Advice pls: Continue low tier MBA or go for top MBA later?

Question

Long time listener, first time caller. **Didn't know which subforum to post this so sorry if this is the wrong section.

I'm a student attending a low-tier small private school in the Southeast. Unfortunately, not benefiting from career expertise found on this forum and others until recently, I was stooped into buying into my school's  Finish a MBA in only one extra year!  diploma mill campaign and am now just two classes away from finishing a dual 5 year BS/MBA.

Of course, I realize my error now and that any MBA worth having requires work experience and should be ranked in the top 10-20 (which my university is  faaarrr  from). My original career goal was to go into healthcare administration at a mid-sized or VA hospital, where the MBA prestige perhaps has less bearing. But now I am looking into proverbial forks in the road...what if I want to become a healthcare consultant (which I've started to become pretty interested in as of late)? Or go into the top executive level at a major hospital system? Then of course a Tuck or Fuqua will be looked upon favorably by McKinsey or MD Anderson than my no-name B school, ceteris paribus. And I know that prestige will only matter more as my generation navigates the competitive job market now and decades into the future...Again, wish someone had told me this earlier! But I don't have the MBA paper yet so its not too late I hope...

So two choices I'd appreciate your input on:

1) Finish MBA from my low tier program. Work hard, network, and get experience to progress my career.  I can also get a MHA or MPH from a good school in the future (Cornell, Columbia, etc) but will the completed MBA from my current low tier program put a taint on my CV?  As how a University of Phoenix masters degree looks worst than having a masters at all (ex. from the eyes of Big Consulting Firms)? Other points to consider: MPH or MHA programs are less competitive than MBA, but  can I explain to the AdCom how having the prior MBA would not be redundant to the MHA or MPH especially for programs with a health management focus?

2) Quit my current MBA program as sunk costs, start career for experience, then go for the top B schools later.  Would I be able to explain in my application why I quit my earlier program?  Assuming I can even get into a top 20, is the "prestige and networking" benefit of a top program worth my exit from an earlier, less prestigious MBA program, in the perspective of the AdCom?

Any constructive feedback is welcomed. Harsh, or otherwise. Thank you!

ShoeBunny · Answer

If you decide to go with option #2, you should know the policies of the schools you plan to target. Some business schools do not accept students who already have an MBA--regardless of where it was earned.

It you go with option #1, you ought to reach out the some alumni from your program, and find out what career paths they followed. And whether or not they recommend finishing the program or not. Good luck!

EngineeringMBA · Answer

I'd personally go with Option 2 if you are confident that you can put in the legwork to get into a top program (for example, if you come from a lesser known school you'll likely need a higher GPA, etc.). I'm not sure about the situation but as long as you can frame the decision to quit your MBA program into something positive you'll be okay when you're applying. Best of luck!
As ShoeBunny mentioned, some MBA programs won't admit people who already have MBAs. And for those that do, you really, really have to explain why you need another one.

aalba005 · Answer

Wow tough call.

I actually recommend applying to companies you want to work for now while still enrolled. If you are able to land a job that you feel will offer you the right progression to gain admissions to a top program then you can drop out with confidence.

I did a similiar strategy where I applied for jobs while applying for my engineering graduate degree a few years ago. Business school was on my mind back way when so when the job opportunities were not on par with my expectations I enrolled in the 1 year ms engineering degree then hit the job market again with much better results. The only difference is your masters is an MBA.

I just thought of another idea, any way you can go down to your school and request to transition your program from an MBA to an MS in finance or MS in Management if they have it? That would resolve the "already have an MBA" problem and help you with job applications in the near future.

rubey419 · Answer

Thank you all for your input! I am glad that the gravity of my situation is justly interpreted. If anyone else may add insight I would greatly appreciate it.

Thank you ShoeBunny. As with option #2, I am aware that most if not all B-schools do not allow a prior completed MBA, hence the decision I must make (quit now while I am still ahead and practically start again at a higher ranked MBA, or just finish my crappy current MBA program?) That is a good idea about #1 though. I will say that it seems most graduates of my program had gone on to other fields unrelated to healthcare, such as local banking, retail, general management, etc. But to be blunt, there are very few "notable" alumni who made it into the big leagues...1%ers if you will. And not that is necessarily my goal or anything, but I'd like to have options in the future instead of closing the door right now!

Thank you EngineeringMBA! I am definitely leaning #2 too, just the sunk costs are pretty big (of course, that can be outshown in the grand scheme of my career). I believe I can "wiggle" my way in, especially if I get the requisite job experience and GMAT scores, along with my decent GPA, despite having to explain why I quit an earlier MBA program. I agree with you and ShoeBunny that getting a second MBA while having a prior is not only unfeasible, but probably impossible from the top 20.

Thanks allba005! So if I am understanding correctly, you are suggesting to postpone the last few classes of the current MBA, enter the workforce, and see what my opportunities and decision factors are like then? Certainly will take that into consideration as I suppose I don't have a real time limit on my current MBA program. I had actually thought of that second alternative you recommended, but sadly my program is so small it does not offer a range of graduate degrees, and the MBA is the only applicable one in my case.

aalba005 · Answer

Yea life has lots of variability. I dont think you have a cost for keeping the door open at your current MBA program. Spend some months applying for jobs, if you get a job with good potential for responsibility and growth that will traslate to business school, the drop out with confidence.

SeeakingAdvice · Answer

Perhaps you can see if you can transfer credits to another school and another program (say Master in Public Health, Master in Accounting etc..).

Advice pls: Continue low tier MBA or go for top MBA later?

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