EITF S03E02 | #education Vs #experience, #mba Or No?! | Richard M. Salsman Experts In Their Fields

In this EITF interview with Nandini and Charu, Richard discusses his career journey from banking to academia and entrepreneurship. He emphasizes the importance of knowing both the details and the big picture in your profession. He shares insights on pursuing an MBA and the value it brings to different career paths. Richard also highlights the common traits needed for success in business, academia, and entrepreneurship, including being aware of the broader context and having a passion for teaching. He advises PhD students to focus on research and publishing to increase their chances of getting a professorship. We talk about education vs experience, grade inflation in academia, the value of a degree, happiness in a career, and of course, success.

We cover a lot with Richard, seeing that he is an expert in 3 different fields, so don’t miss out on this one! If you'd like to learn more about Richard, visit richardsalsman.com, or reach out to him on LinkedIn! We'd be happy to facilitate an introduction as well!

Takeaways -

• Knowing both the details and the big picture is important for success in any profession.

• An MBA can be valuable for career transitions and management positions, but prior business experience is recommended.

• Success in business, academia, and entrepreneurship requires being aware of the broader context and having a passion for teaching.

• PhD students should focus on research and publishing to increase their chances of getting a professorship. In business, experience is more important than degrees, although degrees still signal something.

• Business people value practical experience over credentials.

• Academia places a high value on degrees.

• Grade inflation is a problem in academia, affecting the quality of students.

• The value of a degree depends on its relevance to the job being sought.

• Multiple jobs over time can indicate career building.

• Sequential job changes may suggest boredom or incompetence.

• Happiness and a sense of balance are key to success.