Is an MBA worth it?

The Globe and Mail has an interesting article on its website in which senior Report on Business writer Gordon Pitts attempts to answer the question "is an MBA degree worth it?" Readers submitted a number of questions related to the value and relevance of an MBA to their career and education. Some already have an accounting designation, a CFA designation. or a commerce undergraduate degree. For these people, many concepts taught during MBA courses are redundant. The value for them is networking; the chance to meet young up-and-comers in the business community. An MBA degree can also be valuable for its focus on leadership, teamwork, and how to tackle complex business issues that cross many functions.

Frankly, I don't think the article answered the central question very well. In fact, it raises more questions than it answers. I believe the value of an MBA entirely depends on you. Do you consider an MBA to be necessary to get into a particular area of work? Do you know someone with an MBA who works in a field you can see yourself doing? I have many reasons why I decided to pursue an MBA. First and foremost, I am very interested in business and believe that an MBA will allow me to combine business with my technical background. Second, I think that an MBA program like the one at Ivey will make me a more confident leader. Third, I value education and consider a master's degree a personal accomplishment. I could go on...

Questioning the value of an MBA inevitably involves money. I'd be lying if I said I didn't want to earn an MBA because it will increase my earning potential. However, one thing that the article makes clear is that you should not pursue an MBA simply to earn more money. Instead, find a career that drives you and excites you, and greater cash flow will follow. The full-time MBA program at Ivey costs roughly $62,000. Other top MBA programs in Canada charge similar prices. That is a lot of money, and the Globe article definitely questions whether it is justified. Pitts does bring up the point that high tuition is probably necessary to attract top professors and instructors. Whether or not this is true, it seems that judging from the caliber of applicants, many students consider these business schools worth the high tuition.