THE IMPACT OF THE MBA ON CAREER OUTCOMES: AN ANALYSIS OF MALE AND FEMALE GRADUATES by Kim M.

Carlin LILBURN HOEHN, PhD, Faculty Mentor and Chair THERESE KANAI, PhD, Committee Member MICHAEL WILLIAMS, PhD, Committee Member William A. Reed, PhD, Acting Dean, School of Business and Technology

A Dissertation Presented in Partial Fulfillment Of the Requirements for the Degree Doctor of Philosophy

Capella University March 2011

UMI Number: 3449099

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 Kim Carlin, 2011

Abstract Human capital theorists assert that education is a key element in attaining personal success. Based on this assertion the attainment of the Master of Business (MBA) degree is a wise investment in ones human capital. To date considerable research has focused on the financial return of the MBA as measure of career success. Current research offers little insight into other dimensions of career outcomes, in particular comparative delineation between extrinsic and intrinsic outcomes and how these career outcomes may vary by gender. The purpose of this study was to investigate the under researched topic of career outcomes for MBA graduates through four research questions. One research question was designed to examine career outcomes from the aspect of quantifiable extrinsic elements, such as financial benefit and promotional opportunities. A second research question was used to examine the self-reported subjective benefits of the MBA, such as individual feelings of success, and perceptions of confidence. Gender was used as an intervening variable for both of these research questions to form two additional research questions. The research design was quantitative, employing the use of a selfdesigned on-line survey instrument. This was completed by 520 participants. The data collected in this research included both past and current perceptions of the value of the MBA and the relationship of the credential to current career outcomes for alumni in North America. Participants were purposefully solicited through Zoomerang, a market research company. Descriptive statistics and measures of central tendency were used as statistical measures to conclude that having an MBA does lead to positive career outcomes for both men and women. The retrospective sources of value encompass both extrinsic and intrinsic career outcomes for both genders equally. A univariate analysis of

variance (ANOVA) was conducted to assess if there were differences in outcome scores by gender. An interesting conclusion of this research was that gender did not prove to be a significant statistical factor in the degree of extrinsic and intrinsic career outcomes between men and women.

Dedication This dissertation is dedicated to my parents Effie and Jimmy Carlin, who prove time and time again that wisdom is not about the education you have or the letters you have behind your name, but about your drive, determination and humility. They are truly the smartest people I know. Their unwavering support, confidence and life-long encouragement in my efforts have made me the person I am today. I thank them for all the sacrifices they made to give me the opportunities I have been afforded.

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Acknowledgments This dissertation represents a pinnacle academic achievement in my life. My ability to complete this would have not been possible without the dedication and support of many individuals. First, I would like to express my appreciation to my excellent dissertation mentor, Dr. Lilburn Hoehn. Dr. Lils knack for pushing just hard enough and providing insightful and encouraging commentary were a great inspiration in completing this dissertation. His feedback and recommendations have made the project better and stronger than without him. I would also like to thank both Dr. Therese Kanai and Dr. Michael Williams for agreeing to work with me and participating in this monumental task. Both provided insightful feedback and their encouraging words always helped nudge me just a little bit further. It would have been impossible to complete this research without the hundreds of MBA graduates who took the time and energy to add to my research by completing this survey. Their insights and feedback were invaluable to the completion of this research and I thank each of them for sharing their experiences. Finally, I want to acknowledge my partner Catherine. Your commitment and dedication to this project at times surpassed my own. You were unwavering in your encouragement, even when I was exhausted and wanted to give up. You never cease to be my biggest fan and loudest cheerleader and for that I am grateful. I share every ounce of this accomplishment with you!

Table of Contents Acknowledgments List of Tables List of Figures CHAPTER 1. INTRODUCTION Introduction to the Problem Background of the Study Statement of the Problem Purpose of the Study Rationale Research Questions Significance of the Study Definition of Terms Assumptions Limitations Nature of the Study Organization of the Remainder of the Study CHAPTER 2. LITERATURE REVIEW Introduction History of the Master of Business Education The Big Business of MBA Education Why the MBA is Important to Business Why Pursue an MBA vi v ix x 1 1 5 8 11 11 14 17 19 20 21 24 24 25 25 26 33 36 36

Human Capital Theory Careerist Orientation Intrinsic versus Extrinsic Motivations and Benefits The Gender Dichotomy Chapter Summary CHAPTER 3. METHODOLOGY Introduction Research Design Sample Instrumentation / Measures Validity and Reliability Data Collection Data Analysis Ethical Considerations Chapter Summary CHAPTER 4. RESULTS Introduction Data Screening and Preparation Participant Characteristics Participant Current Employment Intrinsic and Extrinsic Career Outcomes Correlations Examination of Assumptions of ANCOVA vii

38 41 43 45 52 54 54 54 57 59 66 69 71 72 73 75 75 75 76 79 82 83 85

Research Question 1 Research Question 2 Research Question 3 Research Question 4 Chapter Summary CHAPTER 5. DISSCUSSION, IMPLICATIONS, RECOMMENDATIONS Introduction Discussion of the Findings and Summary of the Conclusions Recommendations Implications for Practice Study Limitations Chapter Summary REFERENCES APPENDIX Survey Instrument

86 90 91 95 96 98 98 98 104 107 111 114 116 123

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List of Tables Table 1. Test-Retest Reliability for Intrinsic and Extrinsic Career Outcomes Table 2. Frequencies and Percentages for Participant Demographics Table 3. Means and Standard Deviations for Age of Participants Table 4. Frequencies and Percentages for Current Employment Table 5. Means and Standard Deviations for Current Employment Table 6. Means and Standard Deviations for Intrinsic and Extrinsic Scores Table 7. Correlations between Demographic Variables and Intrinsic and Extrinsic Scores Table 8. Frequencies and Percentages for Items 25-34 (Extrinsic Career Outcomes) 68 77 79 80 82 83 84 87

Table 9. Measures of Central Tendency for Items 25-34 (Extrinsic Career Outcomes) 89 Table 10. ANOVA for Extrinsic Scores by Gender Table 11. Means and Standard Deviations for Extrinsic Career Outcomes by Gender Table 12. Frequencies and Percentages for Items 15-24 (Intrinsic Career Outcomes) 91 91 93

Table 13. Measures of Central Tendency for Items 15-24 (Intrinsic Career Outcomes) 94 Table 14. ANOVA for Intrinsic Scores by Gender Table 15. Means and Standard Deviations for Intrinsic Career Outcomes by Gender 96 97

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List of Figures Figure 1. Conceptual Framework Figure 2. Hypothesis Matrix 17 64

CHAPTER 1. INTRODUCTION Introduction to the Problem Discrimination based on race, ethnicity, religion or sex has been illegal in the United States since 1964, when the Civil Rights Act was passed (Gilbert, 2000). Under this legal protectionism, the representation of women into fields historically coveted by men has risen dramatically. In 2007 women represented approximately forty-six percent of the United States labor force (US Department of Labor, 2008). Historically women have been over represented in entry level and mid-level management positions (Ragins, Townsend & Mattis, 1998). Today, the focus has shifted away from females entering the workforce, to now, how females are represented in the upper echelons of the corporate executive offices (Ragins et al., 1998). Hu and Yan (2008), based on a comprehensive fourteen year analysis of the Standard & Poors Compustat ExecuComp database found that the proportion of women attaining executive positions has consistently increased from 1.37% in 1992 to 6.88% in 2005. Further to that, the number of women in top ranking jobs such as CEO and president has increased at a similarly progressive rate from 0.80% in 1992 to 4.31% in 2005 (Hu & Yan, 2008). As this example illustrates, employment opportunity may be gaining momentum, yet women are still nowhere close to a point of equality with men. Even in circumstances where women do reach points of relative career level parity with men and are when studied under control for age, experience and education; salary growth for women is still significantly behind that of men (Simpson, 2000a). Women are also found to be confined to a smaller number of management positions, have smaller 1

spans of control and tend to be more heavily concentrated in positions such as administration and personnel (Coe, 1992; Simpson, 1996). So while the access to opportunity seems to be widening in terms of gender, the relative parity between the sexes does not seem to demonstrate equilibrium. One strategy both men and women employ to increase their human capital and reach higher organizational positions is to equip themselves with the Master of Business Administration (MBA) credential (Simpson, Sturges, Woods & Altman, 2005). Women now account for 36% of the MBA graduates in United States (Catalyst, 2010). The MBA is perceived by many to be a worthwhile investment in human capital and this persona has helped intensify the demand for this degree. As a result there has been a dramatic increase in the number of MBA programs introduced in both North America as well as significant growth internationally (Simpson et al., 2005). Despite the popularity of the degree and the multi-billion dollars invested in the execution of the degree over the last 100 years, very little research has focused on the benefits of the degree and particularly how these vary between men and women (Simpson, 1996). Preliminary work mostly on the heels of Simpson (1996), has suggested that having an MBA does not help women as much as men in terms of subsequent career advancement and future performance in the corporate sector. General academic evidence seems to suggest that organizations value the MBA and that those that pursue the degree are more likely to advance their careers; but the issue of distribution of these advances between the sexes is much less clear (Simpson, 2000b). Academic researchers in the field of education have tended to question the value of the MBA regardless of sex. While significant debate surrounds its value (Pfeffer, 1977; 2

Pfeffer & Fong, 2002; Mintzberg, 2004; Pfeffer & Fong, 2004), most studies demonstrate positive career outcomes for those that attain the degree (AMBA, 1994; Connolly, 2003; Merritt, 2003). All of these studies though fail to consider gender as an aspect of variance in career outcomes. Academic works on gender relationships and women in management on the other hand, have tended to concentrate on the role and position of women managers; generally irrespective of their educational status (Simpson, 1996). Both academic disciplines have a left a research gap into the career outcomes of MBA graduates by gender. The Master of Business Administration degree is at the height of its popularity. Graduates with the degree are noted to be at the pinnacle of their careers and corporate business which has encouraged a steady stream of graduates, seem to have reached its most advanced stage of development (Mintzberg, 2004). Each year in the United States over 150,000 students with a freshly minted MBA degree descend on the economy, with ambition, drive and determination to increase their personal wealth and professional acumen (The Association to Advance Collegiate Schools of Business [AACSB], 2009). The pursuit of an MBA degree is often one of considerable sacrifice in terms of time, energy and financial requirement, particularly at the time when the student likely has full time employment and may be at point of having a family to contribute to (Simpson, 2000a). The relationship between educational attainment and labor productivity outcomes have been well documented in the literature (Florence, 2009). Productivity which is measured as the value of the output of an individual employee is a key contributor to the drivers of the firm. Based on this principle, the higher the level of labor productivity, the 3

more successful the firm; the more contribution of the firm, the greater the contribution to economic growth and prosperity at a societal level (Florence, 2009, p. 1). At an employee level, if one employee through personal investment in their own human capital is able to generate more productivity for the firm, than other employee at the equal cost, the former is said to be more productive than the later. Human capital theorists assert that education is a key element in attaining personal success (Becker, 1964; Baruch & Peiperi, 2000). As such the attainment of post graduate education and more specifically the MBA degree are wise investments in ones human capital (Sturges, Simpson & Altman, 2003). The earning opportunity and the perceived benefits of an MBA through studies have been well validated and support the assertion that the lifetime earnings of graduates of a MBA programs are higher than those with similar background without the same degree (Daniel, 1998; GMAC Graduate Management Admission Council, 2002; Sturges et al., 2003; Wellman, 2005; Florence, 2009). Organizations strongly demand the MBA credential from potential hires and their willingness to pay higher salaries to graduates and to finance degree completion by current employees, suggests that organizations feel these employees are more productive and therefore more highly rewarded than those without the degree (Florence, 2009). The desirability of an MBA education is consistently bolstered through frequent and intensive marketing campaigns and popular media who provide commentary on pay expectations and the rankings of most business schools (Mintzberg, 2004). The justification for pursuing the MBA from a strictly cost benefit standpoints supports the notion that the degree pays for itself (Connolly, 2003). Many researchers have focused on the evaluation of the program from a return on investment standpoint 4

and consistently point to the income improvements before attaining the degree (Connolly, 2003). On other factors related to career outcomes such as career development, mobility, satisfaction and personal growth, the perceived value of the degree is much more anecdotal in nature with studys finding mixed results (Buchanan, 2006). In addition, very little research has examined the disparity between career outcomes from the perspective of male and female differences. This researcher will examine the ways in which MBA education is associated with career outcomes for both male and female graduates. Background of the Study The quantification of career success has been a strong part of the debate surrounding the attainment of the MBA, yet very little research has specifically evaluated its outcomes for women. To date considerable research has focused on the economic value of the MBA and the cost benefit associated with it, without offering additional insight into other dimensions of career outcomes (Pfeffer & Fong, 2002) and more specifically if variances exist between male and female graduates. This researcher will examine the relationship of the MBA to the careers of males and females in a much broader sense and introduce the principles of intrinsic and extrinsic career outcomes as possible sources of difference between men and women. A significant volume of historical research which has examined female disparities in the workplace has emphasized the physiological, scientific, natural differences between men and women. Deemed the sex difference approach, it was borne from liberal feminism, and abounds in gender discrimination literature, to state that women need to enhance their individual attributes in order to compete on equal ground with men 5

(Fagenson, 1990). The approach argues that key natural differences between men and women can explain womens slower career progress and that women lack the expertise and acumen of career planning, which disadvantages them in career outcomes (Fagenson, 1990). Equal opportunity and affirmative action legislation popularized over the past decades is based on the idea that women themselves can alter their position in the labor market (Simpson, 1996). Burke and McKeen (1994) argue the women need to over compensate for the deficiencies in their career success and as such use the credentials of an MBA to provide them equal footing to men. Still (1992) referred to women requiring the skills of assertiveness and gaining the right skills in order to have any hope of reaching the levels of success men have. Conceptual research on gender differences and career outcomes is relatively under studied through empirical research. While a small number of studies conducted demonstrates that women compare unfavorably to men in terms of salary (Cox & Harquail 1991; Melamed, 1996; Simpson 1996, Simpson, 2000a; Simpson et al., 2005), and upward mobility (Grandjean, 1981; Cannings, 1988; Melamed, 1996; Simpson et al., 2005), no single study has looked specifically at an evaluation of career outcomes from those women that have chosen to equip themselves with the highly coveted MBA. Studies evaluating the link between human capital theory, which explicitly links higher education with positive career outcomes, are mostly centered on the principles of financial benefit and more specifically wage differentials of those with an MBA and those without. No study to date has looked more precisely at the self reported nature of both extrinsic, measurable career outcomes and intrinsic, subject career outcomes. 6

Further while some researchers in the field of education have found a link between extrinsic outcomes leading to further intrinsic outcomes, these have not been well documented and not specifically applied to the MBA program outcomes (Judge & Bretz, 1994). Research indicates that the MBA does help both men and women in terms of career progress, but that the impact to men is greater than for women (Simpson, 2000a). In terms of salary, the gender gap is wider and the men gain more advantage from the degree in terms of management function (Simpson, 2000a). Interestingly enough though, upon further investigation women by no means have felt disadvantaged or disenfranchised with their decision to pursue the degree; in fact most believe the degree has provided increased value over their career span (Simpson, 2000a). Upon interviewing over 200 male and female MBA graduates, Simpson (2000a) suggested that women experienced a wider range and in some cases a greater level of benefit from the MBA program than did men. Women noted how the MBA had broadened their networks, helped overcome a lack of credibility, lack of confidence and a tendency to be confused or overawed by the language of experts (p. 337). Men and women therefore appear to benefit differently from the MBA. In the latest comprehensive study of male and female MBA graduates by Simpson et al. (2005) confirmed earlier research from the United Kingdom, the United States and Canada to assert that gender does intervene as a primary influencer of career outcomes. While both men and women were perceived to have attained intrinsic benefits from the acquisition of the MBA degree, these did vary by gender. Men in the study were more likely to gain

confidence through the enhancement of their skill set; by comparison women gained confidence from feelings of increased self worth (Simpson et al., 2005). Statement of the Problem The volume of women entrants to the North American workforce has given a new sense of urgency to understanding the variability between the male and female differences in career outcomes, progression and expectations. There is particular academic and practical concern for how to more successfully integrate women into higher ranking management positions that have historically been coveted by men (Cox & Harquail, 1991). In the current business arena organizations are being forced to reassess their talent pool, this includes employee gender composition. As little as 25 years ago businesses in North America had the law of supply on demand on their side. There were more white males in the labor force than jobs available to them (Capowski, 1996). The talent pool was ripe with an ever circling array of workforce participants. As we approach 2010, this situation has changed dramatically. Today competition is heated and demographics have shifted. More and more organizations have to work hard to attract and retain top talent of both genders. Not only that, but the nature of work has changed and the demands to secure an ever shrinking customer base requires creativity and out of the box thinking. Organizations today see the positive business implications of creating an environment that attracts a diverse employee base and provides all employees with career advancement opportunities, of ensuring that their workforce reflects their customer base, and of promoting healthy and productive relationships among those stakeholders (Capowski, 1986, p. 13). 8

A number of studies exist to support the notion that over the long term employers in general perceive benefits from engaging women in the labor pool (Gunderson, 1994). In a competitive business climate women provide an untapped source of competent employees, plus by combining gender talents organizations are better able to exploit all resources (Gunderson, 1994). With a diverse workforce in place most business leaders believe that companies will be able to develop products and services for a new range of markets, attract a broader customer base, improve customer service, and increase retention (Jinzhao, 2007, p. 61). When assessing research on the gender dimension, comparable to general educational research, studies have focused most specifically on the comparable differences between men and women on the dimensions of compensation and promotion exclusively (Cox & Harquil, 1991; Melamed, 1996; Simpson, 1996). While Sturges et al., (2003) introduced the concept of evaluating extrinsic and intrinsic career outcomes measures of men and women MBA graduates, the research base was exclusively focused on the Canadian labor market. In order to compartmentalize and measure career outcomes management theorists have relied on the concepts of intrinsic versus extrinsic benefits (Young, Worchel & Woehr, 1998). Consistent with previous research, these same variables will be used to measure the career outcomes from having an MBA in this research. Intrinsic benefits are most often associated with job satisfaction and fulfillment, most notably feelings of increased self worth and value (Simpson, 1996). By contrast, extrinsic benefits are evaluated by items such as pay, number of promotions and status in a company, usually represented by span of control. 9

