Questions for any MBAs here...

[Lights]

I've been having thoughts about changing my career entirely, but if I continue doing what I'm doing, an MBA would be a potential next step.

 

For those who have done MBAs, was there a specific career you had in mind at the time? Did you continue in it?

 

I've also heard via the rumor mill that MBAs drastically lose their value when they aren't from the top 15 schools; is there any truth to that?

 

Something I find most disturbing is this: Jack Welch's description of the value of an MBA. I'm certain that different managers have different management styles, so I'm certain that his word isn't necessarily gospel, but the concept of business school as little more than a severely overpriced, exclusive-ified networking event is something I do find disturbing.

[This_Too_Shall_Pass]

I've been having thoughts about changing my career entirely, but if I continue doing what I'm doing, an MBA would be a potential next step.

 

For those who have done MBAs, was there a specific career you had in mind at the time? Did you continue in it?

 

I've also heard via the rumor mill that MBAs drastically lose their value when they aren't from the top 15 schools; is there any truth to that?

 

Something I find most disturbing is this: Jack Welch's description of the value of an MBA. I'm certain that different managers have different management styles, so I'm certain that his word isn't necessarily gospel, but the concept of business school as little more than a severely overpriced, exclusive-ified networking event is something I do find disturbing.

 

I may be able to add something here. It's true that if you graduate from the top 15 or 20 B-Schools, you'll land a job faster, and get a better starting pay, probably with a "starting bonus".

 

But that's the general situation, there are so many exceptions. In the end, MBA is about networking and previous work experience, and it is definitely not cheap. Even with scholarships, it still cost me a bomb, and I didn't even go to the top 15.

 

Jack Welch's description is very right. Before you go to a B-School, see if you have the right kind of experience. You need at least 3 - 4 years of experience for your advanced degree to pay off.

 

As for having a specific career in mind and following that, well, it depends on how lucky you get when you graduate. Mostly, graduates take the best offer and "grow into" the job they get. Working is really about establishing your place in the company and making yourself valued. That comes only with being in a place for a period of time.

[jbmarine]

You will make a great deal of connections in school which will help you should you want to make a career out of your MBA. My dad, who got his MBA from the University of Chicago, went into Investment banking with one of the biggest firms in the world. While I'm going to the same school as him, I don't plan on following in his footsteps, but still see what he did and learn from it.

 

Keep in mind that even if you DO get an MBA from one of the top schools, those things ARE a dime a dozen. Still, they can be very helpful and in addition to getting you more job opportunities, will also help you out a lot when it comes to other stuff such as figuring out what type of mortgage to get, where to work, how to finance stuff, etc.

 

 

In reference to the latter part of your question:

 

There are no real (top 15) schools. While there are schools which are looked at as the better ones, there is no definite number. If you want to look at which ones in terms of a possibility of attending. (I don't know where in school you are.)...

 

Here are the ones mi papi's told me about...

 

Wharton

 

University of Chicago

 

Harvard

 

USC

 

Columbia

 

Dartmouth

 

Northwestern

[norajane]

If you are competing for promotions or jobs against people who hold MBA's, then you are at a disadvantage. That's the primary reason to get one. With so many people having college degrees, companies use MBA's as another level for weeding people out.

 

That can often be balanced with experience, but at higher levels within an organization, everyone has experience. So executives with the degrees might have a leg up.

 

Bottom line, if you can't see yourself making the time and financial commitment, wait until you have a job where they pay tuition reimbursement and then get your degree. If you aren't especially concerned about rising to the executive ranks, then don't worry about it.

[This_Too_Shall_Pass]

Yeah, an advanced degree is often used in the weeding-out process when a company hires applicants. But there are too many MBAs floating around these days, and they all have different amounts of experience, different backgrounds, etc. So the competition is really tough, advanced degree or not.

 

The strength of the MBA degree is definitely when you're lined up for climbing the company ranks, and when you go for a lateral placement at a new company. And yes, the climb is relatively shorter (although not necessarily faster).

 

If you think it will help you, go for it, it's not a bad thing to have. Just keep in mind that you'll be committing quite a bit financially. Another thing - the US job market fluctuates a lot these days. No one can say for sure how the economy and the job market will be when you graduate, so be prepared for that, too.

[alphamale]

Univ of Michigan's programme in MBA is always ranked pretty high....like top 20 or so nationwide.

