I am 38 years old - BS/BA in marketing - been unemployed now for 2 years - what do you think I should do? I would like a MBA from a top-tier school but do not have the money. What should I do to get my life rolling in the right direction?
–Mike
The Harvard MBA says:
Mike, I’m sorry to hear about your job loss. This economy has put a lot of good people out of work, and I’m sure it’s frustrating.
It’s true that attending a top business school can be a boost to your job hunt; for many MBA students, this is the main lure of business school. Thanks to the on-campus recruiting system, world-class companies come to you. But even top schools are affected by the recession. In good times, essentially 100% of the class has access to 6-figure jobs, but in tough times, a significant minority will graduate without a job…and with an extra $50-100K in debt.
Given the state of the economy, it is likely that we’ll be in a recovery by the time your prospective class (class of 2012) graduates, so getting your MBA isn’t a bad bet. Schools like HBS have plenty of financial aid, even in these tight credit times, so you’ll be able to finance your education.
But before you invest 2 years of your life, I’d encourage you to make sure that getting your MBA serves a purpose beyond boosting your job prospects. You’ll be in a much better position to take advantage of your business school years if you have a clear idea of where you want to steer your career.
Are you happy with your past work/industry? Are you looking to make a change? What kind of company do you want to work for? Or do you want to start your own company? Answering these questions is a good first step to getting your life rolling in the right direction.
And if you’re having trouble answering these questions, there are other things that you can do to help get those answers before you commit to b-school.
Daniel Gilbert’s “Stumbling on Happiness” makes the point that we tend to be lousy at projecting what will make us happy. The best way to predict how we’ll feel about something is to see how others feel about it.
Network and find people who are doing the things you think you might want to do and talk with them. Heck, network in general. In any business community, there are folks who are well-connected and helpful–usually you can find them if you ask around. Get to know these folks; not only will you be able to learn from them, but if you develop a good relationship, they’ll be thinking of you when they run across folks that need marketing help.
So here’s your concrete action plan: This week, commit to doing the following:
1) Identify 5 possible careers/industries/positions that you think you might enjoy
2) Assemble a list of local (or otherwise accessible) folks who match those criteria, and try to get some time to speak with them. Your goal is simply to see if their situations might be a good fit for you down the road.
Ask a compelling question, and you just may see it answered right here, by a real Harvard MBA! And it won't cost you one thin dime.
All submissions for Question of the Week will be read, but we regret that only a chosen few can be answered.
Every week, we auction off a thoughtful reply to the highest bidder, so check our
2 Comments
Very good advice, Chris! And something I will also take for myself, even though I am yet to even graduate.
Good luck to you in going through the plan and I hope you share your experiences here, Mike!
I’m sorry to hear about the difficulties you’ve faced. As you’ve seen, applying for jobs is often of limited use.
Think about how many people apply to work at all those companies listed on the “Top Companies to Work For” lists. Getting into one of those companies may very well be harder than getting into Harvard Business School.
You need to try interviewing closer to home, and try to figure out your strengths and weaknesses. If the issue is a lack of experience, find ways to address it.
For example, writing a blog or organizing an event in a particular field gives you a great excuse to network with experts and other enthusiasts.
Once people know you, your chances of getting a job increase dramatically.