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Career switch from O&G industry after 10yrs experience

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Career switch from O&G industry after 10yrs experience [#permalink]

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New post 02 Jun 2017, 23:09
Dear GC members,
I have a big doubt hovering above me. Should I or should I not go for MBA.
Basic reason is to change my stream, due to continuous downfall of oil & gas industry, it looks very risky to pursue this field.
I recently lost my job but managed to find something again, however it involves a big time monetary compromise. I am just scared that if the trend continues earning bread and butter for the family would become a distant dream .

So a couple of doubts are:
1. Should I or should I not go for MBA

2. In case I plan to go for it. Is it better to leave the current peanuts earning job and work full time towards MBA or does it bring any scratch in profile that I was not working while studying (in case I plan to quit)

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Re: Career switch from O&G industry after 10yrs experience [#permalink]

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New post 05 Jun 2017, 22:02
mehraumang wrote:
Dear GC members,
I have a big doubt hovering above me. Should I or should I not go for MBA.
Basic reason is to change my stream, due to continuous downfall of oil & gas industry, it looks very risky to pursue this field.
I recently lost my job but managed to find something again, however it involves a big time monetary compromise. I am just scared that if the trend continues earning bread and butter for the family would become a distant dream .

So a couple of doubts are:
1. Should I or should I not go for MBA

2. In case I plan to go for it. Is it better to leave the current peanuts earning job and work full time towards MBA or does it bring any scratch in profile that I was not working while studying (in case I plan to quit)


Hi Umang,

Yes Oil & Gas has been badly hit since 2014 and even after reduction in production of OPEC nations, the trend follows. Did you know that in the aftermath of 2008 financial crises the no.of applications spiked in business schools. I think you're going in the right direction. That is, to enhance your skills and possible change your industry. The opportunity cost will be the least during a recession period. Having said that, you are a better judge of your financial realities should you choose to pursue an MBA

1. How will you finance it? Savings or loan?
2. If loan, how will you repay it?
3. Can you afford to stay out of work force for 2 years or looking at your age maybe 1 year is better or maybe even executive MBA?
4. Go international or domestic?

Apart from your finances, I think it will be a good decision to pursue an MBA now. Hope this helps. Good Luck !

Best,
_________________

Deep A.
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http://www.EduSimplified.com

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Re: Career switch from O&G industry after 10yrs experience [#permalink]

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New post 06 Jun 2017, 19:10
Whether you should pursue MBA or not depends on test score, school, place, job perspective,,,

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New post 09 Jun 2017, 11:05
I think you should strongly consider business school. You made a few mentions to the Importance of finances so you should really evaluate the ROI of bschool and your potential earning power afterwards. A FTMBA would allow you the most flexibility and make it easier to change careers a PTMBA would allow you to earn while learning but could reduce your learning opportunities and limit your location for school as well. But where you are at in your career seems ripe for b school


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Re: Career switch from O&G industry after 10yrs experience [#permalink]

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New post 16 Jul 2017, 00:01
It all depends on the circumstances and the amount of effort you can put in

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Re: Career switch from O&G industry after 10yrs experience [#permalink]

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New post 20 Oct 2017, 19:37
The good thing about your situation is that the opportunity cost of pursuing a FT MBA from a good school is lower than when you had a high paying job. By the time you graduate the price spreads on oil and gas might be much better, and you might be in a position to step into a senior role when you get back into the work force.


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Re: Career switch from O&G industry after 10yrs experience   [#permalink] 20 Oct 2017, 19:37
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