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Intern
Joined: 09 Oct 2008
Posts: 35
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I just wanted to throw this one out there to see why people on this forum are choosing to apply now. And by WHY NOW, I mean why are you choosing to apply in a time of complete uncertainty in the financial markets. Why are we (I am included) applying when GS is laying off 10% and other firms dropped off the face of the earth? Seems to me that so many of the top 15 schools had placements in finance that ranged in the 30% to 50% range. What will happen when bankers will become consultants, and consultants will become.....? What will happen when more financial institutions pull student loans?
I ask this question because all of my friends provide me with 100 reasons why I should not apply now. I am applying because I have reached a point in my career where I cannot move forward without an MBA. I absolutely need it. But I am aware that others have a choice to postpone their MBA quest. So Why Now?
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Senior Manager
Joined: 16 Jul 2008
Posts: 291
Schools: INSEAD Dec'10
Followers: 2
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Captain wrote: I am applying because I have reached a point in my career where I cannot move forward without an MBA. Same here. Although I could move forward witout an MBA, but not in the desired direction.
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Manager
Joined: 12 Aug 2008
Posts: 185
Location: Buffalo, NY
Schools: Simon '11
Followers: 1
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I'm applying now because I have no prior business degree and the company I'm working for requires formal business training to advance at all beyond my current role (Which I achieved in a year and a half when it usually takes about 4-5 years without a degree).
Theoretically I could go back and get another bachelor's degree but the time and effort would not be worth it. The MBA will enable me to advance much more quickly than would be possible by staying in my position for another 3 years before I'm allowed to move forward. It stinks that this is all happening at the time the finance sector is collapsing but if I don't act now I don't think I'm going to have many more opportunities to show how I've advanced since I've been told that it will be impossible to do so without the degree.
Looks like most of us are in a similar boat. I haven't seen too many finance castoffs here yet...
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Director
Joined: 27 Jun 2008
Posts: 551
WE 1: Investment Banking - 6yrs
Followers: 1
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I'm applying now because I'm tired of my job...so thought of taking the plunge 
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Intern
Joined: 09 Oct 2008
Posts: 35
Followers: 0
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But why are you looking past the economic turmoil? Do you have faith that things will turn out better in 2011? I am concerned because as a student in the class of 2011, I would need to look for internships in the fall of 2009/winter of 2010. I am not sure that the job market will show signs of improvement by this time.
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Manager
Joined: 12 Aug 2008
Posts: 185
Location: Buffalo, NY
Schools: Simon '11
Followers: 1
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I'm looking past the economic turmoil because my situation is such where it will probably still be more profitable for me to pursue the MBA even if I don't get an ideal job immediately after school. The opportunities will still be much greater for me than they would be if I toiled in my boring job for another few years and waited out the recession.
Basically, anything at all is better than my current job and the MBA will open doors for me, even if they aren't the best possible doors.
If I postpone I'm concerned my application will be far weaker as I will not be able to advance as quickly as I did over the past 2 years so now is the time, weak economy or not.
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SVP
Joined: 05 Aug 2007
Posts: 1502
Schools: NYU Stern '11
Followers: 15
Kudos [?]:
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Why now? Because market forces are changing the way business is being done in my industry, and I want to use an MBA to be able to exploit a nascent niche market that I expect to mature within the next 5 years. Of course, that's just what I'm telling the admissions committee.  The real reason behind "why now" is a rather severe quarter life crisis.
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Manager
Joined: 07 Apr 2008
Posts: 77
Followers: 2
Kudos [?]:
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Why now? 1. I always wanted to do an MBA and I started the whole process (GMAT, applications, etc) before the whole crisis. Once I start something, I finish it. I won't let this crisis or anything else get in the way of my plans  2. I need an MBA in order switch career and I don't see any other way to do that. 3. By the time we graduate (in 3 yrs) the market will be booming again, so this is actually the best time to get an MBA!! I think we were lucky (or smart, for those who saw it coming) to start the process early. 4. An MBA is a long term investment. So even if the market doesn't turn around by the time we graduate (which I personally doubt), it will still pay off in the end
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Current Student
Joined: 21 Aug 2008
Posts: 348
Schools: Fuqua '11
Followers: 5
Kudos [?]:
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Like many others, my background is in technical consulting and I was compsci undergrad, and I'm tired of managers seeing my skillset/degrees on a resume and saying 'oh wow, we've got a perfect Java development spot for ya!'. Give that to someone with no people skills / big-picture thinking ability.* I think I can do more.
And while many bankers may be moving into consulting, I like to think that the consulting experience I've acquired pre-MBA gives me a leg up on them, even if we both graduate with MBAs in 2011.
Most importantly, I feel there's so much more one receives than just a higher salary/responsibility from a full-time MBA. You can't put a price on 2 years of getting to share/receive ideas/theories/knowledge with a group of diverse, intelligent people that you will find in a top MBA program. Just think about where you are now and how that would be different w/o knowing the people you did from undergrad.
*disclaimer: having worked with many developers with excellent teamworking abilities, I don't mean to typecast. But we all know someone who fits the above description.
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Current Student
Joined: 17 Jan 2008
Posts: 587
Location: Ann Arbor, MI
Schools: Ross '12 (MBA/MS)
Followers: 1
Kudos [?]:
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An MBA is the most effective and efficient way I can facilitate my career transition. This, coupled with the clarity of my goals, makes now the best time for me to earn my MBA. Basically, I've identified getting an MBA as the best career move for me right now, given my objectives. Why would I continue to ram my head into the same wall trying to switch careers when an MBA will provide me with the hammer to knock that wall down?
