Guest comment: Is an MBA right for you?

Edouard Jozan, a member of the 2008 MBA class at London Business School, on the advantages and disadvantages of taking time out to do an MBA.

Before embarking on my MBA, I worked in the finance team at Allianz, the German insurance company, both in France and Germany. With a focus on asset-liability management and M&A, I gained strong exposure to investment management and investment banking in Europe.

After the course has finished, I'd like to use my finance expertise to provide investment advisory services to clients in Europe. I'm thinking through my options: client relationship management with an investment company, sales with an investment bank, or finance advisory with a consultancy?

Why an MBA is right

Why is an MBA the right choice for me? Distance from the professional world is giving me time to develop new energy and ideas for my future career. Being in London - with classmates and faculty with an amazing variety of cultures and expertise - has broadened my horizons like never before.

I've had one-to-one career coaching and privileged access to top companies, which has allowed me to really think about what I want from my career. I've met with recruiters from large investment companies like PIMCO or Barclays Global Investors, and visited the trading floors of Barclays Capital, Lehman Brothers and Morgan Stanley to discuss careers in sales and trading In London.

The MBA will also give me the opportunity to complete a summer internship and gain real experience of another industry and function.

And then there are the friendships! I hope that the people I've met on the course will remain friends for life.

When an MBA is wrong

An MBA isn't right for everyone. If you are already happy with your job and have ample growth opportunities in your career, you don't need one.

If you've already reached management responsibilities with your current employer, you should also think carefully before doing an MBA. Taking two years out can incur a hefty opportunity cost in terms of lost earnings, and may erode further short-term career advancements.

Ensure your goal of career change or advancement is realistic. For example, an MBA is unlikely to make a marketing manager at a consumer goods company into an exotic options trader.

And make sure you go to a good school - London Business School is one of the highest ranked schools in Europe and is targeted by most top companies. Few of the many MBA schools on the Continent share that distinction.

For me, the major downside of the MBA is mostly financial, since I have taken a relatively large loan to finance my studies. The other major downside has been to leave my family and friends to go back to the student life.

Boxes to tick

Before embarking on an MBA course, there are therefore three boxes you should tick...

· Does the MBA fit in a realistic career plan for you?

· Are you ready to challenge yourself and take risks?

· Does the MBA school - from its quality, location and internationality - open real doors to the world for you personally and professionally?

If all these boxes are ticked, an MBA may be for you. If they're not - think again.

Expensive luxury or career necessity? How valuable is an MBA? Add your comment and let us know what you think.