Find all School-related info fast with the new School-Specific MBA Forum

It is currently 24 Oct 2014, 19:59

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

I cannot legitimize taking the MBA; talk some sense into me?

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Intern
Intern
avatar
Joined: 10 Jan 2013
Posts: 5
Followers: 0

Kudos [?]: 0 [0], given: 1

I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 26 Feb 2013, 08:25
I’m 30 years old and I work as a Finance Manager whereby I build financial models and run all finance/pricing aspects for contracting projects. I make 80k a year salary and sometimes up to 20k a year in bonus. I also work from home, which has really been the catalyst for me considering an MBA since my situation offers scheduling flexibility. I have a couple of issues with getting an MBA. #1, I dislike school, a lot. #2, I know many people with an MBA and none are as successful as me. So my doubts about an MBA program are probably strongly working against my desire, but my schedule is begging me to do it anyway. I need to sift through the noise and figure out exactly what benefits I could reap from getting involved in the program.

I’m sure someone will ask: what do you want to do in your career? Truth is I don’t really know what I want to do in my career from this point onward. I get bored in jobs easily, and more than anything money is what motivates me to move up in my career. Although, finance is a necessary and relevant field, so I feel I will probably stay here for a while. However I just don’t know where to go in finance next, and would like to understand where an MBA could take me from here, and where hard work and dedication only could take me instead.

Can you provide any positive or negative feedback for a guy who has his doubts? Sorry if any of my anti-MBA talk seems discouraging or condescending, I have just yet to be personally convinced.
Current Student
User avatar
Status: Too close for missiles, switching to guns.
Joined: 23 Oct 2012
Posts: 766
Location: United States
Schools: Johnson (Cornell) - Class of 2015
WE: Military Officer (Military & Defense)
Followers: 12

Kudos [?]: 311 [0], given: 166

Premium Member
Re: I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 26 Feb 2013, 08:32
kiteman wrote:
#2, I know many people with an MBA and none are as successful as me. So my doubts about an MBA program are probably strongly working against my desire, but my schedule is begging me to do it anyway. I need to sift through the noise and figure out exactly what benefits I could reap from getting involved in the program.



Question: Do these people have MBAs from top 16 programs, or do they have an MBA from a middle-to-lower ranked schools? Some people think an MBA is a gateway to huge salaries, when in fact, the market is saturated with MBA programs. Relatively easy to get into ANY school, but difficult to get into a TOP school.

That said, I'm not going to try to sell you on an MBA. If you have free time in your schedule, find a hobby, don't be a degree chaser.
_________________

http://www.youtube.com/watch?v=9fWvub_WBho

Intern
Intern
avatar
Joined: 10 Jan 2013
Posts: 5
Followers: 0

Kudos [?]: 0 [0], given: 1

Re: I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 26 Feb 2013, 09:22
One from Harvard is a peer, but probably makes more money than me. Another from a top 20, who isn't doing anything remarkable. A couple of others from top 50 in the same boat, and then a few from schools that are not intriguing at all.

I'm not looking for you to sell me on anything, just based on my experience and current status, what benefits would an MBA bring over hard work and dedication? And by all means feel free to add "only if you choose a top tier school," etc. as I tend to agree the market is overly saturated with MBAs from just any school. Which rankings should one look at? Seems they vary quite a bit depending on where you are looking (BW, Forbes, etc.).

Lastly I should have added this earlier, but even with a full-time job that has some flexibility, I still have a full-time job. Is getting an MBA even possible while working a full-time job? Should I consider an EMBA instead?
VP
VP
avatar
Joined: 23 Mar 2011
Posts: 1101
Followers: 73

Kudos [?]: 449 [0], given: 455

Premium Member CAT Tests
Re: I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 26 Feb 2013, 10:20
CobraKai wrote:
kiteman wrote:
#2, I know many people with an MBA and none are as successful as me. So my doubts about an MBA program are probably strongly working against my desire, but my schedule is begging me to do it anyway. I need to sift through the noise and figure out exactly what benefits I could reap from getting involved in the program.



Question: Do these people have MBAs from top 16 programs, or do they have an MBA from a middle-to-lower ranked schools? Some people think an MBA is a gateway to huge salaries, when in fact, the market is saturated with MBA programs. Relatively easy to get into ANY school, but difficult to get into a TOP school.

That said, I'm not going to try to sell you on an MBA. If you have free time in your schedule, find a hobby, don't be a degree chaser.


Spot on.

Other thing you can do is, search more on what fields you would like to go to in finance. Would you want to work for a PE/Hedge fund/VC, in corp. finance, banking etc. Some might give you more money than others, if that is what motivates you. (I'm not against that sentiment)
Also, you may decide particular organizations you need to work for or aspire to be in.

Subsequently, check if you can reach your target without an MBA. If yes, you don't need to spend thousands of dollars and invest 1/2 years of your life. You need to work out backwards. No one can/should sell you an MBA.

