2nd MBA: What is it and should you get one?
Assuming you have read our blog on whether MBA Is a good investment, it is time to figure out whether a double MBA is a prudent investment.
Read on to clear the air regarding what a 2nd MBA is, how it can help and what you can do about it.
What is it?
A 2nd MBA is just that. If you are already an MBA graduate and want to pursue another one- it’s possible to do that.
But why do it again?
We understand the confusion. But it can be helpful when-
- You’re aiming for a better school and exposure this time. For ex- if your earlier experience didn’t help you land as great a career as you thought it would.
- You’re moving to another country and wish to do an MBA from a college there, hoping to better your network thereby increasing your employment opportunities. And then you’ll be able to settle in, easily in that country.
- You want to make a career switch. Whether you’re looking to start your own business or switch industries, a 2nd MBA can help you accomplish that.
- To boost your income- A 2nd MBA from a good college can definitely help you leverage yourself in the job market.
Now if you’re wondering whether or not to pursue another MBA, we prepared a list of questions you could ask yourself to help you arrive at that decision-
- Are you willing to go through it all again?
Double MBAs mean double investment. You will have to give a lot of time, effort, and financial investment. Make sure to check your motivation levels before making the leap. Are you ready to devote a complete year or more to sticking it out? Most people lose touch with academia after graduating or having been in the job market for years. And going back to the classes and doing homework and that grind can be very difficult. However, if you’re driven enough, no obstacle is big enough to stop you.
- Are you ready to be out of the job market for the time being?
Leaving a job will result in a significant reduction in recurring cash flows and hence financial instability. If you have dependents or EMIs to pay out, you need to do the Maths before deciding to invest again in your personal upskilling.
- Good old work experience
If you’re a fresher as far as your work experience is considered then please consider other options. A minimum of 5 years of work experience is a pre-requisite for doing it all over again.
- Be clear with the ‘Why’.
Like most other things in life, it is necessary to be sure of why you are doing what you are doing. You should be able to explain the reason behind this decision in your essays. What is it that you want to gain out of this MBA? Ad coms, too, will need a great deal of convincing behind your decision so please be ready to articulate how this is going to augment your career and skill set.
Real-life examples of people who achieved significant career advancement after completing a 2nd MBA.
The Final Note-
The choice of doing a 2nd MBA is entirely yours. Career Advancement, Personal Development, Networking, Improved Job Prospects, specializations in a domain, geography change, etc. are just a few of the umpteen reasons, which influence professionals to take up a second MBA. No two professionals are the same and neither are their motivations. The right reasons and the right fit of mind can make this a huge opportunity for you to correct your past wrongs and overcome career stagnation.
Reach out to us at CrackAdmission and discuss with our experts on whether a second MBA is the right professional decision for you.