Deciding whether to pursue an MBA or Master’s degree is one of the most common questions amid today’s uncertain market.
The most important advice from those who’ve gone before you: Don’t treat an MBA/Master’s as the destination. Instead, view it as a tool that supports your long-term personal and career development.
Who Should Pursue an MBA/Master’s—and Who Shouldn’t?
If you’re considering graduate school, you must evaluate the opportunity costs:
You should if:
You have several years of experience and want to move into management or pivot into a new field (e.g., consulting, finance, supply chain).
You have the budget and are ready for a long-term investment (ROI may take a few years).
You are targeting strong schools or programs with robust networks and solid career support.
You should consider delaying or choosing an alternative if:
You just graduated or lack clear career direction.
You’re unsure which industry you want to pursue or have no concrete post-MBA/Master’s plan.
You face financial constraints, or tuition plus leaving your current job would create significant pressure.
You’re aiming for a field where an MBA/Master’s adds limited value (e.g., highly technical roles where specialized skills matter more than the degree).
Once you decided to, let:
I. Face the Trade-Offs and Opportunity Costs
Financial Costs: Tuition, living expenses during the two years of study, and potential costs if you don’t secure a job immediately after graduation.
Non-Financial Costs: Two years in which you could be earning, getting promoted, or progressing in personal commitments such as marriage or family obligations.
Adaptability: Even smaller factors—like struggling with cold weather in certain U.S. regions—can impact your experience.
Final Question: Ask yourself: “If not now, would I still want to study later?” If the answer is yes, then it may be worth pursuing.
II. Timing and Preparation Matter
Applying for an MBA/Master’s requires significant time and thoughtful preparation.
Start Early: Many alumni say they wish they had started preparing sooner to avoid the pressure of compressed timelines.
Deep Reflection: Essays are short, but require deep self-reflection about your goals, values, and differentiators. Extra time allows you to think, speak with mentors, peers, or colleagues, and craft a stronger application.
Right Timing to Study: Most MBA programs expect applicants to have 5–10 years of work experience, ideally with some managerial exposure—this maximizes the ROI and program impact.
III. Confidence and Overcoming Fear
Don’t let misconceptions or self-doubt limit you.
Don’t Self-Exclude: Many candidates wrongly assume that having only Vietnam-based work experience will hurt their chances at top schools.
Be Confident: Allow yourself to dream big. Believe you can do it first—then commit to the process.
IV. Preparing for an Increasingly Competitive Future
The job market is more competitive than ever, especially with AI and leaner organizational structures.
Know Your Core Value: Be clear about what you bring to the table; your value isn’t tied to just one job title.
Stay Flexible: Think about transferable roles and skills that hold long-term relevance.
Plan in Multiple Dimensions: Prepare for different scenarios—Plan A (ideal career path) and Plan B (roles where your skills are still valuable and in demand).
Key Benefits of Pursuing an MBA/Master’s
New Skills: A structured period to gain skills you may not acquire at work, enabling career shifts or advancement.
Network: Build lifelong relationships with classmates and like-minded peers—often the strongest long-term career asset.
Higher Earning Potential: Yes—MBA/Master’s graduates generally earn significantly more, especially in investment banking, private equity, or U.S.-based roles where compensation levels are higher.
Employer Access: Over two years, you gain exposure to top companies, learn how they think, and develop clearer communication and professional frameworks.
Sources: Ace Mentors, Financial Times, Business Insider
