Thisprovided a strong baseline for negotiating future salaries and within 5years have been able to make 3 times what I made in my pre-MBA role.

Money aside, the skills learned from the MBA program has helped me growprofessionally and personally. For those considering starting their ownbusinesses, I still encourage getting an MBA, not only for the skills butfor the network you gain. Also, many programs offer startup incubation
programs with funding and mentorship.

4. Education Helps with Startups

Adam Kirsch | Yorango

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (7)In addition to studying full-time at Cornell University, I am CEO of Yorango, a developer of software forproperty management and leasing. Before Yorango, I cofounded Daily Beat
Media.

In my opinion, the MBA was definitely worth it and highly complementary tomy startup. A formal business training gave me hard skills bolstering myself-teaching, and many of the things I learn in class I can tryimmediately in my business. Johnson, Cornell’s MBA program, was alsohighly beneficial in and of itself. I had access to dozens of subjectmatter experts in my professors, and the school’s accelerator program gaveme credit, capital, and top-notch coaching from experienced entrepreneursand investors to launch my business.

Tuition at Cornell is around $60,000 per year, and I did not have thebenefit of a company sponsoring my education. I had only a small amount ofdebt from my undergraduate education and virtually no other debt, so I feltcomfortable taking on the MBA’s financial burden.

5. Land New Clients

Yvette Best | Best Services Unlimited

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (8)I had started my business before I received my MBA and my business didwell. However, I went back to school and finished my MBA this year atBelhaven University, and my business is better. The education I receivedhelped me work smarter at my company and I received better tax clients.

My tuition was $20K which included my textbooks. My full-time job paid$12K, and I paid the rest.

I believe a young entrepreneur should start their business and pursue theirMBA part-time. The ROI is greater with this combination. They arepursuing their dream as well as investing in lifetime learning that willhelp sustain business longevity.

6. Break Into a New Field

Tyler Brooks | Analytive

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (9)I’m actually an MBA and an entrepreneur. I went back for an MBA after beingfinished with my undergrad for just one year. For me, it was an opportunityto help break into a new field (digital analytics).

The ROI long term is going to be fairly large, although it’s hard toquantify that exactly. However, working in a highly technical andquantitative field, I rely on the MBA a lot. It’s not been so much theskills that I learned, but mainly the credibility it adds during salespitches and meetings.

I paid for the MBA on my own. If you can get an employer to pay for thedegree, you should absolutely do it! As an entrepreneur, it’s hard todetermine if I received a “pay raise”, but it has certainly helped me growmy business.

7. Expand Your Network

Scott Gabrielson | Oliver Cabell

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (10)I am the founder and CEO of a new fashion label focused on end-to-end transparency and challenging the way the industry prices its products.

I also just graduated from the full time MBA program at the University of Oxford. The decision to get an MBA before starting a company was a deliberate one. It allowed me to:

  1. Expand my skill set
  2. Expand my network
  3. Provide a nice Plan B if the startup does not work out as hoped!

8. Gain Clout in Your Workplace

Jesse Till |Chatter BuzzMedia

(Video) Is Business School Worth It? How MBA Programs Are Revamping in 2019 | WSJ

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (11)I actually have an interesting story regarding getting my MBA.I first studied audio engineering and music production. Once I got mybachelor’s, I decided to take on a Master’s degree in Business because Iwanted to know everything behind the music industry (writing contracts,copyright law, etc.).

It was there though that I began fine tuning my marketing and generalbusiness skills. Though I got my MBA on a full scholarship, it not onlyhelped become a fundamentally sound entrepreneur, helping me in my musicalcareer, it actually landed me my current job.

Though the pay raise isn’t there (yet), my intangibles with an MBA gave meclout in the office and having the MBA made me look like a cut above therest of the resumes sent daily to the agency I work for.

In a nutshell, my MBA gave me working knowledge of how businesses work andlanded me a sweet gig at a company I like to work for.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (12)

Reasons to Just Start a Business Instead

1. Avoid Debt

Tasha Mayberry | Social Media 22

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (13)I have great respect for education and think it’s important, but because ofthe high cost of education in our country I truly believe that starting abusiness is better than pursuing your MBA.

I am a perfect example…

I have a BA in Legal Studies – left school with $40k debt. For a few yearsbefore I started my business I could not pay the nearly $1000 a monthpaymentso I foolishly deferred. Now I owe $70k formy loans! ($30k more in accrued interest.)

I started my own web design, marketing and PR firm after I was laid offfrom working as a Paralegal. I planned on going to law school but afterover a year of getting not one decent offer, I had to think about mytransferable skills and a new career path.