[johan]

I've worked with some MBAs. It could just have to do with the field I'm in, but I can say that I have yet to be impressed by one. As I interview people and struggle to find people who can perform on a team, I'm starting to care less and less about their education. I'd hire a high school drop out if I knew they were technically astute, had some common sense, and could work collaboratively on a team. If there is a degree that guarantees you have those traits, then I suggest you go for that one.

[pelagicsands]

An MBA from anywhere less than Harvard isn't worth your time. And I should know, because I'm a Master Bullsh*t Artist of the highest calibre.

 

If I was you, I'd consider getting Married By Accident, instead.

[This_Too_Shall_Pass]

I've worked with some MBAs. It could just have to do with the field I'm in, but I can say that I have yet to be impressed by one. As I interview people and struggle to find people who can perform on a team, I'm starting to care less and less about their education. I'd hire a high school drop out if I knew they were technically astute, had some common sense, and could work collaboratively on a team. If there is a degree that guarantees you have those traits, then I suggest you go for that one.

 

You're mostly right. But you're the most right when you say it's particularly because of the field you're in.

 

That said, there is no excuse for stupidity and lack of common sense. And those stay, MBA or not.

[This_Too_Shall_Pass]

An MBA from anywhere less than Harvard isn't worth your time. And I should know, because I'm a Master Bullsh*t Artist of the highest calibre.

 

If I was you, I'd consider getting Married By Accident, instead.

 

And I agree yet again. Not about you being the Master BS artist, but that higher education is overrated a lot of times.

 

But it's not completely a waste, if you know how to play it to your benefit. And that's the point of this thread.

[pelagicsands]

, but that higher education is overrated a lot of times.

You got it, girl.

But it's not completely a waste, if you know how to play it to your benefit. And that's the point of this thread.

You're right, yet again. There's really no need for me to point this out, but backing you up is one of my favourite positions.

[This_Too_Shall_Pass]

You got it, girl.

 

You're right, yet again. There's really no need for me to point this out, but backing you up is one of my favourite positions.

 

Don't even go there, Pinky. Not on this part of the forums. Let one place remain sacrosanct, will you

[wellanydaynow]

Your MBA MUST be from a top rated school, I have one,,but from a "lesser" College. I have a good joke, goes like this.

 

What is the difference between a MBA and a large pizza,

 

 

 

A Pizza will feed a family of 3.

 

Good luck to you, do not wait too long the business world doesn't like old guys either.

[Trialbyfire]

An MBA is a good trailer, at the end of your degrees...

[Poboy]

I've been having thoughts about changing my career entirely, but if I continue doing what I'm doing, an MBA would be a potential next step.

 

For those who have done MBAs, was there a specific career you had in mind at the time? Did you continue in it?

 

I've also heard via the rumor mill that MBAs drastically lose their value when they aren't from the top 15 schools; is there any truth to that?

 

Something I find most disturbing is this: Jack Welch's description of the value of an MBA. I'm certain that different managers have different management styles, so I'm certain that his word isn't necessarily gospel, but the concept of business school as little more than a severely overpriced, exclusive-ified networking event is something I do find disturbing.

 

if you are looking for a career shift , MBA is a good move. but you should be aware of where you want to head to before commiting to the process of going for it. over the 2 years you will spend on campus you may realise you belong somewhere else than what you set out to but if you really know what you want before starting off , you will be better of .

 

well getting into top 5 b schools should be the aim . getting inside is another task. if you have the credentials and finances , dont look any lower than top 5.

 

its not as bad as jack welch points out but there is truth in what he says. you are investing 2 years , a lot of money and sacrifices in life like family , friends in an MBA which might just give you a career change , lots of money in the bank account after graduating from a top scholl which then leads to heavy pressure jobs and not much of a life. its a big choice and is to be taken with all pros and cons analysed and in the end , its all about what you want ... monetary pleasures or life satisfaction. im not saying you cant have both after an MBA but do research well before entering into one.

 

Also MBA is not advised for people who want to do entrepreneurship in the future.

[Lights]

Thanks for your explanations all.

 

I may be able to add something here. ...In the end, MBA is about networking and previous work experience...

Previous work experience in the same career, or previous work experience in general? I'm mainly asking if it'll open up other opportunities other than what I'm doing now (computers/financial stuff).

 

As for having a specific career in mind and following that, well, it depends on how lucky you get when you graduate. Mostly, graduates take the best offer and "grow into" the job they get.

Well, I meant would it lend itself to a change of specialization?

 

Keep in mind that even if you DO get an MBA from one of the top schools, those things ARE a dime a dozen.

Okay. Should I be wary of degree inflation?

