If you’re thinking about getting an MBA, first determine whether your expectations are aligned with what the degree will likely do for you. One benefit of MBA programs is that the credential sends a signal to the marketplace. But no career paths absolutely require an MBA – many senior people in general management roles, consulting, and financial services don’t have one – so don’t assume it will necessarily serve a meaningful purpose in your chosen field. Instead ask yourself:

• What market am I in now? What markets might I seek to enter in the future?
• Who’s interested in my services? How might this change if I had an MBA?
• How are MBAs perceived in these markets? What stereotypes (both positive and negative) might I face as an MBA?
• What is the reputation of the MBA programs I’m considering? How are these schools and their alumni viewed within my desired markets?
• What are my alternatives?