Mba....??????

[airchitect]

So I've been considering going back to school for my MBA and I'm assuming there will be a ton of people for and against said proposition. Who has one but wish they didn't? In the land of online degrees, are names like HBS or Wharton the only programs actually worth the money now? Throw me you thoughts folks. Lots of reasonably successful people on this forum. Would love to read you thoughts on the subject. Thanks!

[tritium8]

I believe UNC and Arizona have relatively good online MBA programs. I don't think you can ever go wrong getting more education. Also, check to see if your current employer will help pay for some of the tuition. Good luck!

[droptopman]

I have one and it was a great investment. Paid for itself many times over.

[ezmarr]

I have one-my employer at the time paid for most of it-well worth it.

[donas]

That's funny this topic came up today. I spent an hour or two looking at different programs online last night. I do not understand how a Master's Program can vary so much from school to school. As extreme examples, one school I looked at required 10 classes and another in the same state required 20 classes. I am only looking at well known brick and mortar schools, so fly by night useless degrees are not part of the variable. Can anyone provide input, or how many classes their degree required?

[droptopman]

Originally Posted by donas

That's funny this topic came up today. I spent an hour or two looking at different programs online last night. I do not understand how a Master's Program can vary so much from school to school. As extreme examples, one school I looked at required 10 classes and another in the same state required 20 classes. I am only looking at well known brick and mortar schools, so fly by night useless degrees are not part of the variable. Can anyone provide input, or how many classes their degree required?

60 credits. Some schools break the credits down differently. I went through the same thing when shopping schools. I ended up choosing an accelerated program that did 6 credit classes every 5 weeks.

[wantonebad]

I think it's all a matter of your specialization and what you want to study. An area of concentration and focus was more important for me. Figure out if that's what you want and then seek out the program by ranking of that specialization. My concentration was in Data Engineering and Sciences, I went to a top 10 school for IT-Data Management. That's what I recommend for anyone seeking advanced degree's and don't be afraid of looking for a more specific master degree program instead of an MBA. MBA's are fine, but if you like doing certain things, specific to an area of business then pursue that rather than the management of that. JMHO

[superdog]

I am in the process of getting one now.

But I am on the fence with wether or not I will continue. I am essentially 20% of the way done.

I have so far not been very impressed with the professors and instructors. I also find it irritating when I am getting critiqued on certain things from some people that have never been in the field.

I had a business ethics instructor, that did not show up for the scheduled class critique real life situations that he can't have any true perspective on.

Additionally, considering the amount of time I have spent studying, I am wondering if that energy is not better spent putting it into my business.

Which leads me into finally, I am now questioning if it can help my career. Based on what I have seen so far, I am not sure. But I own my business. I was hoping the things I learned would help me get to the next level. But now I am thinking that might not be the case.

One of my professors told me that I am only person he has ever had in class that owns his own business but is going for his MBA. I found that comment, in and of itself, interesting.

[George Burdell]

I've got one. They do offer benefits, but not always the ones that instantly come to mind. If you want to learn specific skills for how to run a business, you'd be far better off starting one and just running it. I personally think you'd learn more tangible skills from taking an accounting class, a finance class, and reading the Wall Street Journal for a year than in an MBA program. If you're moving up a corporate ladder, or making a career change, the MBA can help with that.

I think you learn more from your cohort than you do from the faculty. So if you do it, I would recommend a full-time program. I can't imagine getting half as much from an on-line program.

Here are some pros and cons:

Pros:
- You meet some great people who will likely be business contacts for a very long time.
- You get practice working case studies, which can be helpful for projects in a corporate environment.
- You do learn a lot from classmate experiences, stories, and conversations.
- You will become well versed in the language of business - COGS, the advantages of EBIT vs EBITDA, debits and credits, balance sheets, etc.
- All things being equal on a resume, if you're competing for a job having the MBA likely will tip the scales.
- If you work with a lot of consultants, when any idiot says you should listen to them because you've got an MBA, you can say, "so do I."