I love to write and am very creative and about 8 years ago social media wasreally getting big so I decided on marketing and PR…and I am so happy Idid! I am completely self-taught and use self-discovered strategies that Iwould have never learned in an MBA program or any college.

Related: How to Make Money in College

The best way Ilearned was through following the blogs of marketing pros.Even their books andpaid trainingcourses added up to be amuch smaller investment compared to another degree, and the material was much more actionable.

We are on our way to making $1M a year in revenue and have a team of 6employees. In just a few short years we broke $500k in sales.

So again, I respect education and IFit was more affordable then my answermay differ but getting out there and starting a business with the amazingtools these days we all have at our fingertips, this is the best way.

2. Don’t Get Yourself into Golden Handcuffs

Scott Trench | Bigger Pockets

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (14)So we’ve all seen those studies about how much more money those withgraduate degrees (like MBAs) make over the course of a 40 year career.

But the MBA *only* makes sense if you are planning on having a 40 yearcareer workingto make someone else rich.

Investors and those considering becoming an entrepreneur are, in myopinion, sacrificing nearly a decade of opportunity in pursuing the MBA. Inmost cases, the education will result in a significant financial delay inthe form of lost earnings or mounting debt, and will result in opportunitycost, as the only reasonable option for the vast majority of MBA graduatesis to take a high paying job with long hours at a corporation.

It’s this mentality of setting yourself up for 10 years at a corporate gigthat scares many of us who desire to be entrepreneurs or to truly succeedwhile we’re still relatively young. Think about this – if you get a$100,000 – $200,000 degree from an elite school, the best case scenario formost of those looking to pursue an MBA, you are backed into a mentalcorner.

Every single option you had prior to getting the MBA now makes lesssense except one: work a high paying job with long hours at a large corporation.

3. Learn More By Doing

Julie Ann Wood | E-seedling

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (15)I started my first company,Check + Balances, an accounting system consulting business, when I was 27, and sold it3 years later. I learned more about business in those 3years than any other time in my life.

Learning how to run a business has somany complex situations and problems that can’t really be learned in schoolor during an MBA project.

Here are a 3 reasons why I believe that running abusiness is more valuable than a MBA.

  1. You are ultimately responsible for everything related to thebusiness and in order to be successful you learn ways to exceed expectationsof not only yourself but also your stakeholders, customers and employees.
  2. You learn how important cash flow is to keeping the business aliveand in doing so learn ways to improve your cash flow turn such as invoicingfaster and working with customers to find out when and who is responsiblefor payment.
  3. Every day as an entrepreneur is a learning experience, you neverknow what problems will arise that you will have to deal with so you learnto be flexible and how to solve problems creatively.

4. Free and Low Cost Education is Available

Shaun Walker | HEROfarm

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (16)I’m the 31-year-old creative director/partner at an ad agency here inamazing New Orleans. We understand the dire straits college loan debt can put studentsin. I, for one, would have twice as much debt if I had not received asimple out-of-state waiver.

I recommend jumping into the business world by starting a business, nomatter how small, to get that incredibly valuable real-world experiencethat school can’t teach and you won’t learn any other way.

A fewwebsites/apps that we like and could go a long way in continuing youreducation, some for free, are: Khan Academy, Udemy,Coursera, Skillshare,and Snapguide.

Of course, I’m not advocating the entire abandonment of college, assome are clearlystill worth it. In addition, trade, specialty schools, and other 2-year programsare becoming more valuable, economical, and logical.

5. Results Not Guaranteed

Jessica Oman | Renegade Planner

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (17)I’m an MBA (2009) entrepreneur and I’ve been running my own business planwriting firm, RenegadePlanner.com, since 2010.

(Video) How Anyone Can Easily Make Extra Money Using Side Hustles with Nick Loper | BP Money Podcast 28

First of all, I believe that if someone is truly looking to have a good,secure job in a business field, an MBA is a safe choice. MBAs are marketedas leadership degrees, but they’re actually best for followers, who want toapply their skills towards the greater vision of a larger company. Nothing
wrong with that.

I don’t think an MBA is well-suited for entrepreneurial folk. Real-worldexperience is more valuable – plus, the skills required forentrepreneurship can mostly be learned for free or very cheap – throughplatforms like Udemy, through workshops, conferences, etc.

Tuition for my full-time program was $27,000. I received about $6,000 inscholarships and I paid the rest out of pocket.

Pay raise? Ha.

We graduatedduring the economic downturn, and our own career center staff were tellingus we should take unpaid internships “just to get some experience.”