Across most research studies graduates perceived increased extrinsic value from their degrees, but the disparity between the outcomes is much different between the gender lines (Simpson et al., 2005). The overall picture suggests that male MBA graduates move ahead considerably faster than their female counterparts both in terms of pay and the pay gap; which continues to be wider even at the higher ends of the pay scales after completing the program (Simpson, 1996). Even greater disparity in outcomes has been noted in the literature when it comes to intrinsic benefits. In the same study by Simpson et al. (2005), participants noted greater confidence and enhances interpersonal skills in both internal and external relationships. Women much more than men noted intrinsic benefits such as feelings of improved self worth, empowerment and feelings of achievement from succeeding such a difficult and demanding program (Simpson et al., 2005). On the surface the current body of research seems to indicate the MBA students fare better than non MBAs in terms of career outcomes. When gender is introduced as a variable the MBA does not help women as much as men (Simpson, 1996). When career outcomes are distinguished along intrinsic versus extrinsic lines, the disparity continues, but women tend to see more positive career outcomes in terms of intrinsic variables such as confidence and empowerment over the extrinsic benefits of pay, status and promotion, more highly regarded by men. As demonstrated from an assessment of current research, a gap in knowledge exists on this topic, making it a research problem. This void in current research serves as the catalyst for the practical application of these research findings for both academic inquiry, as well as practical business application. This researcher will evaluate the career 10

outcomes both from an intrinsic and extrinsic perspective for individual working graduates who are both male and female and will uncover the variability in outcomes for both sexes. Purpose of the Study The purpose of this study is to investigate the under researched topic of the career outcomes of MBA graduates. The researcher specifically will address levels of attainment of both the quantifiable extrinsic factors of career outcomes, such as financial benefit and promotional opportunities, and assess the self reported subjective benefits of the MBA. Subjective aspects of career success are intrinsic in nature and are measured in terms of individual feelings of success with reference to these indices, such as perceptions of confidence, career accomplishments, job satisfaction and future mobility potential (Aryee, Chay & Tan, 1994). This study might fill a research gap, which currently fails to address the career outcomes of both men and women, in a well coordinated, simultaneous study using the same survey instrument, allowing for comparative analysis of outcomes utilizing the same dimensions for both gender groups. The outcomes of this study will aid researchers in understanding how the MBA program is related to perceived objective outcomes, such as increases in wage rates, promotional opportunities and organizational success; as well how the MBA is linked to perceived subjective outcomes, such as job satisfaction, self confidence and organizational mobility opportunity for both men and women. The findings of this research will contribute to literature associated with female discrimination and gender disparities in the workplace, as well as literatures associated with graduate education and career expectations. 11

Rationale This research will be grounded in the foundations of human capital theory and will perpetuate a greater understanding of the value of the MBA to both sexes. Human capital theory bore its roots from economics and principally the work of Theodore Schultz and Noble Prize laureate Gary Becker (1964). At the most basic application, human capital theory assumes that education is an investment, and the ability of an individual to succeed is heavily dependent upon the level of educational investment they undertake (Becker, 1964). MBA degrees as such have been universally considered wise investments in human capital (Sturges et al., 2003). A firms investment in human capital leads to higher rates of productivity, which leads to higher rates of output and higher revenues, thus those that make the highest investment in their personal human capital are rewarded as such through wages that are associated with an employees marginal contribution to the revenues of the firm (Cohn, 1979, p. 28). The concept of measurable outcomes from increasing ones human capital gained popularity in the 1950s and 1960s and led students to begin to look at education as an investment with a recognized return in hard dollars and outcomes (Florence, 2009). Various methodologies are at hand to analyze and evaluate educational rates of return including net present value and internal rates of returns. Researchers have gone further to evaluate monetary social returns by using various growth accounting approaches (Becker & Lewis, 1993; Psacharopoulos, 1987; Florence, 2009). Going beyond simple financial measures of human capital has gained popularity and now graduates look further beyond simple financial costs benefit analysis to understanding 12

the more socially constructed measures of career success attainment of the degree may yield. Consistent with Judge and Bretz (1994) and London and Stumpf (1982) career success is defined as the positive psychological, work related outcomes or achievements one has accumulated as a result of ones education, social and work experiences. As noted in the literature, career success is an evaluative concept and as such the measure and gauge of success depends on who is passing the judgment (Judge, Cable, Boudreau & Bretz, 1995). Most research on career success has focused on objective career success, defined by what can be readily measured; but career success can be judged by the individual pursuing the career (Judge et al., 1995). Accordingly the model for this study will follow the tenants of previous research, which includes measures of both objective and subjective career outcomes, defined by individual self reported accomplishments through the distribution of a questionnaire. Past research has supported a link between objective success and subjective appraisals, in that individuals define their success based, in part, on their objective accomplishments (Judge et al., 1994, p. 487). This relationship between objective and subjective success (Judge & Bretz, 1994) will be further operationalized through this dissertation. Many distinct manifestations of human capital including scholastic capital, innovation capital, career capital, organizational capital, intellectual capital, customer capital, structural capital, managerial capital, informational capital have been recognized in the literature (Judge et al., 1995; Florence, 2009). By completing a comprehensive review of the literature and evaluation of numerous criteria for 13

measuring the human capital variable of education it became necessary to define career success outcomes on only two dimensions for the purposes of compartmentalization. The first dimension of the model will be the objective criteria, which are based on extrinsic career outcomes, such as wage rate, number of promotions and organizational success; measured by span of control. The subjective elements characterized in literature as intrinsic career outcomes, such as confidence, enhances interpersonal skills, self worth, and future mobility opportunities (Simpson et al., 2005) will form the second dimension of the evaluation model. Both elements will be evaluated on the dimension of gender for the purposes of this research. These human capital elements, as well as the gender dichotomy will be explained more comprehensively in the literature review section. Research Questions The purpose of this research is to examine the relationship between self reported intrinsic and extrinsic career outcomes of individuals who hold an MBA from an accredited institution living and working in North America. More specifically the variable of gender differences between individual graduates will be examined for disparity. The research problem will be operationalized through the following research questions and appropriate hypothesis: RQ1. What perceived value added extrinsic career outcomes (salary increases, increase in the number of promotions, increased span of control) has the MBA degree provided the alumnus?

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Ha1: The MBA degree has provided the alumnus with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. Ho1: The MBA degree has not provided the alumnus with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. RQ2. What are the gender differences in extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) of MBA alumnus? Ha2: Men will have more favorable extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to women. Ho2: There will be no significant difference in reported answer by gender RQ3. What perceived value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self worth, future upward mobility opportunities) has the MBA degree provided the alumnus? Ha3: The MBA degree has provided the alumnus with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self worth, future upward mobility opportunities) as compared to before the degree. Ho3: The MBA degree has not provided the alumnus with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self worth, future upward mobility opportunities) as compared to before the degree.

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RQ4. What are the gender differences in intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self worth, future upward mobility opportunities) of MBA alumnus? Ha4: Women will have more favorable intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self worth, future upward mobility opportunities) as compared to men. Ho4: There will be no significant difference in reported answer by gender Independent variable. MBA attainment is deemed to be the independent variable for this research. Control variable. Other independent control variables will include age, work experience, industry, degree attainment before the MBA, and MBA specialization. Dependent variables. Career outcome which is segmented by extrinsic career outcomes and intrinsic career outcomes will be the dependent variables of this research. The objective element of the dependent variable is based on extrinsic career outcomes, such as wage rates, number of promotions and organizational success; measured by span of control (Simpson et al., 2005). The subjective element of the variable is characterized as intrinsic career outcomes, such as confidence, enhanced interpersonal skills, self worth, and future mobility opportunities (Simpson et al., 2005). Intervening variable. Gender will be the intervening variable for this research. Figure 1. provides a conceptual framework of the variables and their linkages.

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Independent Variable MBA Attainment

Dependant Variable Career Outcomes Extrinsic Outcomes Intrinsic Outcomes

Control Variables
age workexperience industry degree attainmentpre MBA businessschool specialization

Intervening Variable Gender

Figure1. ConceptualFramework

Significance of the Study This study is significant as considerable debate continues to circulate regarding the value of the program itself. Critics in both camps have critiqued the research methodology and approach of other researchers. Pfeffer & Fong (2003) criticized the research of Merritt (2003) by challenging any assumptions made when surveying the alumni of less than 10% of the accredited MBA programs and only focused on the top 30 schools, which cannot adequately discern the value of the program. Pfeffer & Fong (2003) go on to critique the research methodology employed by Connolly (2003) challenging the assumptions made with the same sample of students from one institution and the appropriateness of measuring economic return as an indicator. Pfeffer & Fong (2002) reviewed only three academic journal articles to make their claim that the MBA had little effect on a graduates salary or career attainment. The most basic reason such ambiguity exists on this topic is simply because the amount of research on the topic of MBA career outcomes is very limited, when addressing the question of gender the volume of research declines even further. 17

The relative scarcity of empirical evidence addressing such a significant investment of time and money should be a grave concern to business schools and those that run them. With many more business education programs opening each year the competition for the best and brightest candidates is quite heated. Due to a limited or contradictory view of the value of degree, business schools are not well positioned to decipher their value proposition in the marketplace and how to better market themselves to prospective students. This limited and yet contradictory research serves as a backdrop for progressing understanding through a carefully calibrated research study, which assesses both the extrinsic career outcomes typified by salary and promotion and the intrinsic career outcomes more represented by self satisfaction and self confidence. Over the past 7 years the number of women entering the MBA program has increased at a marginal rate of just over 5 percent (Catalyst, 2010). While the number of women entering the program is increasing slightly year over year, women are still not at a point of parity with males in the program. Providing substantive research information regarding the career outcomes of both male and female MBAs is important for many stakeholders. The first critical stakeholder of interest is the prospective student considering the degree. Since education is deemed a critical component of human capital development, it is essential that prospective students are able to weigh the cost/ benefit equation of pursuing the degree. For successful graduates of the program, this research provides an understanding of potential future outcomes offers greater insight into their marketability and mobility in the marketplace moving forward (Sturges et al., 2003). 18

This study will assist MBA program administrators in determining the value proposition of their offering. Since education has long been regarded as a way to increase ones human capital, business schools have historically coveted the merits of the degree as a way to increase wage rates, and job promotion. The advantage of this research will be to understand the value proposition of the degree and help modify the strategic direction of the program (Sturges et al., 2003). Further with gender delineation of results, administrators will be in a better position to tailor promotional material to the unique career outcomes inherent to each gender group. Finally, this topic is particularly relevant to the business communities at large who recruit, and retain these graduates through their careers. Authors have argued that it is corporations, not business schools that have placed such high value on the MBA degree and they have driven up demand and the growth of the MBA market (Gruber, 2001). For the greater business community at large, having a more conceptual understanding of the career outcomes of the MBA program will assist with recruitment efforts and assist in longer term career planning exercises. By understanding the variance in outcomes between men and women, employers are in the better position to begin to level the playing field for women and create programs and initiatives aimed at creating equilibrium of opportunity between the sexes. Definition of Terms There are a number of terms that have a specific meaning within the context of this dissertation. Career outcome. The extrinsic (wage rate, number of promotions and status in the organization; measured by span of control) and the intrinsic (confidence, enhanced 19

interpersonal skills, self worth, future mobility opportunities) measures that are used to gauge career success in this study. Human capital. Refers to the stock of competences embodied in the ability of the labor pool to perform so as to produce economic value for the firm (Becker, 1992). Salary. Current earnings before all taxes, inclusive of performance bonus, commissions and stock options. Span of control. The number of direct reporting employees one has working under them. Wage rates. Current earnings before all taxes, inclusive of performance bonus, commissions and stock options. Assumptions Assumptions are the propositions of research that are assumed to be factual, true or are accepted in the absence of validation or proof (Polit & Hungler, 1997). According to Walker (2003) five key assumptions are typically found within quantitative research, including theoretical fit, conceptual coherence, operational logic, empirical evidence and research merit. Theoretical fit is rationalized in this study through a conceptual framework which aligns with the research problem statement to test the career outcomes of male and female MBA alumni. Conceptual coherence implies the relationships of the various theories presented are able to generate testable, plausible explanations of the research questions (Walker, 2003). In this case the independent variables of MBA attainment, as well as other control variables are assumed to be related to career outcomes. Operational logic addresses the reliability of the research method (Walker, 2003). Since no instrument is available to use for this study, this researcher will take 20

elements of previous research and a new instrument will be developed. This instrument will be pre-tested and assumed to be an accurate reflection of the research questions and findings. As with all research it is assumed that the results of this research will provide empirical evidence across a broad field of academia and that the research will possess merit to make it scholarly valuable and applicable to both researchers, stakeholders and practitioners interested in the outcomes of MBA degrees. Limitations As with all research studies there will be a number of inherent limitations of this work. This study will encompass quantitative research design executed through a survey tool instrument. For the purposes of research tool adequacy, the assumption of equality in each interval of the survey instrument will be made for each response criteria. Each question will follow a Likert scale format which entails each response can be assigned a number and is equal distance in importance or ranking from each other. This assumption is important as it allows for the data collected to be analyzed as continuous variables and parametric statistical procedures can be used to compare the study participants (Cooper & Schindler, 2003). The sample used for this research will consist of a very large population of North American based World Wide Web users. From this population, participants will be recruited based on their affiliation with Zoomerang, a market research company. Due to the self selected nature of participation in Zoomerangs market research activities, the sample population is not entirely random. While the population is deemed to be large it may be that those respondents that participate in market research surveys and those that

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self selectively decide to participate in an on-line survey are not entirely representative of the general views of the entire North American alumni network. The third limitation of this research is that it is based primarily on self reported data which can create inherent bias. Kuncel, Crede and Thomas (2004) suggested that those with higher cognitive ability demonstrated higher reliability in reporting higher actual grades than those with lower cognitive ability. By using a sample of specifically MBA students for this research, the assumption is that they all possess higher cognitive ability and have been adequately screened through the MBA entry criteria. As a result it should hold that the self reported research answers will be generally more accurate because of the participants cognitive ability. The generalizability of the results of this research depends on the accuracy of the response sample provided by the participants. Studies of organizational behavior typically depend on the results that come from the participants themselves relating to the variables of interest (Buchanan, 2006). It therefore stands to reason that the people with the most intimate knowledge of the issue at hand are the alumni themselves and therefore they are best positioned to answer questions regarding their own personal career outcomes (Maurer & Tarulli, 1994). Unless undue pressure to provide desired answers or influences are exerted which this methodology does not do, there is no reason to believe the answers will be fabricated or untrue. All respondents will be in a position of complete neutrality and due to the anonymous nature of responses will have no reason to fabricate results. A further limitation is inherent since these data will be collected from post MBA alumni. As such participants will require some reflection on the pre-MBA experience, as 22

well as earlier career progression. Such data may be distorted with self justification and a recency bias (Baruch & Peiperi, 2000). While this is much less likely on objective data such as extrinsic career outcomes, there may be some tendency to mis-state the more subjective, intrinsic outcomes (Simpson et al., 2005). This researcher will exclusively explore self reported data from alumni; it fails to address the perceptions that other influencers or sources of evaluation may have. In particular this researcher will not evaluate those of equal career outcome who lack the MBA designation, those who manage or lead MBAs or MBA educators. It does not compare the outcomes of a group of MBA of both genders to a cohort of their peers without MBAs or those with other professional designations, particularly those with other post graduate work that may see themselves having made comparable contributes to their human capital. Finally, this study will be limited to individuals living in North America both during the education process and during their careers and as a result non North American students are not well represented in the study. Limitations will encompass the inability to generalize the outcomes on a global basis. This study will encompass a broad cohort of participants who have attended many different institutions across either the United States or Canada. As such this more heterogeneous group allows the researcher a higher level of generalization and external validity (Melamed, 1996) than studying one school alone. Nature of the Study This researcher will follow a quantitative design which will employ a survey research method conducted via a web based self-administered questionnaire designed by the researcher. This methodology type is favored for this research because the intent is to 23

gather data on opinions MBA graduates have regarding the outcomes of their graduate business career. Survey research was deemed to be the most efficient and practical means to gather this information in order to explore the relationship between the MBA degree and the career outcomes of both men and women considering a number of control variables. The output of the survey responses will provide the basis for statistical analysis and interpretation and allow the researcher to test hypothesis and make empirically derived conclusions from the data set. Organization of the Remainder of the Study Chapter 1 contains the problem statement, background to the study, the research questions, as well as review of the theoretical framework and theoretical basis for the relativity of the study. The relevant literature pertaining to career outcomes of the MBA program will be examined in the next chapter. A formal review of the history of graduate education will set the contextual framework for the introduction of the MBA program and its advancement as a noted educational credential. The chapter will contain and assessment of the current research base on education and the gender dichotomy, the chapter will also include the human capital theory, as well as the careerist orientation of MBA students as an impetus for attaining the degree. Chapter 3 will be a thorough explanation of the methodology the research employed including how data was be collected and examined. The findings of the research will be summarized in chapter 4 through a data analysis. In the concluding section of the dissertation; chapter 5, a summary of the study will be reviewed, as well as implication of the research and recommendations for future study.

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CHAPTER 2. LITERATURE REVIEW Introduction Relevant research on career outcomes for MBA alumni will be explored in chapter 2. At the outset a review of the history of the MBA program will provide a historical framework for the foundations of the degree. The business of the MBA is explored in the following section, with the intention of giving an overview of the growth and market penetration of the MBA and the business schools role as a key contributor to each universitys bottom line financial performance. In order to begin to contextualize career outcomes from the acquisition of an MBA, the importance of the degree to the corporate world is explored by the researcher in the third section. In the fourth section the researcher will present literature related to career outcomes demonstrating these as a means for motivation to pursue the degree. The human capital theory will be presented from the primary literature, as a key element in productivity and organizational outcomes; this is then linked with personal motivation, as well as intrinsic and extrinsic career outcomes. The final section will contain literature to explore the notion of the MBA from the perspective of the gender dichotomy. In this final section the researcher will explore literature pertaining to work on female discrimination, the glass ceiling and female human capital.

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History of the Master of Business Administration Education The formal introduction of business education can be traced back over a century to the University of Pennsylvania, who in 1881 set up a bachelors program in business (Mintzberg, 2004). Dartmouth College was the first school to offer a masters degree in business informally when in 1900 it allowed a few undergraduates to extend their course work by an additional year (Schlossman, Glesson Sedlak & Grayson, 1994, p. 6). Harvard University followed in 1908 with the introduction of a program called a Master of Business Administration. Stanford initiated its own program in 1925 (Mintzberg, 2004). In the early years of graduate business education, both Harvard and Stanford faced a great deal of controversy and skepticism from not only the business community, but also from underwhelmed students and cynical university faculty and trustees (Schlossman et al., 1994). Opponents noted that the push for university based graduate education in business was coming from academics, notably economists, psychologists, sociologists and political scientists most of whom lacked any real world business experience and had few if any ties to businesses or the men that ran them (Schlossman et al., 1994, p. 10). Nevertheless the advocates continued on their pursuit and were confident they could discover the underlying science of business and convey and teach this science to the future leaders of corporate America and thereby develop a new profession of management (Mintzberg, 2004, p. 22). By the end of 1919 only four MBAs had been granted from Harvard and enrollment was decreasing (Schlossman et al., 1994).

