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eplusk
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I found myself in a similar spot a month back. I work in the silicon valley where a lot of people frown at the idea of an MBA. I debated it for a while, slept on it and finally decided to ask both my direct boss and my group's director. Initially both of them were quite surprised and my director tried to talk me out of it. It took me a couple of hours to convince him. I'm still not sure if he is totally on board, but he agreed to write a strong letter. My boss for some reason was easier and didn't try to talk me out of it - she more readily agreed to write the letter . Unless you fear that asking for a letter is going to significantly increase the risk of being fired, I would suggest you ask your current boss. Go prepared though and be ready to answer his/her questions. More importantly think of ways you can justify and convince him/her that you require an MBA.
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I found myself in a similar spot a month back. I work in the silicon valley where a lot of people frown at the idea of an MBA. I debated it for a while, slept on it and finally decided to ask both my direct boss and my group's director. Initially both of them were quite surprised and my director tried to talk me out of it. But a couple of hours of talking seemed to have convinced him. I'm still not sure if he is totally on board, but he agreed to write a strong letter. My boss for some reason was easier and didn't try to talk me out of it - she more readily agreed to write the letter. Unless you fear this is significantly going to increase the risk of being fired, I would suggest you ask your current boss. Go prepared though and be ready to answer his/her questions. More importantly think of ways you can justify and convince him/her that you require an MBA.

Thanks a lot for your perspective, it's great hearing from someone that went through a similar situation. My reason for getting a MBA is to change industries and gain skills to eventually take over my family business. Do you think I could still explain to my boss why I want a MBA and that I want to gain more skills for my long term goal? I don't think I could work an angle explaining the MBA as it pertains to my current job since investment management is a CFA-driven industry.
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I found myself in a similar spot a month back. I work in the silicon valley where a lot of people frown at the idea of an MBA. I debated it for a while, slept on it and finally decided to ask both my direct boss and my group's director. Initially both of them were quite surprised and my director tried to talk me out of it. But a couple of hours of talking seemed to have convinced him. I'm still not sure if he is totally on board, but he agreed to write a strong letter. My boss for some reason was easier and didn't try to talk me out of it - she more readily agreed to write the letter. Unless you fear this is significantly going to increase the risk of being fired, I would suggest you ask your current boss. Go prepared though and be ready to answer his/her questions. More importantly think of ways you can justify and convince him/her that you require an MBA.

Thanks a lot for your perspective, it's great hearing from someone that went through a similar situation. My reason for getting a MBA is to change industries and gain skills to eventually take over my family business. Do you think I could still explain to my boss why I want a MBA and that I want to gain more skills for my long term goal? I don't think I could work an angle explaining the MBA as it pertains to my current job since investment management is a CFA-driven industry.

Yes, I think thats your best bet. If I were you, I would be honest with my long term goal and how an MBA fits nicely in the path to it. Good luck!
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This is a tricky case; so it's no wonder you are struggling. If I were you, I would *not* risk my job by asking my current boss for a reference. You've pointed to a number of warning signals here, such as the fact that few employees from your group follow the MBA track.

Among the alternatives you've proposed, there are pros and cons. At the end of the day, I would go with #3, your long-time mentor. You should add a brief explanation in an optional essay to explain your choice. I believe that a mentor who is invested in your success and who can compare you to other young professionals is better than a peer (unless a peer reference is specifically requested). Perhaps the mentor could provide insight on the things that he has counseled you about over the years and the good judgment you've displayed. He can also highlight the strengths that he has observed and supply evidence based on his knowledge of your accomplishments. The key will be to include concrete examples and evidence to match the high praise.
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Just as a follow up -

I spoke with someone at my firm that went through something similar a few years ago and from his experience I learned it would be fine to tell my boss. I ended up telling him I am planning to go to grad school next fall. I explained my situation, how I plan to eventually run my family business and need management experience, and he totally understood. He's going to write my recommendation! I realized that even if I did get fired, it's not the end of the world. There are so many other interests I have out there business-wise and I'd love the opportunity to pursue them.

Thanks for the help everyone!