Ask Jon Frank- P69-Q&A:WHY MBA? 7 OVERLOOKED REASONS TO GET AN MBA

Streeter2012

Hey Jon, I read your 'avoid career switch' advice over the career goal essay. To some extent, I agree with you, because such goals are risky and might negatively impact the employment report of the school.

But on the other side of the coin, Adcom wanna hire someone who possess the potential to achieve some exceptional success in future, say entrepreneurship, because such successes could gain fame and donations for the schools in future.

Furthermore, if I state that I will go back to my current industry, it will lead to another problem here. Take myself as an example, I am an auditor in big 4 accounting firms. I don't need a MBA to achieve the career progression in my firm. Then why MBA? And why now?

Hence, I think it's a dilemma, on one hand, we need practical goals, ideally just go back to our industry, on the other hand, we need to demonstrate our potential to achieve exceptional success in future? Does it mean we have to find a balance between the two sides? I would like to hear more from you over the topic?

In addition, I heard two voices over the long-term career goal.
One says the we have to be very specific about the detail of long-term goal to assess whether it's achievable and realizable. The short-term goal is not important comparing to the long-term one.
Another voice is that long-term goal is just a vision, no need to be very detail while the short-term goal plays a more important role.

I would like to hear your comments over the two voices. Thank you very much.

JonFrank

Hey Jon, I read your 'avoid career switch' advice over the career goal essay. To some extent, I agree with you, because such goals are risky and might negatively impact the employment report of the school.

But on the other side of the coin, Adcom wanna hire someone who possess the potential to achieve some exceptional success in future, say entrepreneurship, because such successes could gain fame and donations for the schools in future.

Furthermore, if I state that I will go back to my current industry, it will lead to another problem here. Take myself as an example, I am an auditor in big 4 accounting firms. I don't need a MBA to achieve the career progression in my firm. Then why MBA? And why now?

Hence, I think it's a dilemma, on one hand, we need practical goals, ideally just go back to our industry, on the other hand, we need to demonstrate our potential to achieve exceptional success in future? Does it mean we have to find a balance between the two sides? I would like to hear more from you over the topic?

In addition, I heard two voices over the long-term career goal.
One says the we have to be very specific about the detail of long-term goal to assess whether it's achievable and realizable. The short-term goal is not important comparing to the long-term one.
Another voice is that long-term goal is just a vision, no need to be very detail while the short-term goal plays a more important role.

I would like to hear your comments over the two voices. Thank you very much.

-- by 会员 Streeter2012 (2011/7/12 10:04:41)

It would be my pleasure to help my friend.  Other than a few strange bits of advice at the end of your message, all your points are very smart!  J  It is true, that schools want people who will make lots of money, and donate it back to the school.  But the people who will achieve this success, most often, will be realists.  eople who know what they are good at, people who spend time building a track record, and people who take smart steps to achieve their goals.  eople with a PROVEN record of success.  You need to be one of these people to get into bschool—no program (no great program) will admit you based on just a dream.  They want PROOF that you will succeed.

Now, in the case of accounting, you are correct—schools DON’T want you to go back into accounting.  It isn’t the most sexy business!  J But what is logical?  What is connected?  Well, banking for example.  Even Private Equity (although we do not recommend that as a path). But just for example’s sake, these are FINANCIAL in nature, unlike general management, consulting, etc.  It would be VERY hard to connect accounting to management consulting.  We have done it of course, successfully!  But it is HARD.

And finally, when it comes to goals, you need to be as specific as possible.  Short term, long term—the more research you have done, the more realistic you are—the more likely the adcom is to BELIEVE you, when you spell out your vision.  So get nice and specific, FOR SURE.  Anyone who tells you otherwise, well, shouldn’t be sharing opinions at all…

Hope this helps, and GOOD LUCK MY FRIEND!


Jon Frank
HBS 2005

lakerfan123

Hey Jon, I read your 'avoid career switch' advice over the career goal essay. To some extent, I agree with you, because such goals are risky and might negatively impact the employment report of the school.

But on the other side of the coin, Adcom wanna hire someone who possess the potential to achieve some exceptional success in future, say entrepreneurship, because such successes could gain fame and donations for the schools in future.

Furthermore, if I state that I will go back to my current industry, it will lead to another problem here. Take myself as an example, I am an auditor in big 4 accounting firms. I don't need a MBA to achieve the career progression in my firm. Then why MBA? And why now?

