July 17, 2011

Do you really need to go to a business school?

Lately I’ve noticed that I’ve been meeting a lot of fellow students who are trying to get in the SFU Beedie School of Business. Most of these folks are smart, articulate, and highly capable of critical thinking, but they’re still somehow short of the the high GPA requirement that Beedie has.

I guess I just never really appreciated how competitive it was to get into Beedie; I’ve been lucky enough that my GPA easily met the minimum requirement.

When I talk to these students, though, they talk about Beedie as if it’s some sort of a utopia. The general theme I’m hearing is that they need to enter the business school so they can get a good job afterwards.

The Pros of Going to Business School

I understand where these students are coming from. I find that as a business student, some opportunities are available to me that are not necessarily available to everyone else:

Extra help with career stuff — Beedie has a Career Management Centre that offers help in resumé and cover letters. The CMC also has regular sessions about networking and other professional development topics.
Exposure to like-minded students — I’m speaking in general terms here, but I find that business students tend to be more ambitious and focused. They thrive on competition. They seek opportunities to get ahead. Being around these folks will change you and will definitely bring out the best in you.
Proper “business training” — Professors often subtly talk about the proper DOs and DONTs of business etiquette. They do this by talking about their practical experience. I find that in my Communication classes, this is not necessarily the case.
Learn the lingo — Terms such as barriers to entry or sunk costs are not necessarily taught outside the business faculty.

Are these benefits enough?

Going to a business school has some benefits, for sure, but I find that students can easily get these benefits elsewhere.

At SFU, Career Services provide a similar service to CMC — the only difference being that it’s available for everyone.

Meeting like-minded students is also possible elsewhere. Joining student clubs is a good example, but volunteering at professional associations is an even better option. To get the practical business training, you can also just get an internship or do a coop term somewhere. Learning the lingo is easy, too — just read trade publications or blogs related to the industry of your choice. In some ways, this is a better option because you get to learn terms that are actually used in the industry and be spared of the ones that aren’t really used outside the academic field.

I’ve met a lot of professionals in business doing what they love and they never went to a business school. A BComm or a BBA is not a requirement for success.

There are some exceptions, of course. If you’d like to become an accountant, then by all means, go for a BBA. Same goes if you want to go into finance or banking.

Bottom line

If can you get in a business school, go for it. It’s super competitive, but if you give it your best shot, you’ll probably have fun.

If you don’t get in, don’t sweat it. At all! Steve Jobs is not a business graduate. Neither is Bill Gates. I’m not bashing business schools (I’ll soon be a graduate of one) — I just feel that people put these schools in a pedestal, and that this is not necessarily warranted.

Your faculty will not determine your success. Be creative and seek out to develop your skills elsewhere.