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MBA plans trigger promotion offer at work - what to do?

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MBA plans trigger promotion offer at work - what to do? [#permalink] New post 02 Dec 2006, 13:11
Hi gals & guys,

Has this happened to anyone of you? How did you decide what to do in the end? Have you decided yet?

OK, let me summarize what I've done so far and what happened to me recently.

- I'm a 30 years old Argentine citizen.
- I've been working at the same firm since graduation (6 years) from top local Tech U.
- I've had steady progress at work since I joined the company, including a 3-year international experience and my current job (since earlier this year) where I manage a group of 5 people at a quite importante division.

I studied and sat for GMAT earlier this year (scored 710). I started preparing apps. for most UE programs and some E programs a few months ago. Before actually applying to my 1st R choices I talked to my boss about my plans and asked for his recommendation. Since I was talking to him so much in advance and I complemented my case with some plans on how to manage the transition (i.e.: I proposed my replacement from within my group and what skills we should help him develop in the meantime), he was quite understanding. I also told him I knew sponsorship was highly unusual, but that I would like to hear what the company thinked.

A few days later (after discussing with the big guy above) he told me that several progress opportunities would present themselves to me during the following year and that he advised I wait till next year to apply. I gently denied and applied anyways. He provided great recs. All this happened before round 1.

Now, a few days ago, we had a meeting where he communicated to me my bonus and we discussed several issues. I was surprised to see I got a special bonus (wouldn't it make sense to save the bonus budget for someone who will stay at the company? I thought). But he went on to mention there may be an opening at a position abroad in the near future and that I would be considered should I delay my MBA plans.

Notes on the position I was offered.

PROs
- Strongly related to my current job, greater responsibilities.
- 3 year - posting abroad with starting salary similar to average UE / E grads (outside MC and IB).
- Significant chances to shine and progress.
- If successful, significant chances to get sponsorship for Exec MBA in 3 / 4 years time.
- Would make it easier to return home in a few years time as employer has significant ops. at home country.

CONs
- Would specialize at my current industry and employer too much, making my prospects of career switching unlikely.
- The "big guys" in charge of this particular operation are quite tough to handle so there's a risk of falling in disfavour with them and stopping progress at any time.
- I feel I have a reasonable chance (50/50%) of progressing more at other firms after my MBA.

So what do you think? Would you postpone? What would be the "cut-off" point (i.e.: would attend UE but not E?)? I'd appreciate your thoughts on this.

Thanks in advance. L.
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 [#permalink] New post 03 Dec 2006, 02:39
First, what's U or UE? You wrote a long post... you might as well write out a couple of words.

Get it in writing.

If they don't, then get your MBA.

My boss's boss did sort of the same thing with me. I asked my boss' boss for a rec letter. I work on the same Trading Desk as him and worked on a couple of projects with him, so he knows my work, but not really well. He said no because he hasn't worked closely with me.

He said that if I stayed 1 more year and worked closely with him, he could write me a recommendation and make a few phone calls. (I know he has connections to 2 top 10 B Schools)

I'm applying this year anyway because he seems like he wouldn't honor his word.
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 [#permalink] New post 03 Dec 2006, 08:25
My main concern is whether this is a guanteed position or a vague promise that something will develop if you stay at your current employer.

Do you think you would like to remain in your current industry in the long run? If so, does this affect your appraisal of the possibility of overspecialization?

Could you still apply to a few Ultra Elite/Elite schools as a safety measure?

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 [#permalink] New post 03 Dec 2006, 08:57
Hjort wrote:
My main concern is whether this is a guanteed position or a vague promise that something will develop if you stay at your current employer.

Do you think you would like to remain in your current industry in the long run? If so, does this affect your appraisal of the possibility of overspecialization?

Could you still apply to a few Ultra Elite/Elite schools as a safety measure?

Hjort


This is basically the same thing I thought. Maybe I'm just cynical because I've had this happen to me more than once - promises of manager positions that never came true ("As soon as he retires you can have it" - never mind that that's five years away) or positions of certain responsibility that changed because projects got canned or priorities shifted...

