Mba

[Starry436]

Anyone here with an MBA or pursuing one? I am thinking of sitting for the GMAT exam so I can apply to grad school... I didn't have the strongest GPA in college and definitely wasn't the best test taker but just graduating was a huge accomplishment I never saw for myself. I am wondering how long you studied for the GMAT, and your thoughts on it. As well as thoughts on your MBA program and if you would recommend doing it online or not?

I won't be applying to the top schools, I'll be going back to my undergrad school to pursue the MBA if I'm accepted. I don't know their acceptance rate but I do know my GPA is one notch below what the program requires (mostly because I took a lot of general courses at a community College and eliminated a lot of "GPA fluffers" at the 4 year) and was just told to try and do really well on the GMAT. I've been haggling with the thought of getting an MBA for 3+ years now.. But I feel I may need it to get the jobs with the pay I want in my area

[james.hendrickson]

Starry, in general more education is a desirable thing.

The more education you have, the more money you'll make. More education also leads to better health and better longevity.

[Captain Save]

After graduating business school .. I always thought it's something I would do down the line... but I never found a good use for it. The ROI for my specific case at least is not worth it... there are certain areas you pursue that it's pretty much expected.

What is your reasoning to pursue your MBA.

[AJ444]

I got my MBA in 04 at the age of 24. I would not have the job I am in currently without it so it definitely paid off 13 years later. My first company paid for it so I was only out the time. I've found in my career a Bachelors can get you to Manager level positions but it is a tough haul to get to Director and above without a graduate degree, of course there are exceptions.

I hit the GPA I needed in my undergrad to get into grad school and hit the GPA I needed in grad school to graduate, it has never held me back. It wasn't worth it to me to invest more time in a higher GPA than what was needed to get to the next level. I just wanted the paper.

[Starry436]

I got my MBA in 04 at the age of 24. I would not have the job I am in currently without it so it definitely paid off 13 years later. My first company paid for it so I was only out the time. I've found in my career a Bachelors can get you to Manager level positions but it is a tough haul to get to Director and above without a graduate degree, of course there are exceptions.

This is why I want to try and pursue my MBA. My current company hardly values my undergrad, I'm one of about 4 people out of 70 with a degree there. No joke. It's been hell to get them to value my degree but to leave and get into the positions I want, I'll need the MBA to be truly competitive. I want to see how far up the ladder I can climb to reach my full potential. My current employer offers education assistance but it comes with a commitment and I don't think I want to be committed to there for if the right opportunity arises, I don't want to be stuck.

[bjl584]

I obtained mine back in 2008. I took off 6 years in between undergrad and going back to grad school.

I don't remember studying much for the GMAT. I might have bought a study guide for it, but I wouldn't sweat it too much. It's more of a formality. You pay the money, take a test, and you go to grad school.

[snafu]

In hope of being helpful, I mention...

Unless you're taking courses from a top 10 MBA grantor, the degree grantor doesn't matter so long as the university is 'accredited.' That's the critical feature as there is so much BS out there! Will your employer contribute to any of your costs? What grants, awards, bursaries, scholarships etc. might be available? Apply for anything you might even remotely qualify.

If you expect to complete via 'online' course work, it usually doesn't matter where the school is located physically. I suggest that you do a lot of research on pricing and qualification of instructors. The fees are all over the map! [DH was Director of one of our Uni's online Master's program. The Board of Directors set the fee parameters and choose to charge 5 x the regular fee for no good reason]

You need to know whether the program require any days of 'in-house' sessions. Ask how long the University you are considering, has been offering the specific program. You also need to know the qualifications/status of the specific instructors. For example, University of Phoenix hires adjuncts from anywhere as long as they have a PH D. It is a source that meets exam security requirements.

sorry am rushed

[Starry436]

I'm just going back to the same place where I received my undergrad, since a lot of the professors will be the same and if I need to take the class on campus instead of online, I'll have that option as well since I'm local. The college is accredited too. I look at some other schools and the prices were outrageous compared to my local university. It was really crazy and I couldn't understand the cost differences.

