When it comes to MBA graduates, to hire or not to hire is definitely the question. For some companies, they are an awesome fit, whilst for others, they could disturb the equilibrium. There is certainly some merit to hiring MBA talent, which is clear to see as MBA graduates are some of the most sought-after in businesses all around the world. If you’re looking to inject some new talent into your company, you may be wondering whether it’s a good idea to hire an MBA graduate. Here are some of the pros and cons of doing so.
Pro: MBAs Tend to Be Critical Thinkers and Problem Solvers:
Critical thinking is, in short, the ability to overlook biases and preconceived notions, in order to determine the truth about a particular subject. Considering the fact that today, social media platforms are more than capable of spreading ‘fake news’ and other misinformation that could push businesses and their leaders into knee jerk reactions, employees who are skilled critical thinkers with a sense of objectivity are highly desirable in any kind of company. Typically, MBA graduates tend to be better critical thinkers than the regular person. During their studies, they are taught to gather evidence, separate the facts from the rumours, and come up with feasible solutions. They are often very grounded individuals who are less likely to be taken in by fraudulent news and hoaxes.
Pro: They are Globally Aware Networkers:
Getting an MBA is often all about networking right, and with the right people. A hugely important part of getting the degree is all about being presentable, developing a pleasing persona, and having the guts to convey messages in a way that persuades. As a result, MBAs tend to be highly skilled networkers who know exactly what to do in order to stay on top of global micro and macro trends. They are no strangers to mixing with connections who are able to further their careers and help with reaching the goals of the company that they are representing.
Pro: They’re Always Learning and Growing:
A good MBA graduate knows that any good leader will first lead themselves. Generally, MBA graduates tend to be individuals who have a keen hunger and desire to continue learning and consistently upgrade their skill-sets and abilities. Most tend to be eager to learn as much as they can and are not scared of investing in themselves and their careers. When hired by a company that offers opportunities for growth, they often prove to have a very high return on investment as an asset, taking on more responsibilities and becoming very worthy business leaders. And, the MBA degree itself is designed at its core to test the students’ limits of dedication and hard work; particularly business management courses online, which expect students to be skilled at managing themselves. This is something that continues for most graduates long after the studying is over.
Con: They Have High Salary Expectations:
If you’re looking to hire a professional on a tight budget, an MBA graduate may not be within your price range. Some of the best qualities possessed by MBA graduates make them a great force within the workplace, but this also comes with a side effect of very high ambitions. As a result, the majority of MBA graduates also expect to be rewarded for their work with large pay packets – and many will have large student loans to pay off. That being considered, they may not always be the best choice of hire for a start-up that is strapped for cash. As an alternative, you may wish to consider opting for professional consultation on a pay-per-job basis from an MBA graduate, rather than hiring an individual as a full-time employee.
Con: They May Not Have Real World Business Experience:
With more and more entrepreneurs and professionals returning to school in order to gain an MBA, it may be easier these days to find a graduate who also has the real-world business experience that you need alongside qualifications in order to help your company grow. However, in many cases, those who are fresh out of college may not have any valuable real-world business experience. They may have interned as a student, but this is often with well-established companies that simply solidify their notions of ‘ideal’ working conditions. And, for bootstrapping start-ups and developing companies, people who know how to get things done when the going is tough are the most ideal choice – a skill that many fresh MBA’s may not possess. But, at the end of the day, it’s all about finding an MBA graduate who can bring what you need to the table; there’s no ‘one-size-fits-all’ decision when it comes to hiring.
Con: They May Have Outdated Knowledge and Information:
Whilst there’s no denying that an MBA degree sets students up for a lucrative career in business, when it comes to hiring an MBA graduate, you may find that much of the knowledge they’ve gained as part of their degree is becoming outdated. Whilst there are certain core aspects of an MBA degree that don’t tend to change in the world of business, it’s important to consider the facts that business trends are subject to constant change, and what an MBA graduate studied in college may no longer be current, or at least as important as it was back then. Concepts and processes are evolving more than ever before, so if your graduate hire gained their MBA some time ago, there may be a risk that they are out of the loop. On the other hand, however, a good MBA graduate will always be eager to learn more and keep themselves updated with business trends and concepts – and a large part of the MBA curriculum involves staying on top of the curve.
There are many great reasons to invest in hiring an MBA for your company, but also some disadvantages to think about. At the end of the day, bear in mind that all graduates are different, so it’s worth finding out what they can bring to your company as an individual.