To top it, I did not get the premium jobs in IIM-A campus placement as they preferred people without prior experience. I questioned my decision of leaving a well-paying job and investing in an MBA.

However subsequent job-switches and the opportunities to shift careers could not have been possible without an IIM-A degree. I could see the ROI and was happy about my decision.

Move the scene by 25 years. My Co-founder was presenting to a friendly CHRO. The slide on the profile of the Founder talked of the experience as CEO of Gallup, Partner of Aon Hewitt, etc. The CHRO remarked, “You have missed out the most critical part. Your founder is an IIM-A alumnus.” I asked him if my experience with some of the great companies was sufficient for my profile. The CHRO said, “Yes. It is sufficient. The fact your startup is founded by an IIM-A alumnus is superlative.” I was amazed. We took his suggestion and added the IIM-A tag. It worked. IIM-A alumnus and some of my past clients were the first 10 clients of W.E.-Matter. The first 10 clients are critical for a startup to survive and thrive. The past clients told me, “You are from IIM-A – helped sell the startup to the Founders/Owners.” I realized the long term benefits of the brand and alumni network from IIM-A.

This was my story…

All of us have heard many more success stories of people who took the risk of leaving their well-settled jobs to pursue higher studies.

But does the path of higher studies pays off for every individual?

Let’s evaluate together!

The foremost question that you should ask yourself is, “Why do I want to study further?”

Now, the major reason why people opt for higher studies is because it opens doors to new and better opportunities, both in the short and long run.

Let us define short-term opportunities. Typically, it starts with better pay.

Please do your cost benefit analysis. Education comes with enlightenment, but also costs in terms of time and money. Time is also money. The same time could be utilized to build experience and capabilities while working, and on top of that, you will be paid to learn! You will further your career as well.

Financially, growing in job may be more lucrative than higher studies, if you are not looking at long term benefits or the institute does not provide you with these benefits.

At times, one realizes that one does not enjoy working in a certain function. Or the industry one is working in is stagnant. Therefore, there is a need for a change in industry, job function, or both. Higher studies certainly can be a great option to address these issues.

Before you switch to higher studies, you should also consider the type of company that you are working for. Large companies help people to specialize in a particular role and become experts in that role and in that industry. In such situations, switching functions and roles is difficult. Therefore, going for higher studies is perhaps the only option.

You need to check the nature of final placements and recruiting companies at the institute that you plan to join. It is always a good idea to check with the ex-students as well. If that is good your short-term objectives are served.

If you are working for startups, they expose people to multiple roles and ensure multifaceted development that could lead to general management roles or eventual entrepreneurship. You can easily switch functions in such companies without higher studies. If you succeed in one startup you could move to another startup in a different industry. Talent starved high growth startups are willing to hire people for different industries.

If you are considering higher studies for long-term opportunities, it makes sense to invest time and money.

The long-term opportunities depend on:

– Brand of the institute
– Alumni network and successful alumni the institute can boast of.
– Quality of peer group for experiential learning and peer support in the long run
– Quality of faculty and research that leads to capability building

These create a long-term sustainable value proposition that is difficult to match with two years of experience or assign a value to calculate ROI on the investment in higher studies.

Don’t consider education only for short term opportunities. Aim for better growth prospects in the long run, say 10 to 25 years after graduating. It helps

Several youngsters opt for higher studies under peer pressure or for social presence. Please evaluate the cost-benefit. You may lose out on career opportunities.

Certain points that you must use to evaluate your decision for higher studies:

– What are your career objectives- short term and long term?
– If it is primarily short-term, can your job cater to the objective.
– Otherwise, a lot of institutes can help you cater to your short-term objectives if their final placements match your requirements.
– If your objectives are long term, evaluate the institutes on:
– Brand
– Network of successful alumni
– Quality of peers
– Quality of faculty and research
– Area of specialization of your interest
– Ensure that your career goals align with the benefits offered by the MBA program and the institute you are going to.

You can build capabilities easily, with a lot of online resources. What you miss out on is experiential learning, quality peer group, and the alumni network.

Hence, after the due evaluation and analysis, make the decision of working or studying further.

Higher studies or not, my articles will be here every week to guide you through your corporate journey!

NB: If you find it useful, please repost it to help your friends. Thanks.