We wereencouraged to work for $15 an hour or less to “get a foot in the door.”

Wewere told to “wait for opportunities.” As if.

Turns out entrepreneurshipwas the only choice for me.

6. Invest Your Tuition Elsewhere

Jason Savedoff | RVA Advisors

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (18)I faced this decision and started a business, then several others. Neverlooked back… the reasons:

1. Value. I would have sought out a well-regarded (read: expensive)program and taken on something in the realm of $200k in debt. Sure, Iprobably would have increased my salary upon graduation, but instead I usedthe $200k to buy my first rental property. Now, 15 or so years later, it’salmost paid off and equates to a $20k salary increase without having to domuch work at all.

2. Lifestyle. After stints in Investment Banking, Wealth Advisory, REIT’s,etc. I was through with miserable managers. Most folks get an MBA becauseit’s increasingly helpful in corporate America, which, to some degree, tiesthem to that path, and thus, quite possibly, to many more miserable
boss/managers.

I enjoyed working in/with small businesses so much I founded a smallbusiness consulting and brokerage company!

7. Determine Your Own Future

Maimah Karmo | Tigerlily Foundation

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (19)I previously held the assumption that I had to have an MBA inorder to climb the ladder and be successful; so, I began pursuing an MBA.

After being diagnosed with aggressive breast cancer, I had to focus on mytreatment. Everything else became secondary. While in chemotherapy, I foundthat there were several gaps in young adult oncology – education,diagnostics, treatment and survivorship, and I started my non-profit, which
is now nationwide and going global.

I realized through my experiences thatI didn’t need to have an MBA. A lot of very successful entrepreneurs haven’teven finished undergraduate college. I believe that while there is a lot of
value in pursuing a college degree or an MBA, the success factor is drivenby one’s passion and commitment to the vision, not school name or level ofeducation. I have also written a book (Fearless: Awakening to My Life’sPurpose Through Breast Cancer), publish a digital magazine, run asuccessful consulting business, and travel the country, speaking andempowering women.

No MBA needed.

8. Market Saturation

Christopher Charles | Molding Money for Your Family

Unless there is a high probability of tangible benefits, use yourtime and money to start something on the side instead of getting a MBA.

At this point in time I regret getting mine. There’s no real opportunity for advancement with mycompany, and, to date, all of the interest I’ve gotten from other companiesis for the same title I have now (at less pay).

It wasn’t terribly expensivesince I went to a smaller state school — only about $13k and my employer didpay half of it. But I’m still not sure it was worth it. My bosses haven’t even acknowledged verbally that Igraduated and I’m not the type to bring it up. I went back part-time sinceI have all of the usual adult responsibilities including two kids in highschool.

In spite of the time and expense, the market is getting over-saturated withMBAs.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (20)

Side Hustle Nation Weighs In

Finally, I posed the question in the Side Hustle Nation Facebook group to get some insight as well. Here’s what came back…

Robert Farrington | The College Investor

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (21)MBA here – I recommend starting a business.

I got my MBA but my employer paid for it. Is it worth it? If I had to pay for it out of pocket, no. But since it was free – sure, it was worth it.

But I learned a hell of a lot more starting and running my side business than anything taught to me in MBA. And, for reference, my MBA was focused on entrepreneurship, lol.

The most valuable part was the network.

Ellory Wells

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (22)I tend to agree w/ Gary Vaynerchuk when he says that MBAs and degrees in entrepreneurship are the biggest wastes of money. It’s ridiculous to spend $60k + to get an MBA for a $3000 a year pay raise.

(Video) Make $15,000 Per Month — The Ultimate Side Hustles | Investment Joy

And we shouldn’t fool ourselves into thinking it’s about the connections either. You and I met at a conference almost 2 years ago and spent the cost of a single college class (or less).

John Rouda

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (23)I’ve got an MBA and an MS in Software Dev. It helps me get jobs and promotions, but I really didn’t learn that much. I basically got my MBA while I was trying to figure out what I wanted to do… it is helpful for teaching as a side hustle at the local colleges and universities, I guess I’ll get my ROI from that.

I paid for the MBA myself, but I overloaded and did it in 1 year full-time so it wasn’t too bad. The MS was paid for by my employer, so it was free. I will always recommend free school, if for nothing more than the networking.

Candice Marie | Young Yet Wise

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (24)I had been invited to one of my dad’s friend’s dinner parties. Mid-way though stuffing stuffed shells into my mouth, a man to my right asked, “So… Candice, when are you getting your Master’s degree?”

“I don’t plan on getting my master’s degree,” I responded.