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From this early point on the growth of business schools were slow to take off, by 1915, 40 business schools had opened mostly focused on undergraduate studies. By 1920 110 masters degrees were granted (Gordon & Howell, 1959). Prior the beginning of World War II this number had climbed to 3,357 degrees granted from 143 institutions (Gordon & Howell, 1959). The end of the war marked a significant turning point for management education, as programs started to gain interest, enrollment increased and academic credibility was gaining a foothold (Glesson et al., 1993). The post war increase in MBA enrollment is credited by the many United States soldiers who took advantage of the GI Bill to help fund their education. This swelled the graduation numbers to over 5,200 degrees granted by 1958(Gordon & Howell, 1959). While this period demonstrated a growth in business school market success on an enrollment front, the criticism originally faced by business schools was still apparent. Through the 1950s business schools were accused of failing to meet the strict guidelines of academic rigor demonstrated in other disciplines (Wellman, 2005). Business education in a classroom was deemed to be irrelevant to most students, employers and to society because of the narrowness of the education itself (Gordon & Howell, 1959). Management at this time was being taught in a form of folklore and wise tales, as a collection of vague principals, none of which were proven or scientifically tested (Mintzberg, 1984). Even the top tier institutions of Harvard, Stanford, Columbia and Chicago were failing miserably and not reacting to the fast changing pace of business. The knowledge available to students through case study and textbooks were irrelevant to what was happening in the real world (Schlossman et al., 1994).

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Peter Drucker, well known and respected as leading business philosopher and writer articulated the key challenges business schools of the day were facing. According to Drucker (Daniel, 1998, p. 154): 1. Business is mainly learned through experience, and as such experience cannot be taught, as such what is the relationship between theory and practice 2. Business requires an entrepreneurial spirit, and risk taking, but business schools encourage conformity and a careful evaluation of risk and possibly a risk adverse attitude ensure in students 3. MBAs tend to be perhaps too ambitious and want to move up the corporate ladder too fast, perhaps not recognizing the value that comes with experience. The challenges articulated by Drucker were common perceptions of business education of the time. Many of these critiques continue to perpetuate and form the basis of modern day business school criticism, which critics continue to cite as disconnected from real world business situations and revolve around a culture of conformity, rather than risk and entrepreneurial spirit (Mintzberg, 1984; Daniel, 1998; Pfeffer & Fong, 2002). In response to the failing state of the US business school program, two major studies were in commissioned to consider the issues at hand, the first one by the Ford Foundation (Gordon & Howell, 1959) and the second by the Carnegie Corporation (Pierson, 1959). Both of these reports highlighted the dire situation facing US business schools and both were critical of an apparent lack of academic respectability and undervalued vocational training to low grade students (Gordon & Howell, 1959; Peirson, 1959). The Gordon & Howell (1959) report in particular called for releasing more faculty time for scholarly 28

activity and formal research (p. 391). The Peirson (1959) report contained much of the same message with a strong concern towards the integration of academic subjects, increased academic standards, the seriousness of academic work and again a primary focus on research. According to Peirson (1959) it is only through the adoption of these steps that effective managers could be made through formal university training program (p. 81). In the decades following the reports many of the recommendations were adopted including, the recruitment and training of higher caliber faculty, a major overhaul of the teaching curriculum, as well as the deliberate introduction of research requirements and the introduction of PhD programs in business to formalize research roles (Florence, 2009). Other introductions included the development of the business school accreditation agency (American Assembly of Collegiate Schools of Business [AACSB]) as an oversight agency, as well as raising admission standards and criteria (Wellman, 2005). These changes brought along with them a new level of respect for business studies on academic campuses. Research came to the forefront and doctoral programs began to flourish, as business schools began to take their place alongside other academic and professional programs (Mintzberg, 1995). The stage was now set for the growth of business education in the United States and demand for enrollment in MBA programs increased through the 1960s and 1970s. Substantial marketing efforts started in the 1970s, well coordinated with the advent of ranking programs marketing the perceived best and most prestigious schools (Florence, 2009). With this came promotion of MBA as a ticket to a lucrative career, thus further enhancing interest and demand in the program. Mass media caught on with schools 29

publishing salary rates and job offer for potential MBA graduates. As enrollment continue to climb, public interest was fueled, the volume of prospective students began to outweigh supply, the MBA became for many schools a key source of funds for less popular departments and academic disciplines (Florence, 2009). During the 1970s in the United States, over 387,000 degrees were granted (Florence, 2009). This was more than the total number of degrees awarded since the inception of the program seven decades earlier (Florence, 2009). Throughout the 1970s the growth in the number of critics of the MBA program seemed to be gaining equal force to advocates and were lashing out at schools that were deemed to be ill preparing graduates for actual business careers (Daniel, 1998). By the start of the new decade, the criticisms were getting louder and more intense, critics continued to assert that the business education model was not suited to the business needs of the future (Muller, Porter & Rehder, 1988). Critics of business education included both business leaders and more shockingly MBA graduates who felt that business schools offered minimal value to them in their career outcomes and challenged the degree as nothing more than the repackaging of undergraduate business studies (Wellman, 2005). Business education was on the attack from those most intimately linked to its career outcomes. In yet another response to this backlash, academia called on researchers to assess these assertions. The AACSB hired Lyman Porter and Lawrence McKibbin to evaluate the state of business education and its internal and external constraints. The researchers took a wide lens perspective visiting schools, speaking with educators, interviewing students and meeting with corporate executives. Their report was published in 1988 30

validated many of the criticisms in the market, including a lack of integration in subject matter, a lack of context to managing people and a lack of international focus. Heavily highlighted were the lack of real business experience with business faculty and a lack of desire to interact with the business world (Porter & McKibbin, 1988). Following the Porter-McKibbens report (1988), the AACSB introduced a new level of standards for MBA school accreditation. At the forefront of the sweeping changes suggested was a requirement for business schools to be more mission driven and stakeholder centric (Porter & McKibbin, 1988). While the fallout of the Porter and McKibbin report of 1988 continued to ignite the critics and provided little more than affirmation of what they had long believed, the number of MBA degrees awarded continued to grow. With fuel from mass media reports and highly developed marketing programs, the MBA program continues to be portrayed as the ticket to success, leading to large and lucrative compensation packages. Yet through the decade criticism continued to rally ahead with major names in academia challenging the notion of whether management could actually be taught and if the classroom was actually an effective ground for the development of a manager (Mintzberg, 2004). As noted by Mintzberg (2004) most management is a craft, meaning that it relies on experience- learning on the job. This means it is as much about doing in order to think as thinking in order to do (p. 10). According to Mintzberg MBA programs teach people at the wrong time in their career and as such as MBA happens too early in ones career, it attracts the wrong people that are too impatient, too analytical and too much need to be in control and gives the wrong impression that management is

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something you can teach distorting their subsequent leadership practice (Mintzberg, 2004). Curriculum changes provided a shift toward more reality based teaching in response to this extensive criticism, attempting to take theory and turn it into reality based teaching. In addition the 1990s saw the first dramatic introduction of the international MBA program signaling an increased interest in the globalized economy and worldwide business interest (Florence, 2009). Many developing nations, including India and China introduced programs which began to flourish. Europe alone opened up over 400 new Master in business programs through the later part of the 1980s (Daniel, 1998). Curriculum again took a shifting focus towards international based business and found new favor in courses focuses on ethics, quality and social responsibility, as schools tried to directional shift to the pressing issues affecting business of the time (Florence, 2009). At the end of the first decade of this new century, management education is big business and is a far reaching global phenomenon. In 2009 150,000 students were enrolled in MBA programs in the United States, another 89,000 globally; most are expected to graduate (AACSB, 2009). As tuition continues to climb, so too do rates of application and enrollment. The MBA program continues to be a flagship programs for many universities and at the core of most business schools. While critics of programs remain vocal, numerous studies have focused on the demonstration of the positive aspects of obtaining an MBA degree. The Graduate Management Admission Council (GMAC) recently released a study, where graduates reported overwhelmingly being extremely satisfied or very satisfied with their career outcomes since graduation (GMAC, 2002).

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While criticism has continued unabated, business education has persisted and flourished. The industry is booming. Since the beginning of their history, business institutions have faced opponents and skepticism, but they continue faced this opposition with renewed optimism. While the debate continues without consensus over the relevance of business education taught in a classroom, corporations have continued to turn to MBA graduates as a source of recruitment for tomorrows future business leaders (Wellman, 2005). Enrollment rates seem to show no sign of decline, in fact student population growth is planned at most major business schools (Wellman, 2005). The motivation and long term perceived career outcomes offered from an MBA from a students perspective seems unwavering even in the face of criticism. The Big Business of MBA Education Business school is big business. Business schools market and brand themselves as businesses. Similar to any business institution they have top and bottom line financial demands and business schools have become the trademark and funding mechanism for many other underperforming program that universities offer (Florence, 2009). The popular media has become a major source of marketing and a sales strategy for many business schools. This is fueled by the introduction of scholastic rankings. The current media rankings programs have gone beyond the assessments of solicited studies from the AACSB and allowed for the ability to assess data and perceptions; positioning schools relative to others in the marketplace. In November of 1988, Business Week Magazine published the first of what was to become an ongoing ranking program of business schools. The nations best business schools donned the cover of the November 28th, 1988 issues and became a virtual best 33

seller as soon as it hit newsstands (Byrne, 1990). At last count it is believed there are close to thirty-four different rankings completed annually (Crainer & Dearlove, 1999). On a positive note rankings are believed to make schools more responsive because students, faculty and recruiters may be polled (Mintzberg, 2004), and are believed to be central in movements toward curriculum re-design and public relations efforts. By contrast though rankings continue to receive considerable criticism as nothing more than a publicity stunt and are not pivotal in moving schools in the right direction focused on improved educational performance (Mintzberg, 2004). Critics believe that because of rankings, innovation is discouraged because most ranking programs award points for conforming to standards, as such innovative or novel programs get dismissed in the rankings or are punished with unfavorable scores (Mintzberg, 2004). More serious than this, is the notion that ranking programs simply fuels a desire for manipulation. According to John Byrne, who started all the rankings in Business Week schools lie and that much like students schools play games to get better grades (Mast, 2001. p. 23). These include a wide variety of noted tactics, such as increasing services to recruiters, including valet parking, free meals and gift baskets, to the elimination of not for profit programs and other MBA majors that produce graduates who are place in low salary positions (Policano, 2001). Further most school rankings are actually completed by former students; therefore it is unrealistic to think that alumni would intentionally devalue their own degree by discrediting the institution. As such the scientific merit of the ranking program as an indicator of how good or bad a program may be simply lacks credibility.

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It may be easy to dismiss the notions of rankings as simply a way for schools to notch themselves up the pecking order, but marketing in whatever form continues to influence buyers and as such prospective students are keenly interested in what the rankings have to say. Open up any mainstream business magazine and bear witness to ads representing themselves as the holy grail of corporate success. Newest, world class, know how, fast moving managers, managing the skills are all words and phrases that appear in MBA recruitment brochures to entice and attract prospective students (Mintzberg, 2004. p. 76). Critics contend though that academic institutions have a role to play in society that goes beyond simply the acquisition of profits and more holistically to expand the thought process of society. As noted by MBA critic Henry Mintzberg (2004) business schools do not exist to grow and diversify, to run around the world creating alliances, to exploit their brand and sell their name. They exist to generate knowledge and encourage wisdom; nothing more (p. 77). Business schools continue to be big players in the business circuit with millions of dollars in tuition, scholarships and endowments funneling through the programs each year. While rankings have opened schools up to another form of visual transparency, it is noted that there is some question of the credibility, manipulation and purpose that rankings offer (Mintzberg, 2004). The bigger criticism comes in the form of distraction and questions surrounding the intention of business school administrators. Has the business of running the business school distracted attention away from the effectiveness of developing business leaders? According to Mintzberg (2004) to get that answer will

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require something beyond top and bottom lines, beyond numbers, toward values, beliefs and judgments (p. 80). Why the MBA is Important to Business The MBA has become a very well recognized credential in the business world. Since educational institutions are considered the primary catalyst for teaching and educating managers, it seems obvious that business schools are a prime recruiting ground for talent. As such having an MBA provides employers with a recognizable way to screen applicants and it provides a prospective employer with confidence knowing that some basic business acumen will be understood (Mintzberg, 2004). In some cases employers go as far as to admit they use the MBA as a selection criterion for candidates, not because of what the person has learned, but rather to piggyback on the usually high and rigorous standards required for business school admission (Florence, 2009). Accordingly, business schools have been described as expensive employment agencies (Samuelson, 1990. p. 49). In a Business Week survey of over six hundred senior executives it was revealed that the majority felt an MBA had little to do with job performance and makes little differences in employee merit or ability. However, these same executives admitted that their companies interviewed only MBAs for their management training program (McGill, 1988. p. 76). Some authors have gone as far as to argue that the increased value put on the MBA by the job market in corporate American are the primary reason behind the growth of the MBA market (Gruber, 2001). Why Pursue an MBA The MBA degree is one of the most sought after professional graduate degrees. While the motivation for enrolling in the degree encompasses a wide variety of reasons, 36

most researchers contend that what motivates one to pursue a master degree in business is quite different for why they elected to take an undergraduate degree (Mackenzie, 2003). It is well cited that while under-graduate degrees have a career element to them, they tend to be generalist in nature and focus on developing a well rounded student with a plethora of different experiences (Buchanan, 2006). By contrast the master of business program provides for more focused interest and specific education on topics relating to leadership and operating in a business setting (Mackenzie, 2003). Management education like education in general is an investment in human capital. Many studies support the notion that investments in education particularly the MBA support a lifetime of improved earning potential than those without the same degree (Wellman, 2005). In 1988, researchers Stolzenberg and Giarrusso conducted a survey of 2,053 first year MBA students from 91 graduate business schools across the United States. The intent was to uncover why these students chose to pursue a graduate degree in business. The four most cited reasons included career entry opportunities and mobility, to develop skills and management acumen, to gain personal satisfaction, and finally to make more money (Stolzenbery & Giarrusso, 1988). The motivation to return for graduate studies in business can be explained with the application of expectancy theory. Vroom (1964) developed expectancy theory as a way to understand job satisfaction and work motivation. Based on the theory as proposed by Vroom (1964) a rational person will make choices based on the belief that (a) the choice has value (valence), (b) the action to be taken will result in a reward (instrumentality), and (c) he or she is capable of taking that action and achieving the desired reward (expectancy) (Wellman, 2005. p. 24). Porter and Lawler (1968) have 37

rationalized the theory further to encompass the relationship between successful performance, receipt of outcomes and the influence of motivation. Under expectancy theory the value of an outcome is determined with how that outcome will come to satisfy ones needs; the higher the level of satisfaction, the greater the level of motivation to attain such. Tracing roots to Maslows (1954) hierarchy of needs, which encompass physiological, safety, social, esteem and self actualization, expectancy theorists emphasize psychological needs as motivators towards the personal acquisition of further education. Value is seen as the work or significance of an action ascribed by a specific outcome or consequence of an action (Porter & Lawler, 1968). The motivation for obtaining an MBA can be based on all or any of the following, mobility, skills development, personal satisfaction and financial gain (Stolzenbery & Giarrusso, 1988). The debate thus continues to exist between scholars not about the linkage between expectations and motivation, but more critically between the validity of this link of human capital theory and positive career outcomes. Does having an MBA actually advantage the recipient and provide them enough human capital to provide advantage in the workplace? Human Capital Theory The application of human capital theory views employees as a resource with a defined value in the marketplace. The personal attributes of each individual employee varies in form and value, these attributes are converted into rewards in the greater labor market (Melamed, 1996). The application of education to this theory implies that through education one adds to the value of their personal attributes and as such leads to higher valuation compared to others without the same skills. Human capital theory states 38

that education is an investment, and that the ability of individuals to succeed is highly depending on the level of educational investment they make (Becker, 1964). According to classical labor theory, value of the firm is dictated by the productivity of the its workers and since higher productivity leads to higher returns, as such wages of those employees are determined according to the that employees marginal contribution to the revenues of the firm, implying that more productive workers will be paid more, other things equal (Cohn, 1979. p. 28). The more human capital an overall population possesses, the higher the overall productivity of said population (Steward, 2009). This sentiment led to the notion that education is an investment in increased productivity and was a prime argument through the 1950s and 1960s towards public investment in socialized education (Florence, 2009). Human capital is not actually the knowledge and skills acquired, rather it is the fact that the investment in education which causes some change in the human; this change leads increased potential for productivity (Florence, 2009). Independent of the knowledge gained in a post graduate business degree, the attainment of such a program acts as a signal of abilities. The ability to dedicate oneself and complete such an arduous task provides a sign of motivation and personal character even when those direct skills may not be fully required for the task at hand (Buchanan, 2006). This signaling prospective suggests that it is not higher productivity that leads to higher earnings, but rather than credential itself (Florence, 2009). Proponents of human capital theory would assert that education is a key element in achieving individual development and life success (Baruch & Peiperi, 2000. p. 69). In light of that assertion the MBA degree is widely accepted as a key element to career 39

success. Attaining an MBA under this theory would support research which demonstrates that having an MBA is the ticket to a senior leadership role and a highly lucrative salary (Baruch & Peiperi, 2000). A survey conducted by Accountemps found that 80% of top executives say that a graduate business degree is critical to achieving senior management rank (Yerak, 2000). Higher pay for MBAs has been validated through academic research (Connolly, 2003) and many researchers support the contention that the lifetime earnings of those individuals with an MBA are higher than the lifetime earnings of people with a similar background, but with without a MBA (Daniel, 1998; Graduate Management Admission Council, 2002; Sturges, Simpson & Altman, 2003; Wellman, 2005; Florence, 2009). Even in light of this, researchers continue to be divided on the long term increased value of the MBA over the span of ones career (Buchanan, 2006). Critics contrast all sentiment of positive career outcomes and contend that the MBA is overvalued by both employers and MBAs themselves (Pfeffer & Fong, 2002; Mintzberg, 2004). Critics of the MBA and its human capital value challenge the notion that degree attainment is a catalyst for career success (Pfeffer & Fong, 2002). Henry Mintzberg is a notable critic of the MBA concluding that business schools train the wrong people in the wrong ways and ignore the extent to which management is a craft that required intuition rather than merely an ability to analyze data (2004). There is little evidence that the mastery of the knowledge acquired in business schools enhances peoples careers, or that even attaining the MBA credential itself has much effect on graduates salaries or career attainment (Pfeffer & Fong, 2002. p. 80). Pfeffer & Fong (2004) go further to say that the MBA programs focus on economic returns which in turn put pressure on business 40

schools to ensure their alumni achieve lucrative career success. The focus is too heavily weighted on the value and role of the credential and as such reduces the emphasis on the educational experiences of learning, knowledge and the skills that are increasing the capital gained from the program (Pfeffer & Fong, 2004). Careerist Orientation Research has shown that business students are more likely than almost any othersto view education primarily as a stepping stone to lucrative careers (Rynes, Trank, Lawsome & Llies, 2003. p. 270). According to a UK based study, over 90 per cent of students who take MBA degrees do so to improve their career outcomes (Council for Excellence in Management and Leadership, 2002). The careerist approach is typified by the use of an advanced degree to personally advance an individual worker through learning and educational development. Those subscribing to a careerist orientation seek relationships and the acquisition of knowledge that will open up opportunity for their personal career interests. The opportunistic use of an MBA is consistent with the literature on the careerist approach whereby learning; educational growth and personal development are acquired to maximize personal advancement (Pfeffer & Fong, 2004; Buchanan, 2006). Theoretical work on the advancement of this approach by Feldman and Weitz (1991) support this notion through research. By developing a careerism scale and studying motivational factors, the researchers demonstrated that those exhibiting high career orientation were most inclined to increase their levels of education through the acquisition of an advanced degrees, including masters degrees. It was demonstrated that these individuals also

