“Is it worth it?”
We ask ourselves this question in nearly everything we do. Is the price tag on the new Corvette worth the flash and speed? Will the picture on a new TV look noticeably better than the picture on my existing TV? Will the increase in salary be enough to justify the extra work and responsibilities associated with a promotion?
Return on Investment (ROI) is at the core of many of our choices and was undoubtedly part of your decision when evaluating whether to pursue your Master of Business Administration (MBA) degree.
The ROI of an MBA is so important that a simple Google search will reply with countless articles, studies, testimonials, and even regrets discussing the balance between the cost of obtaining the advanced degree compared to the career benefits a graduate can expect to receive.
After all, the average tuition cost of an MBA, depending on who you ask, is around $65,000. The highest tier schools attach more than $140,000 in tuition for their services, and when you include the opportunity, housing, insurance, and other associated costs, it is well understood that even a modestly priced MBA is well over $100,000 in totality.
So, is it worth it?
In an emphatic word, “Yes!”
In more words, “You have to make it worth it.”
A second look at all “the ROI of an MBA” studies sees the focus primarily on school selection, which is essentially a front-end analysis. Recommendations urge prospective students to determine the career path they wish to take, analyze realistic income levels of such a route, and align those career and salary goals with the MBA program that will best help achieve those objectives.
Additionally, utilization of an alumni network is recommended as it can also play a considerable role in your career advancement.
All the aforementioned suggestions are incredibly important and should be taken with the utmost sincerity and thoroughness.
Unfortunately, there is very little information on what to do after you graduate that is different from what you had done before you graduated. How will you harness your new wealth of academic knowledge so that it produces the greatest return on your investment?
Getting a guide dog was like getting an MBA for me, as it opened up a new world of opportunity that was previously unavailable. Living and working completely blind, I had a relatively slow ascent path in my career until I gathered my single greatest tool available (a guide dog) and learned how to properly work with him.
But simply possessing tools and knowledge is not the same as using such information effectively. To make your MBA have true value, and realize maximum return in the shortest amount of time possible, I offer four tips, and will use traveling to the bank with a guide dog to describe metaphorically how these suggestions can work for you:
(1) Always assume the mentality that you are a leader, even if you aren’t one yet
I am the leader, even though quite honestly, I don’t always feel that way. In fact, I almost never feel that way. Not being able to see makes it difficult for even me, after all these years, to unquestionably believe I am the leader. To my dog, however, I am a leader, and regardless of how I feel, the first step in getting to the bank is getting my head in the right place: I am the leader and I will lead us to our destination.
(2) Observe the energy of your teammates and, if necessary, refocus their attention
My guide dog and I will be working in a team, so I must also understand his frame of mind before we embark on our journey. Is he tired? Wound up? Hungry? Is he more concerned with his Kong than he is with me? Understanding his mental position and redirecting it towards the task at hand dramatically increases our odds of success.
(3) Clearly identify where you want to go and select the route that has the fewest obstacles
If I don’t know where the bank is located, there is very little chance I will find it. Walking aimlessly through my town (or through my career) puts me in about the worst position possible to succeed. Thus, I verify that where I think the bank is located, is actually where it is located. I establish my current position accurately, because if the first step is in the wrong direction, my timeline for success just got substantially longer. Lastly, I plan my route out, keeping in mind what I know will be encountered, and planning a contingency plan for the unknown challenges.
(4) Don’t always believe what you see; use all your senses and instinct to react quickly to unexpected circumstances
As we are traveling, I don’t believe what I see. Easy for someone blind to say, but what I really mean is I don’t assume what is there will always be there. Sidewalks end, cars become electrified and silent, other people (and dogs) out on their own journeys attempt to stop me from completing mine. Knowing I will encounter the unknown, and planning ahead for possible alternate routes, allows me to react quickly and lessens the impact the unexpected has on the odds of our overall success.
Remember, you are the leader and you can motivate others to join you, so long as you clearly know where you want to go, how to get there, and are ready for any challenges that come upon you as you travel to your destination.
Good luck!
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