At WHAT POINT do you need a MBA?

[Mo0o]

I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

 

[Capt Caveman]

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

 

[Mo0o]

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

 

[Capt Caveman]

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

 

[rasczak]

Originally posted by: joshsquall
I think it's generally recognized that an MBA is worthless for everything but making you an additional $10-20k per year.

i don't see that as worthless then if that statement holds true. an extra $10-20k?

 

[Delita]

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Hearsay is the most accurate form of communication. Would take advice to make life changing decisions again. A++

 

[JS80]

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

 

[Capt Caveman]

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

Are we talking about someone who was not in a business field and after getting a MBA was recruited and hired to a finance position?

Or someone with a number of years of experience and then getting recruited and hired to work in another business field?

Note, I can't think of anyone that I know who went full-time for their MBA and went back doing the same job/career they had previously.

 

[Delita]

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

Your degree of myopia fails you

 

[Ns1]

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

call me an idiot, but shouldn't the MBA be more useful for NON business majors? Isn't the whole point to teach non-business majors management functions?

A finance major -> MBA isn't as big of a step as a CE major -> MBA IMHO

 

[Special K]

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

After completing the MBA, would you then go back and work for the same i-bank, or would you attend the MBA program's career fair and networking events (I'm assuming they exist) and find a new career?

How would your manager at your existing job feel about recommending you to an MBA program, knowing that you would leave the company after you completed the degree?

 

[NoMoMoney]

I'm a first year MBA at MIT Sloan. My undergrad is EE and I left a job where I would have been making 90K.

What do I expect to get out of it?
As many have mentioned I wanted a change of pace. I could have gotten there without a MBA, but by getting it from a top school I now can leverage a network that I would have lacked. My thoughts heading to business school was that I was paying 90K (minus 180K lost wages) for a network. I've been surprised at the things I've learned. For those that don't want to pay, try the LFM program at Sloan. A dual MS Engineering with your MBA. You pay very little and are sponsored by a partner company where you have to do a 6 month internship. You give up 2 years, but you get both degrees.

What have I learned?
Quite a bit actually. Is it terribly important stuff that I couldn't have picked up from a book? Probably not. Would I have ever picked up so many books on so many topics in such a short period of time? probably not. I think it has been worth it. I've talked with several C-level (C*O) at fortune 500 companies and have learned about so many different industries.

Part Time or Full Time?
Part time is not an option at the top schools most of the time for an MBA. By immersing yourself you will learn a lot more. The views from my classmates are just as important as the views of the profs in class. If I was only going at night I don't think I would have gotten as much out of it. With that said, I've gotten less than most since I have a family, so I guess if you are single you could juggle school and work.

Other alternatives?
Sloan, I know it's only for those local to Boston, also has an SDM degree (I think, might be called something else now) that is part time and seems to be geared towards CS people. There is also the executive MBA, which is geared towards people further along in their career.

The future:
My path at my former employee was a murky one. I could have left and started somewhere new, but by choosing Sloan I think I'll be much more marketable. I won't make much more when I leave Sloan (in absolute salary terms) but the potential for growth are much higher in the position I will end up in.

Mid tier or Top Tier:
I think I agree with the consensus that a mid-tier (out of the top 25 say) is probably marginal depending on the exact school. If your company is paying, then it is probably worth it. Getting into a top school in the next few years will probably be more difficult. Sloan apps (and all schools) apps were up 30% this year. They aren't taking any more people, so you can do the math.

Oh, another advantage to Sloan is that I get to meet with PhD students in engineering and they like the business school kids cause we are the ones that know how to best monetize their inventions I have helped 2 startups so far. One was purely business school (but of course, most at b-school are engineers) and the other was a cross with several PhD students. This is something that I would have never been able to do if I didn't go to Sloan.

Call me stupid if you'd like for getting a MBA, but get back in touch with me in 4 or 5 years when I can truly show you what the value of a MBA from a top school is worth! Or you can say 'ha ha' when I'm only marginally better as some suggest.

 

[JS80]

Originally posted by: Special K

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

After completing the MBA, would you then go back and work for the same i-bank, or would you attend the MBA program's career fair and networking events (I'm assuming they exist) and find a new career?

How would your manager at your existing job feel about recommending you to an MBA program, knowing that you would leave the company after you completed the degree?

I think a lot of i-bank to MBA opt to enter other finance positions or management consulting. However, a few do go back to i-banking as an associate.

To answer your last question, most finance positions have a 2-4 year lifespan (move up or out).

 

[JS80]

Originally posted by: Ns1

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

call me an idiot, but shouldn't the MBA be more useful for NON business majors? Isn't the whole point to teach non-business majors management functions?

A finance major -> MBA isn't as big of a step as a CE major -> MBA IMHO

OK I guess apples to oranges. However I would still say it's a difficult decision to pass on 2 years of CE salary and pay $200k for bschool (or whatever the tuition is going for these days). I just feel like if you are management material you don't need an MBA. However, getting one may teach you the finance tools needed.