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exhibited strong positive tendencies towards career mobility and the consistent desire to advance in careers (Feldman & Weitz, 1991). In the current business climate employee, employer relationships are more typically marked with shorter term, transactional type relationships (Buchanan, 2006). Fewer employees have life long careers and more often than not employment relationships lack personal involvement and long term reciprocal relationships. These most recent employment relationship trends put the onus of responsibility for ones career progress and mobility squarely on the employee themselves, rather than upon the employer (Peiperl & Baruch, 1997) and as such employers are more apt to be self serving in their career interests and see the acquisition of advanced business degrees a means to create more opportunity and future mobility opportunities (Feldman & Weitz, 1991). Implicit with the careerism ideology is that belief that personal self interest dominate decision making and motivation, the concept of the organizational commitment is far less existant (Aryee & Chen, 2004). The careerist motivation to the acquisition of the MBA has been criticized in the literature. As noted by Pfeffer and Fong (2004) schools must live up to the far reaching promises of career success they offer students as a marketing technique to attend their schools. As an outcome they become more of a signaling, screening and placement service, than an educational institution (Pfeffer & Fong, 2004). Schools have also been under scrutiny for their tough entrance criteria, but their inability to really sort students once in the program, this is noted in the fact that few if any students ever fail out of the programs (Anderson, 1995). Students in some studies have been shown to more

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interested in the extracurricular elements of their schooling and are more interested in networking. Intrinsic versus Extrinsic Motivation and Benefits Having an MBA is perceived to be a passport to managerial success (Baruch & Peiperi, 2000). The investment in an MBA education is considerable when noting the financial burden of tuition and materials, time and the opportunity costs associated with suspending ones career (Baruch & Leeming, 2001). As a result of the personal nature of the decision to pursue a MBA, researchers have become increasingly interested with individualized motivators and longer term career outcomes for attaining increased education over ones life. At the outset of their decision to pursue higher education, students often assert that motivations include career related interests and prospects; such gaining competencies required for success (Baruch & Leeming, 2001). The challenge of meeting and succeeding at a goal are also noted motivators for engaging in the program, as a way to demonstrate personal fortitude (Baruch & Leeming, 2001). Based on research of 344 MBA graduate alumni, Baruch & Leeming (2001) found the primary value add of the MBA went beyond salary and career mobility, but was chiefly found in the increased level of satisfaction gained from achieving personal goals and competencies. Given this the researchers assert that the most important measure of MBA outcomes is the degree of achievement of personal aims (Baruch & Leeming, 2001. p. 600), many of which are not recognized until after the program is completed. Researchers on post MBA outcomes have evaluated at length a number of objective career outcomes, mainly centered on salary and promotional opportunities. The 43

earning opportunity and the perceived promotional benefits of an MBA have been well validated in the literature and assert that lifetime earnings for MBA alumni is higher than for those with similar background, but without the degree (Daniel, 1998; GMAC Graduate Management Admission Council, 2002; Sturges et al., 2003; Wellman, 2005; Florence, 2009). The justification for pursuing the degree strictly on the heels of cost/ benefit support that the MBA degree as a solid investment (Connolly, 2003). Beyond these highly measurable financial outcomes, very little research has focus on other more personal outcomes. When researchers have studied other factors related to career outcomes, such as career development, mobility, satisfaction and personal growth, the perceived value of the degree is much more anecdotal in nature with studys finding mixed results (Buchanan, 2006). More recent research studying MBA career outcomes from a perspective of gender differentials has come to include both intrinsic benefits and extrinsic benefits (Simpson et al., 2005). Intrinsic benefits references subjective elements, which include job satisfaction and fulfillment. Extrinsic benefits such pay and status rewards are the more objective outcomes employees expect from employment (Simpson et al., 2005). With similar findings to historical research, this body of research indicates important extrinsic benefits of the MBA which are well documented in academia and the mass media, but also point to a strong series of intrinsic benefits as additional career outcomes from the degree. Data from both the United States and the United Kingdom support the relationship between the MBA and career improvements, both in terms of seniority, business leadership, personal growth and improved organizational output (Simpson et al., 44

2005). In a 1999 US based study, Kretovics (1999), found that the MBA degree added significant skill value for graduates including information analysis, sense making and initiative. In accordance with previous research Simpson et al., (2005) found that most students motivations for pursuing the MBA initially are based on extrinsic ideals, but over the life of their career and upon reflection note a series of intrinsic benefits the degree provided. In every case the 225 survey respondents from their study believed they had advanced their career, gained financial advantaged and benefited from acquiring the hard skills, particularly financial and data analysis skills (Simpson et al., 2005). In the same study by Simpson et al. (2005), participants noted greater confidence and enhances interpersonal skills in both internal and external relationships demonstrating strong links in the literature to both intrinsic and extrinsic career outcomes. The Gender Dichotomy A considerable body of research has focused on the raging debate of the economic value of the MBA and the long term value of masters level education. What has been less explored is the relationship to the Master of business degree and the career outcomes variances between genders. Much of the research on gender differences between MBAs exclusively explores wage differentials between the sexes. These studies suggest that women, even with a MBAs do not receive the same level of remuneration as men (Simpson, 2000b). Women currently constitute nearly half of the United States labor force, yet less than 11 % of executive posts are filled by women (Bando, 2007). Focus has shifted from the volume females entering the workforce, to now, how females are represented in the upper echelons of corporate executive offices. In 2009, 15 women lead Fortune 500 45

firms, representing only 3% of the top jobs, this was up from only 12 in 2008 (Smith, 2009). While employment opportunity may be at a better point of parity between both sexes, there is still something discriminatory that prevents women from advancing to the same level as their male counterparts. This invisible barrier towards the advancement of women in business has been dubbed the glass ceiling phenomena (Ragins, Townsend & Mattis, 1998). The term glass ceiling was first introduced by researchers in the 1980s (Morrison, White & Van Velsor, 1988). The term was popularized through this period in the Wall Street Journals Corporate Women column that used the term repeatedly to symbolically represent the failure of females to match the career success of their male counterparts. In 1988 Morrison, White and Van Velsor conducted the first large scale US study of female executives and their male counterparts and measured career variances between the sexes. Based on research it was noted by men and women that an invisible barrier to career success seemed to be preventing women from advancing at the same rate as men (Morrison et al., 1988). The term glass ceiling was later extended beyond gender discrimination to refer to the obstacles hindering the advancement of all disadvantaged groups (Wellman, 2005). The phenomenon of the glass ceiling has come to be a widely accepted explanation for why minorities and women have failed to match the managerial success of white American males. In general, when overall levels of career attainment are measured in terms of wage rates and advancement between men and women regardless of education, it is consistently demonstrated that women do 46

not fare as well as men (Catalyst, 2003; Judge et al., 1995; Wellman, 2005). Further, research evidence suggests that when women are evaluated in the workplace by their superiors; they are scored much more harshly than their male counterparts (Landy & Farr, 1980; Kraiger & Ford, 1985). These research studies indicate that it is harder for women to do as well in their jobs and be recognized for their accomplishments, thus inhibiting their career success, progression and career satisfaction. Since women face barriers to their career success that men do not experience, it seems plausible that their routes to career success vary considerably from the routes to career success undertaken by men. Research arguments have contended that the career routes of women tend to be different and as such explanatory variables for the differences between the genders, yet even when women make the right occupational choices, obtain the same qualification and opt not to take career breaks, they did not fare as well as men in their outcomes. Studies which have assessed the impact of gender on wage gaps suggest that about 55-75 per cent of it is attributed to discrimination as opposed to individual character differences (Melamed, 1995; Melamed, 1996). Despite significant advances in female participation rates in the workforce, the situation for women is still different than that of men. Occupational segregation is persistent across numerous industries which restrict women from a variety of jobs (French, 2001). The reasons for female under-representation are varied and complex. They range from segregation based on ideologies about female skills, to customary and legal constraints, to attitudinal differences regarding the value that women can bring to occupations otherwise dominated by men. In the current business arena organizations are being forced to reassess their talent pool, this includes employee gender composition. As 47

little as 25 years ago businesses in North America had the law of supply on demand on their side. There were more white males in the labor market than jobs available to them (Capowski, 1996). The talent pool was ripe with an ever circling array of workforce participants. As we approach 2010, this situation has changed dramatically. Today competition is heated and demographics have shifted. More and more organizations have to work hard to attract and retain top talent of both genders. Not only that, but the nature of work has changed and the demands to secure an ever shrinking customer base requires creativity and out of the box thinking. Organisations today see the positive business implications of creating an environment that attracts a diverse employee base and provides all employees with career advancement opportunities, of ensuring that their workforce reflects their customer base, and of promoting healthy and productive relationships among those stakeholders (Capowski, 1986, p. 13). Ever increasing demands in the global marketplace put strains on businesses for organizational efficiency and thus a need to retain top talent to run those organizations effectively (Capowski, 1996). The future success of any organization is based on that organizations ability to manage a diverse body of talent. It is only through diversity that a business can hope to encourage innovative ideas, perspectives and unique views to their work (Jinzhao, 2007). While many are quick to note the challenges with implementing workforce diversity, Jinzhao (2007) suggests that workforce diversity can be turned into an organizational asset, if that organization is able to capitalize on this melting pot of unique talents. Todays organizations must be sensitive to the multi-faceted 48

nature of diversity. Points of disparity between individual workers can come in many forms, from differences in gender, ethnicity, personality, family status, age, marital status, religion, sexual orientation and a variety of other features. As such, businesses have to juggle and manage many intersecting issues surrounding what diversity actually means. When measures of career success are enacted it is clear that women are still actively discriminated against and as such have lower levels of success than men with equal training and credentials. Numerous studies on the value of the MBA to women have demonstrated that women consistently fare less well in earning compared to their male counterparts (Cox & Harquail, 1991). Similarly women tend to demonstrate lower attainment in hierarchical level attainment and have fewer management promotions through their career than men with similar experience, education, age and career paths (Cox & Harquail, 1991). When measuring male and female career discrepancies researchers have sought to discover identifiable differences attributable to differences in career path. One such explanation focuses on higher levels of work-family conflict and career interruptions for women (Cox & Harquail, 1991). It is presupposed under this notion that the demands of marriage, child rearing, household chores and pregnancy are much greater for women than for men and as such affect the success of women through less seniority and perceived dedication to their careers (Cox & Harquail, 1991). Counter to these notions researchers are varied on their opinions on the affect of work family conflicts and as stated in research by Tucker (1985) gender differences in career outcomes cannot by fully explained by work-family conflict issues (Cox & Harquail, 1991, Simpson, 2000a). 49

Further, researchers have tried to seek explanation in the career outcome differences of men and women by rooting them in prevalent discrimination against women by their employers and their management. Prominent in this viewpoint in the ideology that stereotypical view and prejudice against women in management are often manifesting in involuntary differences in career paths such as inability of women to gain access to line jobs and job class segregation (Cox & Harquail, 1991. p. 55). In her extensive research on the career outcomes of female MBAs Ruth Simpson has explored the benefits of the MBA to both sexes. Her seminal research, as well as numerous add on studies have consistently demonstrated that the benefits of the MBA do in fact differ along gender lines (Simpson et al., 2005). The data from these studies concedes that men may be more likely to gain extrinsic benefits in terms of salary, status and marketability; women by contrast are more likely to gain intrinsic benefits such as increased confidence, enhanced credibility and more effective interpersonal skills (Simpson, 1995; Simpson, 1996; Simpson, 2000b; Simpson et al., 2005). In the most recent study of career outcomes, researchers determined that both men and women gain intrinsic benefit from the MBA, however these intrinsic benefits do vary by gender (Simpson et al., 2005). Men in this study demonstrated confidence from having a full skill set brought on by having an MBA; women by contrast gained their confidence from feelings of self worth from the basis of their accomplishments (Simpson et al., 2005). A recent report by Catalyst (2000) indicated that men with MBAs have advanced further both in terms of line position and reporting span of control than women and that although men and women are equally likely to value their MBA, men are significantly 50

more likely to value their career outcomes and progression after attaining the degree. Cox and Harquil (1991) affirmed this finding by supporting the notion that there is no significant difference in between men and women in terms of career satisfaction, women MBAs graduates had far less promotions than males controlling for other variables. While evidence seems to support the notion that men fare more positively in terms of career success, the issue of other intrinsic benefits for men and women seem less clear. Women are more likely to describe the MBA as an eye-opening experience that encouraged self confidence and self belief and gave them greater credibility within the organizational context (Simpson et al., 2005). Researchers have hypothesized why women dont fare as well as men even when compared across similar personal and educational attributes. Three prevailing bodies of thought seem to permeate the literature. Fist is the duality of roles that women must face between their career and their family life. Coe (1992) concluded from her research that the demands of juggling a female leadership career role and the demands of a traditional female family role have simply defeated many women. Coes (1992) study found a strong correlation between adverse career effects and having children in women with MBAs. The perpetuation of attitudinal barriers continues to abound in the research as a serious impediment to women and this appears to continue even when women equip themselves with an MBA (Simpson, 1996). If anything, women with the MBA degree actually note more barriers in their progression than women managers in general (Simpson, 1996). This may be a function of the high expectations women perceive once they have the degree that are not fulfilled. 51

Deep seated, ingrained patriarchal power structures are noted at the third impediment to womens equal career outcomes. The heavily male dominated structure of most organizational settings is not toppled by the few women participants on the executive floors and continues to lead to a boys world mentality. According to Kanter (1977) women token leaders only serve to perpetuate the disparity between men and women and create a stronger domination by the male group. The mens club philosophy which is noted by many MBA female graduates supports the view the men in senior positions and in the numerical majority practice exclusionary tactics which undermine women as they seek to break through the glass ceiling and up the corporate ladder (Simpson, 1996). Initiatives to help women try harder, gain greater experience, attain higher educational levels and gain more skills and confidence do help, but if male attitudes and discriminatory practices continue to exist it is going to take a fundamental change in male behavior and attitudes to facilitate womens career progress, even when well equipped with an MBA. Chapter Summary In summary, the body of literature on this topic runs the gamut of opinions related to the value of the MBA. The benefits center on the acquisition of skills, and the attainment of credential awarded based on dedication, sacrifice and hard work. Literature extols the virtues of a long and lucrative future which provide career satisfaction and mobility. The criticism questions the ethics of the program at large, its ability to actually create managers and challenges the long term economic returns. Critics also seem to point the transferability of the skills to the real world business setting and heavily

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criticism those that teach the program as lacking any real world business experience or acumen. Human capital was used a way to discern the advantages of post graduate education and link these macro corporate outcomes with the micro personal outcomes that encourage one to pursue the MBA degree in the first place. Extrinsic and intrinsic outcomes were explored as a dependant variable to MBA acquisition. The historical body of academic research supports positive career outcomes for the MBA on the extrinsic front, but much fewer studies have evaluated the intrinsic outcomes and more specifically how these vary between men and women.

