5 ways to maximize your MBA ROI: advice from ESMT alumni

ESMT recently hosted a wide-ranging webinar about a topic that comes up again and again: the ROI of an MBA. 

Hosts Marcel Kalis and Sophie Schaefer (Director and Deputy Director of the Career Development Center, ESMT's career development team) were joined by three graduates of our Executive MBA (EMBA) and Full-time MBA (FTMBA) programs:

• Farah Wehbe, Full-time MBA, Class of 2019.   
  Lead Engineering Manager, Iberdrola 
   
• Mike Tekabe, Full-time MBA Class of 2022  
  SR Partnerships Manager, Raisin, and Program Advisory Committee (PAC) member for the ESMT Master in Entrepreneurship & Innovation 
   
• Simon Gademan, Executive MBA, Class of 2016.   
  Head of Strategy and Products, Zalando 

Together, they tackled the many ways to make the most of your time at business school and maximize your MBA ROI.

To truly begin maximizing your MBA ROI, you have to first understand your personal requirements.

We tackled this topic in a previous blog about the same webinar, looking at several ways an MBA can give you a return on investment beyond salary progression:

• An MBA can help you switch locations
• An MBA can help you build credibility for a career transition
• An MBA can permanently change your problem-solving mindset
• An ESMT MBA can connect you to the kind of supportive network that lasts a lifetime

You can read the full blog through the following link: What is the ROI of an MBA?

Once you have decided what the ROI of an MBA means to you – in other words, where your MBA priorities lie – you can learn how to maximize them. And that's where the tips from our alumni can help.

Read on to discover our graduates' five best tips for maximizing your MBA ROI or scroll down to watch the full webinar.

No two business schools are alike. For instance, one school might specialize in legacy connections to established domestic firms, while another might be more agile, and more closely connected to the global startup scene. There are many other elements to consider too, like location, class size, faculty, specializations, and so much more.

For the alumni in our webinar, figuring out their personal goals, and finding a school that met those needs, was the first stage of maximizing their MBA ROI.

Mike: "I think the really cool thing about ESMT is that the [Full-time MBA] program is more bespoke than the bulk schools. It means the school's actually super responsive when it comes to changing curricula, and teaching elements that are relevant.

[I knew] I'd love to go into the more entrepreneurial side of the business world, working with ventures. So, I started researching schools that have a strong presence in that, and ESMT came up; entrepreneurship being one of the core principles of the school. Berlin is, at least in Europe, one of the centers of innovation. A lot of startup activity is coming out of this area."

- Mike Tekabe, Full-time MBA, Class of 2022

Of course, you also need to consider the differences between MBA programs at a single school. Take ESMT for instance: we offer four MBA programs; each tailored to diverse needs, lifestyles, and goals. If you want to maximize your MBA ROI, it is important to pick the program that can meet your personal aims. 

Take the time to really compare MBA programs, while thinking about what you need. Some common things our alumni considered included location, visa support, in-person networking vs online flexibility, career growth, and whether they wanted to keep working full-time during their studies.

Farah: "The career was important, but I was mostly looking for an international move. I was working on a German project where I was in Dubai, so Germany was my focus. While looking at the different schools in Germany, of course ESMT Berlin was one of the first that popped up. I knew a friend of a friend who was doing his MBA at ESMT Berlin, and he highly recommended the school... I've been in Germany now thanks to the MBA for almost eight years " 

- Farah Wehbe, Full-time MBA, Class of 2019

Simon: "Not everyone can afford to take a year off, or two years off. I couldn't just say, "Okay, well, I'm going to stop working for two years and I'm going to go and enjoy the experience of an MBA." So, for me, the Executive MBA was the best of both worlds.” 

- Simon Gademan, Executive MBA, Class of 2016

Your MBA will have both compulsory parts of the curriculum, and extra, optional events that give you an opportunity to grow your network. This could be within your cohort, within the alumni community, or even outside of the MBA, with potential employers. 

Our graduates' biggest advice? Don't let these opportunities pass you by. Even when you are tired after a long day at school. Even when you have a deadline for a project. Even when you think you've met those people before. You never know when you will have the conversation that could change your whole career.  In fact, this is such an important MBA ROI to maximize, that Sophie Schaefer, the Deputy Director of ESMT's Career Development Center, weighed in:   

Sophie: "I remember one of our alumni in a session for students once said: "treat your careers and networking and relationship building as a whole module." Really make the time for it...that's our number one message also to students."

