What exactly
would I achieve?
How do I find
the time to study?
What will I
learn?
Am I better
off spending that money on other shorter courses?These were the questions I’ve been asked by many ever since enrolling in the Masters in Business and Technology (MBT) program at the University Of New South Wales (UNSW) in 2011. Admittedly, I’ve asked myself the above questions throughout my Masters program too. Most of us may have interviewed postgraduates with impressive academic records and at times, felt they weren’t a good fit for various reasons. We’ve also worked with some great managers who may not be a Masters graduate but is a well-respected leader within the organization or in the industry. So why should anyone consider enrolling in a Masters program? Now that I’ve completed my Masters program and have graduated in June 2014, I’m going to try and answer those questions based on my experience.
Firstly, a background of myself.. I have over 10 years of professional experience gained from working at various organizations including KPMG, UBS, Tata Consultancy Services and now at Barclays. My primary experience is in the SAP Security and Risk Management domain. This is an extremely niche area which has its own pros and cons. As with any niche roles, I realize I’m in very high demand but only when my skills and expertise are required. I also realize that in projects or organizations which don’t require IT Risk management expertise, the need for my role is almost non-existent.
While I believe application security is a growing area and is here to stay, I do not want to ‘put all my eggs in one basket’. Therefore, few years ago, I decided to enrol in the Masters in Business and Technology (MBT) program in order to increase my chances of moving into a leadership and/or a wider Risk Management role in future. In my line of work, technical certifications are the quickest, cheapest and ‘easiest’ (debatable? good! I like debates. Looking forward to your comments) way of developing your skills. In most cases, certifications are directly related to a new project or a software product that is expected to be implemented in the organization. The results are almost instant as anyone who has been through a 3-5 day course and is certified will almost immediately be able to be the subject matter expert and contribute heavily to an ongoing project. This is extremely beneficial for the individual and the employer. However, the flipside is, most certifications comes with an expiry date – as there is a change in the technology or methodology, the certification related to that becomes less useful too. The concepts learnt maybe applicable in newer technologies or methodologies, but you may still be expected to get re-certified. In most cases, this is of very minimal concern for the employee or the employer as they are generally happy with using their certification to contribute successfully to the on-going project or deliverable.
Masters degree, in my view, is an entirely different ballgame. It usually takes a few years of study and the immediate benefits to your current organization is much blurrier. It is also common for you to pursue a Masters degree in a field other than your line of work.
Study and assessments at Masters Level consists reading and analysing a lots of theories and models. You are expected to have a thorough understanding of these concepts and then expected to relate it to the current industry trends or your current role. It is not unusual to research a theory from 1980s about human behaviour in teams and relate it to discussions on how Facebook manages their employees today or compare models on organization strategy from the 1990s when discussing sustainability in the finance industry today.
I don’t expect I will remember all of the models and theories in detail (If not for Google, I don’t think I’ll remember any!). Instead, the most valuable asset I’ve gained from this course is – A different way of thinking. A frame of mind that there is no formula for success; instead it is mostly just a vague idea. It is a concept that is hard to explain to some colleagues and managers who might expect me to come back with a ‘recipe’ that can be immediately applied to situations within the team or the organization.
We work in complex organizations where ‘change is constant’. Most board room decisions are not made based on a checklist or a standard model. Various external and internal factors influences the decision making process. Strategic evaluation tools such as PESTEL, Porter's Five Forces, SWOT and Value Chain analysis assists with applying a structure to the decision making process. However, organizational politics and other influencing factors will mean that the decision cannot be made purely based on available tools. If utilized well, the Masters program gives you the confidence to guide your team or management in their decision making by helping them to think of all the different possibilities and outcomes in a structured manner.
How do you find time to study?
This is another common question I have been asked regularly in the last 3 years. With most of us having plenty of high priority deadlines to meet at work regularly and other commitments outside work, time management is a very important and valid factor to consider when thinking about enrolling in a Masters degree program.