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CHAPTER 3. METHODOLOGY Introduction The purpose of this research is to examine the relationship between self reported intrinsic and extrinsic career outcomes of individuals who hold an MBA from an accredited institution living and working in the United States and Canada. Further, the study specifically addresses the career outcome differences between male and female graduates and will measure for disparity between the sexes. The first two chapters contained the rationale and theoretical basis for this research, this chapter will include the research methodology used to test the hypotheses that have previously been presented. In the first section of the chapter, the research design will be described; as well, the procedure for sampling will be rationalized and explained. The following section will provide an overview of the setting in which the research was conducted, followed by a description of the instrumentation, measures and justification for the control variables. Reliability and validity of the instrument will be presented in this section. This study will utilize the reliability of a pilot study and the third section will provide an overview of this pilot and its contribution to the research. The fifth section will describe the data collection methodology, as well as a description of the statistical techniques used to test the hypothesized relationships. The final section will consider the ethical considerations of conducting human research. Research Design The purpose of the research design is to collect quantitative data, which will allow the researcher to determine what, if any, statistical difference exists between male and 54

female MBA graduates in relation to intrinsic and extrinsic career outcomes. This research design is based on a quantitative survey, whereby the researcher will generalize claims about a population based on the numeric outcome of opinions on a range of variables (Creswell, 2003). The survey instrument used to assess these opinions was administered to a subset of this population. Quantitative research is widely accepted as a suitable form of scientific inquiry (Creswell, 2003). Countless hypotheses have been tested through quantitative research design, then statistically assessed and are now widely accepted as truth and fact (Stewart, 2009). The academic community readily accepts quantitative research results as important if the research has been properly collected, presented accurately and supported with thorough and accurate statistical methods (Creswell, 2003; Stewart, 2009). Acceptance is garnered when other researchers can replicate the study through independent analysis and can successfully duplicate the same statistical results when administering the study again (Arbnor & Bjerke, 1997; Stewart, 2009). The data collection methodology was an on-line survey. This was deemed the most convenient and practical way to garner the responses required for this research and allowed for a comfortable and natural setting for respondents to carefully think through their responses. Consistent with other web based, computer administered surveys, this research design allowed for a certain level of consistency as all respondents were in front of their computer and questions were presented to them in a standardized fashion and sequence (Florence, 2009; Buchanan, 2006). Since the Internet is widely available, this method allowed for greater convenience and access to a very broad range of survey participants. A further advantage 55

is inherent in this design since a web based survey allowed for self-administration. As such, participants were able to take the survey at a time that was convenient them; they did not have to interrupt their personal schedules or physically travel to a site to take part in the research. These advantages offer convenience and reduce the artificiality of the data collection process. This survey was purely voluntary in nature. By providing ample access and time to complete the survey, as well as ease of participation, it is believed the response rate was increased. The instrument design was easy to navigate and was of similar in look and feel to other web based survey instruments that are sure to be familiar to individuals with post secondary education. This survey is intended to be reflective in nature and is based on the feelings and interpretations of each individual participant; as such supervision of the research is not required. Concerns regarding the timeliness of answers, garnering assistance from others or cheating are not a concern; as such, the study is ideal for self administration. The data collected in this research included both past and current perceptions of the value of the MBA. MBA alumni provided self-reported answers based on past and personal experience. For the purposes of this research only those actually holding the designation of an MBA were questioned. While other important conceptual information could be garnered from others, such as school administrators, professors and employers this researcher supports Richardson-Wilson & Galloway (2006), who stated that there is no real substitute for the information that can be gathered from the [MBA] program graduates (p. 26). These unique individuals, with their different backgrounds, program concentrations, and varied employment experiences, offer and important window into the 56

many ways in which graduate may have benefited from their MBA program. Systematically surveying these individuals represents the gold standard from an assessment perspective. Sample Survey respondents were masters level graduate students holding the designation of Master of Business Administration from an accredited North American based university. Participants were solicited through Zoomerang, a market research company. By using a market research company and their database of over 2.5 million survey takers, the researcher was able to garner participants who are very geographically dispersed, as well as those individuals with diverse educational and industry perspectives (Zoomerang, 2010a). Purposive sampling was utilized based upon the participants educational attainment and geographic location; thus requiring them to have attained an MBA and currently reside in the United States or Canada. Purposive sampling is a form of nonprobability sampling, whereby an individual participant is purposely chosen or sought out based on pre-specified criteria (Neill, 2003). This type of sampling is deemed more a more appropriate representation of required participants, than random sampling methods. The advantage to this research is that it is reduces time, as well as costs (Rideout, 2010). Zoomerang utilizes a database of approximately 2.5 million registered survey takers (Zoomerang, 2010a). Zoomerang uses the technology of TrueSample to ensure a first quality-assured sample (Zoomerang, 2010c, p. 1). TrueSample is based on a three part process, thus ensuring authenticity in survey respondents.

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1) TrueSample uses objective criteria to validate that study participants are who they say they are and where they are. Prospective participants are validated through extensive databases which objectively validate consumer demographics. Further certified partner networks are used for comparative analysis to ensure that no study has duplicate study takers. 2) TrueSample combines powerful validation, fingerprinting and deduplicating technologies and applies them to the participant panel ensure that each respondent is real, unique and engaged. 3) TrueSamples data validity technology is able to correlate survey-taking time and response patterns to identify fraudulent behavior, such as respondents who complete the survey too quickly to have given the answers proper consideration, participants who select the first choice for every answer or enter the same number on a matrix for every answer. Patient pending SurveyScore technology provides an objective measure of quality and engagement. (Zoomerang, 2010c, p. 1) The sample was limited to Canada and the United States in order to control for extraneous variables, such as educational differences between international systems, as well as social and economic variances between countries. The sample pool was large enough to yield a significant and representative response rate from these two countries exclusively. Respondents were required to have attained the MBA designation between the years 1995 to 2005 inclusive. A 10 year band was used for cross sectional comparative purposes. To normalize the outcomes, graduates were required to be out of school for at 58

least 5 years and thus at a better point of career establishment. The early part of ones career may not be an accurate reflection of their future potential, as they navigate the early elements of their career. It was also deemed necessary to put a cap on the high end of the participants career duration. It was established that comparison beyond 15 years post education would not allow for equality of comparison between the groups as too many intervening variables such as further education, years of experience, and professional networking could become greater influencers of career outcome over time. The time beyond this period is noted in the literature as a transitional turning point between career establishment and ascension (Simpson et al., 2005). Specific questions regarding year of graduation allowed the researcher to control for this range. Those who completed the survey who did not fall within the required range will be eliminated from the data set. For this research the required sample size was deemed to be at least 500 participants. 500 hundred participants is noted as an acceptable number since it replicated the sample size of other comparable and widely accepted research studies (Cox & Harquail, 1991; Simpson, 2000a; Simpson et al., 2004; Simpson et al., 2005). Due to the comparative nature of gender in this study, it is critical that women comprise an acceptable proportion of the participants. Women today account for 36% of the MBA graduates in the United States (Catalyst, 2010); as such in order to be a representative sample it is deemed appropriate that at least 180 of the participants are female. Instrumentation and Measures The primary source of data generation was a web based questionnaire, selfadministered to a purposely selected group of MBA graduates. This was deemed the 59

most efficient and effective way to assess the perceptions of MBA alumni and the effects of the degree on their career outcome. According to Robson (2002), a survey instrument can be used effectively to collect generalizable data from a human population in an economical and efficient manner, while still ensuring the anonymity of the respondents. This study employed the use of a self designed survey instrument. Due to the unique nature of this study no instrument currently exists which assessed the variables in quite the way required by the researcher. As such a unique instrument was designed based on an amalgamation of other accepted questions used in previous research studies, most notably research by Simpson et al., (2005) and Florence (2009). The application of the survey included the use of a field test to test the survey instrument. A draft survey instrument was created and reviewed by a variety of stakeholders including business school administrators, MBA employers and a sample of MBA alumni. Following this a pilot test was administered on a small set of (30) MBA graduates who meet the same criteria of the larger study sample. These individual surveys were not included as part of the final study population, but outcomes provided an opportunity to correct any ambiguous questions, to indentify complexities and will correct any mistakes that may be apparent. The final survey was finalized based on the results of the pilot study and was reflected as the final survey instrument. All of the questions used in this instrument are reflective of similar approaches, questions and categorizations found in the literature (Simpson et al., 2005; Wellman, 2005; Florence, 2009). The questionnaire is divided into 3 primary sections. Figure 2. represents the linkages between the survey questions and the research hypothesis.

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The first section of the instrument is intended to solicit information regarding current employment and the MBA (Florence, 2009). This section of the questionnaire is designed to assess research question 1: what perceived value added extrinsic outcomes has the MBA provided the alumnus as compared to before the degree? Most specifically questions in this section will test the hypothesis: that the MBA degree has provided the alumnus with perceived additional value added extrinsic career outcomes as compared to before the degree. In this section information will be gathered with specific questions regarding career progress, including current salary, number of direct reports, number of promotions since entering the firm, current position within the firm. Information regarding industry, size of firm, for profit status and public versus private was also gathered as control variables for this research. The second section is divided into a series of questions in two groups. Here the intention is to explore the benefits and skills attributable to the MBA. This section of the questionnaire is designed to assess research question 3: what perceived value added intrinsic career outcomes has the MBA provided the alumnus as compared to before the degree? Most specifically questions in this section will test the hypothesis: that the MBA degree has provided the alumnus with perceived additional value added intrinsic career outcomes as compared to before the degree. This section is identified with a series of statements by which the responds are asked to gauge how the MBA program contributed to their own personal value and their effectiveness within the firm they are employed; as such providing insight into the participants intrinsic career outcomes. The research questions on this topic is operationalized through a series of statements to which

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participants responded using a five-point Likert Scale format, ranging from 5- strongly agree to 1- do not agree at all and includes the option of N/A- not applicable. The first series of questions are designed to determine the extent to which the alumnus believes the MBA contributed to their individual value. Included in this section are questions which proved foundational to research conducted by Simpson et al., (2005). The questions evaluate perceived levels of enhanced credibility, increased on-the- job confidence, greater personal confidence, an improved ability to handle complex data, greater effectiveness in meetings, improved negotiation skills, greater ability to manage teams, enhanced ability to work more effectively with others, and and improved ability to be more effective dealing with others and improved interpersonal skills (Simpson et al., 2005). In the following section a series of statements are designed to determine the retrospective sources of value contributed by the MBA to the respondents career progression and to the respondents contribution to their firm. This section uses items drawn from the work of Florence (2009) in indentifying the overall value of the MBA. These statements encompass the relevance of the MBA to the respondents career, gauging the impact the MBA had on finding fulfilling employment, enhanced mobility opportunities, enhanced marketability, enhanced work outcomes due to the acquisition of skills and techniques, enhanced productivity of oneself as a results of the MBA, enhanced productivity of others in the workplace as a results of the MBA and a gauge of career satisfaction. The final section of the questionnaire is intended to solicit a variety of demographic and background information on alumni characteristics before, during and 62

after their MBA experience. The first question of this section requires the entry of the respondents gender. This question, along with answers in the previous sections of the questionnaire will be critical in assessing the intervening variable of gender in this research. The outcomes of both sections 1 and 2 of the questionnaire along with gender will allow both research question 2: what are the gender differences in extrinsic career outcomes of MBA alumnus? and research question 4: what are the gender differences in intrinsic career outcomes of MBA alumnus? to be addressed. The hypotheses to be tested will be Ha2: men will have more favorable extrinsic career outcomes as compared to women and Ha4: women will have more favorable intrinsic career outcomes as compared to men. Following gender, further background information including ethnicity, geographic location, age, marital status, educational background before the MBA (degree(s) and major(s)), GMAT scores, the number of years of full time work experience pre-MBA, age when MBA completed, MBA program attended, program type (full time, part time, executive, on-line) and program major. This section will also include a question regarding the respondents initial motivation to pursue the degree. The answers to these questions will be used as control variables in the research analysis. The survey ended by soliciting any additional feedback, clarification or comments from participants. The participants were then be thanked once again for their participation and requested to submit their responses by clicking the submit icon.

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RQ 1 Ha1 Section 1. 1 What is the total number of organizations you have worked for since the MBA? How would you classify your current employment 2 situation How long have you been employed at your current 3 employer? 4 In which industry do you work? 5 In which sector you work? 6 Do you wok for a public or private company? 7 How many people are employed in your organization? X X X X X

RQ 2 Ha2

RQ 3 Ha3

RQ 4 Ha4 Control Variables

X X X X X X X X X X X

8 Your current job title is? 9 Your current salary is? 10 How many people do you manage? 11 How many promotions have you had since you were hired? The MBA has enhanced my credibility in the workplace Because of the MBA I am more confident in my job The MBA has led to greater self confidence in my personal life The MBA has given me the ability to handle and analyze complex data The MBA has helped me be more effective in meetings

Section 2. 12 13 14 15 16 X X X X X X X X X X X X X X X X X X X X X X X X X X

17 The MBA has improved my negotiation skills 18 Because of the MBA I can manage teams and individuals more effectively The MBA has enhanced my ability to work more 19 effectively with others Because of the MBA I have become more assertive 20 dealing with others 21 The MBA has improved by interpersonal skills 22 The MBA has been relevant to my career 23 The MBA has led to improved marketability and mobility opportunities for me Having and MBA has led to improved 24 marketability and mobility opportunities

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RQ 1 Ha1 Section 2. continued 25 The MBA has enhanced job prospects for me 26 The MBA has enhanced my salary opportunities 27 The MBA has enhanced my employment status 28 The MBA has provided me with knowledge and skills which have contributed to enhanced work The knowledge and skills gained from the MBA 29 have increased my productivity The MBA has allowed me to enhance the 30 productivity of others Because of the MBA I am more satisfied with my 31 career than before X X

RQ 2 Ha2

RQ 3 Ha3

RQ 4 Ha4 Control Variables

X X X X

X X X X

Section 3 32 Gender 33 Ethnicity 34 Current Geographic Location 35 Current Age 36 Marital Status 37 Educational Background before the MBA 38 Undergraduate Major Classification 39 GMAT Score 40 Number of Years of pre-MBA Work Experience 41 Age when MBA was complete 42 Year the MBA was complete 43 Graduate School Attended 44 MBA Program Major 45 MBA Program Type 46 Initial Motivation for Taking the MBA Figure 2. Hypothesis Matrix X X X X X X X X X X X X X X X X

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Validity and Reliability Reliability is the extent to which a variable or a series of variables is consistent or repeatable with what it was intended to measure (Mirabella, 2008). By comparison validity is based on the accuracy of the survey instrument (Mirabella, 2008) and whether the researcher is actually measuring what he or she intended to (Rymarchyk, 2008). In a survey with good validity the respondents interpret the questions the same way the researcher intended them to (Mirabella, 2008). The selection of the constructs and the operationalization of these were done using material drawn from the literature and previous research. The survey instrument in its design will be based entirely on a culmination of questions from various other tested sources. In order to test validity of the research question and how these align with the survey questions, five subject matter experts were solicited to review the questions and provide feedback on well these align with the research questions. These subject matters experts consisted of a combination of former MBA graduates, MBA employers and business school administrators. By gaining the insight from individuals close to the research topic, the validity of the survey questions was tested against the research questions the researcher is attempting the analyze. The final survey instrument reflected input and advice provided by these subject matter experts. In order to ensure the reliability and validity of the instrument, the scales that will be used for measurement of each question will be small and manageable. As stated by Mirabella (2008), the smaller the scale, the more reliable it is and more often it is going to be valid as well. This instrument will use a 5 point scale whereby each measure of the scale will be mutually exclusive of the other and represents no bias to a particular opinion 66

either too positive or too negative. The entire survey will use the same scale for consistency and ease of interpretation. The major criterion used for assessing the survey instrument and scale was the solicitation of feedback from the pilot survey. Prior to administering the final survey 30 respondents completed the survey as a pilot; this was be followed by requesting the same 30 participants complete the survey two weeks later. The second version of the survey was completed by 12 of the original 30 respondents. Test re-test reliability coefficients were established on the data to determine if any ambiguity between the scales were apparent each time they were presented. Due the ordinal scaling of the data two Spearman rho correlation analyses were conducted on Survey section 2 (intrinsic and extrinsic career outcomes) to provide an assessment of the test-retest reliability of the measures. The results of the correlation was not statistically significant for intrinsic career outcomes (rs = .340, p = .306), suggesting that intrinsic career outcome test scores for the two times periods were not strongly related. In general within this small sample on the second round of survey application respondents provided moderately more favorable outcomes than when first tested. Due to the attitudinal nature of the questions and the reflective nature of the required answers the agreement statements were more favorable likely due to a familiarity bias with the questions. The effect of giving the pretest itself may have affected the outcomes of the second test due to the familiarity the subjects had with the questions. In the social sciences, it has been known that the process of measuring may change that which is being measured: the reactive effect occurs when the testing process itself leads to the change in 67

behavior rather than it being a passive record of behavior (Ohlund & Yu, 2010). Due to the slight reliability variance on only this small series of questions and the fact these questions had been utilized and validated in previous research (Simpson et al., 2005), it was felt the questions still provided an adequate assessment of the research questions. The correlation was statistically significant for extrinsic career outcomes (rs = .791, p = .002). The correlation coefficient was large and suggests that the extrinsic career outcome test scores for the two times periods are strongly related. Test-Retest reliability coefficients are presented in Table 1. Table 1 Test-Retest Reliability for Intrinsic and Extrinsic Career Outcomes Survey Subscale Intrinsic career outcomes rs Sig. (2-tailed) N Extrinsic career outcomes rs Sig. (2-tailed) N Note. **Correlation is significant at the 0.01 level (2-tailed). Following the second application of the survey respondents were asked to provide feedback on how they interpreted the entire instrument and the scales used. The final version of the questionnaire was modified based on the feedback obtained from the pilot test. Pretest-Posttest Reliability .340 .306 11 .791** .002 12

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Data Collection Data was collected though an online survey software tool. Individuals were recruited through the TrueSample database, employing the services of Zoomerang, a market research company. Selected individuals were emailed an invitation letter and directed to the Zoomerang website. They were informed the study is focused on MBA graduates, who currently reside in either the United States or Canada. They were informed that their participation is voluntary and that all information will be kept secure and confidential. Upon interest and agreement, participants were provided a link to a secured website hosted by Zoomerang to begin the survey process. Upon selecting the link, respondents were presented an introduction and thank you message for participation; this was followed by an informed consent that meets Capella Universitys research compliance specifications. This section will also restated to participants that any information they provided will remain confidential and that the researcher will have no ability to marry together any contact information with survey responses, thus ensuring anonymity Subjects were asked to confirm their desire to participate by clicking an icon. Once confirmed they were automatically directed to the beginning of the survey. At any point in time the participant could opt out and not complete the survey. They could also save any survey responses and return to the survey at another time that was more convenient for them. At the conclusion of the survey participants were thanked for their participation and asked to provide their name and email contact information anonymously to receive any future feedback on the outcome of the research if they wish.

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If an individual chose to opt out of the survey before beginning the survey or before it has been complete, they were free to do so without penalty. At any point over the course of the survey time frame the researcher was able evaluate the number of survey responses by signing into the secured website through the researchers own User ID and password. Once the volume of participants reaches 500 the questionnaire was closed. All raw electronic data was collected by the researcher from the web based survey in Microsoft Excel format and will be kept securely on the personal computer of the researcher; which was password protected and encrypted. The data will be kept by the researcher for seven (7) years, after which point it will be erased. Zoomerangs data centers protect information through numerous power protection systems including ten generators, full closed-circuit television monitoring, 24-hour on site security, security card access at all building entry points and HVAC equipment throughout the facility (Zoomerang, 2010b). All database and survey response information is maintained on password-protected database servers that are secured by two layers of firewall protection. Back-up data is stored at an offsite backup data facility and transmitted on an hourly basis. Access to the databases and any personally identifiable information is strictly controlled (Zoomerang, 2010b). No confidential information or identifiable information will be provided to the researcher and at the completion of the research study the researchers Zoomerang account will be closed and become inactive. Survey response data is not kept by Zoomerang once the researchers account becomes inactive (Zoomerang, 2010b).