- Sophie Schaefer, Deputy Director of ESMT's Career Development Center

Our alumni agreed, especially when asked what they would change if they could do their MBA again:

Farah: "I would invest even more in networking, because the market in these times is even more difficult. So, I would for sure put more effort into the networking; attend all these networking events that are provided by ESMT. 

I would put more priority on the [student] clubs, the networking events, and on the personal relationships, because these do pay off in your career and in your personal life... My first job [after graduation] was from a company I met at one of the fairs, and me reaching out first through that.

I really like this sense of community that everyone shares, whether it's from [ESMT], or from the students, or the alumni. I think this is definitely something that differentiates the school." 

- Farah Wehbe, Full-time MBA, Class of 2019

Adding full-time or part-time studies to your to-do list means making sacrifices in other life areas. It's simple math: you are adding a big commitment, so you need to subtract other commitments to make room. As our alumni pointed out, if you are set on truly maximizing the ROI of an MBA, you must be strategic with your time and put the bulk of your energy into the areas that matter most to you.

While the exact focus area could change as you go through the academic year, if it is a priority for you, you should invest 100 per cent. This might mean letting go of being the best-in-class in other areas: and that is ok. You will end up with an MBA that adds value tailored to your future.

Simon: "You also need to invest emotionally, invest in terms of your energy, invest in terms of the time that you commit to it. 

I didn't have the luxury of committing my work week. I was still working. So, my commitment was Sundays. I had a partner; I had a small child at the time, and that was the commitment that I needed to make. 

I think for sure you need to be clear on what you want. You're not going to be able to win on every front. I think maybe [if you try to do it all] you will pay the cost: emotionally, spiritually, in terms of your life. So really choose the things that you do want to do well on, to succeed in."   

- Simon Gademan, Executive MBA, Class of 2016

While at business school, you have a unique opportunity to confront your previous assumptions by trying new things. At ESMT, for instance, our MBA timetables are full of classes, workshops, seminars, and on- and off-campus events that offer the perfect chance to diversify your MBA ROI. 

And, as our alumni pointed out, you need to commit to this experimentation, even if that is uncomfortable. It's not enough to just attend a networking event: you must talk to people. To get the most out of a lecture, you should do the readings in advance and then ask meaningful questions. This applies even if you are feeling unsure or shy – after all, the greatest rewards often sit just outside your comfort zone.

Mike: "If you go in and say: “I pay my tuition and I expect everything to be figured out for me,” it's going to be a rude awakening. Because it's not going to be figured out for you.

Of course, you'll have all the tools to figure it out, and all the resources and partners to figure it out. But doing the step of putting yourself out there...it is work. But the dividends of that come back to you multiple fold.

This sounds so cliche, but it's truly one of the times in your life where there's never a bad answer. You can ask whatever you want. You can try whatever you want. And you just have the grace and the opportunity to experiment.

So really try the things that are uncomfortable too. Lean into them and I think invest the time as much as you can into meeting people and being open." 

- Mike Tekabe, Full-time MBA, Class of 2022

With all this advice, where do you get started? To help, we've condensed our graduates' advice into a few key steps – and added some extra points from ESMT, too.

Follow this plan to give yourself the best chance of maximizing your personal MBA ROI.

Before you start:

• Choose the school whose reputation matches your ambition
• Pick the program that best lines up with your needs and lifestyle
• Reach out to current students or alumni to confirm your findings
• If you are considering ESMT for your MBA: attend an Open House event on campus or book a Coffee Chat to put your questions to our team in person

During the program:

• Talk to everyone and get involved in networking events
• Invest emotionally as well as financially
• Make a note of your priorities, and plan your time strategically around them
• Try new things, even if they make you uncomfortable

After graduation:

• Stay in touch with your class and faculty for ongoing rewards
• Join an Alumni chapter or attend the ESMT Annual Alumni Meeting to keep up to date with your cohort and the wider school network 

Watch the full discussion

Are you interested in learning more about the ROI of an MBA? Watch the full discussion below. 

Our thanks go to the ESMT Career Development Center, and to ESMT Berlin MBA alumni Farah Wehbe, Mike Tekabe, and Simon Gademan for generously sharing their insights in this webinar.