Should I get an MBA?

I'm asked this all the time.

There is no simple answer to this question.

Many executives do have an MBA.

I managed to be quite successful without one. In my case, I applied for and was admitted to an MBA program, but chose to focus on my job instead.

This source indicates that the full cost of an MBA is between $70,000 and $200,000, before considering lost income if you go full-time.

That is a huge investment, but it can teach you Finance, Marketing, analysis, and help you build a powerful network.

But, consider that executive coaching runs between $5,000 and $20,000, a fraction of the investment.

Coaching teaches a complementary set of skills.

MBAs give you case studies, knowledge, and academic skills.

A coach works with you one on one to hone your leadership.

Thus my overall answer is to pursue an MBA if you want what it offers, but do not feel that you absolutely must do so.

No matter what you choose, invest 10% of that money in a coach who can work on practical blockers and skills yo…