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iQuestions Faculty, Ron Price 
 
 
Question: 
 
MBAs are costly and time-consuming. Do I need one in order to 
succeed in business? 
 
Answer: 
 
A lot of people ask me, “In order to advance my career, do I need to 
go back and get an MBA?” probably in part because they see a lot of 
other people doing that.  
 
MBA programs have become very popular and I don’t want to criticize 
them. I think there’s a lot of value that comes out of an MBA program.  
 
But having said that, the motivation behind getting an MBA is probably 
more important than whether or not you can put the letters at the end 
of your name. Because, the motivation to always be learning is going 
to take you much further than letters ever will.  
 
I’ve seen people who don’t have MBAs. I’ve got to be candid with you: 
I don’t have one, and yet I’m regularly invited to lecture at MBA 
programs and doctoral programs—because your commitment to learn 
and develop your own expertise is the dominant factor, more than 
your formal education. 
 
Depending on the type of job you want, an MBA may be a 
prerequisite—you have no choice.  
 
Regardless, that’s not going to get you any further than inside the 
door. If you want to succeed, if you want achieve high levels of 
 
 
performance, it’s going to be driven by your passion for learning more 
than whether or not you learned formally or informally along the way. 
Price -2- 
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