I'm trying not to sweat the GMAT but I am since I've been out 4 years and just now deciding to try and go back. I suck at the geometry, algebra hoop blah.. Still never found a use for it in real life. I think the university has close to a 60% accept rate.. So maybe they won't care too much of my GMAT scores.

Hopefully I can be more competitive if I do complete the MBA. I'm almost sure I've lost out to some positions I've applied for to someone with higher credentials.

[~bs]

you really need to evaluate the cost/benefit of additional education and whether it is worth doing. Things are very different nowadays, and the mantra of "more education is better no matter what" that worked so well decades ago no longer apply

I considered pursuing a mba in the past, but discarded the idea, as it would have provided no measurable direct benefit in terms of salary, and cost me $40-50k total.

It is a bid decision, and one you should make based on your own research. A mistake can cost you a lot of time and money.

[Captain Save]

you really need to evaluate the cost/benefit of additional education and whether it is worth doing. Things are very different nowadays, and the mantra of "more education is better no matter what" that worked so well decades ago no longer apply

I considered pursuing a mba in the past, but discarded the idea, as it would have provided no measurable direct benefit in terms of salary, and cost me $40-50k total.

It is a bid decision, and one you should make based on your own research. A mistake can cost you a lot of time and money.

My thoughts are pretty much the same but it looks like his job highly values the MBA..

[TexasHusker]

All depends on what your life's goals are. If your goal is to move into upper management at a large company, you'll need the MBA after your name. It's all about credentials for those types of jobs as you pointed out.

If you are content to stay in middle management, there's no need for an MBA.

If you are going to eventually do your own deal, I wouldn't waste a dime on more education. I would be investing in things that would help hasten my own launch.

I know of guys that really felt like they'd be better off hanging around for the gold pocket watch, who went and got MBAs and it really helped them out. They got promoted higher and made significantly more money. One has gotten his gold watch and now plays golf every day.

[AJ444]

This is why I want to try and pursue my MBA. My current company hardly values my undergrad, I'm one of about 4 people out of 70 with a degree there. No joke. It's been hell to get them to value my degree but to leave and get into the positions I want, I'll need the MBA to be truly competitive. I want to see how far up the ladder I can climb to reach my full potential. My current employer offers education assistance but it comes with a commitment and I don't think I want to be committed to there for if the right opportunity arises, I don't want to be stuck.

How long is the commitment? Mine was two years after graduating or I had to pay back the portion that was less than 2 years prior. I stayed 2 years and 3 months after graduating and chased more money at a different company. My first employer got zero return on investment paying for my grad degree, all they had to do was match what the next company would give me which was 8k at the time but they had a pretty firm unwritten policy against doing that.

[LivingAlmostLarge]

My husband did an mba. We're pretty sure it wasn't worth it financially. But he also chose not to climb the corporate ladder. That being said he said it might be helping him right now get a job he wouldn't have gotten without it. But he's unusual since he already did a phd prior to the mba and so it's not his highest or even terminal degree. He also thinks it might be a bit more different than most so he gets a different look when his resume is turned in.

[Starry436]

I think the commitment is two years, and I fear that if they pay for my masters then they'll say I won't be eligible for raises, or at the very least I'll get minimal raises. I also just can't see myself there in two years. There's nothing to learn or progress into. The clique of current top management is there to stay.

I apply to jobs that would be a step above what I am now but just can't really get any good bites and I do believe it's due to lack of higher education or initials after my name. Even though it's a small town, there's lots of good competition for the rare, advancing jobs that do come up. If I don't get into the MBA Program I don't see how my current position can give me the experience to make me competitive to higher level positions.

[jenn_jenn]

I completed my MBA last year and I’ve already seen the payback. Every employer is different but my employer paid for roughly half of my program and it didn’t prevent me from getting substantial raises. For me, I wouldn’t have the job I have with out my MBA. With that said, the value for me was the check box on the resume - I don’t think I learned anything in school that I couldn’t have learned through experience. Being a young female professional, I knew I needed the MBA to advance my careeer. Ymmv.