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From Mark Ford, founder, Palm Beach Research Group: Many employees assume an MBA or other advanced degree will be “an important investment in the future.” That’s a sound bite.
If the company you’re working for now is healthy and profit-driven, its key executives don’t care about what school you went to or what degrees you have. They care about what you can do to improve the bottom line.
But if they DO care about your academic qualifications—if they actually require an MBA for advancement—that tells you something very important: Someone at the top is making stupid decisions. Time to get out.
I can tell you this—you don’t need an MBA to become wealthy. I’m not saying you wouldn’t learn anything useful along the way. You would. But you don’t need the degree.
If you want a graduate degree from Wharton or Harvard because you really, secretly, in your heart of hearts are driven not by the desire to accumulate wealth, but by the need to accumulate self-esteem, go for it! There’s no shame in wanting self-esteem more than wealth.
(What you’ll find is that the hole you’re trying to fill will never get filled with degrees and pedigrees. But it can’t be filled with wealth, either.)
Ultimately, personal satisfaction comes from working well and hard at something you care about. You can do that before, after, and during the time you pursue financial and/or prestige goals.
So I encourage you to move as quickly as you can down one of the two roads you are looking at… the road that leads to wealth or the road that promises self-esteem. If you’re bright, capable, articulate, and ambitious, you’ll learn whatever you need to learn very quickly.
I predict you will eventually acquire both wealth and self-esteem. Which one you get first is up to you.
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