Hence, I think it's a dilemma, on one hand, we need practical goals, ideally just go back to our industry, on the other hand, we need to demonstrate our potential to achieve exceptional success in future? Does it mean we have to find a balance between the two sides? I would like to hear more from you over the topic?

In addition, I heard two voices over the long-term career goal.
One says the we have to be very specific about the detail of long-term goal to assess whether it's achievable and realizable. The short-term goal is not important comparing to the long-term one.
Another voice is that long-term goal is just a vision, no need to be very detail while the short-term goal plays a more important role.

I would like to hear your comments over the two voices. Thank you very much.

-- by 会员 Streeter2012 (2011/7/12 10:04:41)

It would be my pleasure to help my friend.  Other than a few strange bits of advice at the end of your message, all your points are very smart!  J  It is true, that schools want people who will make lots of money, and donate it back to the school.  But the people who will achieve this success, most often, will be realists.  eople who know what they are good at, people who spend time building a track record, and people who take smart steps to achieve their goals.  eople with a PROVEN record of success.  You need to be one of these people to get into bschool—no program (no great program) will admit you based on just a dream.  They want PROOF that you will succeed.

Now, in the case of accounting, you are correct—schools DON’T want you to go back into accounting.  It isn’t the most sexy business!  J But what is logical?  What is connected?  Well, banking for example.  Even Private Equity (although we do not recommend that as a path). But just for example’s sake, these are FINANCIAL in nature, unlike general management, consulting, etc.  It would be VERY hard to connect accounting to management consulting.  We have done it of course, successfully!  But it is HARD.

And finally, when it comes to goals, you need to be as specific as possible.  Short term, long term—the more research you have done, the more realistic you are—the more likely the adcom is to BELIEVE you, when you spell out your vision.  So get nice and specific, FOR SURE.  Anyone who tells you otherwise, well, shouldn’t be sharing opinions at all…

Hope this helps, and GOOD LUCK MY FRIEND!


Jon Frank
HBS 2005

-- by 会员 JonFrank (2011/7/13 9:37:45)

Very Impressive, can't agree more. Thanks for the advice.

m1nt

Hey Jon, I read your 'avoid career switch' advice over the career goal essay. To some extent, I agree with you, because such goals are risky and might negatively impact the employment report of the school.

But on the other side of the coin, Adcom wanna hire someone who possess the potential to achieve some exceptional success in future, say entrepreneurship, because such successes could gain fame and donations for the schools in future.

Furthermore, if I state that I will go back to my current industry, it will lead to another problem here. Take myself as an example, I am an auditor in big 4 accounting firms. I don't need a MBA to achieve the career progression in my firm. Then why MBA? And why now?

Hence, I think it's a dilemma, on one hand, we need practical goals, ideally just go back to our industry, on the other hand, we need to demonstrate our potential to achieve exceptional success in future? Does it mean we have to find a balance between the two sides? I would like to hear more from you over the topic?

In addition, I heard two voices over the long-term career goal.
One says the we have to be very specific about the detail of long-term goal to assess whether it's achievable and realizable. The short-term goal is not important comparing to the long-term one.
Another voice is that long-term goal is just a vision, no need to be very detail while the short-term goal plays a more important role.

I would like to hear your comments over the two voices. Thank you very much.

-- by 会员 Streeter2012 (2011/7/12 10:04:41)

It would be my pleasure to help my friend.  Other than a few strange bits of advice at the end of your message, all your points are very smart!  J  It is true, that schools want people who will make lots of money, and donate it back to the school.  But the people who will achieve this success, most often, will be realists.  eople who know what they are good at, people who spend time building a track record, and people who take smart steps to achieve their goals.  eople with a PROVEN record of success.  You need to be one of these people to get into bschool—no program (no great program) will admit you based on just a dream.  They want PROOF that you will succeed.

Now, in the case of accounting, you are correct—schools DON’T want you to go back into accounting.  It isn’t the most sexy business!  J But what is logical?  What is connected?  Well, banking for example.  Even Private Equity (although we do not recommend that as a path). But just for example’s sake, these are FINANCIAL in nature, unlike general management, consulting, etc.  It would be VERY hard to connect accounting to management consulting.  We have done it of course, successfully!  But it is HARD.

And finally, when it comes to goals, you need to be as specific as possible.  Short term, long term—the more research you have done, the more realistic you are—the more likely the adcom is to BELIEVE you, when you spell out your vision.  So get nice and specific, FOR SURE.  Anyone who tells you otherwise, well, shouldn’t be sharing opinions at all…

Hope this helps, and GOOD LUCK MY FRIEND!


