Does an MBA make you happy?

The FINANCIAL — According to a recent survey of over 1,100 MBA students studying at 12 of the world's leading business schools, the answer is ‘yes!’

Taking part in the MBA Happiness Index 2013, students were given 3 questions and asked to rate their happiness on a scale of 1 to 10. The questions were:

– How happy were you 12 months before your MBA?
– How happy are you now, during your MBA?
– How happy do you expect to be post-MBA?

The results show that students’ happiness jumped significantly during the MBA (7.71 out of 10) when compared to pre-MBA (5.98). And students expect to be happier still post-MBA (8.53).

While many potential business school applicants focus on the impact of the MBA on their salary and career opportunities, it seems that the personal satisfaction of returning to the classroom is in and of itself one of the benefits of the degree.

“Students aspiring for an MBA are very clear about the reasons that led them to the degree," says Professor Dishan Kamdar, Senior Associate Dean at the Indian School of Business. "What surprises many is that the pedagogical challenges imposed by the course forces them to think creatively and they find that they are happiest when tapping into their hidden abilities while trying to meet the intellectual rigour of the programme."

Professor Kamdar also points out that the variety of activites that are part of business school life  be it in academics, sports, cultural events, art, music or competitions –not only boost their confidence but also increases their happiness.

Jo Li Puma, MBA Program Director at EM Lyon in France, identifies a level of optimism and drive that are common to both entrepreneurs and MBA participants. "As with entrepreneurs, for MBA participants, there are many long days (and nights) of intense work with a great investment of time and energy. There is little short-term reward. Happiness comes from the learning you achieve, the network you develop, the sense of accomplishment, a belief that you can make a difference in the world, and the knowledge that you will earn more in the long run as a result of your investment."
So what about Eastern European students? The respondents from across the region are all currently full-time, part-time, executive MBA or distance MBA students studying at EM Lyon (France), ESMT (Germany), FGV-EAESP (Brazil), HEC Paris (France), Vlerick Business School (Belgium), Indian School of Business (India), Nyenrode Universiteit (Netherlands), Oxford – Saïd Business School (UK), Peking University BiMBA (China), St. Gallen (Switzerland), UBC Sauder (Canada), Univ. Virginia – Darden (USA).

The results across all 12 business schools suggest that while happier than other pre-MBA students (6.51), they enjoy an even bigger jump in happiness during the programme (to 8.22) and expect to be happier still when they return to the 'real' world, with a score that places them amongst the happiest of business school students globally (9.02).

Matt Symonds is the Chief Editor of MBA50.com