Putting the ET article on “Double MBA” into perspective…
Ever since this article was published in the Economic Times today morning featuring my story… I was surprised to see so many compliments coming my way and not to mention, some brickbats https://loansolution.com/payday-loans-or/ in the general media.
Over and over, I heard from millennials that they want careers that make them happy
In all this unnecessary attention, I think the whole message was lost and hence I found it important to put things into perspective.
Pursuing a second MBA is not prescriptive for everyone but is very circumstantial – dependent on what career aspirations one has, their journey thus far, and its timing. If someone has graduated from IIM and have got into a career that he/she is satisfied with and see no reason to accelerate or change anything about it, there is no question of even considering another education stint. However, if someone feels the recalibrate their careers and update their management toolkit (this is often the most important reason for people in the current times), then MBA or maybe another specialized masters might be the way to address that.
Also, it is no way to question the caliber of IIMs. As I have professed time and again, IIMs do a great job at what they are designed to do. And in no way is it an apples-to-apples comparison to peg them against the ivy league schools. Each system serves a different purpose based on different fundamentals. IIMs are there to take in fresh undergraduates and equip them with a broader management toolkit that is more general in nature and softens their technical skills from undergrad. And sometimes, that isn’t sufficient enough to propel one all through their careers thereby meriting a second stint to build an advanced toolkit. In contrast, international business schools assume that incoming students have that general management toolkit through their pre-MBA careers (often 4-5 years of work experience on average) and that they need to bridge that gap required to get into a specialized management role. You can refer to my other article dedicated to this conversation: IIMs vs. Ivy League MBA Programs
A constructive inference from this news article (which I would have expected from the article author) should be that: (a) MBA aspirants who haven’t embarked on this journey should understand the differences and make the right judgment – get to IIMs right after undergrad or work for a few years and then explore international schools; (b) Professionals who already have an MBA can see this as an option ahead of them to recalibrate their careers, only if necessary.
Finally, this isn’t a new trend at all… there are a number of IIM graduates who have been going the “Double MBA” route. One such instance has been Pepsi’ Indra Nooyi going to Yale after her first MBA at IIM Calcutta.
What Millennials Want
Sound obvious? Not really. It used to be that doing one’s job meant sacrificing one’s happiness in life. That’s what made you happy: doing your job. Not anymore. The new doing it all is having a career that brings you joy.
They want balance. “I want a healthy work/life balance that allows me to work hard, but still have time for a social life, working out, travel, etc.”
What makes them happy? Doing what they love. “I want to get paid for doing what I love, so that my personal AND career life will be enjoyable.”
They privilege joy over a paycheck. “…quality of life and enough money to support a family. I’d rather be happy than rich.”
At the same time, they want authenticity. They want work that makes them feel like they matter, like their contribution does more for the world than move a mound of virtual paperwork from one virtual desk to another. It’s not enough to crunch numbers, do their 40 hours, or have a 401k. Millennials want to work to make the world a better place.