He was a little surprised by my response. A sense of shock, or disbelief as if I were a five-year-old telling him that I didn’t believe in Santa Clause.

The only time I thought about getting my master’s was when I graduated and I didn’t know what I would do next. It would of cost me $38,000. I didn’t do it.

I believe that you can learn more by doing. It’s even said that people only remember 5% of what they learn when they’ve learned from lecture.

Jacqui Blazer

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (25)I completed my MBA in management and strategy in 2012. I was self-employed at the time( I still am) and was in a transitional period in my life. I took out 40 K in student loans to complete the program. I chose a 100% online program as that allowed me to continue to work full time while I completed my degree.

The pros: I thoroughly enjoyed the program and I will say that getting my MBA changed everything about how I look at business. I can’t walk into a retail store, restaurant, or any other business without thinking about the supply chain, marketing etc.

The cons:It was only after I completed my degree that I discovered many of the online teachers in the area of information products, digital marketing and passive income. Knowing what I know now, I could’ve spent about $5K on education in very specific areas to accomplish the goals I have now set for myself.

So, in my opinion, is it worth it? If your employer is paying for it? Absolutely yes. If you have to go into further debt to receive the degree? Absolutely not.

In the corporate arena I think the piece of paper of a degree is still valuable, however if you are an entrepreneur like myself, I would strongly consider the specific knowledge that you wish to acquire that you think he will acquire with your MBA and investigate other educational resources that will save you a lot of money. I would be debt free now if not for that additional student loan debt!

Chris Gonzalez

My employer paid for my MBA. After 5 years, I don’t think it was worth it.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (26)Naima

Have an MBA. Paid for it myself, slogged it out for two years to do it while working full time. Got me a promotion and a substantial raise but not sure it would help me start a business.

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (27)Ed Stanfield

We always hear about highly successful entrepreneurs that say the MBA was a waste of time. But, in the corporate world, I wonder if it isn’t required to climb the corporate ladder.

Shawna Newman | SkipBlast

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (28)Mine was a waste of time and money. Sure, it got me a raise when I was working a cubicle job, but I make more now working from home.

My main hustle is making authority niche websites, which is basically just loads of content creation + making the actual sites.

Sally Miller

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (29)I also have an MBA. Paid for it myself but I did the ASU online program so not as expensive as full-time. I enjoyed the program and don’t regret getting my MBA one bit.

But I can’t say it’s helped all that much in either my corporate or solopreneur careers beyond giving a little bit of extra credibility!

Trevor Ewen

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (30)I am planning to get anMBA. This is primarily because I see myself moving into larger business inhopes to take my family overseas in the future. It’s much easier toemigrate with the backing of a larger company, particularly to thedeveloping world. Not to mention the fact that I want to work within largercompanies to reform what I often see as a ‘Toxic Culture.’

At the end of the day, the question is about where you want to arrive.

Your Turn

Do you have an MBA? Is it worth it?

(Video) The Future of the Space Economy - Fresh Consulting

Please feel free to share your thoughts below on whether young professionals should get an MBA or start a business — or both!

Should I Get an MBA or Start a Business? 41 Experts Weigh In - Side Hustle Nation (31)

FAQs

Is MBA worth it in the long run? ›

An MBA is only worth the expense, time, and effort when the graduate plans to work in a business-related field, in management, or as a company founder. An MBA may not be useful for those working in other industries unless they are in management or leadership roles.

Is MBA necessary for successful business? ›

You do not necessarily need an MBA or a university degree to be a successful business owner, but you can always return to school at any point in your career to earn a degree if you choose to.

What are the disadvantages of MBA? ›

Advantages and Disadvantages of an MBA
AdvantagesDisadvantages
Increased job opportunitiesCost of study
Personal and entrepreneurial skill developmentTime commitment
Specialized in the field of interest with management skillsLack of practical and applied learning
High salaryRisk of ROI
1 more row
27 Dec 2021

How do I turn my side hustle into a full-time business? ›

Here are 15 steps to help you turn your side job into a full-time business:
  1. Generate a plan. ...
  2. Know your numbers. ...
  3. Develop your "why" ...
  4. Understand your market and customer base. ...
  5. Start small. ...
  6. Set goals for your business. ...
  7. Keep your business finances organized. ...
  8. Surround yourself with the right people.
24 Mar 2022

Is an MBA worth it at 40? ›

Every stage in life brings advantages and challenges to graduate education. Still, you can be comforted in knowing that there is no age limit for higher learning. In fact, an MBA at 40 could deliver many unique benefits above and beyond those enjoyed by younger students.

