Who wouldn’t want their name to be followed by these three letters? Yes, having a Masters degree in Business Administration is every aspiring businessman’s dream. This is what you stay up so late for just to get that 4.0 average and what pushed you to handle all those organizations and seminars to make your portfolio impressive enough to stand out among hundreds of applicants. To make it short, this is one of the things you’ve spent your college life molding and now that it’s here, you just can’t wait to plunge into school again and earn that post-graduate degree.

But wait, should you really pursue that MBA? Will it be worth it? Is getting those three characters attached at the end of your name the only way for you to thrive in the field of business? You see, along with the struggles of getting into top business schools, getting an MBA is also coupled with another huge problem: your tuition fee. The average cost of a master’s degree in a top university can reach up to $100,000. If you’re going to push through with this, you need to be a hundred percent sure that your money, time, and efforts will not go to waste.

One of the many things you should keep in mind regarding this matter are your options. FIrst, you may take an MBA in two ways: part time and full time. Devoting your entire hours to studying is only advisable to fresh graduates who can afford to go to top schools, as doing this may put you out of work for two to three years because of your whole day commitment to your education. However, if you have sufficient experience and want to finance your schooling, being a part-time student will be best suited for you.

It is also important to consider that obtaining an MBA part-time comes in two kinds. If you still lack in the background sector, you may work during regular hours and attend your classes on weekends or during the evening. On the other hand, if you 30 years and above of age and have a strong foundation especially in management, a wiser choice would be an EMBA, or executive MBA. Although it may cost you a lot, some employers are willing to finance your schooling if they view it as beneficial for the company in the long run.

Remember, an MBA will only be worth it if you land on a business-related job. Otherwise, it may not be very useful. Moreover, a good program will also be responsible for your career after you finish your master’s as some employers only regard MBAs from reputable programs. It will also be sensible to keep in mind that a degree like this one is not equal to transforming you into the most ideal applicant. There are a number of companies who think that work attitude and skill level are more important than a high level of educational attainment.

If an MBA isn’t really fit for you, there are alternatives as well to still boost your business career. For example, you may take a master’s in finance instead, which dwells more on trading and investments. Another good second choice is to register in CFA, or Chartered Financial Analyst. Aside from allowing you to have a flexible time as it is a self-study program, it is considered by many as equivalent to a graduate curriculum.