Canada's business schools are flourishing as they churn out students to quench corporate Canada's never-ending thirst for MBA graduates.
But the MBA industry raises many important questions:
Is an MBA degree worth it? Which business niches are the ones most in demand? Can I find the time to work and study for my MBA? Can I even afford it? Can I afford NOT to take one?
Gordon Pitts, a senior Report on Business writer, was online to answer these and other questions. Mr Pitts writes feature stories and analytical articles on management issues and is renowed for his interviews with leading senior executives.
During his 16-year career with the Report on Business, he has also served as a features editor responsible for sections dealing with business change, strategy, entrepreneurship and leadership. As part of that mandate, he led the Globe and Mail's coverage of management education, including business schools, and continues to write about this area.
The author of four business books, including The Codfathers, Lessons from the Atlantic Business Elite (2005), he is currently writing a book on the shift of economic power and wealth to Western Canada.
Editor's Note: globeandmail.com editors will read and allow or reject each question/comment. Comments/questions may be edited for length or clarity. We will not publish questions/comments that include personal attacks on participants in these discussions, that make false or unsubstantiated allegations, that purport to quote people or reports where the purported quote or fact cannot be easily verified, or questions/comments that include vulgar language or libellous statements. Preference will be given to readers who submit questions/comments using their full name and home town, rather than a pseudonym.
Sasha Nagy, globeandmail.com: Dear Gordon: Thanks for agreeing to answer reader questions on MBAs and issues related to obtain this degree. There is tremendous interest in this topic and we have a large number of questions. I'll jump right into the queue in the hopes of getting as many answered as possible.
Here goes...
Puntal Puntal from Calgary writes: Given the widely variable opinions on employment prospects in the financial sector over coming quarters/years, what is your opinion of a CFA leaving the banking side and pursuing an MBA in a financial field, to weather the coming downturn? Is there too much redundancy between a CFA & MBA re: employability, to justify the investment in an MBA?
Gordon Pitts: That's a very interesting question. Many of the senior executives I talk to have used down times in their sector to go back to school and deepen or broaden their skills. The good thing is that there are programs today that offer some flexibility to allow you to keep working while you are learning. Maybe you don't have to leave your job to get that extra versatility.
I agree there may be some redundancy in the financial MBA. The CFA is a very respected designation and you are already in a strong position. You may find some parts of the MBA a bit deja vu. It depends on the program. But it all depends on what you want to do with your life. Do you want to be more of a professional manager, in addition to your financial skills? Do you want to get some leadership training, marketing, organizational ability?
Where do you want to do with your career? It sounds like you're asking the right questions.
Robert Marshall from Scarborough, Ontario writes: Mr Pitts: First question: Do you think that it is more career beneficial for a university business student to be focusing on a designation (I am thinking CA - Charted Accountant or CMA - Certified Management Accountant) instead of focusing on getting an MBA?
Second question: I was thinking about focusing on getting a MBA in the international business area is that a good idea?
Gordon Pitts: I think an accounting designation is a great asset, followed by some years of real business work. Then I might think of an MBA, once you have some experience and know what you want out of a management degree. You have some business context to deal with. Again, it depends on your career aspirations.
International business is a great area. Does the program have a strong internship program with a possiblity of full-time employment? Do you have the language skills and if not, will the program help you with that? Will you get a strong functional training within that MBA? All things to ask.
Sasha Nagy writes: I thought readers might want to hear from two people who are very happy with their MBAs, following by one person who is unsure. Over to you Gordon.
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