Cons:
- Its expensive.
- It takes a long time.
- If you do it full time, its even more expensive because you're not working.
- Aside from the numerical classes (accounting, finance, etc.), you may find some of the concepts in the softer classes to sound a lot like common sense.
- It may not translate into a salary increase that justifies the cost.

Free advice is worth what you pay for it, so take all of the above with a grain of salt. YMMV.

[Magwitch]

I got one and it doubtlessly helped in getting my last couple of jobs even though my expertise is in Oracle, and the MBA is ancillary to that function. I guess it all worked out since I retire in 15 days.

[SMD]

In the US anyway, the value of any MBA program varies significantly depending on the school.

[BristolCavendish]

Originally Posted by SMD

In the US anyway, the value of any MBA program varies significantly depending on the school.

Absolutely. Stanford/Harvard/Wharton/Kellogg = you can write your own ticket.

The others = a coin toss.

[HobokenRolex]

I think it depends on what you want to do after. If you are looking to change careers, a full time program is a great idea. You get the benefit of companies recruiting on campus, etc. Especially at a top school. If you want it so it's something to set you apart from others, it's an ok idea. I did a part time program and my company paid for much of it...so it was an easy decision. Plus, I was not looking for a career change so part time made sense. It is, however, time consuming and potentially very costly. If you're on a good career track, it's still helpful long-term but the benefits may take some time to materialize.

[airchitect]

Thanks for the responses thusfar folks. So it seems most think it's of value. Now obviously that varies based upon age and other considerations. Also, to Seths (and others) point, an MBA may not be for a business owner, but for the guy trying to climb the corp ladder. Honestly though, I can't totally say I want to do when I grow up. As such I've been looking for a more "normal" exec mba, but that still allows me to focus on Operations. Keep the comments coming and I will keep thinking. Thanks!

[Slippy Chips]

I finished mine off in 2010 from a top University. It was difficult. Not as much the content as the volume of work and breadth of material we covered so quickly. Not to mention I did it on top of my full time job which is quite challenging. It has helped me move up although I find there is some contempt from those I work for that don't have an MBA. I hear snide comments every now and then for those who don't have one that resent those who do.

There was ALWAYS something hanging over me. Every weekend, every holiday, every vacation... for three. long. years. The group projects were so time consuming but such a key part of the program. I spent 3 years in the prime of my life consumed with the next accademic deadline and not much else.

Personally I would only opt for in person. I realize online has its value but every single recruiter has asked me if my MBA was in person or online. There is a significant difference in perceived quality and perception matters when you're doing it to get a leg up. As others have mentioned being in a cohort was a huge value and I would agree.

Don't take the decision lightly. It will be hard but it could also be very rewarding.

[Laszlo]

I work with an army of MBAs and the smartest and most respected guy in the room is 60 and never went to college.

[KarlS]

Forget the degree versus what you hope to get out of it...even if you only get 10% more skills it's 10% more than you had the day before. I don't flash my degrees, put them in biblios for public consumption as think an individual should stand on his own. My alumni is a pretty good school INSEAD.

[jhilly8982]

OP, what's your current career? That would certainly help with some insight.

[airchitect]

Like I said, when I grow up I want to figure out what I want to do, but I've had positions as an Architect, inside & outside sales, and now heading up sales operations. I'm very much a type of person who becomes the leader who sets the philosophical tone, so at some point, to be fulfilled career wise, I'm either going to have to have my own deal or have a corner office...

[rr-nyc]

I might be wrong on this but based on what I've seen, the mba's that seem to pay themselves off are the ones that your company encourages you to pursue and paid for. That said, I would not venture out to get an mba and expect anyone to care.

[larsr]

I got my MBA from a top, top tier school (perennially rated top 1-2-3). The degree was unquestionably the launching platform for a successful Wall Street career.

