Those with a bachelor’s of science in business administration are eager to get to work, knowing that a career in finance can set them up for life – or so they think at this time in their lives. Actually, a career in finance can take you to an enviable level within your industry but that comes much later most times and after a good deal of time is spent understanding the mechanics of the world of finance – the real world that is, not the academic world. This leads us to the question as to whether or not an MBA can advance your career in finance and if so, how? There are two schools of thought.
Going Straight through to Graduate Work upon Completion of Your B.S. Degree
Some people say that it is best to go straight from your B.S. in business admin to your graduate work. Their reasons are multiple but the predominant logic is because you are fresh out of school, have a fresh bit of knowledge under your belt and are young enough to pursue higher learning without the encumbrance in most cases of a family that often comes after graduation. There is some merit to this thinking but would an online MBA degree better suit your needs later in life?
Gaining Practical Knowledge and Experience before Going to Grad School
The second school of thought, an opposing view, has it that the best thing you can do for yourself is to get your proverbial feet wet in the finance industry prior to grad school. This makes a great deal of sense on several levels. First of all, there is the reality that few people stay in their entry level field for the rest of their lives. When fresh out of school you take the first job (most of the time) that is offered to you and it may be something you hate. When enrolling in online MBA programs while you are working you will, by then, have a pretty good idea which part of finance you wish to work in for the rest of your life. Do you want to be an investment banker or perhaps a financial advisor to a large corporation? With an MBA you can do both of those things.
There Is Merit in Both – Which Is Right for You?
However, if you don’t work for a while after college you may never know just how much you love or hate something about your job. This is why you should work a bit, study online while being employed and if you are lucky, your boss just might foot the cost of your education going forward. Many companies do just that as part of a benefits program. There is merit to both schools of thought but perhaps the one that makes the most sense is the second option. It does make much, much more sense to study for your MBA after you have worked in the industry for any length of time. You have a good solid understanding of the world of finance and an even better idea of where you’d like to go from there.
Don’t waste time and money on something you may never use. Wait until you know you are passionate about the world of finance and then you will know this is the right career for you.