Is an MBA still worth it in 2022? ›

An MBA program is only worth the effort, expense, and time when the student plans to pursue a career in management, in a business-related field, or as a startup founder. For those employed in other sectors, unless they are in leadership or management positions, an MBA degree may not be needed.

Why MBA is losing its value? ›

The main reason is that curricula have not kept pace to match the requirements of today's industries. Professor Bones says that MBA programs have hardly changed from 10 or even 20 years ago. Current programs, according to him, don't address the needs of 21st century business.

Does an MBA help you start your own business? ›

While you don't need an MBA degree to open your business, the small investment of time and money pays off in your future success. The statistics on MBA entrepreneurs are compelling. Obtaining an MBA improves your success rate of starting a business by 18%.

Is doing MBA not worth it? ›

An MBA is generally considered a worthy investment for most people with a career in business, however, people pursue this level of education at different points in their careers.

Can MBA change your life? ›

So, whether it's when applying for jobs and promotions or briefing colleagues and clients about your projects, having an MBA will add weight to your perspective and boost your chances of career advancement.

Do people fail out of MBA programs? ›

It's no secret that some advanced degrees don't pay off. But a new report from the Foundation for Research on Equal Opportunity offers some surprising insights—including that 60 percent of M.B.A.s and other business-related master's degrees fail to provide a positive return.

How stressful is an MBA? ›

Earning an MBA is intense, and there will be stressful moments no matter what you do. Making your MBA experience a success depends upon a thoroughly researched understanding of how your program's resources can help you achieve your professional goals.

What is the highest paying side hustle? ›

Here is a list of 17 top-paying side hustle ideas that are categorized based on their hourly wage and earning potential:
  1. Online Tutoring. ...
  2. Personal Training. ...
  3. Managing Social Media and Digital Operations for SMEs. ...
  4. Freelance Graphic Designing. ...
  5. Party Planning. ...
  6. Driving for Uber. ...
  7. Freelancing on Upwork. ...
  8. Photography.

What is the most successful side hustle? ›

What are the most profitable side hustles to make money?
  • A dropshipping business.
  • Selling your own handcrafted products.
  • Creating and selling your own designs.
  • Selling services as a freelancer.
  • Teaching an online course.
  • Selling digital information products.
  • Starting an affiliate marketing business.
27 Sept 2022

How can I make $3000 a month side hustle? ›

Here are my favorite in-demand side hustles — some can earn you up to $3,000 a month — and where to find them:
  1. Selling stock photos. ...
  2. Transcribing audio. ...
  3. Renting out your car. ...
  4. House-sitting, babysitting or pet-sitting. ...
  5. Product testing and research studies. ...
  6. Mystery shopping. ...
  7. Selling unwanted stuff. ...
  8. Junk hauling.
10 Aug 2022

At what age is it best to start MBA? ›

Full-time program students average about 27 years old when starting their MBA programs. This fits in with the three to six years of work experience most graduate students have before starting their MBA. Most full-time U.S. MBA students have an average of five years of work experience.

What age is too late for MBA? ›

Although most incoming MBA classes have an average age in the late 20s, you're never too old to apply to business school. Age is not a criterion considered in the admissions process. If you have the academic and professional experience required, you're old enough to apply for an MBA.

What is the best age to do an MBA? ›

Studies suggest that the best age for pursuing a normal MBA course in India is 25-27, and for an Executive MBA, it is 28-30. However, these are just numbers, and remember that you can do an MBA at any age! You can reach out to MBA degree holders and visit B-schools for additional information.

Is it too late to get an MBA at 30? ›

It is not that difficult to make a compelling case for you to earn your MBA at 30, 40 or 50 years of age. After all, many people have benefited from the impact and versatility of the MBA.

What can I do instead of MBA? ›

  • Master of Financial Management (MFM) ...
  • Master in Management Studies (MMS) ...
  • Master of Business Administration (Retail Management) ...
  • Master in Marketing Management (MMM) ...
  • Master in Risk Management. ...
  • Post Graduate Diploma in Management. ...
  • PGDM in International Business. ...
  • Project Management Professional Certification.
23 Sept 2022

Is 30 years too late for MBA? ›

Yes, doing an MBA at 30 or even after 40 is a feasible option. It is never too late to continue your MBA after 30 or study anything that you are passionate about at any stage of your life.

Is an MBA worth it for entrepreneurs? ›

For entrepreneurs in particular, MBA programs offer access to strong alumni networks in addition to giving these students a space to develop an ethical and efficient framework for leadership that adds intrinsic value to their personal and professional lives.

