How to get a PM Role as an MBA Graduate

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As a new graduate with a Masters in Business Administration (MBA), there are many options available to you. Today, more and more MBA graduates are pursuing careers in technology over more traditional fields: In 2016, 19% of Harvard Business School graduates went into technology, compared to only 1% in 2012. In addition, many of these graduates are attracted to product management because some of the skills learned during an MBA program are transferable. 

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But how do you get a Product Manager (PM) role as an MBA graduate with little or no experience? We’ll discuss how aspiring PMss with an MBA can do just that. But first, let’s discuss the value of obtaining an MBA – and how it can supplement other skills. 

Do you need an MBA to be a Product Manager? 

The saying goes, “all roads lead to Rome,” and to that end, there are many paths to becoming a Product Manager. As the “CEO of a product,” PMs are responsible for many different aspects of the product’s strategy and execution in a multidisciplinary fashion, often involving customer interviews, digging into analytics, giving specs to engineers, and coordinating with all parts of the organization to bring a product to life.

While most people don’t go to school to become a product manager, an MBA program can benefit product management because it covers the broad swath of topics and essential skills PMs must have – particularly the development of solid business acumen. 

An MBA program is designed to teach you how to identify core competencies and market dynamics to develop a strategy for your organization. MBA students drill down to learn the nuts and bolts of how a company makes decisions, how each department in an organization —such as business, accounting, marketing, and finance— functions, and how each relates to one another. 

Product management interacts with the departments, but from a slightly different perspective—through the lens of how to best drive work and execute projects across each of these functional areas.

MBA programs generally consist of three parts, and each has value in the role of a PM: 

1. Frameworks and case studies. For example, the concept of SWOT analyses (strengths, weaknesses, opportunities, and threats) enables you to craft product strategies that make sense in a competitive landscape. Frameworks and case studies also will help you develop PM critical thinking and problem-solving skills.
2. Reflections on past experiences. This will help you develop empathy – a must-have for customer or user-centric product development that solves common problems individuals have. 
3. Networking opportunities. Many people say the actual value of an MBA lies in the network it gives you access to. Most schools have a strong culture of alumni helping each other out in terms of career guidance, job referrals, understanding domains, which is helpful for graduates as they enter the job market. Networking will also help you learn how to communicate effectively: a sometimes overlooked “soft skill” that enables you to coordinate complex projects with cross-functional teams. 

With an MBA, you’ll understand the entire business, not just one piece of it. It makes it easier to relate to stakeholders’ mindsets in very different roles who have contrasting priorities.

How to get a PM Role as an MBA Graduate? Lean on What You Learned in B-school

If you do not have prior product experience of any kind, an MBA might help you land your first PM job – if you know how to leverage your expertise. Not only can an MBA open the door to moving into the field, but it can also reposition you and make you a more attractive candidate for a position. Your expanded network can also help get you an entry point into different organizations.

• Some B-schools have alumni-driven Product Management workshops and academic electives that can help you understand the role better and guide you through interview preparation. 
• Your classmates are likely to consist of a wide range of disciplines, including developers, product managers, designers, etc. — learning from a diverse cohort under one roof will offer practical and valuable insights for the role. In addition, getting dedicated interview prep partners is a lot easier in a b-school, which helps much more than any other factor in landing the job. You may even partner with them to work on PM-related side projects, which will give you more experience. 

Earlier, we discussed three parts of the MBA curriculum that can be loosely applied to product management. But how do they translate to the day-to-day roles and responsibilities of a product manager? For simplicity, we’ll refer to Shreyas Doshi’s three senses of a PM framework: product knowledge, analytical knowledge, and lastly, execution. 

Three essential product management skills learned in an MBA

1. Developing a “product mindset”

MBA students take a wide range of courses that help with product design thinking, market research, strategy, and behavioral courses that help them understand how people think. They also teach frameworks around pricing psychology, customer research, techniques, and ROI analysis valuable for PMs. 

Case studies teach strategy, often focusing on what went wrong with a business/strategic decision and why. From critically evaluating an existing growth strategy to being aware of unforeseen disruption, MBAs curriculum helps aspiring PMs keep the “big picture” in mind when making product decisions.

2. Data-driven decision-making 

MBA imbibes structured thinking that helps in breaking down a problem. It exposes you to multiple analytical techniques and tools and educates you about the limitations of those tools.

Developing a solid analytics background can help PMs with problem discovery and answering the question, “Is it worth solving given the current resources/limitations?” In addition, it is critical to understand how a potential product will impact key business metrics – and more importantly, relay this information to leadership. 

3. Execution 

Once you have determined what problem you’re solving and whether it is worth solving, you need to execute to get things done. For this, communicating your vision in an appealing way to align all stakeholders is essential for PMs. You also need to be able to manage stakeholders across departments effectively. This includes spending time in meetings dealing with people, understanding their problems, brainstorming, and solving last-mile execution problems. 

Other ways to get a PM role as an MBA graduate 

1. Real-world experience 

Anyone can put together a product strategy, but can you get it done? Can you work with people? Can you manage the politics of it? That is what you have to do to be a successful product manager.

One way to gain real-world experience is to look within your current organization and ask to take on any relevant PM work. An even better way is to ask to shadow a PM who works on a product you’re familiar with. As an assistant product manager, learn how to identify problems and craft new initiatives that achieve measurable business outcomes. When you’re ready, ask for junior-level projects that allow you to gain more experience.

2. Grow your knowledge on your own 

In addition to reviewing the extensive list of resources, coaching, and discussion boards at PM Exercises, there are plenty of books that every aspiring PM should read. 

3. Build your own product

Your ability to do this depends significantly on your technical skills, but even non-technical folks can build a product if they can find help. Fortunately, many software engineers are looking to transition into product management, so finding a partner can be as easy as asking someone in your network. 

Takeaways: Is an MBA Worth it in Product Management?

Product management encompasses a host of tasks, from product conceptualization to facilitating user testing. An MBA helps with some of these tasks but not all of them. Thus, while it is an MBA that will help you build a strong network and learn useful management and business skills; it is not a golden ticket to becoming a PM. 

The best way to become a PM is to demonstrate that you have the skills to take on the challenging role. Preparing for a PM interview is another excellent way to help you learn what’s required as a Product Manager. PM Exercises has an extensive list of interview-prep resources, including self-guided interview questions, online courses, and private coaching to a community of over 30,000 professionals just like you –– all to help you ace your big interview! 

Join our community today and build your product management toolset!