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Intern
Joined: 09 Oct 2008
Posts: 35
Followers: 0
Kudos [?]:
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Virflo wrote: Why now? 1. I always wanted to do an MBA and I started the whole process (GMAT, applications, etc) before the whole crisis. Once I start something, I finish it. I won't let this crisis or anything else get in the way of my plans 2. I need an MBA in order switch career and I don't see any other way to do that. 3. By the time we graduate (in 3 yrs) the market will be booming again, so this is actually the best time to get an MBA!! I think we were lucky (or smart, for those who saw it coming) to start the process early. 4. An MBA is a long term investment. So even if the market doesn't turn around by the time we graduate (which I personally doubt), it will still pay off in the end Ditto
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VP
Joined: 28 Feb 2008
Posts: 1323
Schools: Tuck
Followers: 6
Kudos [?]:
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Why now? My industry is going through a huge upheaval/change right now. It seems like nobody knows what the future will hold. When could possibly be a better time to start my new career? Crisis often leads to a lot of opportunities. RF
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SVP
Joined: 04 Dec 2007
Posts: 1689
Schools: Kellogg '11
Followers: 13
Kudos [?]:
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My job pays well but I want to move within the industry to a different role. I can't really do that w/o an MBA. I also don't have the connections to move within the industry to a different company. The now comes in because I'd like to leave my current job but really can't without the mba...
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Manager
Joined: 09 Sep 2008
Posts: 164
Followers: 1
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1 - The project I work on is out of funding next fall, and I could potentially be out of a job then. So it's nice to have something else to do. If I don't get into the school(s) I want, I'll just get another cool job, though.
2 - The economy sucks, but in my field, I'm sure I could find work. Nevertheless, for long-term career advancement, you need a grad degree. MBAs are rare in my field, and I think that having one plus the experience that I do will let me go far.
3 - Options. Honestly, who here REALLY knows what they'll be doing after graduation from B-school? MBA programs are huge door-openers - I might decide I want to switch careers, or do something different in the field I'm in already.
4 - Timing. The economy blows, and it's going to be a long recession. Come 2011, we'll just be on the upswing - i.e. the perfect time to re-enter the job market with a killer marketable degree to take full advantage of it.
5 - All the hot chicks in business school.
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Director
Joined: 25 Dec 2007
Posts: 524
Schools: Harvard '11
Followers: 8
Kudos [?]:
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I am lucky enough to be insulated from the flailing economy (at least professionally - my personal stocks have nose-dived). I think this is a good time in my development to take the plunge and get an MBA. Generally though, why put off something for tomorrow when you can do it today?
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Current Student
Joined: 27 Jul 2007
Posts: 874
Location: Sunny So Cal
Schools: CBS, Cornell, Duke, Ross, Darden
Followers: 11
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Ntang wrote: 5 - All the hot chicks in business school.  Where are you applying? No b-school is flooded with hot chicks - not even USC (Marshall). However, USC's undergrad student body, that's another story. IHateTheGMAT can back me up on this.
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VP
Joined: 28 Feb 2008
Posts: 1323
Schools: Tuck
Followers: 6
Kudos [?]:
111
[0], given: 6
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msday86 wrote: I am lucky enough to be insulated from the flailing economy (at least professionally - my personal stocks have nose-dived). I think this is a good time in my development to take the plunge and get an MBA. Generally though, why put off something for tomorrow when you can do it today? flail (flāl) v. flailed, flail·ing, flails 1. To move vigorously or erratically; thrash about. 2. To strike or lash out violently. Was that an intention pun? RF
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VP
Joined: 11 Dec 2006
Posts: 1429
Location: New York, NY
Schools: NYU Stern 2009
Followers: 34
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Captain wrote: But why are you looking past the economic turmoil? Do you have faith that things will turn out better in 2011? I am concerned because as a student in the class of 2011, I would need to look for internships in the fall of 2009/winter of 2010. I am not sure that the job market will show signs of improvement by this time. I had to talk to prospectives about this all the time. Try and remember that the class of 2009 applied in 2006, and left jobs at the top of the market. It is virtually impossible to call how the market will be when you graduate. There will always be jobs and summers for MBA candidates - the grad recruitment teams operate in a completely different world to the economy and business drivers. So long as there is prospects for the future, they will always look to take some people.
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Director
Joined: 25 Dec 2007
Posts: 524
Schools: Harvard '11
Followers: 8
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refurb wrote: msday86 wrote: I am lucky enough to be insulated from the flailing economy (at least professionally - my personal stocks have nose-dived). I think this is a good time in my development to take the plunge and get an MBA. Generally though, why put off something for tomorrow when you can do it today? flail (flāl) v. flailed, flail·ing, flails 1. To move vigorously or erratically; thrash about. 2. To strike or lash out violently. Was that an intention pun? RF YEP - I initially wrote "failing" but thought the extra 'l' added some value
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Joined: 31 Dec 1969
Location: United States
Concentration: Marketing, Other
GMAT 1: 710 Q49 V38
WE: Accounting (Accounting)
Followers: 0
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Well... my main reason. I'm 26 (27 at matriculation), and I want my MBA and I want kids. So. If I want to have kids before I'm 40 and actually have a solid career (being a woman) - I should go now. And secondly, I want to get out of my current industry. If I stayed here another few years, I would not progress as much as I would if I went to a full-time MBA program. I am looking forward to meeting new people, from various professions and growing my network and business knowledge. Coming from an IT and writing background, I need that business foundation to accomplish my long term goals.
If the economy doesn't fit in to my long term personal and professional goals, then so be it. I'm confident I will make it work out in the end. People are too reactive in my opinion, don't lose faith that this is the right decision just because the news is blasting something discouraging (when is it not?).
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