More Than Money: Questions Every MBA Needs to Answer: Redefining Risk and Reward for a Life of Purpose

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Rating: 5 / 5

For those who don’t know his work, Albion is the dean of the school of living a work/life of purpose. His former books, particularly “Making a Life, Making a Living,” have focused on those already in the work force and often well along in their careers. Now, Albion turns his spotlight on MBAs (actually on all fresh graduates, not just MBAs) starting down the career path. Until now, “What Color Is My Parachute?” was the only book most grads would read. But I think Albion’s book should be placed at or above that Richard Bolles’ classic.

Albion’s premise is simple to say but hard to execute: Defining success must go beyond money and to the things that truly make us happy — family, a sense of meaning in life, important connections. But so many of us defer that dream right out of the career gate, opting for the bigger bucks and promising ourselves that we’ll get to the joy stuff later. Albion, using techniques he perfected as a Harvard Business School prof, simply and clearly shows us how life can be an “AND” instead of an “OR.” We can build a career with money and meaning. It’s not alchemy.

I’m not sure everyone who reads this book will instantly begin employing its methodology but I am sure that Albion makes people ask the right questions. At the least, that’s a great place to start.
Rating: 5 / 5

This is the best book I have read since I entered business school. 99% of my career research thus far had been focused on typical post MBA careers (e.g. investment banking, consulting, etc.). Mark takes a completely different approach and asks what are you passionate about? What makes you excited to get out of bed each morning and live life to the fullest? I realized very quickly while reading Mark’s book that I was researching careers based on other people’s expectations of success. There is an expectation at business school to pursue glamorous jobs like banking, etc. In fact, isn’t that the reason why most ambitious people get an MBA? More Than Money encouraged me to look deep inside myself. What I found, quite frankly, was that I was not being true to my inner spirit. I recommend this book to any MBA student who trying to determine their course in life or if they are interested in taking a pause to evaluate their career decisions. You will find the material in the book to be enlightening and inspiring. Mark encourages each MBA to find their passions in life. If you work at something you are passionate about…you will never work a day in your life.
Rating: 5 / 5

The author seems to be out of touch with the realities of today’s MBA and everyday Americans. He fails to include that freedom to do what one wants costs a lot of money, which not everyone has.

The author says we should look at our own core values OTHER than money to determine our career choices. We should not just stick to the cookie cutter post MBA jobs such as investment banking and consulting. Rather, we should focus on what is really important to us and try to get into a career that will allow us to serve others. Moreover, making such a choice early in life is important since it becomes more difficult later in one’s career.

The author seems to be removed from the financial realities of life in America. A very substantial portion of Americans live from paycheck to paycheck. Even a top notch MBA grad will make an average of low six figures which will not make him or her “wealthy”. If you combine the fact a two year MBA can cost well over $250K (tuition+lost wages) in investment, it isn’t surprising many MBAs cannot pay off their student loans even after 10-20 years after their MBA. If you add everyday bills such as mortgage, raising children, and retirement, then making lot money is not merely greed, but a neccessity.

Given the author’s rather privileged background, it is easy to see why he lacks understanding of many of today’s MBAs. The author says his family is full of big time lawyers, doctors, and CEOs. He seems to come from a rather wealthy family. The author has an MBA from Harvard and made a lot of money (probably several millions) from consulting and owning his business. Many of his examples are Harvard MBA grads who sometimes made hundreds of millions of dollars. It seems the author never had to struggle financially and always lived a financially stable life. No wonder he could easily walk away from his privileged life and do something he wants for far less money. He can afford to.

As far as the fisherman in a Mexican small village story, I think the story is cute but not pratical. Did you know that medical problems are number one reason for personal bankruptcy in America? If you have no money, you could be happy, but you certainly may not be able to pay for basic neccessities, such as medical care, when you really need one.

You don’t want to end up poor and helpless?

Then you better do something else than heed the author’s advice such as do smalltime fishing in Mexico unless you are a multi-millionaire like the author.
Rating: 2 / 5

We have all heard stories of business school graduates who took decades to realize the careers they chose right out of school were the wrong ones for them. Benefit from the teachings in this book and start building yourself a sustainable career now, so you don’t have to undo your mistakes later.

–Erika Haas, Stanford MBA, 1998
Rating: 5 / 5