Top 5 Things I Learned in Business College

Both Min and Anderson found that basic business ideas apply to many aspects of life and work. Anderson recounted, for example, how he applies the general problem solving skills he learned in business school to his work with operations and systems. Min took this theory one step further, explaining that business concepts can even be applied to interpersonal relationships. "Do you know why your mom holds grudges?" he quipped. "I bet a good brand manager can tell you."

Having an advanced business degree allows for more freedom in choosing a career path. Employers are far more likely to interview and hire candidates with a business college degree, and salaries are generally significantly higher. Anderson found that his MBA "helped open many doors," including his door into management consulting where he is thriving. Similarly, Min says that, with a business degree, he is working the same 40-50 hours he did before business college, but he is now making far more money.

Anderson advised future business college students to "find a good school that fits your personality and has things that interest you besides business." Min, like Anderson, currently balances his successful career with a full life and diverse exterior interests. He warns, "Some people put in 100-hour weeks to get more. Some people have no lives outside of work." Though making business college a major part of your life can help pave the way to success, allowing school and work to consume your life is simply not worth it—or, in business-speak, it's all cost with little gain.

Reading people is as important as reading data. Behind any Excel spreadsheet is the force that really drives business: people. Understanding individual and interpersonal motives and behaviors is the first step to understanding business as a whole. Min explained, "The most useful skill that I took away from B-school was how to work with a group of different personalities to achieve a goal…B-school helped me refine my ability to read the dynamics of a group.

Min says, "Everyone will tell you this: network your pants off. I'm not talking about just going to the events that people set up for you. Think of anyone you've ever wanted to meet and contact them. There is nothing more inviting than, 'I'm an MBA student. Can I buy you coffee to extol your greatness?' It's just an introduction, but knowledge, wealth and power come from fat rolodexes."