Anyone have a Masters' degree?

[PennyPincher]

I'm seriously considering going back to school to get my MBA. It would be a huge commitment in every way, including financially. I think I could learn so much, demand a higher salary, and feel more confident to start a business in the future, etc.

I'm curious if some of you out there have advanced degrees and if you feel it was worth it.

I am looking at an Executive 20-month program, (alternating on Fridays/Saturdays) so I could be done about 2 years from now. Although I'm almost 30, I don't think I'll have kids before that since we still need to get married. So...this seems like the right time to go for it.

I'd appreciate your thoughts.

[34saving]

Re: Anyone have a Masters' degree?

I've had my Master's for awhile and my husband just got his. Mine was worth it because it meant more money (when I was working) . . .we're still wondering if his will be worth it I'd definitely do it now BEFORE kids since you have the chance to. A couple of my friends are back in school and they have young children. That's been very hard. Possibly still worth it, but much harder than before kids. A 20 month MBA program will probably be pretty hard core, but if you think you ever want the degree, go for it.

[CRFSaver]

Re: Anyone have a Masters' degree?

I have my MBA as well. Check and see if your company will pay for part or all of it. What I felt I got out of the program was not so much learning as time management skills I didnt have before as well as a much more colaberative environment. If you paln to stay at your current company, any program they endorse wil be great, if you plan to change companies or careers, make sure you find a program that has the right type of recruiting for you. That I have found is normally what sets the "top 10" programs apart from the non top 10. They have active recruiting people that get the top paying companies in.

[DivaJen]

Re: Anyone have a Masters' degree?

I don't have an MBA, but I do have a Master's, and it allowed me to earn more when I was teaching.

I agree with whomever said if you're going to do it, try to do it before you have kids. Not that it can't be done once you have one (or however many), but kids do take a lot of time and energy.

[esmeralda]

Re: Anyone have a Masters' degree?

I am in the process of completing a master's degree program (not an MBA). I know that I will be able to earn far more with paper in hand than I currently make. I've done my research and though salaries are driven by location, all the cool jobs I've found and really wanted have required "paper training". So i'm willing to jump through the hoops to get where I want to go.

My employer is paying for it and I will recieve a raise once I have my degree. I incurred a lot of student loans for my undergrad degree and didnt want to go through that again. Working for an employer who foots the bill was what pushed me over the edge to go back to school. With this set up, I'd be a fool not to.

The down side is that I am already working in the field; because I really enjoy this sort of work, I sought out a position and finally found one. Because the classes I'm taking are very heavy into theory, I'm bored most of the time...and becoming cynical about it. There is a huge gap between what I'm learning in the classroom and what I do on the job. And usually, never the two shall meet.

I know that not all jobs are like this and that having a degree will help me tremendously should I decide to look elsewhere. I'm just feeling mired down in the process.

I hope this will be my last year. After that, I want to study some foreign languages, possibly work toward a second degree....will probably depend on whether I remain in my current position and who is paying for it.

[jmjj215]

Re: Anyone have a Masters' degree?

I have one year left for my master's in accountancy. It's a lot of theory too - not what you learn hands-on - but just the process of learning and studying has been very beneficial to me.

[mjrube94]

Re: Anyone have a Masters' degree?

I have my MBA from Columbia. I'm not sure if they still have this program, but I went through their "Summer MBA". Our companies sponsored us, we went to school full-time during the summer (no work, but still got full pay) and part-time in the spring and fall. The program took 2 1/4 years. In return for our sponsorship, we had to agree to stay at our company for 3 years after graduation, or pay back a prorated portion of the (really hefty) tuition costs. Needless to say I stayed. This was a win-win all around. The school was happy to have a use for their classrooms in the summer (and they charged our companies a higher rate than regular MBAs), the companies were happy because they retained their people, and we were happy because we got a free ride.

From what I know of Executive MBA programs, companies usually foot the bill for those, too. If your company doesn't, maybe you'd like to approach them with a deal where you'd stay for x months if they help with the tuition. The other good thing with an EMBA is that, given it's Fri/Sat schedule, you can still work full-time, which makes it more work, but less risk.