 

If you are competing for promotions or jobs against people who hold MBA's, then you are at a disadvantage. That's the primary reason to get one. With so many people having college degrees, companies use MBA's as another level for weeding people out.

This is what I'm afraid of--education being relegated to use as at most an expensive, difficult defensive measure with little inherent value.

 

Your MBA MUST be from a top rated school, I have one,,but from a "lesser" College. I have a good joke, goes like this... What is the difference between a MBA and a large pizza,

A Pizza will feed a family of 3.

I see. So are you saying that in and of itself an MBA is essentially worthless?

 

An MBA is a good trailer, at the end of your degrees...

What does this mean?

 

if you are looking for a career shift , MBA is a good move. but you should be aware of where you want to head to before commiting to the process of going for it.

Oh ok. I'm not sure what sort of career I'd be headed for anymore, so I guess I'm putting the cart before the horse a bit there.

 

Also MBA is not advised for people who want to do entrepreneurship in the future.

Why is this the case?

[This_Too_Shall_Pass]

Previous work experience in the same career, or previous work experience in general? I'm mainly asking if it'll open up other opportunities other than what I'm doing now (computers/financial stuff).

 

Well, work experience in a similar category is what I meant. Something you could leverage later down the line, when you're looking for jobs after graduation.

 

You already know what I'm talking about - 2 years at McDonalds is not what you'd put onto your resume for corporate jobs, although it's just as much of a learning process as other jobs.

 

If you're doing computers / financial stuff right now, you're all set. So many ways to justify that on your resume.

 

 

Well, I meant would it lend itself to a change of specialization?

 

That props another question - do you happen to have a particular specialization in mind? If yes, what is it?

 

Broadly speaking, a MBA would have one of the following specializations - Marketing, Finance / Accounting, E-commerce, Human Resources, Information Systems, Operations, and Entreprenuership.

 

The field you seem to be working in right now, is actually necessary in most of the above areas. So I wouldn't worry about a "change in specialization" slowing you down.

 

I've also seen people coming to a program with a certain plan, and then they choose something totally different when the time comes to pick specializations.

 

This is what I'm afraid of--education being relegated to use as at most an expensive, difficult defensive measure with little inherent value.

 

This is true to an extent, unfortunately. A MBA is not like a degree in medicine, where you're completely, tangibly unique from other professions in your skills and knowledge.

 

So, overlap will occur, no matter how much you specialize.

 

So are you saying that in and of itself an MBA is essentially worthless?

 

No, that's not the case. It depends on you and your abilities, and how you use them. The MBA degree will help you in getting more interviews, for sure. How many of those you can convert into an offer you like, depends on you.

 

One positive thing about the MBA is having a strong alumni and peer network. Those will often get you the best jobs available.

 

 

 

Now, if all this sounds worth spending considerable time and money on, with all the inherent risks included, then go for it.

[amerikajin]

I've been having thoughts about changing my career entirely, but if I continue doing what I'm doing, an MBA would be a potential next step.

 

For those who have done MBAs, was there a specific career you had in mind at the time? Did you continue in it?

 

I've also heard via the rumor mill that MBAs drastically lose their value when they aren't from the top 15 schools; is there any truth to that?

 

Something I find most disturbing is this: Jack Welch's description of the value of an MBA. I'm certain that different managers have different management styles, so I'm certain that his word isn't necessarily gospel, but the concept of business school as little more than a severely overpriced, exclusive-ified networking event is something I do find disturbing.

 

I'm 3 months away from starting grad school, so I can relate to some of your sense of apprehension.

 

I think the way to look at an MBA, a law degree or any other distinction is to see it as an investment, but not an economic investment. Nothing in a degree promises a higher salary - that's the sales pitch that higher ed recruiters make, but it's not true. In fact, there are a lot of millionaires - and even some well-known billionaires - who dropped out of college. The flip side is, a fair number of degree holders have been less than satisfied with their post-graduation earnings.

 

I think an MBA would give you some insights you might not get otherwise. It gives you some statistical and theoretical background which is valuable, but by itself, insufficient for success. You have to do the very things Welch suggested in the article: network and learn on the job through experience. And in a way, you have to see things others don't see - an MBA can help with that last part. Don't worry so much about the salary, just ask yourself how confident you are about being able to bear the costs of the education, and ask if you could be happy if you end up paying that off for the next 20 years. Ask yourself if you can be happy even if you don't end up being a top-level exec in a Fortune 500.

[Poboy]

Why is this the case?