I'd be weary of any promises - even if you trust this individual - there's just so much that can happen to totally screw this up for you. Economy moves against you, shift in company priorities from management, a restructuring, a change in the market, whatever...
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 [#permalink] New post 03 Dec 2006, 12:32
My sister went through the same thing and stayed at work - got a nice increase and the promise of a promotion. 3 months after application season they told her she would have to wait 2 years to get the position they had in mind. So she is submitting this year. Bottom line is if you want an MBA to better yourself then go for it, if you are looking to leave work and the MBA is your only outlet then it might make sense to stick it out and see if the promotion is real. But if the MBA is in your grand plans for the future - by all means, dont let work get in the way.
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 [#permalink] New post 03 Dec 2006, 15:51
This is interesting.
One of my recommender just told me that there is an opening oposition in sales. My yearly income would jump 40% overnight with the new position.
The recommender asked me whether I can take this position and apply for a part time MBA program. This sales job is a supporting role for my recommender who is a senior account exe.
I thought about this "curve ball" for one day... yeah, just one day!

After serious consideration, I decided to decline the offer.
1. Through writing the essays, I really discovered what I really want to do in a long-term basis.
2. Money is not everything.
3. When I become 50yrs old, I will probably regret for not having gone through a full time MBA.
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 [#permalink] New post 03 Dec 2006, 15:54
died4me wrote:
This is interesting.
One of my recommender just told me that there is an opening oposition in sales. My yearly income would jump 40% overnight with the new position.
The recommender asked me whether I can take this position and apply for a part time MBA program. This sales job is a supporting role for my recommender who is a senior account exe.
I thought about this "curve ball" for one day... yeah, just one day!

After serious consideration, I decided to decline the offer.
1. Through writing the essays, I really discovered what I really want to do in a long-term basis.
2. Money is not everything.
3. When I become 50yrs old, I will probably regret for not having gone through a full time MBA.


You are a better man than me. I would have taken the job, and still applied full time.
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 [#permalink] New post 03 Dec 2006, 17:51
died4me wrote:
This is interesting.
One of my recommender just told me that there is an opening oposition in sales. My yearly income would jump 40% overnight with the new position.
The recommender asked me whether I can take this position and apply for a part time MBA program. This sales job is a supporting role for my recommender who is a senior account exe.
I thought about this "curve ball" for one day... yeah, just one day!

After serious consideration, I decided to decline the offer.
1. Through writing the essays, I really discovered what I really want to do in a long-term basis.
2. Money is not everything.
3. When I become 50yrs old, I will probably regret for not having gone through a full time MBA.


Not even 50... you'll probably regret it when you're 35-40.
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Thanks for the feedback [#permalink] New post 03 Dec 2006, 18:34
Thanks to all for the feedback.

Homefry: UE = Ultra Elite, E = Elite.
Hjort: I've already applied to 2 of Ultra Elites for 1st round and will apply to 4 or 5 more U/E & Es in 2nd round.

My options would be to go full time now (I'm 30 and not getting any younger) or continue working for 3 or 4 more years and then get sponsored for Exec MBA (my employer rarely sponsors full time 2 year, but usually sponsors 1 year Exec programs).

My options are:

A) If I accept the position.
1) Confirm my intention to take the position if offered.
2) Get admitted at UE or E program.
3) I will have to decline admission or break my promise. Is postponing admission an option? I don't think so from what I've read or heard.

B) If I do not accept the position.
1) Apply to programs.
2) Hopefully get accepted by at least one.
3) Quit job.

I'll probably go with B) since I feel I've got a reasonable chance of admission and would probably accept an offer regardless of any job offers.

Again, thanks to all for your help.

Cheers. L.
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 [#permalink] New post 03 Dec 2006, 19:18
Such things often happen when key employees resigns (for whatever reasons). Especially if the employee is a high-calibre type, like those going for MBA.

"Oh, the top mgt was just discussing the other day how we should groom you for a high-level position. It will be good for you to stay for a few more years...."

"You know what? I was about to tell you that we are creating a new position just for you..."

"Joe, let me be honest with you. I have just proposed to Bossy Boss for a 50% increase in your pay AND annual leave."

It is costly when employees (esp key ones) leave. So companies will try to buy them back. It is tempting to stay, but for most cases, it is better to move on.
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 [#permalink] New post 04 Dec 2006, 17:43
rhyme wrote:
died4me wrote:
This is interesting.
One of my recommender just told me that there is an opening oposition in sales. My yearly income would jump 40% overnight with the new position.
The recommender asked me whether I can take this position and apply for a part time MBA program. This sales job is a supporting role for my recommender who is a senior account exe.
I thought about this "curve ball" for one day... yeah, just one day!

After serious consideration, I decided to decline the offer.
1. Through writing the essays, I really discovered what I really want to do in a long-term basis.
2. Money is not everything.
3. When I become 50yrs old, I will probably regret for not having gone through a full time MBA.


You are a better man than me. I would have taken the job, and still applied full time.


Me too rhyme
  [#permalink] 04 Dec 2006, 17:43
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