Why NOW?

Question

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?

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?

Nerdboy · Answer

Same here. Although I could move forward witout an MBA, but not in the desired direction.

cereal255 · Answer

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...

pm4553 · Answer

I'm applying now because I'm tired of my job...so thought of taking the plunge

Captain · Answer

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.

cereal255 · Answer

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.

solaris1 · Answer

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.

Virflo · Answer

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

bostonsparky · Answer

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.

Yahsek · Answer

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?