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Should you get an MBA? The fact is, certain companies will not even consider you if you don't have one. Most chief executives today see the MBA as a practical and powerful means of gaining access to the highest echelons in the corporate universe.

Education lays the foundation for your career, helping you to develop problem-solving skills and/or technical expertise. But a specialty degree in your particular field will not only increase your knowledge, it will also make you stand out from the pack. The following quote from a Vice President of an airline illustrates how an MBA helped one woman advance her career. "Had I not had the MBA, I clearly wouldn't be in the position I'm in. Certainly I could have acquired a lot of the knowledge base and financial skills on my own, but it really helps having the staff respect you because you have the same ticket to entry that they did."

The number of women in top MBA programs significantly lags behind men, with women typically accounting for about 30 percent of enrollment¹. While this represents a marked increase over the last 25 to 30 years, it is a proportion that significantly trails the percentage of women in top medical and law schools. This situation highlights dramatic untapped opportunity for women, businesses, and the global economy.

Based on Catalyst's 2002 study, Women and the MBA: Gateway to Opportunity, women who decide to pursue an MBA are overwhelmingly satisfied with the business school experience. Both men and women report extremely high levels of satisfaction with their careers as a whole: 86 percent of women and 89 percent of men are very satisfied or somewhat satisfied with their careers overall. They also report high levels of satisfaction with the value their current employers put on their MBA (85 percent of women and 83 percent of men), as well as with job opportunities in their industry (77 percent of women and 78 percent of men), and with their current positions overall (82 percent of women and 84 percent of men).

Although having an MBA sets you apart, there are still barriers to advancement that women often face in corporations and firms. What continues to hold women back from reaching the top spots in corporate America? According to Catalyst's study, Women in U.S. Corporate Leadership: 2003, the top five barriers are²:

• Lack of significant general management/ line experience
• Exclusion from informal networks
• Stereotyping and preconceptions of women's roles and abilities
• Failure of senior leadership to assume accountability for women's advancement
• Commitment to personal/family responsibilities

Over the years, Catalyst has documented the slow but steady rise of women to the top of corporate America. And while there may still not be a lot of women there, they tell us they certainly want to be. So what have successful women done to get ahead thus far? In her book, Be Your Own Mentor, Catalyst President Sheila Wellington shares advice on how to overcome barriers and strategies for getting ahead once you have your MBA³. Below are the highlights from Sheila's "Eight Axioms for Advancement," described in detail in the book. They provide useful reminders for women navigating their careers.

Catalyst's Eight Axioms for Advancement

1) The best isn't good enough.
Successful women consistently tell Catalyst that performing beyond expectations is critical for advancement. By repeatedly impressing people with outstanding results, you will gain the recognition, respect, and credibility needed to succeed.

2) Time is of the essence.
In order to integrate your work and personal lives in ways that allow you to succeed in both, plan effectively. If the timing isn't right for you to accept an assignment, make sure you communicate your interest and specify when you will be available for it later. Try to anticipate the times in your career when you will be able to be most focused, and use those periods to make major career efforts.

3) If you don't blow your own horn, nobody else will.
Don't wait for people to notice your accomplishments. Successful work deserves public recognition-inside as well as outside your organization. Make sure your colleagues, team members, and-most importantly-your boss, know what you've accomplished.

4) Expertise impresses.
Develop an expertise in a unique specialty. As a result, people will look to you for that knowledge and you will build credibility and standing. Figure out what information or expertise might be lacking at your organization and learn as much as you can about it.

5) Nothing comes to she who waits.
Catalyst research repeatedly shows that taking initiative is critical to getting ahead. Actively pursue high-visibility assignments and advancement opportunities. When you learn about a project that interests you, approach your boss with your plans for completing it, and then do it.

6) It's not just corporations that need to diversify.
You need to gain a broad range of experience to succeed. Build experience in positions with bottom-line responsibilities such as operations or sales. Also, consider making both lateral and downward moves that will give you cross-functional experience. Seek out a structured succession-planning process at your organization.

7) Fortune favors the brave.
In order to advance, you must take risks. Demonstrate your willingness to take on new, different, and difficult assignments that will allow you to show off your talents and prove your executive potential.

8) Money matters.
Make sure you get paid what you're worth. Because women often accept or reject job offers without asking for more money, they tend to start at lower salaries than those who negotiate. Do your research to find out what salary you should ask for-check with recruiting firms, the Internet, other companies advertising similar positions, and current or former employees for information. Also, when your workload gets heavier, ask for more pay.

The bottom line is that earning an MBA leads to:

• increased professional credibility;
• opportunity to change or advance within existing careers; and
• an increase in income.

A myth women still fight is that they don't hold the credentials. But human resources records often reveal that women hold more degrees than men do. Once you get your business degree, make sure everyone knows it. Then focus on overcoming barriers to your own advancement and taking charge of your career. The advice and strategies outlined above are based on Catalyst research.

To learn more about how to advance your career or to purchase Catalyst publications visit www.catalystwomen.org.