Which MBA has highest value? ›

Listed below are the top 5 highest paying specializations of MBA:
  • Business Analytics.
  • Information Technology.
  • Finance.
  • Marketing.
  • Economics.
  • Entrepreneurship.
  • Data Analytics.
  • International Business.

How much is an MBA worth in salary? ›

Data from GMAC's Corporate Recruiters Survey shows that MBA graduates in the US see the highest salary, reaching US$115,000.

Is MBA worth it for self employed? ›

Startup Founder

So, if you were thinking of becoming self employed, you should definitely give the MBA a closer look. An MBA will equip you with a set of skills and expertise that will allow you to make better business decisions, and increase the chances of your first venture being a success.

Which MBA is best for startups? ›

Top 10 MBA Programs for Working at a Startup
  • The University of Chicago Booth School of Business. ...
  • IMD Business School. ...
  • Imperial College Business School. ...
  • NYU Stern School of Business, New York University. ...
  • INSEAD - Europe Campus. ...
  • CEIBS China Europe International Business School - Shanghai Campus.

Which MBA is best to start a business? ›

If you're having trouble dreaming up ideas for a new business, one option might be to head to business school for an MBA in entrepreneurship. Getting an MBA in entrepreneurship can help self-starting students turn ideas into reality as they develop skills and a business plan.

Is it better to get job or MBA? ›

The very short answer to this question is 'both'. Both having an MBA and having work experience are both immensely useful things to have on your CV. What you should aim for really depends upon you– what you're good at, and what you'd prefer to do in your career. This advice has some prerequisites.

Is MBA tough to pass? ›

Many potential students ask why MBAs are so difficult to graduate. But they ask the wrong question, the truth being: for the average student, MBAs are quite easy to graduate. But as you'll probably learn during your Master's in Business Administration: your attitude makes up over 50% of your professional success.

Is MBA worth it at 30? ›

30 somethings enroll in MBA programs for the same reasons that their younger counterparts do. They want the experience that a full-time MBA program offers students. They also want to earn more once they do earn their MBA degrees. Finally, most of these students want to belong to an exclusive MBA alumni network.

Does an MBA make you stand out? ›

This credential could show hiring managers that you can use this knowledge to make big-picture decisions and develop valuable solutions to complex business problems. Featuring an MBA on your resume is an effective way to stand out from other candidates.

Is it worth doing MBA after 10 years of experience? ›

If you need to move out of a purely IT role to a IT + Business role then an MBA is good. The same role might happen few years down the lane but an MBA can give you a better perspective and some technical knowledge. Unless you are doing an MBA from top 10 universities the RoI will be more over the long term.

What is the hardest class in an MBA program? ›

Here, in broad strokes, are some of the most difficult classes involved in an MBA program:
  • Accounting & Economics. ...
  • Management Communications. ...
  • Capstone Courses & Practical Projects.

Why most MBA graduates are not getting jobs? ›

But the biggest reason behind the decline in job offers to MBAs is the outdated curriculum. Excluding graduates from top 20 colleges, only 7% of MBA students from Indian business schools got jobs immediately after the completion of the course, an ASSOCHAM report said last year.

How do you survive an MBA life? ›

7 Ways To Survive The First Year Of MBA
  1. More is less: Hide. ...
  2. If you're not networking, you are not working. ...
  3. Birds of the same feather, flock together: ...
  4. There will never be enough time: ...
  5. Help will be given to those who ask for it: ...
  6. Survival of the fittest: ...
  7. You're never too important.
9 Mar 2017

Is there a lot of math in MBA? ›

Although most of your MBA math courses will not require a great deal of mathematical calculations, it is important to understand that you will have to work with numbers and apply mathematical principles such as averages, percentages and ratios throughout your online MBA program.

Are MBA people happy? ›

For the students surveyed, the results pegged the Happiness Index at 5.98 pre-MBA; 7.71 during the MBA program, and 8.53 post-MBA. In other words, there was a clear 25 per cent jump in terms of how happy the students were from the time they enrolled for an MBA program, to completing it.

Is the first year of MBA tough? ›

Life was never so hard as the first year of MBA. Along with the regular classes, there is a tyranny of surprise quizzes, the group assignments and short deadlines. Then there is a task of creating a CV targeting different sectors, getting it reviewed from multiple people, getting some certifications done.

How can I make $1000 a week consistently? ›

How to Make 1000 a Week Online and Offline
  1. Answer Paid Surveys. Companies will pay top dollar to do market research. ...
  2. Start a Blog. One of the ways you can make fast money online is by starting your own blog. ...
  3. Work as a Tutor. What is this? ...
  4. Collect Sign-Up Bonuses. Many sites and apps will pay you by simply registering.

