Work Experience Gives Best Insight into the Value of an MBA Program

By: Steve Rubis

The plethora of MBA programs leaves prospective students with headaches when trying to make a decision as to which school one should attend. A few months ago, we wrote an article stating that we would like to put forth a new rubric for ranking MBA programs. In order to do so, it is necessary to understand what characteristics are most important to a ranking structure. Most MBA Admissions Officers and Ranking Organizations focus their discussion on statistical metrics, i.e. GMAT, Diversity, Salary. The problem is that the statistical metrics overlook the most important aspect of MBA programs: student work experience. Previous work experience drives the growth and career changes that most MBA students seek. We believe that student work experience separates the truly great schools from the rest of the pack.

Certainly, statistical metrics allow prospective students to compare numerous schooling options. Statistics create a common base for analysis which allows prospective students to analyze their diverse options. The problem is that statistics make the specific school in question look good. Analyzing different admissions standards and statistics offers no value to the consumer. The metrics that Admissions Officers and Ranking Organizations use offer data on an educational experience and it offers no data on results. Statistical analysis fails to illuminate what return prospective students will receive from their educational experience.

In our humble opinion, analyzing the resumes of current students for previous work experience and internships offers the greatest insight to an MBA programs value. Perusing current student’s resumes offers an insight to the level of intelligence and work abilities. The prospective student can easily compare his or her resume to the current student population. Within minutes, the prospective can accurately decide whether or not he or she will benefit from the program in question.

An illustration of our statements above will provide clarity. There are two schools: School A and School B. The student’s backgrounds are as follows:

Work Experience:
School A: small firms, no corporations
School B: Fortune 500 and many corporations
School C: Prominent Fortune 500 corporations

Salary Range:
School A: under $50,000
School B: between $50,000 and $60,000
School C: above $50,000

For most prospective students the reasons for attaining an MBA are higher salary, better jobs, and career change. The above scenario illustrates why looking at work experience is essential. If I make $50,000 and have worked for prominent corporations, I will not benefit from attending a school where the students experience is below my previous experiences.

This illustrates how work experience is the most essential aspect of an MBA program. Students are able to get better jobs and affect career changes because of the network built while at school. If a prospective student wants to obtain a position at a prominent Fortune 500 and has strong work experience the student should go to School B. Our test student would not benefit from School A because the student populace does not offer a useful network. If the student went to School C, he or she would fail because the student populace is at a more developed position career wise.

Student work experience answers two analytical questions: (1) can your candidacy and acceptance make the school better; and, (2) can attending the school in question help your career goals. We think that this analysis offers the best value and takes the least amount of time for prospective students to employ. After all, the prospective student’s telos is to obtain a better job, not just a fun and expensive experience.