Friday, April 23, 2010

What does an MBA mean?

By now, most applicants would know which schools have accepted or dinged them. For those who have been accepted, congratulations - for those that were dinged all round, don't give up hope, there's always this year's applications coming about.

By and large, most people would do an MBA to further their career. Some have aspirations to become a manager, some want to get into management consulting, and others dream of being a baller in Private Equity/Venture Capital or a Hedge Fund. There are a select few who believe that doing an MBA will transform them into entrepreneurs.

Well, that's not what an MBA is about. It's not about turning you into a PE/VC/HF/Investment Banking baller making the benjamins. Nor is it about turning you into a jet setting high flying management consultant. It however, is about teaching you the basics of management, but it's not going to magically make you into Manager of the Year...

An MBA is about wealth creation, and there's no better wealth creation than entrepreneurship. Many people say, "Hell yeah, I'm a risk taker, I'm cutting edge, that's why I'm going into finance/etc." Well, I'm sorry, you're not. You're just another wage earner, though a high wage earner, who doesn't have the guts to go out there and start something on your own. You're somebody who's doing the MBA to get a more "secure" future, hedging your risks.

To me, an MBA isn't about going into finance, or management consulting (you've missed the real money making PE/VC/HF/MC/IB boat, it's gone, gone without you). It's not about becoming another mid-level manager lost in a billion dollar company. What's the point? You can probably do that without an MBA. For me, an MBA is about learning management, not to manage somebody else's company, but to start and manage my own company...

No comments: