You’re always up for a challenge, right? You look forward to the challenges of owning a business, running a business, or just doing whatever you can to make someone else’s business succeed. Pursuing an MBA is a challenge all its own.
What are your concerns about getting an MBA?
Anyone thinking of pursuing an MBA has genuine worries. From wondering, “How long does it take to get an MBA?” to “Is getting an MBA hard?” to “Will I be able to retain and understand the exhaustive list of MBA subjects?” to work/life/school balance.
The concerns and challenges are real. For those who have been in the workplace since receiving their undergraduate degrees, transitioning back to school offers a big change.
According to Fortune, one key to managing these challenges is finding the right balance between personal, professional, and academic areas of your life, and ensuring you're going back to school for the right reasons. If you plan to add school on top of an already busy schedule, you need to seriously consider how an MBA fits in. Part-time, online, and executive MBA programs are often available to those students wishing to continue working full-time while pursuing their degrees.1
“It’s hard to have kids and work and go to school. My advice to those considering the Iowa MBA is that you really need to be okay with some parts of your life in chaos."
An MBA program comes with many challenges and also many opportunities. So is it possible to balance both?
Busy nights and weekends, sacrificing time with family, academic demands, and financial hardships are legitimate challenges. But the benefits of an MBA are just as real. For many, the answer to “Why should I get an MBA?” can be found in salary increases, signing bonuses, an expanded network, and the increased possibility of promotion.
Is getting an MBA stressful?
Mental health is in the headlines and MBA students are not immune. Surviving the stresses of the classroom, work, and life is a challenge for every student. Thankfully, business schools are taking notice.
According to Transforming Education.org2 1 in 5 college students say they feel stressed all or most of the time.
Top MBA programs have reacted by offering initiatives focused on strategies and programming to improve students' emotional and mental wellness. Students are also encouraged to engage in mindfulness, to talk to mental health professionals, and to simply speak with their peers. Awareness, reflection, education, and support of mental and emotional needs all help build the emotional resilience that helps drive student success.
Which MBA class is hardest?
Mental health aside, incoming students often wonder about the hardest MBA courses. Unfortunately, there is no common consensus, and the answer to the question "how difficult is getting an mba?" often comes down your educational background.
For some, the quantitative courses in an MBA program are the most difficult. These “hard skills” classes include statistics, finance, economics, and accounting. Students with strong mathematical, technical, or analytic backgrounds may find these less difficult than their peers.
For others, the "soft skills" are harder because they can't be mastered simply by opening a book. These include things like integrity, creativity, effective communication, open-mindedness, teamwork, problem solving, critical thinking, and empathy.
Benefits of an MBA degree to a company
- What are MBA advantages and disadvantages?
- What are the biggest challenges of an MBA?
- What skills does an MBA give you?
In the end, is getting an MBA worth it?
According to a report in 2022 from the National Association of Colleges and Employers3, people fresh out of an MBA program made a starting salary of approximately $89,542. Students who had just graduated with a bachelor’s degree in business administration had a starting salary of approximately $66,578, a difference of over $20k.
Ultimately, deciding the worth of an MBA is only for you to answer. Based on your circumstances, the biggest challenge may be the MBA workload. Or it may be your ability to balance your studies with your family or your job.
$ 66,578
NACE Survey, 2024
$ 89,524
NACE survey 2024
“My education was ultimately an investment in myself—the one investment I’m always confident in.”
Getting your MBA is exciting and can pay huge dividends, but will it be a challenge that requires too much sacrifice? Talking to your employer and your family about ways they can support your journey is an important first step. You can share the Iowa MBA Employer Guide to help start the conversation with your supervisor.
Interested in learning more about an Iowa MBA?
Related articles
Still have questions?
Q: What skills are most important to succeed in an MBA program?
A: To thrive in an MBA program, focus on developing these key skills:
- Analytical skills: Ability to interpret data and make informed decisions.
- Leadership: Inspiring and managing teams effectively.
- Time management: Balancing coursework, projects, and personal commitments.
- Networking: Building relationships with peers and industry professionals.
- Communication: Articulating ideas clearly in written and spoken form.
Q: How can I manage my time effectively during my MBA?
A: Effective time management in an MBA program can be achieved through:
- Prioritization: Identify urgent tasks and focus on high-impact activities.
- Scheduling: Use planners or digital tools to organize your week.
- Setting deadlines: Break projects into smaller tasks with specific due dates.
- Delegation: Collaborate with classmates to share workloads on group projects.
- Self-care: Ensure you allocate time for rest and personal activities.
Hear from a real Iowa MBA student about how he made it work.
Q: What support resources are available for MBA students?
A: MBA programs typically offer various support resources, including:
- Academic advising: Guidance on course selection and career paths.
- Tutoring services: Help with challenging subjects or concepts.
- Career services: Resume building, interview preparation, and job placement. The Iowa MBA Career Services team has a wealth of resources for MBA students.
- Mental health resources: Counseling and support groups for stress management.
- Networking events: Opportunities to connect with alumni and industry leaders.
Q: What are common misconceptions about MBA programs?
A: Some common misconceptions about MBA programs include:
- All MBAs guarantee high salaries: Earnings vary widely based on industry and location.
- MBAs are only for those in business: Diverse backgrounds enrich discussions and learning. The Tippie College of Business also offers joint dual degree programs with areas like law, communications, and healthcare.
- It's just about theory: Programs often emphasize practical, real-world applications.
- You can do it alone: Collaboration is key, and peer support is essential.
- Online MBAs are inferior: Many reputable schools offer accredited online programs.
Q: How can I leverage my MBA for career advancement?
A: To leverage your MBA for career advancement, consider these strategies:
- Networking: Attend industry events and connect with alumni.
- Internships: Gain practical experience in your field of interest.
- Skill development: Focus on acquiring skills that are in demand in your industry.
- Stay informed: Keep up with industry trends and challenges to stay relevant.
- Seek mentorship: Find a mentor in your desired field for guidance and advice.
Q: What types of MBA specializations are available?
A: MBA programs offer various specializations to cater to different career goals. The Iowa MBA offers several concentrations including:
- Finance: Focus on investment, banking, and financial management.
- Marketing: Learn about consumer behavior and marketing strategies.
- AI & Technology Management: Study new technologies and stay ahead of what’s new.
- Business Analytics: Develop skills to interpret data into actionable strategies.
- Leadership: Focus on workforce management and building teams.
Q: How does an MBA impact my earning potential?
A: An MBA can significantly impact your earning potential through:
- Higher starting salaries: Graduates often earn more than those with only an undergraduate degree.
- Promotion opportunities: An MBA can qualify you for leadership roles.
- Industry shift: Transitioning to higher-paying industries is more feasible with an MBA.
- Networking access: Connections made during an MBA can lead to lucrative opportunities.
- Skill enhancement: Expanded knowledge can make you a more valuable employee.
Q: What are the best ways to prepare for MBA interviews?
A: To prepare for MBA interviews effectively, focus on these strategies:
- Research the program: Understand its culture, values, and specializations.
- Practice common questions: Prepare answers for typical interview questions.
- Showcase your experiences: Use specific examples to demonstrate your skills and achievements.
- Ask insightful questions: Prepare questions that show your interest and engagement.
- Dress appropriately: Present yourself professionally to create a positive first impression.
Sources
- Fortune. “Is getting an MBA hard? What to consider before you apply.” October 2024.
- Transforming Education.org. “Student Stress Statistics 2024.” September 2024.
- National Association of Colleges and Employers. “Salary Survey.” Summer 2024.