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Data Analysis Basic analysis. For this quantitative research the survey data will be analyzed using the PASW 18.0 (IBM, 2009) software package. Four statistical tests will be used to analyze the research questions in this study. These will include univariate statistics (i.e. frequency distributions and descriptive statistics), correlations, ANCOVA and ANOVA. Univariate statistics will be utilized to summarize alumni data regarding each survey question and to assess and compare demographic factors. Preliminary correlations will be used to assess which, if any of the demographic variables are associated with the dependent variables (intrinsic and extrinsic career outcomes). Variables that demonstrate a statistically signification linear relationship with dependent variable, and meet the assumptions of homogeneity of regression will be included in the analysis as covariates. The researcher will be conducting the data analysis to determine if statically significant differences were apparent between subgroups to the questions, as well as to determine in what ways the reported responses varied based on other identifiable alumni differences, such as age, industry, and years of pre-MBA work experience. Etc.. For the purposes of presentation, tables will be used to summarize the basic statistical analysis completed on the data. Research questions. In investigating research questions 1 and 3, descriptive statistics and measures of central tendency will be used to provide a measure of agreement and describe the participants responses to the survey items in sections 2 (extrinsic career outcomes) and section 3 (intrinsic career outcomes). Participants level of agreement will be presented in frequencies and percentages for each survey item and 71

displayed in presentation tables. The mean, mode, median and standard deviation will be presented for the composite score representing all items in the extrinsic career outcomes subscales and used as the primary measure against the hypotheses. To examine research questions 2 and 3, an analysis of covariance will be conducted to assess the outcomes. ANOVA and regression analysis will be used in this study to examine the differences in the variable of gender and the dependent variables of intrinsic outcome and extrinsic outcomes. Control factors will be entered as covariates to determine the statistic significant of these variables on the intervening and dependant variable. Ethical Considerations The Academy of Management makes a clear statement of ethical consideration in that the research of academy members should be done honestly, have a clear purpose, show respect for the rights of all individuals and organizations, efficiently use resources, and advance knowledge in the field (Academy of Management, 1998. p. 736). The most significant risk in this research comes in the use of human participants in the study. As such it is critical to safeguard these subjects from any inference direct or indirect which could cause physical harm, psychological harm, discomfort, loss of privacy or pain in any way (Cooper and Schindler, 2008). Respect for persons means that individuals should be treated as autonomous agents capable of making decision and choices (Swanson & Holton, 2005, p. 430). In order to abide by these principals a series of guidelines are typically followed in research. First, that all participants received a full explanation of the study benefits. Second, that each participant has an explanation of their rights and protections and finally that 72

informed consent is obtained prior to conducting the research (Cooper and Schindler, 2008. p. 36). Consistent with the ethical guidelines of academic research all participants in this research were provided with full disclosure of the benefits of the study and all were provided informed consent prior to participation. All incentives to participate in the survey are provided by Zoomerang and are available and equivalent for each participant. There are no cash rewards, but rather points are earned by those participating in survey research which may be redeemed for prizes such as gift cards, small electronics, magazines and music. Incentives are reasonable, aligned and commensurate with the expected time commitments and contributions of each participant. Incentives provided are not deemed to constitute undue pressure or influence to participant and are noncoercive in nature (Zoomerang, 2010c). All information including any identifiable information regarding study participants and actual survey results will be kept in the strictest confidence on a security encrypted and password protected computer. While transmission of data over the Internet is never 100% secure or without error it is deemed that Zoomerang has taken all reasonable steps to protect the participants privacy and protected information from loss or tampering. Chapter Summary The intent of chapter 3 was to provide a description of the methodology that will be employed for this research. The research design chosen for this study employs a quantitative methodology, which is deemed the most convenient and viable method for the required research. The instrument utilized a web based survey questionnaire 73

administered to participants solicited through the use of a market research database. The questions in the instrument used were based on the foundations of previous and accepted research and represent a consistent link to the variables of the research itself. A pilot pretest of the questionnaire provided valuable insight into the operationalization of the questionnaire and assisted in garnering validity. The data collection process, as well as the data analysis process have been outlined and are consistent with the research methodology employed. Both reliability and validity have been assured through the instrument design and throughout the instruments application. Commentary on ethical considerations ensure the research design conform to the standards of academic research. A summary of the data analysis and research findings will be provided in chapter 4.

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CHAPTER 4. RESULTS Introduction This chapter represents the research findings and the statistical analysis of the data collected as part of this study. The purpose of this chapter is to provide a comprehensive overview of the entire data set collected and the characteristics of the respondents. In addition, it serves to describe and statistical procedures applied to the data in order to interpret and apply the data to the research questions. In the final section of the chapter the outcome of the research questions will be addressed. This researcher utilized an on-line survey administered with permission to the Zoomerang TrueSample database in order to collect data from 520 MBA alumni. The total population that attempted to complete the survey was 3,121 (2,568 in the United States and 463 in Canada), but many participants were screened out based on the inclusion criteria requiring each respondent to hold a Masters degree in business from a Canadian or US university, between the graduation years 1995 and 2005 inclusive. The on-line survey ran for a total of 10 days whereby purposefully selected individuals within the Zoomerang TrueSample database were contacted by e-mail and invited to participate in the survey. After 4 days, a follow-up e-mail was sent to encourage further participation to the same data set. A final email was sent 4 days later as further encouragement until over 500 surveys had been solicited. Data Screening and Preparation Five hundred and twenty individuals responded to the survey. Data was transferred to PASW 18.0 (IBM, 2009) for statistical analysis. Responses were examined 75

to ensure participants provided consent to proceed to survey, and that the inclusion criteria were met. These inclusion criteria required participants to have an MBA degree from a university in Canada or the United States and that they had graduated from this MBA program between the years 1995 through 2005. Frequency distributions were conducted to determine that responses were within possible range of values and that the data was not distorted. Any surveys that failed to answer all of the primary survey questions (questions 12- 31) or left entire sections incomplete were eliminated from the dataset. In addition any surveys with impossible data were also eliminated (i.e. a current age under 24 years old) the responses from 401 participants were used in the final data analysis. Participant Characteristics Four hundred and one MBA degree holders took part in the study, and of these 222 (55.4%) were male and 179 (44.6%) were female. The majority was White (303, 75.6%), resided in the United States (361, 90%) and reported being married (268, 67.5%). The educational background prior to MBA was predominantly undergraduate (246, 62.3%) and a large number of the participants classification for their undergraduate degree was business and commerce (165, 41.4%). The majority of participants had a GMAT score of 600 or higher (207, 54%). A large number of the participants had more than five years of pre-MBA work experience before obtaining their MBA (180, 45.2%) and almost half completed a full-time MBA program (194, 49.5%). The initial motivation for pursuing the MBA was improved job opportunities (206, 52.2%). Not all participants provided answers to all the demographic items, resulting in varied frequency counts.

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These are presented along with the percentages for each demographic category in Table 2. Table 2 Frequencies and Percentages for Participant Demographics Demographic Gender Female Male Ethnicity White Black Native Indian Hispanic Asian Other Location of United States Canada Marital Status Single Married Divorced Common-law partnership Widow Education Background Pre-MBA Undergraduate degree Master degree (other than business) Doctorate degree Other Undergraduate Classification 77 N %

179 222 303 19 3 12 56 8 361 40 86 268 27 14 2 246 121 23 5

44.6 55.4 75.6 4.7 0.7 3.0 14.0 2.0 90.0 10.0 21.7 67.5 6.8 3.5 0.5 62.3 30.6 5.8 1.3

Business & Commerce Humanities & Social Sciences Life Sciences Languages Engineering Physical Sciences Health Sciences Other GMAT Score Below 200 200-299 300-399 400-499 500-599 600-699 Above 700 Years of Work Experience Pre-MBA No prior full time work experience Less than 2 years 2 to 5 years More than 5 years MBA Motivation Improved job opportunities To change career direction To obtain business qualification To gain intellectual stimulation To obtain general skills To increase my salary

165 67 20 7 61 11 23 45 1 7 18 50 100 122 85 41 62 115 180 206 60 45 32 27 25

41.4 16.8 5.0 1.8 15.3 2.8 5.8 11.3 0.3 1.8 4.7 13.1 26.1 31.9 22.2 10.3 15.6 28.9 45.2 52.2 15.2 11.4 8.1 6.8 6.3

Participants that completed the survey reported an age range from a low age of 26 years to a high age of 75 years (M = 40.63, SD = 9.33) and an age at time of completing their MBA between a low age of 21 years and a high age of 68 years (M = 31.80, SD = 7.62). Means and standard deviations for age of participants are presented in Table 3. 78

Table 3 Means and Standard Deviations for Age of Participants Age Current age Age when MBA complete M 40.63 31.80 SD 9.33 7.62

Participant Current Employment Participants were asked a number of questions regarding their current employment (survey Section 1). The majority were employed (302, 75.5%), worked in the corporate sector (244, 61.2%) and worked for private companies (214, 53.9%). A large number of participants reported their organizations employed more than 1000 (154, 38.7%). A large number had the current job title of management (190, 47.7%). Salary range varied, with most participants reporting less than $150,000 in annual earnings, and 40 (10.1%) reporting earning between $150,000 and $249,999 and 19 (4.8%) earning more than $250,000. A large number managed between 1-9 employees (136, 34.2%) but 119 (29.9%) reported they did not managed other employees. The number of promotions since hired also varied, with 186 (46.7%) reporting none, 182 (45.7%) reporting between 2-5 promotions and 30 (7.5%) reporting more than five promotions since hired. Frequencies and percentages for current employment are presented in Table 4.

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Table 4 Frequencies and Percentages for Current Employment Current Employment variables Current employment situation Student Self employed Unemployed Homemaker Employed Disabled/extensive sick leave Other Industry Consulting Finance/Accounting Education Manufacturing Technology Healthcare Pharmaceuticals Energy/Utilities Other Sector Corporate Government Academic/Education Non-profit Type of company Public Private Number employed at organization Less than 25 25-99 80 13 40 19 11 302 5 10 50 61 51 36 40 52 6 17 88 244 49 58 48 183 214 66 40 3.3 10.0 4.8 2.8 75.5 1.3 2.5 12.5 15.2 12.7 9.0 10.0 13.0 1.5 4.2 21.9 61.2 12.3 14.5 12.0 46.1 53.9 16.6 10.1 N %

100-499 500-999 More then 1000 Dont know Current job title Owner Executive Management Direct employee with no leadership Current salary Less than $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $249,999 More than $250,000 Number managed I do not manage other employees From 1-9 From 10-49 From 50-99 From 100-499 More than 500 Number promotions since hired No promotions 2-5 promotions More than 5

71 50 154 17 42 57 190 109 72 87 93 87 40 19 119 136 78 30 22 13 186 182 30

17.8 12.6 38.7 4.3 10.6 14.3 47.7 27.4 18.1 21.9 23.4 21.9 10.1 4.8 29.9 34.2 19.6 7.5 5.5 3.3 46.7 45.7 7.5

Participants that completed the survey reported they had worked for as few as 0 companies since earning their MBA, as many as 34 companies (M = 2.55, SD = 2.45). They reported an employment length of less than one year to as many as 36 years with

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their current employer (M = 6.96, SD = 6.96). Means and standard deviations for current employment are presented in Table 5. Table 5 Means and Standard Deviations for Current Employment Current employment Number organizations worked for or owned since MBA Length of time employed (years) N 369 364 M 2.55 6.96 SD 2.45 6.96

Intrinsic and Extrinsic Career Outcomes Intrinsic and extrinsic scores were created from averaging the participant responses in Section 2 of the survey instrument. Intrinsic scores were created from questions 15-24 and extrinsic scores were created from questions 25-34. Survey response options included: 5 = strongly agree, 4 = agree, 3 = neutral, 2 = disagree and 1 = strongly disagree. Not applicable responses were treated as missing data. The intrinsic scores ranged from 1 to 5 (M = 3.75, SD = 0.75) and the extrinsic scores ranged from 1 to 5 (M = 3.74, SD = 0.80). Means and standard deviations for intrinsic and extrinsic score are presented in Table 6.

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Table 6 Means and Standard Deviations for Intrinsic and Extrinsic Scores Score Intrinsic Extrinsic M 3.75 3.74 SD 0.75 0.80

Correlations Preliminary correlations were conducted between specific participant demographic variables and the intrinsic and extrinsic variables to assess the potential covariates between these demographics. In order to do this, correlations must first be run against the variables to determine if they are related. Most of the data for the demographic variables was categorical and prior to conducting the correlations, data was transformed into dichotomous categories. Point biserial and Pearson product moment correlations were conducted due to the discontinuous nature of the variables. The results of the correlations for both intrinsic and extrinsic outcomes were positively significantly correlated for the educational degree participants had prior to obtaining their MBA, current salary, the number of people managed daily, and the number of promotions received. This suggests that if a participant had acquired a graduate degree prior to the MBA, if their salary was greater than $100,000, if they managed ten or more people, or if they had at least one promotion they tended to have higher intrinsic and extrinsic scores. Most of these relationships, while statistically significant, had a small effect size (r < 2.0), indicating the relationships were moderate. 83

For intrinsic outcomes, a stronger effect size was noted for the number of people managed daily (0-9 vs. 10 ore more), rpb = .24. For extrinsic outcomes, stronger effect sizes were noted among current salary (< $100,000 vs. $100,000 or more), rpb = .25; the number of people managed daily (0-9 vs. 10 or more), rpb = .31, and promotion (no promotions vs. promotions), rpb = .28. Current salary, number of people managed daily, and the number of promotions could be considered covariates that affect the dependent variables. The other demographic variables were not considered to be strongly related to the demographic variables. The correlation coefficients are presented in Table 7. Table 7 Correlations between Demographic variables and Intrinsic and Extrinsic Scores Intrinsic coefficientnt 0.03 -0.08 0.00 0.09 0.12* 0.01 0.05 0.01 0.04 0.01 0.09 0.04 0.04 84

Demographic variable Gender (male vs. female) Ethnicity (White vs. all other) Marital Status (married vs. all other) Degree before MBA (undergraduate vs. graduate) Undergraduate major (business/commerce vs. all other) GMAT score (<600 vs. 600 and higher) Years of Pre MBA work experience (5 years and less vs. > 5 years) Age Age when MBA received Number of organizations you have worked for pre-MBA Employment status (employed vs. not employed) Length of time with employer Work sector (corporate vs. all other)

Extrinsic coefficient 0.09 -0.06 0.02 0.12* 0.11* 0.02 0.02 0.00 0.01 0.00 0.09 0.01 0.08

Public or private company People employed in the organization (< 500 vs. 500 or more) Job title (management vs. all other) Current salary (< $100,000 vs. $100,000 or more) Number of people managed daily (0-9 vs. 10 or more) Promotions (yes vs. no) Note. * p < 0.05. ** p < 0.01. Examination of Assumptions of ANCOVA

0.06 0.06 0.05 0.16** 0.24** 0.19**

0.06 0.11* 0.09 0.25** 0.31** 0.28**

Prior to conducting the analyses to answer the research questions, the assumptions of ANCOVA were assessed. Equality of variance was assessed with the Levenes test. This was not statistically significant and the assumption of equality of variance was met. Normality was assessed with a Kolmogorov-Smirnov test. The test results were significant and normality could not be assumed; however, according to Stevens (2009), the F statistic is robust against violations of normality when the sample size is larger than N = 30. Correlation analyses were conducted to assess the relationship between the demographic variables (see Table 7), and covariates were selected based on the strength of their relationship with the dependent variable. Additional correlations were conducted to assess the correlation among covariates, and none of the covariates were strongly related to one another (r .80) suggesting the absence of multicollinearity. The homogeneity of regression slopes was assessed statistically for each covariate and the dependent variables by group by interpreting the significance of the interaction between each covariate with group and dependent variable. There was a significant interaction between gender and promotion on intrinsic outcomes, indicating promotions (yes vs. no) interacts with gender to influence intrinsic outcome scores. The 85

assumption was violated. The assumption of linearity was violated; when the covariates were included in the ANCOVA analysis, the power of the gender comparison was substantially reduced (power = .005). The data did not meet the assumptions of ANCOVA, and a decision was made to conduct one-way ANOVAs to test hypothesis 2 and hypothesis 4. Research Question 1 RQ1. What perceived value added extrinsic career outcomes (salary increases, increase in the number of promotions, increased span of control) has the MBA degree provided the alumnus? Ha1: The MBA degree has provided the alumnus with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. Ho1: The MBA degree has not provided the alumnus with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. To examine research question 1, descriptive statistics were conducted on the participants responses to survey items in the extrinsic career outcomes of Section 2 (items 25-34). Most of the participants tended to agree or strongly agree to the extrinsic items and between 20% and 30% of responses were neutral. An overall score for the 9 extrinsic questions was created from questions 25-34, which had a mean range of 3.69 to 3.88. The total extrinsic score was 3.74 with a standard deviation of .80. Means and standard deviations for extrinsic scores are presented in Table 6.

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Two questions received the largest frequency of agree/strongly agree responses, including item 25, The MBA has been relevant to my career (284, 70.8%) and item 31, The MBA has provided me with knowledge and skills which have contributed to enhanced work outcomes (296, 73.8%). Item 29, The MBA has enhanced my salary opportunities received the largest number of strongly disagree/disagree responses (60, 15%). Frequencies and percentages for items 25-34 by response options are presented in Table 8. Table 8 Frequencies and Percentages for Items 25-34(Extrinsic Career Outcomes) Strongly Item Q25 Q26 Q27 Q28 Q29 Q30 Q31 disagree % n 10 19 17 17 22 18 10 2.5 4.7 4.2 4.2 5.5 4.5 2.5 Disagree N 24 23 25 25 38 25 13 % 6.0 5.7 6.2 6.2 9.5 6.2 3.2 n 83 103 90 95 84 100 82 Neutral % 20.7 25.7 22.4 23.7 20.9 24.9 20.4 n 170 168 178 171 164 178 214 Agree % 42.4 41.9 44.4 42.6 40.9 44.4 53.4 n 114 88 91 93 93 80 82 Strongly Agree % 28.4 21.9 22.7 23.2 23.2 20.0 20.4

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Q32 Q33 Q34

5 9 17

1.2 2.2 4.2

23 26 26

5.7 6.5 6.5

109 115 111

27.2 28.7 27.7

194 184 178

48.4 45.9 44.4

70 67 69

17.5 16.7 17.2

Note Q25: The MBA has been relevant to my career. Q26: Having an MBA has made it easier for me to find fulfilling employment. Q27: Having an MBA has provided improved marketability and mobility opportunities for me. Q28: The MBA has enhanced job prospects for me. Q29: The MBA has enhanced my salary opportunities. Q30: The MBA has enhanced my employment status. Q31: The MBA has provided me with knowledge and skills which has contributed to enhanced work outcomes. Q32: The knowledge and skills gained from the MBA has increased my productivity. Q33: The knowledge and skills gained from the MBA have allowed me to enhance the productivity of others in my organization. Q34: Because of the MBA I am more satisfied with my career than before. Measures of central tendency were calculated for extrinsic career outcomes of Section 2 (items 25-34). The data is interpreted based on the following: 5 = strongly agree1= strongly disagree. The mode was 4.0 for each item, indicating that agree was the most frequent response. The median was 4.0 for each item, indicating that 50% of the sample scores fall above the median and 50% fall below the median. The highest mean scores were obtained on item 25, The MBA has been relevant to my career (M = 3.88, SD = 0.97), and the lowest mean scores were obtained on item 34, Because of the MBA I am more satisfied with my career than before (M = 3.64, SD = 0.98). These median, mode, mean and standard deviations on items 25-34 are presented in Table 9. The results 88

of the statistical analysis indicate as hypothesized, that the MBA degree has provided the surveyed alumni with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. The null hypothesis is therefore rejected. Table 9 Measures of Central Tendency for Items 25-34(Extrinsic Career Outcomes) Item Q25 Q26 Q27 Q28 Q29 Q30 Q31 Q32 Q33 Q34 Mdn 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 mode 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 M 3.88 3.71 3.75 3.74 3.67 3.69 3.86 3.75 3.68 3.64 SD 0.97 1.02 1.01 1.02 1.10 1.00 0.86 0.85 0.90 0.98

Note Q25: The MBA has been relevant to my career. Q26: Having an MBA has made it easier for me to find fulfilling employment. Q27: Having an MBA has provided improved marketability and mobility opportunities for me. Q28: The MBA has enhanced job prospects for me. Q29: The MBA has enhanced my salary opportunities. Q30: The MBA has enhanced my employment status. Q31: The MBA has provided me with knowledge and skills which has contributed to enhanced work outcomes. Q32: The knowledge and skills gained from the MBA has increased my productivity. Q33: The 89

knowledge and skills gained from the MBA have allowed me to enhance the productivity of others in my organization. Q34: Because of the MBA I am more satisfied with my career than before. Research Question 2 RQ2. What are the gender differences in extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) of MBA alumnus? Ha2: Men will have more favorable extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to women. Ho2: There will be no significant difference in reported answer by gender To examine research question 2, a univariate analysis of variance (ANOVA) was conducted to assess if there were differences in extrinsic scores by gender. The independent variable was gender and the dependent variable was extrinsic career outcomes. The results of the ANOVA were not statistically significant, F (1, 395) = 2.85, p = .092, 2 =.007, suggesting that males and females did not differ on their extrinsic scores. The partial eta squared value of .007 is very small and indicates gender provided a very small effect. The null hypothesis cannot be rejected; there is not a statistically significant difference between males and females in their report of extrinsic career outcomes. Results of the ANOVA are presented in Table 10 and the means and standard deviations are presented in Table 11.

