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An MBA degree may give you a competitive edge in the workplace, but there are a number of valuable lessons that only real-life work experiences can teach you. Because the harsh truth is, once you’re hired, your degree won’t matter as much as how well you do on the job.

While you should take pride in your accomplishments (because an MBA degree from a prestigious school is nothing to sneeze at), you shouldn’t let it give you a sense of entitlement. Your degree will help you get your foot in the door, but it will take much more from you to keep your job, and grow in the company. At the end of the day, it is performance that counts. Plus, nobody wants to work with someone who acts entitled, especially when he doesn’t have solid work experience. Check your ego at the door.

The fine art of networking is a skill that you learn by practice, and it’s not easy either.

Getting your name out there takes time and effort. Open yourself up to meeting all types of people from all walks of life. Don’t be picky. In work events, chat with anyone and everyone. You’ll never know who might need your skills and services in the future.

Show them that you are unflinching when it comes to overcoming setbacks.

Maynard Webb, chairman of the board at Yahoo, a former COO at eBay, and author of Rebooting Work: Transform How You Work in the Age of Entrepreneurship, has been quoted as saying that he only looks at the applicant’s educational background to check for intellectual prowess. However, he is more interested at how the applicant has overcome challenges and achieved professional success. He tries to find out too if the applicant is in demand in the job market.

Be flexible. Learn to adapt to the ever-shifting business environment.

You must be willing to rework your vision, revise your tactics, and open yourself up to a complete do-over if necessary. Yes, it’s critical to have a goal and a plan, but these days, when everything seems to be in flux, it’s equally important to be adaptable.