So how do I feel when I see non-MBA's in Consulting? Do I regret spending the time and money on my MBA?

Tbh…It makes me MAD…..

to think that I spent ALL that money on my MBA and more if you add the opportunity cost of not working 1 year in the U.S.

Let me give you a quick background.

 

I started working in Big 4 Audit in 2000 and became a CA in 2004. So I didn’t take the typical path of doing an MBA right after I finished undergrad. as many of my peers did. I did take the GMAT and had a pretty good score (770), so I thought I’d maybe do the MBA later when I had more savings.

 

I worked for another 5 years after my CA in a job that had international projects. So I was basically living out of a suitcase in my 20s and having the best time ever. But the thought of doing an MBA kept nagging at me. You know when you want to do something that’s been on your list for a while and life gets in the way? 

 

So, I applied to 1 school – yes – just ONE and got in! 

 

I just wanted to change my career and my life and I was really bored with my job at the time. Also, I see my career and life as a holistic learning experience. The thought of doing 1 thing forever is suffocating for me. So I looked at B-school as an opportunity to switch to a new career and add to my overall skills as a professional.

 

It helped me break into Big-4 consulting – first in India and then in the U.S., where I was truly playing in the big leagues (by my standards!). I joined Consulting thinking it would be a piece of cake for me considering I had more than 8 years of work experience before my MBA, in client-facing projects.

 

But I soon realized that Consulting needs a completely different skill-set. And it took me a while to understand the culture and build the skill set that would help me excel in this space. 

 

During my 10-year management Consulting career I have reported to people who had no MBA and were less “qualified” than me. But these are the people who have been in Consulting forever. They joined as Analysts when they were in their early 20s and knew the culture of the firm and have grown up building their network within the firm. 

They know which resources to leverage for slides, which people to contact for advice, which clients and projects are less crazy etc. etc.

 

As an external hire (i.e. someone with prior experience) joining Consulting, you have a tremendous learning curve. You are essentially covering in a few months, what non-MBAs who’ve “grown-up” in the firm have gradually learned over years. I speak about it more in my free PDF on Why do most new hires FAIL in Management Consulting? Check out my profile to get it.

 

 

I was averse to networking while I was in B-School and I’m a true introvert. I’ve shared in many posts that my Myers Briggs personality type is INFJ which I’m certain is the LEAST skilled in networking. 

 

And yet, I somehow have a really solid network. One thing I will tell you is that your batchmates from B-school will really look out for you. They will be open to helping you or connecting you with their network to get you the help or answers you need.

 

I recently connected with a batchmate who I had never really spoken to in B-school, after 10 years of my MBA! These are connections for life. 

 

 

 

Yes – B-school is a lot of parties and a lot of fun – and if you read the case studies and listen to the speakers they bring in to coach you, it’s a lot of learning as well. 

 

While I don’t claim that I use ALL the info that was doled out in that 1-year, I do use a ton of skills that I honed as part of the learning experience during my MBA. Some of them are:

 

·      Negotiation

·      Public speaking

·      Presentation

·      Big-picture thinking

·      Problem-solving

·      Team work

·      Leadership

 

I can safely say that I make more money today because I invested the time and fees to do my MBA 10 years ago.

So, are you thinking of getting an MBA, or are you already past that milestone? What's driving you decision? Write in the comments below or email me at punya@byondgood.com

P.S: Enjoyed this? Here are a few ways you can get more:

 

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Punya is a former management consultant with 15 years of experience at 2 Big4 firms, serving top Fortune500 clients. She has lived and worked in 6 countries and changed 3 careers working across several industries. Punya is passionate about coaching new and aspiring Consultants to succeed in Management Consulting.