What's an MBA?

by Todd Rhoad

In a recent discussion with a group of business students, the question of the value of the MBA on the career was brought up. Some students were considering obtaining it but wasn't sure if it was worth it. Having spent the last several months collecting success stories from MBA graduates from around the globe, I had a few perspectives to share on this question.

The MBA degree is like College basketball's NCAA Men's Division I Basketball Championship. It's March Madness. Just imagine you're shooting for your chance to get into the big game with the corporate executives. You want to be a big dog someday and the MBA is a quick way to get there, so we think.

The tournament is tough. Only 65 teams are selected to enter the tournament. Thirty-one teams automatically qualify from the performance in their conference tournament; that is, they win it. The remaining 34 other schools are selected to participate by a 10-member selection committee.

THE AUTOMATIC THIRTY-ONE

In the business world, the "automatic" participants, are usually graduates from the top business programs, such as Harvard, Stanford, Yale, Cornell, and Duke. Graduates from these programs benefit greatly from brand recognition; that is, the brand power of the university and their own personal brand. Does Harvard have brand power? Of course they do. They also have a great network that students are taught to use. The successful graduates of top tier programs capitalize on these perquisites to accomplish big things that build their own personal brand.

The performance of these graduates is fairly consistent. It is very similar to the list of colleges in the Sweet Sixteen, we see the same teams over and over. Year after year. UConn, UNC and several other college teams frequent the Final Four because they have already experienced the big pressures that come with playing in the big game. They have a track record of high performance.

THE REMAINING THIRTY-FOUR

If you're not in with the big dogs, then you'll be competing for one of the 34 remaining positions. Just like the smaller colleges in the tournament, you may feel like you'll have to perform amazing feats to capture the attention away from the teams that always seem to be seeded at the top.
Just because you have an MBA doesn't mean you're selected. You may be in the running but there's more to it than just having the minimum requirements. As previously mentioned, a selection committee chooses the remaining schools for the tournament.

The selection committee uses several criteria to choose the teams:
* Ranking in the national polls
* Conference record
* Road record
* Wins versus ranked opponents
* How a team finishes its regular season
* Rating Percentage Index (RPI)

Most of these are easy to understand, with the exception of the Rating Percentage Index. It is a little more complicated. It's a mathematical formula applied to the team to determine the strength of its schedule and how well the team played that schedule. The formula encompasses how many games the team won, how many games its opponents won and how many games the opponents of its opponents won.

As an MBA graduate from a lower tier school, you aren't ranked in national polls. It's also unlikely that your school has a reputation, or record, for putting its graduates at the top of organizations. This means the school's brand power won't do much for you since organizations won't know the typical performance of its graduates.

So what will your committee see when they look at your record? Will they see a lot of past victories, teamwork, accomplishments and successes with members inside and outside of the organization? How do you compare against your competition and their accomplishments? Your performance, past and present, should be indicative of the next level of play.

CUTTING THE NET

Once all teams are selected, they are placed in brackets by secret ballot. Then, the action begins in what can be called unregulated competition. Sixty-five teams go in and only one will come out. One only team gets the pleasure of climbing the ladder and cutting the net.

Getting the opportunity to participate in the big tournament isn't easy and will take a great deal of work, drive and motivation. The difficulty doesn't stop there. Once you're in, each victory brings new challenges, new obstacles, new competition and the need for new strategy.

Every move on the board is a move to fewer competitors but better competition. As you get higher and higher on the board, you'll run into players with similar skills and abilities. Many will be high performers with comparable drive and determination. The good news is that your game will get better because you're playing with a better group of people.

It's really difficult to predict what will happen. While a no. 1 seed has never lost in the first round, the 2nd seeds have. And yes: even the unknown schools have a chance. George Mason University made it to the Final Four in 2006.

In summary, the unranked MBA is useful and will provide you one key credential in getting into the big tournament of your career. However, it's your past performance and experience that will equip you for the rigors of the tough competition you can expect in the corporate game. Even with an MBA, it's not easy. So, lace your shoes up tight, run hard and make every shot count.

About Todd Rhoad
Todd Rhoad is an author and speaker specializing in Career Development Strategies. He is the author of the book "Blitz the Ladder" and speaks frequently at colleges, businesses, conferences, and organizational associations. Todd is Technical Director for BT Consulting, an Atlanta-based Company, and holds both a MSEE and MBA. He can be reached at Todd.Rhoad@blitzteamconsulting.com. Your can read more about his book at www.blitztheladder.com and his company at www.blitzteamconsulting.com.

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