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Old 08-07-2002, 12:35 AM
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Default OT: Who has a MBA?

I am currently studying for the GMAT in order to go to graduate school. Who has a MBA? What are your thoughts on getting a MBA? Was it worth it?
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Old 08-07-2002, 12:47 AM
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Default In a word. . . YES

I went straight through from undergrad at KU (Univeristiy of Kansas, Class of 89), and got an MBA in Finance from the UT (University of Texas) in 1991. It was difficult at the time to stay in school while my friends were out making decent money, but now I'm glad I stuck with it. Take the time and get the advanced degree. You will derive satisfaction from going the "extra mile". An MBA today is the equivalent of a BS or BA from a couple of decades ago.

Hope this helps.
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Old 08-07-2002, 12:58 AM
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I have one. How much would ya give me for it?

It depends on what you want it for, and what you want to do. I earned one to follow a finance career and maybe pursue investment banking, but later decided I didn't want to deal with the big city life style. I'm too impatient to spend a couple hours traveling 10 miles a day

I'm self employed now, so whether I have a PHD or dropped out of high school doesn't really matter at all. However, I'm thinking of someday going back to teach college (SUMMERS OFF!!!!!!!! BOATINGS BEST CAREER) and it will come in handy then.

I'd spend some time and analyze how or what you'll do with it and then decide if you want to spend the money. If an employer is paying 100%, I'd do it just for that, as long as it was in the nasty months and didn't take away throttle jockey time.

I'd have to say, in my career choice, a BBA is surely worth the effort, and an MBA is always nice to have, but search out your reasons first and make 100% SURE that's the direction for you.

My personal story is that I was going to minor in commercial law at the time when I was still deciding. My guidance counselor said "well, that's 20 extra hours and an MBA is 35 hours more, so it makes sense to get the MBA, you'll get more out of it career wise" (hours may be off, don't recall exactly, but it wasn't far off). So, at the time, it made sense after I thought it over for a while.

In the town we've decided to settle, there are less than a handful of companies in this area that would hire an MBA and pay them because of that education.

Mark
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Old 08-07-2002, 01:02 AM
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I agree with getting the degree but it will be more useful/meaningful if you already have some experience under your belt. I started with a BSME and worked for several years in that capacity. While working I went back to school a got the MBA. There are a couple of benefits, 1) you have a lot more info. to challenge/discuss issues from the real world with your professors 2) most companies will support/pay tuition, books, and some provide comp time. And if they think you have what it takes to run the company (become and officer) some day, they will send you to "charm" school.

A Masters Degree should mean exactly that, the Master of something. If you have not experienced business first hand, how can you be considered a Master of its administration.

By the way, you need to weigh the opportunity cost of staying in school versus getting a job. As the economy slows, you may see the job market soften which lowers the opportunity cost of staying in school. On the other hand, if the job market is hot, the opportunity cost for staying in school may be very high as a result of foregone wages/experience etc.

32 makes some great points about your objective (opportunity costs), weighing the alternatives, benefits and what you value.

Just my .02

Kevin

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Old 08-07-2002, 01:32 AM
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I am currently in the middle of a full time program in New York, so I can't tell you much about the other end, but I can say that after working for about 8 years out of college I felt the need to learn a bit more academic knowledge to confirm the stuff i have learned on the job. There are many ways of looking at an MBA. First, you can simply look at the institution you want to attend for its connection swith companies from a recruiting aspect to help find a job. You could also look at it as an education, time off from work, if it's full time, or an oppirtunity to change industries altogether without having to justify a cnahge on your resume. It's true that there is an opportunity cost, maybe part time is the way to go for you. But I would rather have one than not. I am a marketing guy and need to learn more about finance. This is the place to do it. It's also true that you should have a few years under your belt so that you can digest what you learn better and contribute in class your own opinions and experiences. I came across one student, I don't know how she got in, who had 1 year of experience and she was totally lost. She was able to get through the class we shared, but she got next to nothing out of it because she could not conceptualize what was being taught. Business school really does require experience as a prerequisite. If you want any other info or ideas, feel free to call me. 212-614-0236.
-Randy
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Old 08-07-2002, 08:44 AM
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Mine came from Webster University. Few have heard of it, but they are big on satellite campuses. I refer to them as "Harvard on the highway". If the company is paying for it, do it for a hobby. Mine was 2 years, 18 weeks - our classes were 1 night per week for 9 weeks. 5 classes (15 hours) per year.

However, an MBA, any MBA, will open doors for you in a corporate career. At the very least it shows perseverance (sp?) and a desire to raise yourself above the masses.

Good luck.
 
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Old 08-07-2002, 09:07 AM
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My Fiancee tells me she's sorry she got it, in this economy it has not given her any advantage in looking for a job.

My experience in the corporate world is that those people with the right attitude, drive, character, and aptitude will succeed over those with a MBA that don't share the same. MBA "might" open the door, but it comes down to the individual. I know when I'm looking to fill a position within, the degree means nothing to me, I'm more interested in what type of energy and attitude an individual brings to the table. Drive will overcome any disadvantage. Of course, if you share the same drive and have an MBA, it is a good combination, and it's something you will always have.
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Old 08-07-2002, 11:58 AM
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To me it was worth it. Don't expect pots of gold to be laid at your feet, but I say go for it. I found it personally rewarding as well as helpful career wise. I paid for most of mine out of my pocket, but found that even being in grad school helped the old resume out. Found a pretty good job which paid for the last half of the MBA program. I feel I'm making about 10-15% more than I would have without it. By now I have more than recouped the monetary investment. But be prepared for some grief. It will cut into your boating, party, and family time. It's stressful, and at times you will question it's value. Just hang in there.

And what Indy said, it depends on the individual. Experience and ability count as much or more than anything.

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Old 08-07-2002, 01:48 PM
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It depends,

If you go to a top notch school that brings in fortune 500 companies who pay big $ then yes. If you are going to go at night and get it paid for by your current employer it is still good to have. Overall, do it since the MBA puts you in front of the non MBA candidates. But go to the best school you can, the real cost is the time it takes, not the tuition & books. I have an MBA from U of Michigan and it has been a real asset.
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Old 08-07-2002, 06:27 PM
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I concur with Wannabe.

It will help differentiate you from otherwise equally prepared candidates for an open position and may also help you retain your current position in times of downsizing (all things being equal). You probably can also command a slightly higher salary if you switch employers or if it's your first job.

If you go to a top 5 school you'll likely receive more significant advantage - otherwise, you'll need to appreciate the less tangible compensations commensurate with higher education and the slightly elevated status in the corporate world you may receive.

Lastly, the extra knowledge/skills can come in handy every once in while!
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