 

MBA is a professional course where they generally groom you to become managers.

entrepreneurship i believe is best in the hands of an unfinished raw talent rather than a groomed one. i can put it a lot of points but the main basic thing is risk taking and boldness that in needed in a startup is much more in a fresher person rather than an MBA which in the 2 years changes the attitude and perspectives in looking towards work , entrepreneurship . it maybe an individual thing where you are that driven and hungry enough for a startup and be succesful ... but in general , its seen non MBA's make better leaders and succesful business people than MBA's.

 

MBA after a succesful startup or even after a couple of unsuccesful ones is a different case initself ... that is a good choice

[Lights]

That props another question - do you happen to have a particular specialization in mind? If yes, what is it?

 

Broadly speaking, a MBA would have one of the following specializations - Marketing, Finance / Accounting, E-commerce, Human Resources, Information Systems, Operations, and Entreprenuership...

I've also seen people coming to a program with a certain plan, and then they choose something totally different when the time comes to pick specializations.

Well, if I were to continue it'd probably be something along the lines of finance, but even then I'm questioning whether I even want to continue doing what I'm doing.

 

This is true to an extent, unfortunately. A MBA is not like a degree in medicine, where you're completely, tangibly unique from other professions in your skills and knowledge.

 

So, overlap will occur, no matter how much you specialize.

 

...One positive thing about the MBA is having a strong alumni and peer network. Those will often get you the best jobs available.

 

I wasn't so much worried about overlap with other professions as much as the concept of an MBA or graduate education in general being little more than a pricey networking conference used as a defensive measure--that's got me spooked. (I'm not so interested in fighting a costly battle through the nightmares all over again and despite all the work, still have my prospects determined by whether or not I could stand enough people enough to have them as buddies at the time I graduate.)

 

Now, if all this sounds worth spending considerable time and money on, with all the inherent risks included, then go for it.

May I ask you what work you do, and how business school helped you?

 

I'm 3 months away from starting grad school, so I can relate to some of your sense of apprehension.

 

I think the way to look at an MBA, a law degree or any other distinction is to see it as an investment, but not an economic investment. Nothing in a degree promises a higher salary - that's the sales pitch that higher ed recruiters make, but it's not true. In fact, there are a lot of millionaires - and even some well-known billionaires - who dropped out of college. The flip side is, a fair number of degree holders have been less than satisfied with their post-graduation earnings.

 

I think an MBA would give you some insights you might not get otherwise. It gives you some statistical and theoretical background which is valuable, but by itself, insufficient for success. You have to do the very things Welch suggested in the article: network and learn on the job through experience. And in a way, you have to see things others don't see - an MBA can help with that last part. Don't worry so much about the salary, just ask yourself how confident you are about being able to bear the costs of the education, and ask if you could be happy if you end up paying that off for the next 20 years. Ask yourself if you can be happy even if you don't end up being a top-level exec in a Fortune 500.

 

I see; what are you studying these days, and if you wouldn't mind, why?

 

 

MBA is a professional course where they generally groom you to become managers.

entrepreneurship i believe is best in the hands of an unfinished raw talent rather than a groomed one. i can put it a lot of points but the main basic thing is risk taking and boldness that in needed in a startup is much more in a fresher person rather than an MBA which in the 2 years changes the attitude and perspectives in looking towards work , entrepreneurship . it maybe an individual thing where you are that driven and hungry enough for a startup and be succesful ... but in general , its seen non MBA's make better leaders and succesful business people than MBA's.

 

MBA after a succesful startup or even after a couple of unsuccesful ones is a different case initself ... that is a good choice

 

Oh, ok. I didn't know that--I've heard of entrepreneurship programs even at undergraduate levels, though, so I'm not entirely sure that MBAs necessarily will preclude effectiveness in entrepreneurial situations.

 

Are you an entrepreneur?

[Poboy]

yes i became a entrepreneur at 23 , no mba . i have friends who are MBA's from top b schools from my country and also know a few from top US schools also so i am basing my opinions on what i have seen , read and known from my friends too.

like i said its an individual thing if one is succesful in a business or not with or without an MBA. a degree like mba will be helpful no doubt.

 

if your current focus is for a good career in one of the specialization fields in MBA , go for it from a good school with a great alumni network ( generally seen in top 5 to 7 b schools ).

there are lot of books in the market ( check out amazon ) which can give you a good idea about MBA , what you can expect , what you need to do , best schools with the best programmes etc ...

 

you just need to be clear about the important questions like why , how , when , where etc about mba .