How can I make 330 a day? ›

It's possible to make an extra $300 every single day online.
...
  1. Flip Amazon Deals. ...
  2. Use Creative Commons Videos on YouTube. ...
  3. Sell Digital Products. ...
  4. Sell Physical Products. ...
  5. Resell Stuff Online. ...
  6. Freelance Writing. ...
  7. Join Google AdSense.
2 Jun 2022

How can I make $1000 a week on the side? ›

  1. Take online surveys. If you want to make $1,000 a week, taking online surveys is a mindless way to reach your goal. ...
  2. Earn cash back shopping. ...
  3. Run Facebook and Instagram ads. ...
  4. Become a food delivery driver. ...
  5. Deliver groceries. ...
  6. Share your space. ...
  7. Sell your stuff. ...
  8. Cancel your subscriptions.
3 Aug 2022

How can I make $2000 a month from home? ›

How to Make an Extra $2,000 a Month Working From Home
  1. Freelance Writing. ...
  2. Become a Virtual Assistant. ...
  3. Give Direct Sales a Go. ...
  4. Try One of These Side Hustle Ideas. ...
  5. Become a Freelancer. ...
  6. Get Creative. ...
  7. Start a Blog. ...
  8. Become a Proofreader.
17 Jan 2022

How can I make 5k in a month? ›

How to make $5,000 a month from home (or anywhere)
  1. Freelance your skills. Freelancing is one of the quickest ways to start earning from home. ...
  2. Drop servicing. Drop servicing is like freelancing on steroids. ...
  3. Internet scoping. What is this? ...
  4. Blogging. ...
  5. Virtual assistant. ...
  6. Amazon. ...
  7. Investing. ...
  8. Photography.

How can I make 10k a month? ›

How to Make 10k a Month [10 Proven Ways in 2022]
  1. Here is how you can make 10k a month.
  2. Property Preservation Contractor.
  3. Virtual Assistant.
  4. Blogger.
  5. Social Media Manager.
  6. Sell on Amazon.
  7. Flip Products from Flea Markets.
  8. Start a YouTube Channel.

How can I make 20k a year on the side? ›

4 Side Hustles That Earn $20,000 a Year
  1. Dog walker or pet sitter. Average pet-sitting rates: ...
  2. ESL tutoring online. Average ESL tutor rates: $25 to $50 per hour. ...
  3. Virtual assistant. Average virtual assistant rates: $19 to $20+ per hour. ...
  4. Language translation services. Average language transcription rates:
18 Aug 2021

How can I make $100 a day on the side? ›

How to make $100 a day: 36 creative ways to make money
  1. Take part in research (up to $150/hour) ...
  2. Get paid to take surveys. ...
  3. Get paid to watch videos online. ...
  4. Answer questions for money. ...
  5. Download this app and make money by going online. ...
  6. Get paid to play games online. ...
  7. 7. Make an extra $100 pet sitting. ...
  8. Become a shopper.
4 days ago

› Make Money › Side Hustles ›

Side hustles are a passion of mine. I wouldn't be a millennial millionaire and have achieved financial independence at the age of 30 without making extra mo...
I'm a huge fan of earning more money, and I think everyone should have a side hustle. Side hustling can allow you to earn that little bit of extra money tha...
Side hustles are a fantastic way to make extra cash, learn new skills, and launch a new business. These 92 ideas will get you started.

Does MBA help in long term? ›

It is much more likely that you will achieve long-term success in a career you enjoy and are good at. The MBA gives you a high probability of finding such a career.

Is it worth doing MBA after 10 years of experience? ›

If you need to move out of a purely IT role to a IT + Business role then an MBA is good. The same role might happen few years down the lane but an MBA can give you a better perspective and some technical knowledge. Unless you are doing an MBA from top 10 universities the RoI will be more over the long term.

Is MBA worth after 4 years? ›

MBA After a Long Work Experience

It would add much more value than a regular two year program can if you choose to pursue executive MBA after 4-5 years of experience. There are specialized one year executive MBAs in different fields like supply chain management, digital enterprise management and more.

Is MBA worth it at 30? ›

30 somethings enroll in MBA programs for the same reasons that their younger counterparts do. They want the experience that a full-time MBA program offers students. They also want to earn more once they do earn their MBA degrees. Finally, most of these students want to belong to an exclusive MBA alumni network.

Why MBA is losing its value? ›

The main reason is that curricula have not kept pace to match the requirements of today's industries. Professor Bones says that MBA programs have hardly changed from 10 or even 20 years ago. Current programs, according to him, don't address the needs of 21st century business.

