Business school – is it worth it?

Higher education in general is a hot topic of conversation these days. Undergrad is extraordinarily expensive, and Masters’ Degrees are even more so. Between your late teens and twenties, you could easily spend $300,000 on education. Since I started school in August, I have been frequently asked if business school is worth it to find your dream job, and my answer is always the same: it kind of depends.   

As a working HR professional, this was actually a really difficult decision for me. Getting an MBA won't guarantee that I immediately earn a higher salary. It doesn't come with the promise of a promotion. But it will put me on an even playing field with my colleagues and bosses who already have Master’s Degrees. It will help me move up within the organization faster. And most importantly to me, I've earned additional respect from my more senior colleagues and mentors.

For me, it is worth it. I was feeling less and less challenged in my current role, and starting graduate school has stretched my thinking and forced me to be a better employee. My company is also incredibly generous, and is compensating me for my full tuition. There are 2 scenarios in which I would say go for it, no questions asked: 1) Someone else (i.e., your company, a scholarship, etc.) is footing the bill, or 2) the field you are pursuing requires it. Outside of that, my opinion changes dramatically. I am not convinced graduate school is worth the tremendous cost. Don't get me wrong, there are fantastic benefits both personally and professionally, and I’m sure many would disagree with my opinion, but for me, it wouldn’t have been something I would’ve considered if I were paying out of pocket.

I wrote a really long, in-depth series on my decision to apply to graduate school and the steps involved on my personal blog, which I'd encourage you to check out if you are at all considering going back to school, especially a part-time program. School is not easy. I go to class 2 nights a week, I spend at least 2 more nights a week or weekend days doing schoolwork and team projects. I work 55+ hours a week. I try to play tennis, I'm (foolishly) training for a half-marathon, and somewhere in there I travel for work and maintain some semblance of a social life. It’s not for everyone. I'm not still convinced it's for me.

But the pros – oh, the pros of business school. I've built relationships in the last 8 months that I am confident will last me forever. I genuinely look forward to class each night because of the value and insight I know I will glean from the course content. And that even applies to my accounting class, which I never thought I'd say.

Business school, law school, a Master’s in whatever else… these programs are not for everyone and that is perfectly okay. In fact, that is more than okay. If you'd asked me 5 years ago if this was the path I'd be headed down, I'd have said HELL FREAKING NO, over my dead body. I guess even the best laid plans change. What I've learned is that you can't push yourself into something you aren't passionate about. My passion lies with my dream job, and getting an MBA is going to enhance my capabilities and help me become even better at doing what I love.

Have you thought about business school, or pursuing some other masters program to find your dream job? What are your thoughts, personally and professionally? I'd love to chat more about it – you can reach me on Twitter @katiehamilton or using the hashtag #bSMARTbschool