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Table 10 ANOVA for Extrinsic Scores by Gender Source Gender Error Df 1 395 MS 1.85 0.65 F 2.85 P .092 Partial 2 .007

Table 11 Means and Standard Deviations for Extrinsic Career Outcomes by Gender Male Variable M SD M Female SD

Extrinsic career outcomes

3.79

0.82

3.66

0.78

Research Question 3 RQ3. What perceived value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, future upward mobility opportunities) has the MBA degree provided the alumnus? Ha3: The MBA degree has provided the alumnus with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, future upward mobility opportunities) as compared to before the degree.

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Ho3: The MBA degree has not provided the alumnus with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, and future upward mobility opportunities) as compared to before the degree. To examine research question 3, descriptive statistics were conducted on the participants responses to survey items in the intrinsic career outcomes of Section 2 (items 15-24). Most of the participants tended to agree or strongly agree to the intrinsic career outcome items and between 20 and 30% of responses were neutral. An overall score for the 9 intrinsic questions was created from questions 15-24, which had a mean range of 3.66 to 3.87. The total extrinsic score was 3.75 with a standard deviation of .75. Means and standard deviations for intrinsic scores are presented in Table 6. Item 15, The MBA has enhanced my credibility in the workplace received the highest number of agree/strongly agree responses (290, 72.3%). Item 18, The MBA has given me the ability to handle and analyze complex data also received a high number of agree/strongly agree responses (287, 71.5%). Item 17, The MBA has led to greater selfconfidence in my personal life received the highest number of strongly disagree/disagree responses (45, 11.2%). Frequencies and percentages are presented in Table 12.

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Table 12 Frequencies and Percentages for Items 15-24(Intrinsic Career Outcomes) Strongly Item Q15 Q16 Q17 Q18 Q19 Q20 Q21 Q22 Q23 Q24 disagree % n 9 7 11 9 10 8 9 8 9 9 2.2 1.7 2.7 2.2 2.5 2.0 2.2 2.0 2.2 2.2 Disagree N 17 23 34 22 23 34 20 24 34 27 % 4.2 5.7 8.5 5.5 5.7 8.5 5.0 6.0 8.5 6.7 n 85 94 97 83 102 110 103 92 112 124 Neutral % 21.2 23.4 24.2 20.7 25.4 27.4 25.7 22.9 27.9 30.9 n 198 191 175 199 195 177 187 190 173 174 Agree % 49.4 47.6 43.6 49.6 48.6 44.1 46.6 47.4 43.1 43.4 Strongly Agree % n 92 86 84 88 71 72 82 87 73 67 22.9 21.4 20.9 21.9 17.7 18.0 20.4 21.7 18.2 16.7

Note. Q15: The MBA has enhanced my credibility in the workplace. Q16: Because of the MBA, I am more confident in my job. Q17: The MBA has led to greater selfconfidence in my personal life. Q18: The MBA has given me the ability to handle and analyze complex data. Q19: The MBA has helped me be more effective in meetings. 93

Q20: The MBA has improved my negotiation skills.Q21: The MBA has helped me manage teams and individuals more effectively. Q22: The MBA has enhanced my ability to work more effectively with others. Q23: Because of the MBA I have become more assertive in dealing with others. Q24: The MBA has improved my interpersonal skills. Measures of central tendency were calculated for intrinsic career outcomes of Section 2 (items 15-24). The data is interpreted based on the following: 5 = strongly agree1= strongly disagree. The mode was 4.0 for each item, indicating that agree was the most frequent response. The median was 4.0 for each item, indicating that 50% of the sample scores fall above the median and 50% fall below the median. The highest mean scores were obtained on item 15, The MBA has enhanced my credibility in the workplace (M = 3.87, SD = 0.89), and the lowest mean scores were obtained on item 24, The MBA has improved my interpersonal skills (M = 3.66, SD = 0.91). These median, mode, mean and standard deviations on items 15-24 are presented in Table 13. The results of the statistical analysis indicate as hypothesized, that the MBA degree has provided the surveyed alumni with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, future upward mobility opportunities) as compared to before the degree. The null hypothesis is therefore rejected. Table 13 Measures of Central Tendency for Items 15-24(Intrinsic Career Outcomes) Item Q15 Mdn 4.0 Mode 4.0 94 M 3.87 SD 0.89

Q16 Q17 Q18 Q19 Q20 Q21 Q22 Q23 Q24

4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0

4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.0

3.81 3.72 3.84 3.73 3.68 3.78 3.81 3.67 3.66

0.90 0.98 0.91 0.90 0.93 0.90 0.91 0.95 0.91

Note. Q15: The MBA has enhanced my credibility in the workplace. Q16: Because of the MBA, I am more confident in my job. Q17: The MBA has led to greater selfconfidence in my personal life. Q18: The MBA has given me the ability to handle and analyze complex data. Q19: The MBA has helped me be more effective in meetings. Q20: The MBA has improved my negotiation skills.Q21: The MBA has helped me manage teams and individuals more effectively. Q22: The MBA has enhanced my ability to work more effectively with others. Q23: Because of the MBA I have become more assertive in dealing with others. Q24: The MBA has improved my interpersonal skills. Research Question 4 RQ4. What are the gender differences in intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, and future upward mobility opportunities) of MBA alumnus? Ha4: Women will have more favorable intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, future upward mobility opportunities) as compared to men. Ho4: There will be no significant difference in reported answer by gender 95

To examine research question 4, a univariate analysis of variance (ANOVA) was conducted to assess if there were differences in intrinsic scores by gender. The independent variable was gender and the dependent variable was intrinsic career outcomes. The results of the ANOVA were not statistically significant, F (1, 395) = 0.26, p = .608, 2 =.001, suggesting that males and females did not differ on their intrinsic scores. The partial eta squared value of .001 is very small and indicates gender provided a very small effect. The null hypothesis cannot be rejected; there is not a statistically significant difference between males and females in their report of intrinsic career outcomes. Results of the ANOVA are presented in Table 14 and the means and standard deviations are presented in Table 15. Table 14 ANOVA for Intrinsic Scores by Gender Source Gender Error Df 1 395 MS 0.15 0.56 F 0.26 p .608 Partial 2 .001

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Table 15 Means and Standard Deviations for Intrinsic Career Outcomes by Gender Male Variable M SD M Female SD

Intrinsic career outcomes

3.76

0.75

3.73

0.75

Chapter Summary The intent of this chapter was to provide an overview of the characteristics of the survey respondents, as well as provide detailed statistical analysis of the survey results in order to answer the research questions. As noted both extrinsic and intrinsic career outcomes were noted as results of the acquisition of the MBA. The majority of respondents agreed or strongly agreed with the statements concerning the acquisition of extrinsic and intrinsic outcomes. When controlled for gender surprisingly there did not appear to be any statistical difference between men and women in terms of both extrinsic and intrinsic career outcomes for this data set. In this case the hypothesis was therefore accepted for both hypothesis 1, The MBA degree has provided the alumnus with perceived additional value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree and hypothesis 3, The MBA degree has provided the alumnus with perceived additional value added intrinsic career outcomes (increased confidence, enhanced interpersonal skills, increased self-worth, future upward mobility opportunities) as compared to before the degree. 97

The null hypothesis cannot be rejected for hypothesis 2, there will be no significant difference in extrinsic career outcomes reported answer by gender and hypothesis 4, there will be no significant difference in intrinsic career outcomes reported answer by gender as there was no statistical difference between men and women when it came to either extrinsic or intrinsic career outcomes. Chapter 5 will provide a discussion of the results and their implications.

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CHAPTER 5. DISUCSSION, IMPLICATIONS, RECOMMENDATIONS Introduction The purpose of this research was to examine the relationship between selfreported intrinsic and extrinsic career outcomes of individuals who hold an MBA from an accredited institution living and working in the United States or Canada. Further, the researcher specifically looked to address the career outcome differences between male and female graduates; in order to measure for disparity between the sexes. The research was conducted through a custom designed, self-directed on-line survey, whereby over 500 purposefully selected participants responded to 46 survey items, in order to address four research questions. Chapter 4 contains the detailed findings of the study, as well as a summary of the statistical results of the research. This included an overview of the demographic characteristics of the respondents, correlational analysis of the research control variables, as well as the outcomes of the research questions. Chapter 5 is an explanation of these results, including a discussion of the findings and the implications of these findings. Emphasis will focus on the implications to current research, as well as to various MBA stakeholders including alumni, prospective students, business schools, as well as MBA employers. Limitations on the current research will be provided, as well as suggestions regarding the direction of future research. Discussion of the Findings and Summary of the Conclusions This section is an overview of the research findings and the conclusions from the research. This will be done by delving in the relationship between MBA attainment and extrinsic and intrinsic career outcomes for both men and women. 99

Extrinsic career outcomes. This researcher examined the effect of having an MBA on extrinsic career outcomes within the context of human capital theory. Variables in the study included the perception of increased extrinsic career outcomes (salary increase, increase in the number of promotions, increased span of control) by having alumni reflect on career outcomes before and after the MBA degree. The career outcome variables of increased salary, increased number of promotions and increased spans of control are widely accepted in the literature as important benchmarks of extrinsic career success (Melamed, 1996; Wellman, 2005). As noted in this research having an MBA is important as it relates to extrinsic career outcomes. As the data in chapter 4 illustrates, this study empirically demonstrated the conclusion that the MBA degree provided the alumni with perceived value added extrinsic career outcomes (salary increase, increase in number of promotions, increased span of control) as compared to before the degree. Nine questions formed the metric for extrinsic career outcomes, with respondents agreeing or strongly agreeing to enhanced extrinsic outcomes in 70-80% of the cases. 20-30% of the cases were neutral. It is clear from the outcomes that the overwhelming majority of MBA alumni found their MBA to be valuable in terms of extrinsic career outcomes, as compared to before the degree. The researcher also examined and considered this conclusion as it related to a number of demographic and control variables. Correlation analysis on extrinsic outcomes were positively significantly correlated for the educational degree participants had prior to obtaining the MBA, current salary, the number people managed daily and the number of promotions received. Those with salaries in excess of $100,000 annually, those that managed ten or more people and those that had a least one promotion since hire 100

by their current employer tended to have the highest extrinsic score. In addition those that had acquired a graduate degree in advance of the MBA also tended to demonstrate higher extrinsic outcome scores. MBA alumni surveyed for this research reported that they believe that the human capital variable of having an MBA contributed to successful extrinsic career outcomes. This conclusion supports considerable volumes of literature that presented similar outcomes. The earning opportunity and perceived promotional and leadership opportunities afforded by the MBA are well documented in the literature. Ainsworth and Morley (1995) obtained similar results in that business school alumni found the MBA led to successful work outcomes with between 75% and 90% of respondents rating these categories at the upper end of the scale in their survey. Other researchers asserted that the lifetime earnings for MBA graduates are higher than for those with similar backgrounds, but without the degree (Daniel, 1998, Sturges et al., 2003; Wellman, 2005; Florence, 2009). Simpson et al., (2005) found that in virtually every case of their 225 survey respondents, participants believed the MBA had advanced their careers, and that they had gained financial advantage from the degree. The conclusions of this research run in stark contrast to MBA education critics who challenge the notion that the degree is a catalyst for career success (Pfeffer & Fong, 2002). Pfeffer & Fong (2002) claim there is little evidence that the mastery of the knowledge acquired in business schools enhances peoples careers, or that even attaining the credential has much effect on graduates salaried or career attainment (p. 80). Intrinsic career outcomes. It is clear from the data presented in Chapter 4 that the large majority of MBA alumni believed both the credential of the MBA itself and the 101

skills and knowledge they actually learned were valuable in their career outcomes. In differentiating outcomes between internal and external, this researcher also addressed the perception of increased intrinsic career outcomes such as increased self-confidence, enhanced interpersonal skills, increased self-worth, and future mobility opportunities) by having alumni reflect on career outcomes before and after the MBA degree. Intrinsic career outcomes are noted outcomes of the MBA degree based on the work of multiple researchers. Baruch and Leeming (2001), who based their research on 344 MBA alumni, found the primary value added of the MBA went beyond salary and career mobility, and was chiefly found in increased levels of satisfaction gained from achieving personal goals and increased competencies. Simpson et al., (2005) pointed to well documented intrinsic benefits from the MBA, both in terms of personal growth and improved organizational output leading to increased perception of personal value. As noted in this research, having an MBA is important as it relates to intrinsic career outcomes. As the data in chapter 4 illustrates, this study empirically demonstrates that the MBA degree provided the alumni with increased intrinsic career outcomes such as increased self-confidence, enhanced interpersonal skills, increased self-worth, and future mobility opportunities as compared to before the degree. Nine questions made up the metric for intrinsic career outcomes, with respondents agreeing or strongly agreeing to enhanced extrinsic outcomes in 70-80% of the cases. 20-30% of the cases were neutral. It is clear from the outcomes that the overwhelming majority of MBA alumni found their MBA to be valuable in terms of intrinsic career outcomes. This researcher also examined and considered this conclusion as it related to a number of demographic and control variables. Correlation analysis on intrinsic 102

outcomes were positively significantly correlated for the educational degree participants had prior to obtaining the MBA, current salary, the number people managed daily and the number of promotions received. For intrinsic outcomes, the strongest effect size was noted for the number of peopled managed. Those who managed in excess of 10 people were more likely to note higher intrinsic career outcomes. The conclusions of this research run in agreement with the wide body of research that suggests the positive association between the MBA and intrinsic career outcomes. This research supports extensive work by Simpson et al., (2005) who upon surveying 225 alumni found that most students motivations for pursuing the degree were initially based on extrinsic ideals, but upon reflecting over their career noted a strong association to intrinsic outcomes. Alumni noted higher levels of confidence and enhanced interpersonal skills (Simpson et al., 2005). Kretovics (1999), found the MBA degree added significant skill value for graduates including sense making and initiative and Baruch and Leeming (2001), found the primary value added for the MBA went beyond salary to increased levels of satisfaction earned from achieving personal goals and competencies. Gender. Considerable research to date has focused on the economic and personal value of the MBA over the course of ones career. The impact of gender has been much less explored; in particular the relationship between gender and intrinsic and extrinsic career outcomes. Much of the current body of research has focused exclusively on variances between men and women when it comes to salary and wages (Morrison, White & Van Velsor, 1988; Cox & Harquil, 1991; Judge et al., 1995; Melamed, 1995; Melamed, 1996; Simpson, 2000a; Catalyst, 2003). Very little research has controlled for educational attainment, career outcomes and gender simultaneously. 103

A surprising conclusion from this study is that gender was not a significant factor when it came to extrinsic or intrinsic career outcomes. The results of ANOVA for both intrinsic and extrinsic scores and gender were not statistically significant for either control variable, indicating that gender provided only a very small effect on perceptions. This was an unanticipated finding, although it does support a similar outcome by Wellman (2005) whereby gender had virtually no significance in relation to career outcomes. In Wellmans study outcomes were not distinguished between intrinsic or extrinsic. The findings of this research stand in contrast to the findings of other researchers (Tucker, 1985; Leeming & Baruch, 1998; Simpson, 1995; Simpson, 1996; Simpson, 2000a; Simpson et al., 2005). It is important to distinguish that the sample populations in these research examples were not comparable as this research was focused exclusively on Canadian and US alumni, whereas Leeming & Baruch (1998) and Simpson (2005) focused on UK and Canadian samples, which could have a bearing on the results. The gender variances and social role differences between countries could prove a plausible explanation for the variance. In may also be possible as suggested by Wellman (2005) that the effects of gender are cumulative over a greater period of time and therefore significant difference between the sexes may not have emerged yet. The alumni in this sample have only been out of school for between 5 and 15 years. Wood, Corcoran and Courant (1993) in an examination of law school graduates and the effect of gender, concluded that in the early part of ones career women earn only slightly less than their male counterparts. It is only after 15 years post-graduation that the income gap widens and those women earn about 104