That having been said, I think it matters what your desired course of employment is: if it is Wall Street/Consulting then a big time school helps get you a big time chance at a job. If, on the other hand, your desire is to run a not-for-profit (by way of example) then the cost (both monetary and time) are probably not worth it.

[rr-nyc]

Originally Posted by Laszlo

I work with an army of MBAs and the smartest and most respected guy in the room is 60 and never went to college.

lol

I was kind of thinking something similar. I remember my first meeting of my hiring class. Everyone made sure everyone else knew what school they attended. The guy running the show had a BA from a school nobody heard of. He admitted that he probably wouldn't get an interview today.

To this day, he is the most effective leader I've ever met

[RW16610]

I'm sure you'll end up making the choice that's best for you in the end. Just wanted to wish you the best of luck with everything and the quality of advice here never fails to amaze me. Some great members with so much insight to offer that ultimately gets that thought process going and helps.

[mmbiker]

I am doing a Executive MBA program right now with sponsorship from employer.

So definitely worth it for me. Can't go wrong with more knowledge.

A lot of time commitment through... I don't have kids yet so that's one reason I should do it now.

I find it useful already as I run a business. The business ecology topic was very helpful in knowing a business need to be continuously evolving to survive time


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[airchitect]

I should've added that my co is uber conservative and offers no support, I have 2 kids, and a wife who travels 3days/wk for work....

[Laszlo]

Originally Posted by rr-nyc

lol

I was kind of thinking something similar. I remember my first meeting of my hiring class. Everyone made sure everyone else knew what school they attended. The guy running the show had a BA from a school nobody heard of. He admitted that he probably wouldn't get an interview today.

To this day, he is the most effective leader I've ever met

That's awesome

[lapince]

I studied History in College, never used it once to make a cent in my life but very good for your knowledge and comprehension of world events as History repeats itself.
Worked as a technical translator, was excellent in english when I was 18-30, that changed, and also in real estate. Then at age 30 when I came to Riga I learned Russian, wow what a pain to learn it, hugely difficult language, but glad I did as I speak it fluently, which hugely helps since I live in Odessa. So any kind of studies, at any age, is good IMO. Just choose something that will be helpful for you and not something useless

[tyler1980]

Originally Posted by airchitect

So I've been considering going back to school for my MBA and I'm assuming there will be a ton of people for and against said proposition. Who has one but wish they didn't? In the land of online degrees, are names like HBS or Wharton the only programs actually worth the money now? Throw me you thoughts folks. Lots of reasonably successful people on this forum. Would love to read you thoughts on the subject. Thanks!

Personally to me, education has so much value for no reason other than self improvement. IMO too many people look at college or degrees as vocational training and miss the point of the inherent value of education for education's sake.

You could translate the MBA to increased earnings most likely but even if it doesn't work out that way, I don't think it would be a waste.

[ADB85]

I was in much the same position last year.

When I turned 30 I wanted to do something different, my options were to start my own business, change careers or an MBA. I was leaning towards an MBA as I felt it would benefit my current career and aspirations. I never went to University when I was younger so thought it would be of benefit to me, I am lucky enough that I could have done it full time without overly worrying about cost or income during studying.

As it happens I got offered a job managing a business in the Middle East (which wasn't in my original plans!). So my MBA plans have been put on hold for the short term.

I think it depends on what you want to do when you complete the course and the benefits you feel it would bring. But, I think the general consensus is that a decent MBA pays for itself within several years of completion.

[Spartacus]

Originally Posted by SMD

In the US anyway, the value of any MBA program varies significantly depending on the school.

This is a great point. I have an MBA. I'm in a leadership position at my company. I've interviewed MBAs that did not know a thing about a balance sheet. Lots of MBAs, not all are equal or similar.

My advice is that if you are in it to check a box, it's the wrong degree.

If you are in it for finance, it's probably best to pursue a masters in finance.

If you want to be a CEO, of a large organization, the premier programs are best. They have strong recruitment practices, great courses and the best part? A life changing network.