Firstly, most MBAs and Masters Programs are designed for professionals working in the corporate environment. First thing I noticed at orientation was that most students are in a similar situation to me (some more/lesser busier than me). Most students have common interests and commitments such as running, golf, travel, kids, beer etc. None of them ‘have given up all their interests and hobbies to focus on the Masters for the next 3-4 years’. The workload is generally designed with the expectation that the student will be working full-time and has other commitments.
The lecturers and students are generally supportive of any work deadlines and your availability, and are happy to share the workload accordingly. However, in return, you’ll be expected to catch-up and contribute to the remaining coursework once deadlines at work are met. You will need to be prepared for some late nights, early mornings, missed Friday night drinks and most of the weekend spent in front of the computer reading coursework while turning down BBQ invites. Fortunately, this doesn’t happen as frequent as what most people assume. If you plan well and keep on top of all weekly submissions, you may expect only about 2-3 weekends a semester to be fully dedicated to study. This is generally before the coursework submission and the final exam. It was never meant to be easy! It is a postgraduate program after all. However, in general, the study is manageable with sufficient pre-planning and ensuring you dedicate at least a 5 hours a week (I think the general recommendations is about 10 hours) to read the course notes and submit all weekly submissions on time. “People always make time to do the things they really want to do."
3-4 years study may look extremely long and scary. However, by eating the elephant, ‘one bite at time’, you will soon realize that there is no better way of gaining all the knowledge and experience in such a ‘short time’.
What have you learnt?
In addition to the obvious theoretical knowledge gained from the subjects, the overall experience of studying and completing the Masters degree has taught me numerous lessons that I hope to apply in my career and in my personal life. The 5 most important lessons learnt are:
-
It’s OK to not know everything – This
may sound like an oxymoron but, Masters or not, most managers and colleagues do
not expect you to have instant solution for every issue. It is perfectly normal
to accept that you do not know how to solve an issue. However, what makes you
stand out is your ability to formalize a plan and lead the initiative to
understand the issue further, come up with solutions and educate others on the
findings.
- Challenge the norm – “What are we trying to achieve by doing this activity?” is a question that isn’t asked as much as it should be. This question generally isn’t asked due to:
- Fear of change – Colleagues maybe comfortable and knowledgeable with the current process and may fear that the change may need to be driven by them and/or the change will impact their role negatively.
- Assumptions – At times, it is assumed that the requestor or the customer is
aware of ‘what we are trying to achieve’ by performing an activity. Therefore,
it is assumed that there is no need to ‘challenge the norm’. However, in
reality, it might be a legacy process that could be reviewed and streamlined to
fit the organization’s strategy better.
- Accept organizational change and politics
– Sooner you accept this, the better you will be able to support the management
with decision making. Almost every decision made by management will be
influenced by constant organizational change and politics. There may be
opportunities and/or management decisions, for which the decision may look very
obvious. However, the management may decide on an alternative option,
surprising yourself and your colleagues. Understanding the wider strategic
initiatives of the organizations and dynamics of the management will assist
with making better sense of such decisions.
-
A ‘Dream team’ does not have to consist of all A+
performers – You do not need to have a team of A+ performers to
form a strong team or deliver a project successfully. A successful team can
consist of team members of varying levels of capabilities and skills. Various
factors such as the ability to share an inspiring vision and having strong
dynamics amongst the team plays a key role in the success of a team or project.
-
Importance of self-reflection -
'Reflection’ is a form of mental processing based on the “further processing of
knowledge and understanding that we already possess”. Despite its importance in
self-development, self-reflection gains very limited focus from individuals and
organizations. Reflecting on your own work enables you to realize your
strengths and weaknesses and enables you to improve your role within the team
and organization.
(Source)
However, it is important to note that enrolling and/or graduating from a
Masters degree doesn’t instantly open new career paths or opportunities. It
also doesn’t transition you from a manager to a leader instantly, give you an
instant pay rise or promotion in most cases. Graduating from a Masters program is merely a start of a journey of
constantly applying the new skills of ‘thinking outside the square’ and
‘challenging the norm’ in a structured manner in order to add value to your
team, the organization and more importantly to yourself.If you are considering enrolling in a Masters program or any further education and unsure where to start, I’ll be happy to assist you. I may not have all the answers, but will be happy to share my experience and guide you to the right resources.