Jon Frank
HBS 2005

-- by 会员 JonFrank (2011/7/13 9:37:45)

Very Impressive, can't agree more. Thanks for the advice.

-- by 会员 lakerfan123 (2011/7/14 16:39:25)

dude, you must be JF's fan, trying to kissssssssssssss his ass
LOL

Kb24

dude, you must be JF's enemy, trying to kiiiiiiiiiiiiiiiiiiick his ass.
LOL

Kb24

oh i like his tips too, but no ass kissing. so what about it? bring it on, man. LOL.

JonFrank

Friends,

There seems to be a bit of mystery around who the PROFESSORS are at top b-schools. Everyone (who follows our blog, anyway) has a pretty good sense for who the student peers will be, and even met some alums from time to time. But who are the guys who are actually TEACHING your classes? Who are b-school professors?

Well, let’s get into it. It’s actually a neat question.

You will have a few different types of professors standing in front of the class in MBA programs.  Let’s narrow it down to three main types:

1. Extremely smart young people who have never had a real job.  Now, while these folks have never worked a day in their lives, often, they are EXTREMELY smart.  Smart enough to get one of these cushy MBA teaching jobs.  They pay well, the hours and lifestyle are great, and they are quite prestigious.  If a college professor makes $60K USD, an MBA professor at a great school makes $100K more than that.  And the PhD programs that these folks go to are IMPOSSIBLE to get into.  I’m talkin’ ten people in the PhD programs… TOTAL.  These folks make up for what they lack in business experience, with SMARTS.

2. Extremely smart older people who have been extremely successful in business, prior to teaching.  Sometimes these folks wont even have MBAs, or PhDs.  But schools will ask them to be lecturers.  They are VERY valuable, and teach lots of courses (at CBS, for example). They tell folks what it’s like “in the real world.”  No theories, no BS.  Just real life lessons from the trenches.  Often they teach these courses for free.  After all, they are filthy rich.

3. Extremely smart people who started out in #1 above, and now do CONSULTING for companies in industry.  Many folks will never work in industry, but once they are tenured professors (after 5-7 years as a teacher at an MBA program) they will start to do consulting for big companies.  BIG bucks to be had here too – these are the guys who write books, the gurus of business.

As you can see, no matter where they come from, there are lots of smart folks teaching business school out there. That’s one reason why it is so important to go to a great school, and why we always recommend going to the best school you can get into. The caliber of professors (and ultimately what you’ll take with you when you leave) is at stake.

Conventional wisdom is that at bschool, you will learn the most from your classmates and peers. And, of course, that is true. But the professors at top schools…they’re not too shabby either.

Jon Frank
HBS 2005

sc1381246

Hi there,

I got my PBT for 620 in Sweden, is it working when i apply for MBA program. I am Chinese working in EU now.

Thanks.

JonFrank

Hey gang, we were doing an interview on grad school and business school--thought Id share a quick Q&A...
How does one decide if bschool is right for them? What kind of questions should they be asking?
This is the oldest question in the book--and the answer is...it depends! In our opinion, there are two ways to approach this question. The first is with regard to job prospects. One can do a simple calculation--would I get better work, more interesting work, make more money--whatever the metrics are, with this degree. If the degree puts you in a firmly, tangibly BETTER position, then GO TO SCHOOL. You are currently at Point A. You want to get to Point C. Will a masters degree get you to point B? Maybe point B+? If yes, then GO TO SCHOOL.
Now. There is one other way to look at it. This is what our clients call our "touchy-feely" side. Namely, life is a journey. There is an instance where you may NOT benefit a great deal, from a professional perspective, from bschool. But it still may be worth your time. Why? Because you will meet new people, have new experiences, perhaps live in a new city--all these can be powerful incentives to go to school. Suck the marrow out of life, and take yourself to NEW experiences and settings along the way.
If neither of these two scenarios appeals to you--either the job-oriented, or the "touchy-feely," then bschool likely isnt for you.

Jon Frank
HBS 2005

JonFrank

Hi there,

I got my PBT for 620 in Sweden, is it working when i apply for MBA program. I am Chinese working in EU now.

Thanks.

-- by 会员 sc1381246 (2011/7/20 2:55:56)

Yes, the TOEFL will be good to submit no matter where you took the exam.  The trick is of course, does yoru score match up well to the schools you are considering applying to!  Good luck my friend…


Jon Frank
HBS 2005