Having been admitted to the SELF Program, you have already shown some interest in business and have probably considered, at least at some point, the possibility of getting an MBA. Being the informed students that you are, you've probably also heard the two competing philosophies about when to go to business school: (1) straight out of undergraduate so your study habits are fresh or (2) wait until you've gained some experience in the "real-world" before going back to earn an MBA. I weighed these options carefully, considering the pros and cons of each, and ultimately felt each presented a certain amount of risk. If I went straight through, I would stay in "study-mode", but how could I possibly compete with other students who have already embarked on their careers and have a wealth of experience to draw from? But if I waited until after a few years of work, would I be too used to the comfortable lifestyle and a steady paycheck to give it all up and voluntarily commit myself to more studying and tests? So I opted for option three: deferred MBA admission. This route seemed to eliminate the problems I just mentioned by giving me a few years of experience AND "forcing" me to go back to school within a defined timeframe. So since it appeared to be the best of both worlds, I went for it was was lucky enough to be accepted. A word of caution, since the type of program I just described seems enticing to many, expect a competitive application process.
From my perspective at the time, I landed what seemed to be an option without any drawbacks. But how's the view now that I'm a year out of school? Well I'm still thrilled to have the opportunity, but I've now recognized that there are certainly still risks and disadvantages to deferred MBA programs. Most importantly, you are still expected to find employment for the period after undergraduate but before B-School matriculation and many employers probably aren't thrilled to invest resources into an employee who will be leaving them in just two years. And even after convincing somebody to hire you, the early career path and goals you thought you would have in school may change on you once you get into the "real-world" (see last weeks entry). In that case, two years may no longer seem like the right time to get an MBA for your particular situation, but you're now constrained because of your commitment. These drawbacks may be amplified if you find yourself hired by a company you love and could see yourself working for long-term. But there are also many advantages, in addition to the ones that seemed clear during the application process, that I have now realized. First, if you find yourself with a company you don't see yourself with for the long-term, the two-year point presents an easy stepping off point. But more importantly, if you find yourself in a situation where you do not like the industry that you are in, the MBA admission serves as a convenient "escape hatch". Switching industries and careers is not an easy task, so the value of this back-up plan should not be underestimated.
So having said all that, what advice would I give someone who asked me "when's the best time to get an MBA?" After providing them them with the appropriate disclaimers, I would say from my perspective I certainly recommend getting some type of "real-world" experience before going into business school. That doesn't mean I recommend a deferred program, but having now had some working experience, I do not think I would be able to gain nearly as much from a business program if I went without having ever worked. But that doesn't necessarily preclude going straight into B-School after undergraduate either, maybe you get your working experience through internships, part-time jobs or co-op programs.
So since options one and two are still on the table, and I've poked some holes in the previously unflawed option three, the only real advice I can leave you with is that the option you choose needs to be right for you. And since everyone has very different experiences and aspirations, there isn't a "good" or "bad" option.
So since I've probably left you right back at square one, let me recommend a fine dining establishment for you to take these confused ramblings to mull over: PepperJax. Yes, it may not be one-of-a-kind or the destination of the Yelp crowd, but this wonderful chain restaurant makes the best Phillies I've haver wrapped my hands around.
Until next week,
Greg