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#Was it worth it?

Was it worth it?

Daianna Karaian, an alumna of the Kellogg School of Management, reveals how much of her MBA she still finds useful a year after graduation

THESE days, questioning the value of a business degree is one of the few growth industries. The Economist itself indulges in the practice from time to time. Is two years out of the job market and tens of thousands of dollars in tuition a wise investment? A year ago, as a newly-minted—and unemployed—MBA, I was sceptical.

With a background in sustainability and marketing gained from non-profits, government and small business, I went to business school to discover unexplored territory: the MBA would be my bridge into big business. I regularly pulled all-nighters poring over finance and accounting textbooks, poking into the darkest corners of Excel, and solemnly applying Little s Law to eliminate hypothetical bottlenecks in imaginary factories. Within six months I felt I had learned what would have otherwise taken many years.

That is not to say I fancied myself the smartest person in the room. On the contrary, ten minutes into my first class, discussing my first strategy case, I volunteered a solution that proved wrong—terribly, spectacularly wrong. I marvelled at how insightful and articulate my classmates were, and how interesting—the Navy veteran back from Iraq, the TV comedy show writer, the Washington insider.

Later, I would marvel again: at the difficulty of finding a job amid an economic crisis. While I was polishing my CV, Lehman Brothers collapsed. While I was interviewing for a summer internship, European economies teetered. While I was graduating, there was talk of a double-dip recession.

Despite assurances from cheery career counsellors that I was doing the right things—tapping into my network, doing company projects for course credit, building my profile online—I was getting the wrong results. After decades of academic and professional achievement, I faced repeated, discouraging rejection.

“We re under a strict hiring freeze.” “We decided not to fill this position after all.” The bemusing “It s because you re not perfect”. And worst of all, silence. Finally, after six months of searching, researching and re-searching, I got two offers on the same day. I accepted a marketing role at EDF Energy, the UK subsidiary of a leading nuclear energy company.

It s a good thing I chose the world s top marketing school for my degree. And not just because I am helping to build trust in nuclear energy in the wake of Fukushima, or marketing a French brand to a British audience. I am also attempting to educate customers about the benefits of low-carbon electricity. My brand strategy, advertising and crisis management course notes are now dog-eared.

Beyond a broad understanding of what makes organisations tick, business school gave me the time and space to indulge my interest in marketing sustainable products and brands. There were no courses on the topic, and career services had never heard of such roles. But the independent study, extracurricular projects and networking opportunities made possible by an MBA gave me the knowledge and experience I needed.

I went to business school with a clear sense of what I should do. I left with a stubborn determination to pursue what I wanted to do. For me, the MBA wasn t just about landing a plum job and jumping up the corporate ladder. The investment—in time and money—would be worthwhile only if it helped me do something I believed in. The difficulty I faced in finding employment—not just any job, but the right job in my desired field—taught me resilience, patience and persistence. It gave me a stronger awareness of my strengths, weaknesses and motivations. These were more important lessons than anything I learned in the classroom. In the end, I passed up a highly-paid position at one of the world s biggest technology companies for a more engaging, albeit less lucrative, challenge at EDF Energy.

So was it worth it? It will be a few more years before I can confidently answer that question. An MBA is probably like a fine wine that becomes more valuable with age. (And there is always a small risk you ll find that your expensive bottle is corked.) What I can safely say a year after graduating is that I have no regrets.