As for whether or not it will help you, my personal opinion is that it couldn't hurt, but how much it helps depends on what you want to do. In my case, I started my family shortly after graduation and went part-time with my employer (and haven't seen a promotion since!). So in my case, it hasn't helped a ton, although I'm glad to have it on my resume if I ever need it. Good luck with whatever you decide...

[rob62521]

Re: Anyone have a Masters' degree?

I'm kind of slow on answering this one -- been busy transporting my mom to doctors' appointments and such and am now getting a chance to read some things on the site.

I don't have an MBA, but do have a master's in administrative education (yep, I'm a teacher). I had to pay for it out of my own pocket and worked full-time and went to school part-time. I did get a raise after completing it and now, almost 10 years afterwards, feel it was well worth the time and money spent. Plus, it gave me a chance to meet some other people in other districts which I guess would be called networking in the business world. Schools are becoming more like businesses since we have to put out a product of sorts -- an educated student -- so knowing other people does pay off. I'm hoping to retire in 10 years and the boost in salary will help my retirement benefits.

As for the theory classes, yes, they are boring and no they aren't the real world, but you can look at them as a way to stretch your mind. I never thought I would need a school finance class since I was never going to be a principal, but now I deal with grants and the finance background has helped. One never knows what is going to happen in the future. We just need to keep learning and be a lifetime learner. (Sorry, I'm a teacher through and through!)

[Bruce Wayne]

Re: Anyone have a Masters' degree?

I have a postgraduate degree and it was certainly worth it, not so much for the extra career prospects, but for the amazing time spent learning amazing things with amazing people.

Definately recommended.

[pennywise]

Re: Anyone have a Masters' degree?

I am working on my masters in nursing - Adult/Gero Nurse Practitioner. Medicare and Medicaid just gave us our billing rights and we hope to establish my own clinic. We currently live in Michigan but will move to Oregon for the hospital priveledges. My spouse is working on a juris doctorate (attorney) and will take the bar in California. We do believe this is worth it. I am 49 and my spouse is 51. We have almost 20 years left to our working life and with the changes in companies not supporting the loyalty of thier workers we wish to set out on our own. I encourage careers that offer independent practice. Good luck. We do need more education to stay competitive.

[mbhunter]

Re: Anyone have a Masters' degree?

I don't have a Master's, but I do have a PhD in Physics. (To get the MS as well would have just been some paperwork.) I question a lot whether it was worth it or not. I don't think that I would trade it, but let's just say that it's more fun being a finance/money blogger than it is a scientist! I suppose the advanced degree gives me a cushion and the flexibility to try other things that interest me.

[CRFSaver]

Re: Anyone have a Masters' degree?

Wow MBHunter! Why arent you on Wall Street on a fixed income desk?

[gakline]

Re: Anyone have a Masters' degree?

I'm thinking about getting a MS in Mathematics. I'm an engineer right now, but I was thinking about gong into teaching, maybe pt. All the places here want an MS in the subject. I was thinking of doing it when I have kids actually. Be a stay at home mom, and go to school (yep, double burden). I figure then I can drop the kids at grandma's and head to school. Then I could work pt while they're in school.

[rob62521]

Re: Anyone have a Masters' degree?

If you are thinking of going to go in teaching in Illinois gakline, I recommend you take a double major of math and science or math and special ed. Seems the districts in Illinois need math and science teachers and everyone seems to need special ed. teachers.

[gakline]

Re: Anyone have a Masters' degree?

If you are thinking of going to go in teaching in Illinois gakline, I recommend you take a double major of math and science or math and special ed. Seems the districts in Illinois need math and science teachers and everyone seems to need special ed. teachers.

Oh let me rephrase that, I want to go into secondary education. A junior college or a 4 year degree. I want a pretty flexible schedule with 1-2 classes a semester. I have thought about the double majoy though, probably math and physics.