I would also like to add that in my experience most executives do not have MBAs. Most of them are extremely intelligent people who have built themselves with their career path. The ones with MBAs are usually from middle tier and are in middle management positions and i can't really say it's the MBA that put them there.

 

[Ns1]

Originally posted by: JS80

Originally posted by: Ns1

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

call me an idiot, but shouldn't the MBA be more useful for NON business majors? Isn't the whole point to teach non-business majors management functions?

A finance major -> MBA isn't as big of a step as a CE major -> MBA IMHO

OK I guess apples to oranges. However I would still say it's a difficult decision to pass on 2 years of CE salary and pay $200k for bschool (or whatever the tuition is going for these days). I just feel like if you are management material you don't need an MBA. However, getting one may teach you the finance tools needed.

I would also like to add that in my experience most executives do not have MBAs. Most of them are extremely intelligent people who have built themselves with their career path. The ones with MBAs are usually from middle tier and are in middle management positions and i can't really say it's the MBA that put them there.

Also, why the need to stop working? Friend's a manager @EY, took part time MBA @UCLA. Finished a few months ago.

 

[JS80]

Originally posted by: Ns1

Originally posted by: JS80

Originally posted by: Ns1

Originally posted by: JS80

Originally posted by: Capt Caveman

Originally posted by: Mo0o

Originally posted by: Capt Caveman

Originally posted by: Mo0o
I dont think anyone is knockin finance/banking jobs, but MBAs really are worthless unless the school you got it from is top top flight

B/c no companies hire or recruit from non top top flight MBA schools?

*shrug* from what I hear, unless your company is paying for it, there's no point in paying your own way through a middle tier b-school. What you could have gained in experience/networking for those 2 years would have been much more valuable.

Wow. B/c you gain no experience and no networking opportunities in school? And no top companies hire/recruit from these schools? And it doesn't open the opportunity to change one's career into a business related field?

You know that there are lot of CEOs and Senior Mgmt with MBAs from non top top flight schools. I like 'from what I hear'.

What do you think the average salary of a middle tier b-school candidate is BEFORE entering MBA program and AFTER? Then factor in cost of MBA and 2 years of forgone income AND career advancement and tell me it's worth it.

What is it? Like $70k avg for middle tier? You should be making that as a finance professional by 28 without an MBA.

call me an idiot, but shouldn't the MBA be more useful for NON business majors? Isn't the whole point to teach non-business majors management functions?

A finance major -> MBA isn't as big of a step as a CE major -> MBA IMHO

OK I guess apples to oranges. However I would still say it's a difficult decision to pass on 2 years of CE salary and pay $200k for bschool (or whatever the tuition is going for these days). I just feel like if you are management material you don't need an MBA. However, getting one may teach you the finance tools needed.

I would also like to add that in my experience most executives do not have MBAs. Most of them are extremely intelligent people who have built themselves with their career path. The ones with MBAs are usually from middle tier and are in middle management positions and i can't really say it's the MBA that put them there.

Also, why the need to stop working? Friend's a manager @EY, took part time MBA @UCLA. Finished a few months ago.

The think the FEMBA program is awesome but it's one of a kind. Of course this only works if you work in LA.

 

[Ns1]

Originally posted by: JS80
The think the FEMBA program is awesome but it's one of a kind. Of course this only works if you work in LA.

Who gives a shit about everybody else

 

[Nerva]

Originally posted by: E equals MC2
My friend makes $80K doing IT consulting with a Bachelor degree (28 yo)
My other friend is in Project management and makes little shy of six figures (29 yo)
My GF's tutor student's mom is a VP of Finance making big big bucks just holding a Bachelor and being right place at the right time in a small company.

My friend holds MBA.. he currently makes $65K doing finance work.
My coworker holds MBA making $48K holding the exact same position as I.

I know Bachelor means nothing and it all comes down to your character... but same can be said for MBA? Then why would I need MBA?

really? MBA grads at my firm as a first year pulls at least 200k all in...

 

[Koing]

Originally posted by: JS80

Originally posted by: rsd
The fact that this thread exists and the topic is heatedly debated upon, reinforces the fact that the type of people that frequent this forum (aka Engineers) aren't always as smart as they think they are

zing

Koing

 

[Koing]

Originally posted by: Special K

Originally posted by: JS80

Originally posted by: Special K

Originally posted by: JS80
If at the age of 28 (average age of MBA student?) you are willing to spend $200k for b-school and forgo 2 years of earnings power...well let's just say you most likely failed in your career.

So then under what circumstances would you go? Only if the company is picking up the tab?

Company pay, Part time MBA at a reputable school (i.e. UCLA FEMBA program), Top 10 MBA program, i-bank to mba transition.

After completing the MBA, would you then go back and work for the same i-bank, or would you attend the MBA program's career fair and networking events (I'm assuming they exist) and find a new career?

How would your manager at your existing job feel about recommending you to an MBA program, knowing that you would leave the company after you completed the degree?

They tie you down with 1-2yr contract so you CAN NOT leave the company without paying for the fees that put you through your MBA. This is pretty standard for professional qualifications across the board.

Koing