Earning a joint MBA degree has become the talk of the town. It's being discussed in universities, boards, schools, forums and blogs. But what is it all about?
There are various joint MBA degrees available at universities currently. The most popular of which are the JD/MBA and the MPP/MBA degree. These degrees basically combine or merge two separate degrees into a sort of combination of both. There are common courses in both degrees and courses for which you get credit for in both degrees. Both of these are present in these joint degrees. Considering the rapid rise of these degrees, it's important to consider the pros and cons before opting for them
Pros
Dual degree programs have plenty of pros, but they differ for everyone according to their specification. Some of the most common pros are:-
Time
Most dual degree programs are around four years long. However, if these degrees are done separately, they take around twice as long i.e. 8 years. So a person who plans on doing both these degrees separately at some point in their lives, should probably opt for the joint degree program.
Freedom
Life is unpredictable. That is why it is never wise to put all your eggs in one basket. People are increasingly creating backup careers for themselves, something they can fall back on if they lose interest in their current job or if things take a turn for the worse. A joint MBA degree allows you to do that.
Adaptability
To move up in the corporate and/or legal world, it is important to possess skills that are different from the rest. Something that makes you stand out. A joint MBA degree allows you to do that. Not only does it equip you with the necessary skill to take up leadership roles, but it also improves critical thinking which is an essential part of a leadership role.
Networking
The key to a successful career is networking. Earning a dual degree virtually doubles your social network, hence increasing the chance of knowing someone who might turn out to be extremely influential in the future, hence giving you an edge.
Salary
The Dual degree saves you about one year of tuition, and in some institutions two years. Additionally, this dual degree gives you the freedom to negotiate your salary at any job. Moreover, people with a dual degree tend to receive bonuses more often than those who don't.
Cons
Unfortunately, earning a dual degree has its share of cons too, some of them are similar to the pros and again apply differently to different people. The cons are:-
Challenging curriculum
The business school is extremely difficult, law school is even more so. A dual degree, however, is notoriously challenging. Putting it simply, it's not everyone's piece of cake. Additionally, since your grades and GPA decide what kind of job you get, it's important to consider this aspect before opting for this degree.
Career conundrum
Absolutely no career in the world requires both an MBA and an unrelated degree. This degree is not going to get you that dream corporate job you always wanted, your skills will get you that. So it's important to think of where you want to be in the next 10 years before choosing this degree.
Competitive admissions
Universities tend to be skeptical of dual degree hopefuls. They want someone who is committed to learning and being part of a particular field, not someone who just wants to add another degree to their resume. This skepticism makes admission doubly difficult.
Time
Going to a university for a dual degree program means taking a two or three year break from the working force, something that is not possible for everyone.
In a nutshell, a dual degree MBA can be extremely helpful. Both in increasing your employability chances and your leadership promotion chances. However, if the above mentioned cons are a problem for you, then a dual degree MBA program is probably not for you.