How to Determine if Business School Is Right for You?
Updated | Bianca Medina
Is Business School Right for Me?
Business schools educate individuals in courses and programs related to business, management, economics, and finance. Receiving a Masters in Business Administration (MBA) can be a great way for veterans to prepare themselves for a career in diverse career fields. An MBA program helps veterans learn a variety of different trades as well as showcase their commitment to the functions of a business. Before choosing to pursue this program, list out the potential benefits you are looking for and weigh out what you want from a future career.
Benefits of Business School
Business school can have a number of benefits both expected and unexpected. These benefits can support you in your future career as well as give you the knowledge, skills, and abilities to succeed in a future profession. Here are a few benefits you can expect from an MBA program:
Business school will connect you with many professionals across different industries as well as fellow students and professors. This will greatly expand your network beyond military personnel and into the civilian business world.
There are services at these schools that can assist in your future career. These sources help students update resumes, narrow down their options, prepare for interviews, as well as host job fairs. In addition, many schools offer clubs for veterans that allows members to receive advise from others as well as network with other veterans.
Many business schools offer financial aid packages or scholarships to veterans. The G.I. Bill and Yellow Ribbon program are also possible funding sources. Each school is different, so be sure to look at what your school has to provide.
Many companies like to hire veterans since they are known to be disciplined and hard-working. Add an MBA and this makes you desirable for many industries. These job opportunities can also come with a higher salary. According to the Graduate Management Admission Council, it has been found that the median base starting salary is $115,000.
Knowledge and Skills
Going to business school can teach you certain skills and knowledge that specialize in different aspects of the business world. You also have the experience you gained from the military such as leadership, critical thinking, analysis, and communication. All of this is easily transferable across multiple roles in the business field.
Experiences Outside of a Business School
Although there are many benefits of going to a business school, it also depends on what career path you want to follow. If you plan to go the entrepreneur route, business school may not be your best option. Here are a few experiences you can gain without pursuing an MBA:
If you have a business in mind then having a startup can teach you the factors that make a successful business. These factors can include start-up costs, marketing, location, etc. All of this will give you hands-on experience that cannot be learned in a classroom.
If you’re unsatisfied with a 9-to-5 career and want more than the status quo, entrepreneurship may be right for you. This route allows you to take risks in achieving goals as well as manage high stake projects.
Building a Product
Creating a product is difficult and is all done through trial and error. Yet, the critical thinking you gained from the military will help you in building your product by recognizing problems and identifying solutions.
Your Own Boss
Throughout your military service, it was engrained in you to respect authority. Although there’s nothing wrong with that, you may be looking to be your own boss. In your own startup you get to make all of the important decisions and have complete control of your business.
While in the service you learned how to use creativity and critical thinking to solve problems and at times these ideas may have seemed unconventional. However, ideas like those are perfect for the entrepreneurship field since you will continuously have to face new challenges that require this type of thinking.