Making Your MBA Investment Pay Off: A Personal Journey
In my lifelong pursuit of education, I have completed three degrees and pursued an incomplete one. My experiences have taught me that the financial success of one's MBA is highly dependent on personal choices and strategies. In this article, I will share my journey and provide insights into how one can make an MBA investment pay off financially.
Early Academic Pursuits
I have attempted four degrees in my life. I successfully achieved three: an MA in English, an MA in Economics, and a PhD in applied mathematics. My fourth attempt, to earn an MA in International Development, proved to be a costly detour. This experience highlights the importance of choosing a degree that aligns with your goals and interests.
Free Education and Early Earnings
The first degree I obtained was free, earned at a prestigious Armenian institution. During my studies, I supplemented my income through freelance translation and teaching, making it a valuable experience both financially and intellectually.
The Failed Attempt and its Consequences
My attempt to obtain an MA in International Development was a costly mistake. This degree now forms half of my student loans, a testament to the financial burden such pursuits can create. However, I do not expect any bailouts or forgiveness; I own my mistakes and continue to work to pay off my student loans.
Valuable Skills and a Lucrative Job
The MA in Economics I pursued was more successful financially. I obtained valuable technical skills that were both marketable and useful post-graduation. A job immediately after completing this program not only covers my student loan payments but also ensures a financially secure life, illustrating the tangible benefits of acquiring the right skills.
Free PhD and Career Growth
My PhD, achieved through employer-provided educational assistance, was free. This degree brought about a substantial salary increase, nearly tripling my earnings. Beyond the financial gain, the non-pecuniary benefits are immense, as it has opened up various career opportunities and personal growth.
Strategies for Success
For students seeking educational and career advice, I always emphasize the importance of making their education worthwhile. A degree, especially an MBA, alone does not guarantee financial success. The key lies in acquiring skills and knowledge that are both marketable and productive.
Educational and Career Advice
I encourage students to start thinking about their career trajectory early on. This involves research on the labor market, job postings, and required skills. Utilizing university resources such as career counseling, workshops, and networking opportunities can significantly enhance one's employability. In my case, this strategy has proven to be exceptionally rewarding, both financially and personally. The cost and effort have been well worth it, despite a costly mistake earlier in my academic journey.
Conclusion
The financial success of an MBA is not an inherent outcome of the degree itself but a result of strategic planning and hard work. By acquiring the right skills and making informed career choices, one can significantly increase their chances of a rewarding financial payoff from their MBA investment.