As a panelist at a recent Forté Forum event, Tara Whitehead told the audience of 20-something young women, “My MBA completely changed my life and my career path.” Whitehead is VP of Communications Sector, Global Industries, EDS, having earned her MBA at Goizueta Business School at Emory University in 1993. If any member of the audience had come with any doubts about what the value of an MBA truly was, she left completely convinced that it was the most sensible career move a woman could make.
What is the true value of an MBA degree?
Of course one can figure out its economic value by adding lost opportunity costs and tuition, room and board for two years and subtracting that total from the post-MBA salary over the projected career horizon. But that dollar figure doesn’t begin to capture the value of the degree in terms of quality of life and career. Panelists and attendees at this year’s Forté Forums explored some of the many ways that the MBA adds value.
It Clarifies Your Goals
Working in marketing and PR at the Boston Chamber of Commerce back in 1990, Whitehead liked her job, but didn’t see a whole lot of places to go from there. “Some people had worked in the same jobs for 20 years,” she said, illustrating the lack of upward mobility. “I didn’t want to do that, and I knew I would eventually go back to school, but I wanted to go back at the right time and with the right goal.”
The search for the right goal is what drew many young women to the Forté Forums, held throughout the United States this year. The deliberate search for career direction is a big motivator. For instance, it was during her junior year that Rachel Bidegain, a biology major, realized she didn’t want to do research. “I decided to pick up a business minor,” she said, “so I’d have something to fall back on.”
It was finally through Forté, though, that she realized business wasn’t just a fall-back. “Forté opened my eyes up to see how valuable the MBA is. Biotech is huge right now, and with my background in biology, I’ll have a real advantage. I didn’t realize it before.” Bidegain is planning on going into marketing for a bio-tech firm and then returning to graduate school after getting three to five years’ experience under her belt. “I’d love to be the CEO of a pharmaceutical company,” she said.
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