60% of men (Wood et al., 1993). This may suggest that studying alumni over a larger range of career entry time may yield different results when it comes to their perception of career outcomes. Recommendations for Future Research The study provides a significant step forward in affirming the link between having an MBA and increases in extrinsic and intrinsic career outcomes. The insight into the career outcome differences between intrinsic and extrinsic factors, as well as the link to gender is a significant leap forward beyond the traditional financial cost/ benefit analysis of having an MBA. This research failed to show a strong relationship between career outcomes and gender which while supported by a small body of research, appears counter to numerous internationally based studies. Future research requires refinement of the measures for both intrinsic and extrinsic outcomes in order to better understand the impact of other control variables. In addition more in-depth analysis of the impact of gender and a broadening of the research sample will allow for greater applicability of the findings. While this research provided an adequate analysis of outcome for graduates between the years 1995- 2005, future research should focus efforts on longer term comparative analysis between the genders to determine the effects on career outcomes beyond 15 years post MBA. Future researchers should take a longitudinal perspective which may provide insight into the cumulative effects of gender over time on both extrinsic and intrinsic career outcomes. In addition, future research could be enhanced by exploring variables related to career breaks, the effects of the family structure and child

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rearing, as well as longer term social issues of discrimination and inequality as correlational variables to career outcomes. The links in this research between current salary, span of control and number of promotions since hire and the perceived value of the MBA also provide questions that should be addressed in future research. This current research suggests that those that are more successful in their career from an extrinsic perspective, put more weight on the value of the MBA. Exploring this link through additional academic study would provide interesting insight into other variables which may be influencing this success, such as school tier, grade point average, intelligence level, association with personal networks, etc. A future study on the comparative analysis between MBA alumni and non-MBAs with similar levels of career outcomes could address if the MBA enhanced managerial competence or if personal drive and intelligence are factors in positive career outcomes. This current research suggested a strong correlation between MBA attainment and having another form of graduate degree before the MBA degree and increased extrinsic and extrinsic career outcomes. Future research that examines the motivations for attaining an MBA when a student already has a graduate degree could provide useful insights for those contemplating graduate school and the outcome benefits of different degree programs. The impact of dual degrees and pairing an MBA with a more specialized degree is a popular format in business school offerings today (i.e. MBA/Law, MBA/MD). Future research should focus on the career outcome advantages of this format with particular regard to skills, competencies and measures of career outcome success. The outcomes of this future research would be of particular interest to those

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contemplating a dual degree and the administrators of business schools who offer them in determining the value proposition for these degrees. While this research focused exclusively on alumni that attended full time, bricks and mortar universities, examining the differences in career outcomes between the numerous format models could prove as useful for future research direction. Looking at full time, part time, executive education, on-line programs, distance education programs and accelerated programs in comparison to career outcomes could provide useful insight as hybrids of mainstream education continue to gain popularity. As more students look toward alternative learning styles business schools have put a focus on new and innovative methods of degree attainment to attract students. The variability in the career outcomes of these program styles could provide interesting and insightful research outcomes for prospective students, as well as for business schools. A final recommendation for future research came from the answers to one of the survey questions. One of the questions asked the MBA alumni if they managed people and how many people they managed. One very interesting outcome of this research was the very low volume of employees the survey participants managed. Surprisingly, 29.9% of those surveyed managed either directly or indirectly no staff. 34.2% managed between 1-9 people. This is a very interesting outcome, as most mainstream business schools market themselves specifically as a training ground for future managers (Mintzberg, 2004). The survey responses from this research indicate that business schools may be failing at this task. While most MBA alumni in this study affirmed they had received positive career outcomes, if the assertion that business schools develop managers is

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assumed true, the present study suggests that these alumni are failing in what they are being groomed to do. This is an important research issue as MBA critics argue exactly this fact. Outspoken opponents argue that MBA programs are doing a poor job in producing managers and that the educational techniques required to be a good manager cannot be taught in the classroom (Mintzberg, 2004). This brings into question the skills actually achieved from the program itself and how these link with ones ability to manage others. Florence (2009) explored the subject of management skill versus business administration mastery as outcomes of the MBA. 65% of alumni believed that MBA is primarily about becoming a master of business administration, which may be devoid of managing people; rather it is process and technical skills orientated. Future research should explore the longitudinal factors of management responsibility later in ones career, as well as the relationship between the MBA and the desire and skills acquired to lead people. Implications for Practice MBA prospects and alumni. Research has shown that more than any other degree, business degree students are most likely to view their education as a stepping stone to a lucrative career (Rynes et al., 2003, Lawsome & Llies, 2003). This careerist approach asserts that learning is motivated by personal advancement. It is through educational growth and personal development that one can ascribe to advance personally (Pfeffer & Fong, 2004; Buchanan, 2006). Completing any degree requires a significant investment in time, money and personal drive. This research demonstrates that the MBA does provide increased levels of extrinsic and intrinsic career outcomes as opposed to 108

before the degree. It can therefore be stated that the MBA does provide value added outcomes to graduates and enhances their career outcomes, thus making it a solid investment for anyone considering the degree. The results affirm for alumni that the degree was and will likely continue to be a good investment. From the conclusions of this research it seems that prospective students considering embarking on the degree can feel assured that it will give them some long term career outcome advantages. It is critical that these students properly assess and research the schools being considered since this research did not compare the variability in outcomes by school, school tier or MBA type (full time, part time, distance education, on-line, executive education, and accelerated programs). Prospective students must also consider the cost/benefit of the degree for themselves personally. Like any educational program the MBA requires a significant amount of personal sacrifice, academic commitment and financial resources; these must be carefully weighed against potential outcomes. Higher pay for MBAs has been validated through the literature (Connolly, 2003) and affirmed here in this research. Research has suggested that the MBA pays for itself over ones career (Baruch & Peiperi, 2000), but it is important to recognize this financial calculation does not account for the personal sacrifices required as part of the degree experience. Prior to embarking on the program, prospective students need to carefully evaluate their motivation for the degree, their level of commitment and their human capital requirements. Business schools. The administration of a business school is big business with the financial and operational challenges of an organization. With top line and bottom line financial requirements, the industry of business education requires savvy skills in 109

marketing, branding and recruiting. With heated competition, business schools are forced to find ways to differentiate themselves and their brand. This is often done through rankings which provide prospective students and alumni the information to see how schools stack up against each other in multiple criteria including career outcomes. Rankings are believed to make schools more responsive because students, faculty and recruiters may be polled (Mintzberg, 2004). More recently the value of the MBA has been under criticism from a series of vocal, academically respected opponents. These researchers challenge the value of the MBA (Pfeffer & Fong, 2002; Mintzberg, 2004) on career outcomes and suggest the MBA has little impact on how well a student will do long term in their career. This negative press has ignited a contentious, rather public media debate, which has put a great deal of pressure on business schools to prove their investment value for prospective students and alumni. The conclusions of this research provide solid evidence that the investment and effort in the acquisition of the MBA provides more enhanced career outcomes than without the degree. While this represents good news for business schools in predicting career outcomes, it fails to address the variability in outcomes depending on school tier, school brand or MBA type (full time, part time, on-line, distance education, executive education accelerated). In the future business schools should conduct their own research to measure outcomes. Prospective students can feel assured that completing an MBA in general is a good financial investment, leading to positive intrinsic and extrinsic career outcomes, but the variability between schools has not been explored as part of this research.

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Employers. The MBA degree has become a well-recognized credential in the business world and as such the outcomes of any research pertaining to it are important to employers. Research indicates a strong link between human capital development and economic growth (Becker, 1964, Cohnm 1979; Melamed, 1996; Steward, 2009). Proponents of human capital theory assert that the acquisition of the MBA degree increases ones human capital (Florence, 2009). In accordance with classical labor theory, the value of the firm is dictated by the productivity of its workers and since higher productivity results in higher output and returns, then investments in human capital are important (Cohn, 1979). Demand for the MBA degree continues to grow, much of this is fueled by the increased value placed on the degree by the organizations that hire them (Gruber, 2001; Wellman, 2005). As a result, employers should be interested in maintaining the satisfaction of workers in the acquisition of the degree. This researcher suggests that employees by and large perceive positives career outcomes from the degree, but graduates can serve organizations well if they continue to receive increases in salary, promotional opportunities, increased spans or control and gain the ability to apply their talents and knowledge over their careers. Employers should be alerted from this research to the fact that so many MBA alumni fail to manage anyone (29.9%) and that organizations may not be utilizing the talents of graduates optimally for what they are trained to do. This research failed to explore job satisfaction and mobility both which could have a detrimental effect on employer workforces and would be well suited for further study.

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Study Limitations Limitations in research methods, data collection and data analysis are apparent in any research study (Creswell, 2003). Three primary limitations are noted in this research, which could prove useful in future research. These include the sampling procedure utilized, the effect of self-reported data and inherent bias caused by it, as well as the reflective nature of the study itself. The purposeful sampling procedure used in this research decreases the generalizability of the findings (Creswell, 2003) and as such raises legitimate questions regarding the applicability of the findings to all MBA graduates. The sample used for this research consisted of a very large population of North American based World Wide Web users. From this population, participants were purposefully recruited based on their affiliation with Zoomerang, a market research company. While the total number of respondents (n=520) was an excellent response, it represents only those participants that are affiliated with Zoomerang and users of the World Wide Web. Due to the selfselected nature of participation in Zoomerangs market research activities, the sample population is not entirely random. While the population is deemed to be large, it may be that those respondents that participate in market research surveys and those that self selectively decide to participate in an on-line survey are not entirely representative of the general views of the entire North American alumni network. This study was also limited to individuals living in North America both during the education process and during their careers and as a result non North American students are not well represented in the study. As such there is an inability to generalize the outcomes of this research on a global basis. 112

This study design while with some noted limitations did provide a number of benefits in terms of diversity. The nature of the recruitment method allowed for a broad cohort of participants who had attended many different institutions across either the United States or Canada; this more heterogeneous group allows the researcher a higher level of generalization and external validity (Melamed, 1996) than studying one school alone. In addition to the broad cross section of institutions represented, the geographic dispersion of the respondents also has enabled the researcher to capture alumni across who work across a range of industries, in a number of diverse organizational structures and within varying socio-economic locales. The self-reported nature of the survey directly relates to a common method variance (Buchanan, 2006). Self-reported data can create inherent bias and criticism has come from researchers who question results that come from questionnaires that ask people to report on themselves and their jobs (Spector, 1994). Given the design of the research and the non-availability of objective sources of data, such as archival data, selfreporting was deemed the most appropriate method for the acquisition of the data even in light of the limitations. Kuncel, Crede and Thomas (2004) suggested that those with higher cognitive ability demonstrated higher reliability in reporting higher actual grades than those with lower cognitive ability. By using a sample of specifically MBA students for this research, the assumption is that they all possess a higher cognitive ability and have been adequately screened through the MBA entry criteria. As a result it should hold that these self-reported research answers will be generally more accurate because of the participants cognitive ability. 113

The generalizability of the results of this research also depends on the accuracy of the response sample provided by the participants. Studies of organizational behavior typically depend on the results that come in a self-reported fashion from the participants themselves relating to the variables of interest (Buchanan, 2006). Unless undue pressure to provide desired answers or influences are exerted, which this methodology did not do, there is no reason to believe the answers were fabricated or untrue. All respondents were in a position of complete neutrality and anonymity of the data collected was ensured and consent to participate acknowledged as part of research methodology. For the purpose of this research those with the most intimate knowledge of their career outcomes were the alumni themselves and were therefore best positioned to provide the most clarity with regard to the research questions even when considering the inherent limitation or bias. This researcher has exclusively explored self-reported data from alumni; and therefore it fails to address the perceptions that other influencers or sources of evaluation may have. In particular this research did not evaluate those of equal career outcome who lack the MBA designation, those who manage or lead MBAs or MBA educators. It did not compare the outcomes of a group of MBA of both genders to a cohort of their peers without MBAs or those with other professional designations, particularly those with other post graduate work that may see themselves having made comparable contributes to their human capital. All of these comparative variables could provide a basis for future research consideration. Finally, this research may be limited due to the reflective nature of the data collection methodology. Since all information was collected from MBA alumni who had 114

graduated at least 5 years ago, participants required some reflection on their pre-MBA experience, as well as earlier career progression. It may be possible that data is distorted by self-justification and a recency bias (Baruch & Peiperi, 2000). While this is much less likely on objective data such as extrinsic career outcomes, there may be some tendency to mis-state the more subjective, intrinsic outcomes (Simpson et al., 2005). Chapter Summary Consistency between the results generated in this study and the results reported in applicable academic research support the premise that the acquisition of an MBA leads to positive career outcomes. The large and diverse volume of participants recruited for this study provides a basis of confidence that the results attained here are representative of the views of MBA alumni who graduated between the years 1995-2005 and who are living and working in North America. The retrospective sources of value encompass both extrinsic and intrinsic career outcomes for both men and women. An interesting outcome of this research was that gender did not prove to be a significant factor in the degree of extrinsic and intrinsic career outcomes between men and women. As illustrated in this chapter, the outcome of this research opens the door to volumes of additional questions which could prove as usual direction for future research. Most notability an analysis of the impact of gender over time may provide valuable insights on the effects of career breaks, child rearing and female discrimination over the course of male and female careers. Further research should also focus on the control variables noted as correlations in this study including current wage levels, span of control and number of employees managed; all which pointed to stronger perceived career outcomes for survey respondents. Further research should also look at the impact of 115

degree type and the value of dual degrees as predictive elements to enhanced career outcomes. This research has attempted to address to the impact of these findings on numerous MBA stakeholders, including the motivations of those that contemplate the degree, the MBA alumni themselves, the business schools that teach the skills and the business world that continue to demand the demand the degree, as well as those organizations that perceive value in hiring those with the degree. The limitations and boundaries of the research are also highlighted and have been addressed as directional for future research. The MBA is and continues to be a pinnacle of academic achievement. Possibly because the degree is so popular, so sought after and has so much mystic, it is surrounded with controversy and challenge around its long term value and personal outcomes. Mass media and academic research alike have provided so much scientific and anecdotal information about the MBA, formed opinions on those that take it, questioned the schools that offer it and challenged the employers that seek it. In light of the swirling controversy surrounding the MBA degree the decision to pursue an advanced degree is always one of personal choice based on situation and motivation. While definitive explanations on career outcomes continue to remain elusive, it is hoped this research affirms that both men and women alumni who have made the investment in time, financial resources and energy perceive positive extrinsic and intrinsic benefit from their investment. It is hoped this research will continue to generate insightful discussion on this topic and provide a catalyst for the direction of future research.

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APPENDIX: SURVEY INSTRUMENT Section 1. The first section of the instrument is intended to solicit information regarding current employment and the MBA. 1. What is the total number of organizations you have worked for or owned since completing the MBA? ________________ 2. How would you classify your current employment situation a. b. c. d. e. f. g. Student Self employed Unemployed Homemaker Employed Disabled/ extended sick leave Other

3. How long have you been employed at your current employer? Years/ Months ________________ 4. In which industry do you work? a. b. c. d. e. f. g. h. i. Consulting Finance/accounting Education Manufacturing Technology Healthcare Pharmaceuticals Energy/ utilities Other

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5. In which sector do you work? a. b. c. d. Corporate Government Academic/education Non-profit

6. Do you work for a public or private company? a. Public b. Private 7. How many people are employed in your organization a. b. c. d. e. f. Less than 25 From 25-99 From 100-499 From 500-999 More than 1000 Dont know

8. Your current job title is a. b. c. d. Owner Executive Management Direct employee with no leadership responsibilities

9. Your current salary is (pre-tax wages, annual bonuses, dividends and commissions) a. b. c. d. e. f. Less than $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $249,999 More than $250,000

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10. How many people do you manage either directly or indirectly? a. b. c. d. e. f. I do not manage other employees From 1-9 From 10-49 From 50-99 From 100-499 More than 500

11. How many promotions have you had since you were hired? a. I have had no promotions since hired b. 2-5 promotions since hired c. More than 5 promotions since hired

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Section 2. The research questions on these topics are operationalized through a series of statements to which participants responded using a five-point Likert Scale format, ranging from 5strongly agree to 1- strongly disagree and includes the option of N/A- not applicable. The first series of questions are designed to determine the extent to which the alumnus believes the MBA contributed to their individual value.
Strongly Agree 5 Agree 4 Neutral 3 Disagree 2 Strongly Disagree 1 Not Applicable N/A

12

The MBA has enhanced my credibility in the workplace Because of the MBA I am more confident in my job The MBA has led to greater self confidence in my personal life The MBA has given me the ability to handle and analyze complex data The MBA has helped me be more effective in meetings The MBA has improved my negotiation skills manage teams and individuals more effectively The MBA has enhanced my ability to work more effectively with others have become more assertive dealing with others The MBA has improved my interpersonal skills

13

14

15

16

17

18

19

20

21

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In the following section a series of statements are designed to determine the retrospective sources of value contributed by the MBA to the respondents career progression and to the respondents contribution to their firm.
Strongly Agree 5 Agree 4 Neutral 3 Disagree 2 Strongly Disagree 1 Not Applicable N/A

22

23

24

The MBA has been relevant to my career Having an MBA has made it easier for me to find fulfilling employment improved marketability and mobility opportunities for me The MBA has enhanced job prospects for me The MBA has enhanced my salary opportunities The MBA has enhanced my employment status with knowledge and skills which have contributed to enhanced work outcomes The knowledge and skills gained from the MBA have increased my productivity gained from the MBA have allowed me to enhance the productivity of others in Because of the MBA I am more satisfied with my career than before

25

26

27

28

29

30

31

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Section 3. Section 3 will capture required demographic measures. 32. Gender a. Female b. Male 33. Ethnicity a. b. c. d. e. f. White Black (African America, African Canadian) Native Indian (Aboriginal Peoples, First Nations) Hispanic Asian (including Pacific Islanders) Other

34. Current Geographic Location a. United States b. Canada 35. Current Age ________________ 36. Marital Status a. b. c. d. e. Single Married Divorced Common law partnership Widow

37. Educational Background before the MBA a. b. c. d. Undergraduate degree Master degree in other discipline than business PhD Other

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38. Undergraduate Major Classification a. b. c. d. e. f. g. h. Business & commerce Humanities & social Sciences Life sciences Languages Engineering Physical sciences Health sciences Other

39. GMAT Scores a. b. c. d. e. f. g. Below 200 200-299 300-399 400-499 500-599 600-699 Above 700

40. Number of Years of pre-MBA Work Experience a. b. c. d. No prior full time work experience Less than 2 years 2 years to 5 years More than 5 years

41. Age when MBA was complete ________________ 42. Year the MBA was complete ________________ 43. Graduate school Attended ________________

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44. MBA Program Major a. b. c. d. e. f. g. Strategy Marketing Finance Accounting Organizational behavior Operations management Other

45. MBA Program Type a. b. c. d. Full-time Part-time Executive Part-time On-line program

46. Initial Motivation for taking the MBA a. b. c. d. e. f. Improved job opportunities To change career direction To obtain business qualification To gain intellectual stimulation To obtain general skills To increase my salary

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