Is an MBA worth it financially? ›

The financial return on investment offered by a typical MBA degree is equally strong, particularly at the world's best business schools. Business school graduates from the Financial Times' top 10 ranked MBAs see an average salary bump of 119% three years after graduation.

Is an MBA worth it for entrepreneurs? ›

For entrepreneurs in particular, MBA programs offer access to strong alumni networks in addition to giving these students a space to develop an ethical and efficient framework for leadership that adds intrinsic value to their personal and professional lives.

What age is too late for MBA? ›

Although most incoming MBA classes have an average age in the late 20s, you're never too old to apply to business school. Age is not a criterion considered in the admissions process. If you have the academic and professional experience required, you're old enough to apply for an MBA.

Is MBA life stressful? ›

Earning an MBA is intense, and there will be stressful moments no matter what you do. Making your MBA experience a success depends upon a thoroughly researched understanding of how your program's resources can help you achieve your professional goals.

What is the starting salary after MBA? ›

Average MBA Salary as per specialization
MBA SpecializationAverage MBA Salary*
MBA FinanceRs 2,00,000 to Rs 14,70,000
MBA Human Resource ManagementRs 4,50,000 to Rs 15,50,000
MBA Information TechnologyRs 10,000 to Rs 6,00,000
MBA Logistics ManagementRs 6,25,000 to Rs 8,50,000
1 more row
29 Oct 2022

Does an MBA actually increase salary? ›

In fact, in 2021, the average starting salary for MBAs was between 22 percent and 40 percent higher than for bachelor graduates. Overall, 71% of corporate recruiters agree that employees with a business school education earn more at their companies.

Is MBA difficult for average students? ›

Many potential students ask why MBAs are so difficult to graduate. But they ask the wrong question, the truth being: for the average student, MBAs are quite easy to graduate. But as you'll probably learn during your Master's in Business Administration: your attitude makes up over 50% of your professional success.

What is the monthly salary of MBA? ›

What is the minimum salary after MBA? The starting salary for fresh graduates per month in India can vary from around Rs. 2,24,000 to Rs. 4,24,000 per annum.

Is it too late for MBA at 40? ›

"There isn't an age at which it's too old to do an MBA, but there is a point at which big name recruiters will stop being very interested in you," Birkinshaw adds.

At what age is it best to start MBA? ›

Full-time program students average about 27 years old when starting their MBA programs. This fits in with the three to six years of work experience most graduate students have before starting their MBA. Most full-time U.S. MBA students have an average of five years of work experience.

What is the best age to do an MBA? ›

Studies suggest that the best age for pursuing a normal MBA course in India is 25-27, and for an Executive MBA, it is 28-30. However, these are just numbers, and remember that you can do an MBA at any age! You can reach out to MBA degree holders and visit B-schools for additional information.

› paulinaguditch › 2020/06/25 ›

Is an MBA worth it in 2021? It's becoming clear that an MBA degree after Covid-19 is a risk that's simply not worth it. Let's step back: The value o...
Are you wondering whether you should go back to business school and whether or not it would make a difference to your career progression, or your ability to bec...
If you are involved in for-profit or non-profit business and are looking for additional education to move your career forward, you may be considering a Master o...

Videos

1. Tree to Box: The Billion Dollar Cardboard Business
(Modern MBA)
2. Positioning Oneself for Excellence & Professionalism in the International Spaces
(Female Lawyers Network)
3. How To Invest w/ David Rubenstein (TIP479)
(We Study Billionaires)
4. Pocket MBA for MSPs
(eBridge Marketing Solutions Inc.)
5. Barbara Corcorans 10 Best Pieces Of Advice On How To Be Successful
(Manna Motivation)
6. Applying in R1 Amid COVID-19
(FortunaAdmissions)
Top Articles
Latest Posts
Article information

Author: Golda Nolan II

Last Updated: 12/12/2022

Views: 5655

Rating: 4.8 / 5 (78 voted)

Reviews: 85% of readers found this page helpful

Author information

Name: Golda Nolan II

Birthday: 1998-05-14

Address: Suite 369 9754 Roberts Pines, West Benitaburgh, NM 69180-7958

Phone: +522993866487

Job: Sales Executive

Hobby: Worldbuilding, Shopping, Quilting, Cooking, Homebrewing, Leather crafting, Pet

Introduction: My name is Golda Nolan II, I am a thoughtful, clever, cute, jolly, brave, powerful, splendid person who loves writing and wants to share my knowledge and understanding with you.