Guest Comment: Don't be afraid of the big, bad MBA - my top tips for surviving your studying
Choosing to study while you are working is a significant decision, especially if you have a demanding job in financial services that does not fit neatly into the nine-to-five box. When I started my postgraduate studies (an executive MBA) about two years ago in Australia, I faced two key challenges.
Firstly, it had been eight years since my undergraduate degree and other than sporadic work-based courses, I had not really studied since my uni days. The idea of hitting the books again was daunting and I could see my personal time dwindling away.
Secondly, I could see no end to the excessive demands of my job. Work was so busy that even attending the MBA information evenings was difficult. If I didn't have time to make these, how would I ever get to weekly lectures?
Today, however, I'm in my final semester of study (yes, yes, yes!). Needless to say, I have overcome my initial concerns to get to this point, so I thought I would share some tips for other professionals facing the "study/not study" decision.
Manage your time
Even though my employer supported my MBA (it pays on successful completion), I had to negotiate things like study leave and 'stopping work by a certain time on lecture nights' with my boss. Whether or not your company is paying, this negotiation is essential to ensure you have enough time to focus on your studies.
I have been proactively brutal with my time, having found new ways to deal with the 'fire fighting' activities that used to keep me in the office until late. Steven Covey's time management principles in the book The Seven Habits of Highly Effective People taught me to shift my focus away from the 'urgent unimportant' (something I was doing too much of) towards the 'non-urgent important' (I classify my studies in this category).
Other time management tips include: reading on my daily train commute; preparing lectures on Sunday; learning power-reading techniques; and improving the way I summarise notes. Of course different things work for different people, but the key takeaway from this is that you MUST take steps to manage your time better.
Focus on personal development to keep motivated
It can be difficult to stay motivated when you also have a full-time job and personal commitments. While I intensely dislike late nights and weekends devoted to study, I relish the knowledge and the personal development that I am obtaining as a consequence.
I have had several 'a-ha' moments at work where I was able to apply concepts from my MBA. I have contributed constructively in areas where I previously lacked knowledge or confidence. Academia is not just about books - there are some excellent case studies that allow you to get inside the workings of other organisations in your industry, and I have spoken about these back in my workplace.
My 'brand' at work has improved and I am getting an edge over my peers. This focus on personal development has kept me motivated for two years, even though there have been times where I just wanted to quit and get some of my life back.
Remember, it is worth it
It remains to be seen how much real bargaining power I get to boost my career at the end of all this, but I am hopeful. And irrespective of whether I become hot property in the employment market, I have realised some clear benefits already, such as personal development and a higher profile at work. Moreover, I am getting promising feedback from my boss and other managers.
The other latent benefit is that I have become a more effective manager myself. For example, I am now better at delegating work to my team, and I seek their input more often. Despite not knowing what the future holds when I graduate, these benefits have already made my decision to study worthwhile.
There is a long list of negatives for undertaking study, however, if you value your personal development, you will find ways to make it work.
The views expressed in this article are those of the author and not of eFinancialCareers. The author works for a financial institution in Australia.
