Is a MBA Essential?
Do you need to go "back to school"?

Are you settling for mediocre pay, biding your time while getting much-needed work experience under your belt? Think scratching and clawing is the only way to the top?

Not according to an Oct. 19 Wall Street Journal (The WSJ) report. The WSJ reported that education pays. But before you begin filling out those graduate school applications forms, consider this: while education pays, an MBA degree pays better, The WSJ said.

The typical American worker with a four-year college degree earns 45 percent more than a similar worker who earned only his or her high school diploma, The WSJ article stated. But in today’s economy a bachelor’s degree no longer guarantees wage increases large enough to beat inflation—much to the chagrin of young professionals like me who grew up believing a four-year college degree was the ticket to professional success and financial security.

According to The WSJ, the only group of college-educated American workers who enjoyed rising wages over the past five years after adjusting for inflation were MBAs, JDs and MDs, and to a lesser extent, PhDs.

A current population survey included in The WSJ article showed that individuals with business, law, and medical postgraduate degrees—who make up 1.9 percent of the American workforce—enjoyed a 10.6 percent increase in wages between 2000 and 2005. During the same time period, individuals with PhD degrees average wage increased only 2.9 percent, the survey showed. Compare that to individuals with other postgraduate (Master’s) degrees whose average wage actually dropped 1.8 percent over the past five years.

But you’re a busy professional with too much to do and too little time to get all your “to dos” done. You realize that an MBA degree would be the jolt your career needs, but you can’t imagine taking an 11-month leave of absence from work to be a full-time MBA student or committing yourself to two-three years as a part-time MBA program.

There’s no reason to despair, however. Nondegree executive education courses, like the University of Pittsburgh’s highly-acclaimed MBA Essentials program, teach the “need to know” management skills as well as the important concepts and decision-making tools for improving business performance, unlocking your potential, and getting ahead.

Offered in an 11-week evening format or a two- (nonconsecutive) week daytime format, the MBA Essentials course offered by Pitt’s Center for Executive Education is recommended for professionals such as architects, attorneys, education administrators, and engineers, as well as managers and individuals facing increasing management responsibilities who need a better understanding of business concepts, skills, and language in order to communicate and work more effectively across functional areas and improve business performance.

With more than 300 graduates since its establishment in 2001, MBA Essentials has a very broad appeal and claims to be equally beneficial to non-profit as well as for-profit organizations.

Once you’ve set your mind to improve your professional situation through education, explore the options available to you. Local colleges and universities are a great resource, as is your boss.

Don’t be afraid to let your boss know that you’ve got your eyes on his or her corner office. Asking your superior for professional advice or simply making him or her aware that you desire to take on more responsibilities at work demonstrates an essential quality of leadership: initiative.

Be sure also to consult with your organization’s human resources personnel before committing to any continuing/executive education program. It’s very possible that your company offers some sort of education benefit/tuition reimbursement or has a budget for professional development courses designed to improve employees’ job performance.

So if you’re fed up with mediocre pay or tired of trying to scratch and claw your way out of a cubicle, the only question that remains is: Why are you still sitting there? Do something about it!

For more information about MBA Essentials or other executive education programs offered by the Katz School, call 412-648-1600 or, toll-free, 1-866-KATZ-CEE (528-9233).

Editorial provided by Leigh Ann Wojciechowski.