Best
1 KUDOS received
Current Student
User avatar
Status: Too close for missiles, switching to guns.
Joined: 23 Oct 2012
Posts: 766
Location: United States
Schools: Johnson (Cornell) - Class of 2015
WE: Military Officer (Military & Defense)
Followers: 12

Kudos [?]: 311 [1] , given: 166

Premium Member
Re: I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 26 Feb 2013, 10:41
1
This post received
KUDOS
kiteman wrote:

I'm not looking for you to sell me on anything, just based on my experience and current status, what benefits would an MBA bring over hard work and dedication? And by all means feel free to add "only if you choose a top tier school," etc. as I tend to agree the market is overly saturated with MBAs from just any school. Which rankings should one look at? Seems they vary quite a bit depending on where you are looking (BW, Forbes, etc.).

Lastly I should have added this earlier, but even with a full-time job that has some flexibility, I still have a full-time job. Is getting an MBA even possible while working a full-time job? Should I consider an EMBA instead?


I like these rankings: http://poetsandquants.com/2012/12/07/the-top-100-u-s-mba-programs-of-2012/3/ They tend to be the most objective since it basically averages rankings from different media sources.

The biggest benefit of an MBA is facilitating a career change - whether it's staying in the same industry and switching functions, transferring a function to a different industry, or doing something completely different. Other benefits are the recruiting and networking - again, mainly if you're looking for a new job. As a military officer, I find high value in the MBA in terms of making a career change as I'm not satisfied with opportunities head-hunters can provide, and veteran specific recruiting efforts by some companies tend to pidgeon hole us (i.e. Booz Allen Hamilton hires vets for their government consulting division - getting an MBA from a top school can get you hired to a division of BAH where you actually get to solve real business problems).

If you're looking to move up in your current organization, you may not need an MBA at all. My brother works for a top-tier consulting firm and got promoted to the point where his peers were MBAs, so he really didn't need one, he ended up going to a top 16 for the hell of it - the company was paying and a two-year break sounded good. He's a partner now.

Getting a full-time MBA would mean leaving your job - between classes, school work, recruiting, clubs, etc, you won't have time to work.

An EMBA is iffy. If your company will sponsor you and guarantee you a promotion upon completion, then it sounds like it's worth it. If you just want to get an EMBA on your own (typically weekends, and probably involves travel if you want to go to a top program) and then want to see what kind of doors it'll open, it may be worth it, may not be. You need to see if the tuition (usually as expensive as full-time) and weekends is worth it to you. Same goes for Part-time programs (usually offered as evening classes).
_________________

http://www.youtube.com/watch?v=9fWvub_WBho

Intern
Intern
avatar
Joined: 10 Jan 2013
Posts: 5
Followers: 0

Kudos [?]: 0 [0], given: 1

Re: I cannot legitimize taking the MBA; talk some sense into me? [#permalink] New post 27 Feb 2013, 08:27
Thank you, that is a very informative post. I think I probably need to figure out what exactly I want to do next before I go spending big bucks on a degree "for the hell of it," so to speak. I also work for a Fortune 150 company, so moving up is certainly an option.

I failed to mention this earlier, but I also have a Finance Certificate from a Top 50 school. The program is taught by the same professors that teach the MBA, it is just shorter (6 months) and cheaper. I am not sure how helpful that will be to my career, but it did actually help me get into my current employer (and in fact the hiring manager thought it was an MBA until I clarified in an interview, but luckily I was a good enough interviewer to get the job anyway).

I agree with the EMBA too. I saw a stat on FT that showed the top programs offer an average of a 40% raise to graduates 3yrs after completion compared to before they started the program. If you consider many companies offer COLA increases alone, a 3yr total would be about 10% in that category. Probably many of those employees would have also gotten raises/promotions regardless of the EMBA as well, which dilutes the remaining 30% of that stat also. Spending 200k on the prospect of getting a 25% salary increase is certainly not worth it in my eyes.
Re: I cannot legitimize taking the MBA; talk some sense into me?   [#permalink] 27 Feb 2013, 08:27
    Similar topics Author Replies Last post
Similar
Topics:
Experts publish their posts in the topic Talking MBA Interview Prep and Tips With Our Friend, GrantMeAdmission! CriticalSquare 0 21 Oct 2014, 05:59
1 Should you get an MBA? Some real talk Toubab 0 07 Oct 2014, 07:40
Experts publish their posts in the topic Does it make sense for me to have a master's before my MBA? bartthecartoon 12 16 Feb 2012, 13:02
3 Does MBA make sense for me...? baron 22 03 Oct 2010, 21:01
2 Can some one talk me through the logic on this one. What is Jinglander 3 06 Jul 2010, 08:45
Display posts from previous: Sort by

I cannot legitimize taking the MBA; talk some sense into me?

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.